| The Pound 13:57 - Sep 24 with 100098 views | Stanmiguel |
Well, the money markets didn't like the mini budget.
I met Liz Truss in a hotel in Monmouth a few years ago.
She said her solution to pensioner poverty would be to feed them on Pedigree Chum.
Not only would this save a lot of money, it would give them shiny coats and a nice cold nose. |  | | |  |
| The Pound on 15:08 - Sep 27 with 2668 views | BazzaInTheLoft |
| The Pound on 14:41 - Sep 27 by SheffieldHoop |
Well speaking as a 20-something who had never thought about saving prior to lockdown, and then managed to save an entire house deposit during lockdown, I disagree.
Oh - And at no point did I even consider lowering, never mind stopping my 9.3% pension contribution [Post edited 27 Sep 2022 14:42]
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You need to make your mind up mate.
You was destitute in a cramped bed sit a couple of months ago because of all the foreigners. |  | | |
| The Pound on 15:44 - Sep 27 with 2556 views | Juzzie |
I must be a rarity because I started my pension when I was 21 and saved over the next half-dozen years which enabled me to pay the deposit on my flat which I bought in 1998. I was able to do this because I didn't have the latest shoes/clothes/holiday/car/motorbike/gadget etc. I purposely kept things tight in order to get where I am today which was gentle progressing until I now have a houae (still with a mortgage but not a millstone around my neck kind).
I absolutely will not be told by anyone who moans and bitches (Russian_Bot [or any current incarnation on here] who clearly hated boomers [I'm not a boomer though, later generation) ) that it's previous generations fault. I don't give a schit what other people/generations did/didn't do. I took it upon myself to be astute and forward thinking (if I say so myself!) and worked hard to get where I am today. I have friends the same age who are still renting because they spent their entire 20's, 30's and 40's on one long spend-fest. Their choice. |  | | |
| The Pound on 15:55 - Sep 27 with 2534 views | Watford_Ranger |
| The Pound on 15:44 - Sep 27 by Juzzie |
I must be a rarity because I started my pension when I was 21 and saved over the next half-dozen years which enabled me to pay the deposit on my flat which I bought in 1998. I was able to do this because I didn't have the latest shoes/clothes/holiday/car/motorbike/gadget etc. I purposely kept things tight in order to get where I am today which was gentle progressing until I now have a houae (still with a mortgage but not a millstone around my neck kind).
I absolutely will not be told by anyone who moans and bitches (Russian_Bot [or any current incarnation on here] who clearly hated boomers [I'm not a boomer though, later generation) ) that it's previous generations fault. I don't give a schit what other people/generations did/didn't do. I took it upon myself to be astute and forward thinking (if I say so myself!) and worked hard to get where I am today. I have friends the same age who are still renting because they spent their entire 20's, 30's and 40's on one long spend-fest. Their choice. |
You can be an incredibly astute 20-something and never have a chance on an average salary to get close to buying which wasn’t the case a generation ago no matter how many lattes you forewent to get on the ladder. | | | |
| The Pound on 15:58 - Sep 27 with 2512 views | Juzzie |
| The Pound on 15:55 - Sep 27 by Watford_Ranger |
You can be an incredibly astute 20-something and never have a chance on an average salary to get close to buying which wasn’t the case a generation ago no matter how many lattes you forewent to get on the ladder. |
Totally understand there's the element of right-place-right-time but I'm hardly going to say in 1998 "nah, I won't buy that flat because in 25 years time the economy may be screwed and others may not be so fortunate". It was still a scary decision even then as everything I had went into that flat. I still had to take things easy for a quite a while.
Just don't like it when people get all narky because I was able to. | | | |
| The Pound on 16:01 - Sep 27 with 2495 views | QPR_John |
Labour MP Rupa Huq suspended from party for calling Chancellor Kwasi Kwarteng 'superficially' black | | | |
| The Pound on 16:18 - Sep 27 with 2446 views | kensalriser |
| The Pound on 15:44 - Sep 27 by Juzzie |
I must be a rarity because I started my pension when I was 21 and saved over the next half-dozen years which enabled me to pay the deposit on my flat which I bought in 1998. I was able to do this because I didn't have the latest shoes/clothes/holiday/car/motorbike/gadget etc. I purposely kept things tight in order to get where I am today which was gentle progressing until I now have a houae (still with a mortgage but not a millstone around my neck kind).
