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I have seen a house but I havent sold mine yet - advice needed
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All assets in SquatNowWorld have nil value until sold. Do you have a pension SquatNow? What's it worth? Ignoring basic economics, I'd say £0.Writing over 5000 posts doesn't excuse you from ignoring basics economics. Something is only worth what someone is prepared to pay for it. Period.
Until it's case in your hand, it's worth £0.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
I have no pension. Neither will anyone else in about 8 months.
Where do you think all these banks have been getting the money to make these silly loans to people? That's right, the've been selling all the debts to your pension funds!
Even worse than this, other investment funds, and the banks when debt was so high risk no-one would buy it, got PENSION FUNDS to insure them against the debt defaulting! This is why many pension funds have been "recovering" over the last few years... they've been getting all the insurance premiums. But what if they have to pay out????
Banks even got insurance against OTHER *UNRELATED* banks having their loans default. Basically they are betting AGAINST the pension funds.
As the credit crunch picks up, pension funds will start be wound up, with any money left over going to those already in retirement.
I'm 30. I bought a MGTF sports car, and I go on 2 holidays a year. If I put that money in a pension, someones grandad would get it. I'de never see it again.
Oh... and yes, that's correct. According to the basic rules of economics, no item has a fixed value until it is sold. It has a perceived value.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
thread hijack alert0
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Less than 12 hours ago that perceived value was always 0 according to you......Oh... and yes, that's correct. According to the basic rules of economics, no item has a fixed value until it is sold. It has a perceived value.
PS Remind me in about 8 months and I'll tell you what % value my pension fund has changed by.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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So shouldn't you be stocking up on tinned food, bottled water, gold coins and ammo then?I have no pension. Neither will anyone else in about 8 months.....A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
BobProperty wrote: »Less than 12 hours ago that perceived value was always 0 according to you.
PS Remind me in about 8 months and I'll tell you what % value my pension fund has changed by.
The VALUE is zero until exchanged for something else... such as cash.
An item always has *perceived* value.
People will always think an item is worth something... exactly what it is worth is unknown until the item is sold. The item could be worth what they think it was, or it could be completely worthless.
If no-one will buy it off them then it is worthless... it has only sentimental value. The item could even be a liability, for example those houses where the owners turn out to be liable for repairing local churches. Any listed building are a HUGE risk of this. They can instantly become a liability it if is discovered they need expensive repair work.
Ironically even cash can become worthless.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
And society is happy to work that way. Please explain how most of our civilisations would work if we did not use perceived values?The VALUE is zero until exchanged for something else... such as cash.
An item always has *perceived* value......A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0
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