I absolutely will not be told by anyone who moans and bitches (Russian_Bot [or any current incarnation on here] who clearly hated boomers [I'm not a boomer though, later generation) ) that it's previous generations fault. I don't give a schit what other people/generations did/didn't do. I took it upon myself to be astute and forward thinking (if I say so myself!) and worked hard to get where I am today. I have friends the same age who are still renting because they spent their entire 20's, 30's and 40's on one long spend-fest. Their choice. |
I bought a flat when I was 21. I'd been working for three years on very average wages. I got a little lucky when my landlord decided to pull a fast one by telling us (four tenants in a house share) that he wanted us to move out temporarily while he refurbished. We smelt a rat and because I'd never signed a licence agreement was effectively a sitting tenant so on advice I stopped paying the rent which enabled me to save the deposit more quickly and buy somewhere before he brought eviction proceedings.
But paradoxically it's the people who DGAF and spend all their money every month who help keep the economy going. If everybody did what we did it would all go to shit very quickly. |  |
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| The Pound on 16:34 - Sep 27 with 2417 views | Watford_Ranger |
| The Pound on 15:58 - Sep 27 by Juzzie |
Totally understand there's the element of right-place-right-time but I'm hardly going to say in 1998 "nah, I won't buy that flat because in 25 years time the economy may be screwed and others may not be so fortunate". It was still a scary decision even then as everything I had went into that flat. I still had to take things easy for a quite a while.
Just don't like it when people get all narky because I was able to. |
Absolutely. Can only play the cards you’re dealt. I think the ire is more towards the generation before yours who bought their houses for 50p and scoff at young people complaining while simultaneously daring to spend on anything beyond surviving. As ever, the real blame should be pointed at politicians. | | | |
| The Pound on 16:35 - Sep 27 with 2415 views | E1Hoop |
This is a lightweight post amongst all this interesting debate. I woke up this morning listening to the Today programme on Radio 4. They were interviewing an economist call Mohammed about sterling and interest rates. He was asked how big a deal the rise in interest rates on government debt was. He replied that it was unprecedented and it was the equivalent of my side QPR beating Man Utd 5-0. Most of the debate was beyond my grasp but the QPR reference on the today programme made my smile. | | | |
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| The Pound on 16:37 - Sep 27 with 2404 views | colinallcars |
I seem to remember someone describing trickle down economics thus:
If you feed a horse enough oats, a few grains may drop to the ground for the sparrows to fight over. |  | | |
| The Pound on 16:37 - Sep 27 with 2398 views | slmrstid |
| The Pound on 16:35 - Sep 27 by E1Hoop |
This is a lightweight post amongst all this interesting debate. I woke up this morning listening to the Today programme on Radio 4. They were interviewing an economist call Mohammed about sterling and interest rates. He was asked how big a deal the rise in interest rates on government debt was. He replied that it was unprecedented and it was the equivalent of my side QPR beating Man Utd 5-0. Most of the debate was beyond my grasp but the QPR reference on the today programme made my smile. |
And Black Wednesday was a pretty unprecedented event and that was in 1992...
As was Man Utd 1 - 4 QPR...
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| The Pound on 16:54 - Sep 27 with 2323 views | qprd |
| The Pound on 16:35 - Sep 27 by E1Hoop |
This is a lightweight post amongst all this interesting debate. I woke up this morning listening to the Today programme on Radio 4. They were interviewing an economist call Mohammed about sterling and interest rates. He was asked how big a deal the rise in interest rates on government debt was. He replied that it was unprecedented and it was the equivalent of my side QPR beating Man Utd 5-0. Most of the debate was beyond my grasp but the QPR reference on the today programme made my smile. |
probably muhammed al arian- one of the biggest of the big dogs of bond investing.... | | | |
| The Pound on 17:07 - Sep 27 with 2302 views | 100percent |
| The Pound on 15:08 - Sep 27 by BazzaInTheLoft |
You need to make your mind up mate.
You was destitute in a cramped bed sit a couple of months ago because of all the foreigners. |
i think that was his other identity, he's getting the two mixed up. |  | | |
| The Pound on 17:11 - Sep 27 with 2292 views | 100percent |
| The Pound on 10:56 - Sep 27 by lightwaterhoop |
A bit of a silly post.Billions of borrowed money and tax payers money is spent on the general public.Health,education and the welfare state just for starters. [Post edited 27 Sep 2022 11:26]
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Bit of a silly response... what's your point?
I totally agree billions has been spent and borrowed. It's also been massively mismanaged and misappropriated. | | | |
| The Pound on 17:24 - Sep 27 with 2272 views | Sakura |
| The Pound on 09:50 - Sep 27 by 100percent |
So, just for clarity here.... This is our fault?
It's our fault for paying our taxes and NI contributions and watching them being mismanaged and misappropriated on a grand scale?
I can't say that I remember any politician from either side 'pandering' to any members of the public. All I remember is sections of the governing party lining their own pockets at a whim and at our expense.
But of course, this is all our fault...... |
I would say yes it is partially our fault. The furlough scheme and the energy bailouts £200 billion between them are what's helped triggered this. It's the markets concern about how sustainable this is
Our tax and NI contributions as a society have been £2.4 trillion too low. Of course in reality of a Fiat system some debt is acceptable but we have as a society gone too far
Too much money has been spent by our government on us. What fraction of that £2.4 trillion do you really think has gone into the corrupt government's pockets? Can you honestly say the British public is blame free when that much debt has been racked up. 1 in 20 of Britains work force are in the NHS more still in other areas of government and all anyone does is moan how it’s not good enough. We have literally been the luckiest generation in British history and still we moan we want more as we pour on trillions in debt
Again I agree with you. The gov are corrupt. On all sides of the House and the largest chunk of the blame sits there. But a large chunk of the blame sits with the British public.
1997 was the starting gone on our spending of government money on unproductive spending that didn't encourage growth and it's progressively worsened from there | | | |
| The Pound on 17:26 - Sep 27 with 2268 views | Sakura |
| The Pound on 10:26 - Sep 27 by BazzaInTheLoft |
You are engaging with the latest manifestation of the usual suspect. Save your breath I say.
I assume he's got photos of Clive in a Chelsea shirt or something. |
Baz I would say I don't think bullying, encouraging exclusion, is ever an acceptable way to behave and something that most people have usually grown out of by the time they leave Primary school
Forums such as this see people from various industries and life experiences who have perhaps more knowledge than yourself on certain topics
If you don't want to engage with post on a forum for discussion such as this then I would suggest you take your own advice and "save your breath" | | | |
| The Pound on 17:43 - Sep 27 with 2206 views | The_Beast1976 |
"The meejah must take a huge slice of blame - they literally fall over themselves to turn a light shower into a Force 9 hurricane and like lemmings the British public laps it up and panics at every turn"
This is very true. I detest our media. The MSM would be banned if it wasn't all being orchestrated from the very top..... [Post edited 27 Sep 2022 17:43]
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| The Pound on 17:52 - Sep 27 with 2175 views | PlanetHonneywood |
10 pages. Nailed on.
Although by the time we get there, inflation will reduce it to nine. |  |
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| The Pound on 17:55 - Sep 27 with 2175 views | GloryHunter |
| The Pound on 11:21 - Sep 27 by ngbqpr |
Obviously I am on LFW for QPR news & chat and Clive's life-affirming writing.
However, football is the world's game, and I have often thought if you pick a football crowd at random, you will find every opinion under the sun housed within - from should we play a back 3 or a back 4 to debates like this one.
My point being, LFW is where I get out of my bubble of like minded friends and can read and debate contrasting views. I won't deny I use the block button now and again for those who I find especially confrontational - but I like the fact that this messageboard is equal parts football and wider issues. I was genuinely chuffed last week when Paul Parker nominated me as one of the "lefties he can debate sensibly with"; and genuinely enjoyed debating the monarchy with L Block during the jubilee. Love ya chaps ;)
This post has, though, left me completely open-mouthed (as did your one slightly further up the thread).
So I'm just going to settle for saying that it should be "you're mistaken", not "your mistaken." Sorry, cheap points scoring I know, but it's all I have the energy for. Right, I'm just off to indulge in some short sighted ignorance, with a dash of expecting everything for nothing - y'know, basic health care, roof over my head, that sort of thing. [Post edited 27 Sep 2022 15:40]
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I'm with you, ngb. It's not "cheap point scoring". I think we should be clamping down on poor punctuation, on the "broken windows theory" principle. You know, if you don't fix a broken window in the neighbourhood, then things escalate and next thing you know, society has collapsed, or something like that. |  | | |
| The Pound on 18:13 - Sep 27 with 2105 views | Lblock |
| The Pound on 15:44 - Sep 27 by Juzzie |
I must be a rarity because I started my pension when I was 21 and saved over the next half-dozen years which enabled me to pay the deposit on my flat which I bought in 1998. I was able to do this because I didn't have the latest shoes/clothes/holiday/car/motorbike/gadget etc. I purposely kept things tight in order to get where I am today which was gentle progressing until I now have a houae (still with a mortgage but not a millstone around my neck kind).
I absolutely will not be told by anyone who moans and bitches (Russian_Bot [or any current incarnation on here] who clearly hated boomers [I'm not a boomer though, later generation) ) that it's previous generations fault. I don't give a schit what other people/generations did/didn't do. I took it upon myself to be astute and forward thinking (if I say so myself!) and worked hard to get where I am today. I have friends the same age who are still renting because they spent their entire 20's, 30's and 40's on one long spend-fest. Their choice. |
Fair play and I echo that sentiment.
Some people say it’s selfish but you gotta do what’s best for you, your loved ones, your friends and the world at large in that order.
I wish I could go back and tell my younger self not to sack off pensions because I got burned in my early 20’s when one I was paying into collapsed costing me a few grand which felt like a kings ransom at the time. I thought “sod that, I’m going to spend that money enjoying myself” and I did and in reality I don’t regret that as I loved it.
At the same time I was absolutely working my arse off doing a job I hated / loved in equal measures (now hate more than love) and also earning money dabbling in a bit of DJ’ing and kept my weekend job for ages. I had the pep talk then about investing in bricks and mortar which scared the bee jeesus out of me but I made the leap. Moved from a flat to a house after about 7 years and did a massive renovation project on it using skills I’d learned in my day job. Then my Dad inspired me to overpay my mortgage whenever I could and that has made the biggest difference to my position in life and I’m eternally grateful for it.
I was in a good place until earlier this summer when I decided to take another mortgage out but I’m not moaning as I’m still okay and not in as scary a position as some may be.
I just cannot imagine the position some will be in and I’m old enough to remember vividly the stories of negative equity and people simply handing keys back as houses were a millstone dragging them under.
I suppose it’s important to remember we got through that and we’ll get through it again; but some will not survive or be burned badly and it’s them I feel sorry for the most.
The other thing I fear is the further fostering of the “what’s the point?” attitude so prevalent these days.
I dunno…. I really don’t |  |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| The Pound on 18:25 - Sep 27 with 2074 views | Sakura |
| The Pound on 11:21 - Sep 27 by ngbqpr |
Obviously I am on LFW for QPR news & chat and Clive's life-affirming writing.
However, football is the world's game, and I have often thought if you pick a football crowd at random, you will find every opinion under the sun housed within - from should we play a back 3 or a back 4 to debates like this one.
My point being, LFW is where I get out of my bubble of like minded friends and can read and debate contrasting views. I won't deny I use the block button now and again for those who I find especially confrontational - but I like the fact that this messageboard is equal parts football and wider issues. I was genuinely chuffed last week when Paul Parker nominated me as one of the "lefties he can debate sensibly with"; and genuinely enjoyed debating the monarchy with L Block during the jubilee. Love ya chaps ;)
This post has, though, left me completely open-mouthed (as did your one slightly further up the thread).
So I'm just going to settle for saying that it should be "you're mistaken", not "your mistaken." Sorry, cheap points scoring I know, but it's all I have the energy for. Right, I'm just off to indulge in some short sighted ignorance, with a dash of expecting everything for nothing - y'know, basic health care, roof over my head, that sort of thing. [Post edited 27 Sep 2022 15:40]
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If you do ever get the energy would be interested to hear how you think a young child today is being brought up in a country that has £2,400,000,000,000 of debt
That is literally borrowing money to spend more on repaying interest payments than on the Education system itself
The debt is rapidly growing. With all our intentions to grow it further
This debt has come about during a period of rapid technological advancement.
It has been brought about in peacetime. We haven't had any WW2 type events to justify it
It's the lack of self awareness and selfishness of the average British voter that I find morally wrong
This harm has always been a problem to pass down the line for another generation to deal with. Well now we are approaching that time that the consequences of our reckless living are felt
We're £2.4 trillion in debt. Like I said to spend that much money is the equivalent to spending £10m a day for 657 years continuously
To say the public doesn’t have any responsibility to that is disingenuous | | | |
| The Pound on 18:37 - Sep 27 with 2032 views | terryb |
| The Pound on 16:34 - Sep 27 by Watford_Ranger |
Absolutely. Can only play the cards you’re dealt. I think the ire is more towards the generation before yours who bought their houses for 50p and scoff at young people complaining while simultaneously daring to spend on anything beyond surviving. As ever, the real blame should be pointed at politicians. |
Really? Do you think it was easy buying a house for 50p, either making the repayments or being offered a mortgage in the first place?
Our first house, in Stowmarket, was purchased for £7,450 in 1974 by obtaining a mortgage for £6,650. A mortgage that my father had to personally guarentee as our combined income wasn't close to reaching the Building Society criteria, even though I had saved with them for years.
That first year was the hardest we had financially, having to stay in at night & a lot of weekends because nearly all our money was used on paying the mortgage, food & for energy. Later, when we had to pay 18% interest & only had the one income, it was a doddle compared to our start! Where our generation was helped, is that those renting were charged affordable rents from Councils rather than the extortionate charges made by property companies.
Not many of us 70 year olds could make any extra payments towards our pensions until we had passed two score years, although I had the luxury of working ten years for a company that operated a non-contributary pension. Thank you Tollemache & Cobbold Breweries!
Scoff at young perople? Certainly not. The problems we had are very similar to what people in their early 20's (or even approaching 40) have today. It was never easy & never will be. | | | |
| The Pound on 19:17 - Sep 27 with 1968 views | Watford_Ranger |
| The Pound on 18:37 - Sep 27 by terryb |
Really? Do you think it was easy buying a house for 50p, either making the repayments or being offered a mortgage in the first place?
Our first house, in Stowmarket, was purchased for £7,450 in 1974 by obtaining a mortgage for £6,650. A mortgage that my father had to personally guarentee as our combined income wasn't close to reaching the Building Society criteria, even though I had saved with them for years.
That first year was the hardest we had financially, having to stay in at night & a lot of weekends because nearly all our money was used on paying the mortgage, food & for energy. Later, when we had to pay 18% interest & only had the one income, it was a doddle compared to our start! Where our generation was helped, is that those renting were charged affordable rents from Councils rather than the extortionate charges made by property companies.
Not many of us 70 year olds could make any extra payments towards our pensions until we had passed two score years, although I had the luxury of working ten years for a company that operated a non-contributary pension. Thank you Tollemache & Cobbold Breweries!
Scoff at young perople? Certainly not. The problems we had are very similar to what people in their early 20's (or even approaching 40) have today. It was never easy & never will be. |
Relatively, yes. | | | |
| The Pound on 19:50 - Sep 27 with 1881 views | SheffieldHoop |
| The Pound on 15:08 - Sep 27 by BazzaInTheLoft |
You need to make your mind up mate.
You was destitute in a cramped bed sit a couple of months ago because of all the foreigners. |
Yeh I was - Now I've moved, and I'm renting the other place out. I'm sure that discovering I'm a landlord now will only enhance your opinion of me further.  |  |
| "Someone despises me. That's their problem." Marcus Aurelius |
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| The Pound on 20:03 - Sep 27 with 1864 views | terryb |
Andwhen you are a senior citizen will you accept that it was relatively easy for you compared to younger people at that time? That is, if there is a housing market then!
Far less than 50% of my age or older could afford or own their own houses until the Thatcher declaration that councils must sell their property to sitting tennants. This was not a policy I could/would argue against, but it was certainly the start of the housing crisis that has been in exsistence ever since.
Where I do think my birth decade of the 50's is lucky, is that we didn't encounter the negative equity that many a 60's child faced. To have bought a house & made repayments at the rate of interest charged, only to have it repocessed for a fraction of the price paid left many a person bankrupt. And the rental market for them had sky rocketed. And unemployment was prevalent, which the government insists is not the case nowadays!*
* It's amazing how unemployment figures drop after you've changed the rules on how to record them! | | | |
| The Pound on 21:05 - Sep 27 with 1765 views | Watford_Ranger |
| The Pound on 20:03 - Sep 27 by terryb |
Andwhen you are a senior citizen will you accept that it was relatively easy for you compared to younger people at that time? That is, if there is a housing market then!
Far less than 50% of my age or older could afford or own their own houses until the Thatcher declaration that councils must sell their property to sitting tennants. This was not a policy I could/would argue against, but it was certainly the start of the housing crisis that has been in exsistence ever since.
Where I do think my birth decade of the 50's is lucky, is that we didn't encounter the negative equity that many a 60's child faced. To have bought a house & made repayments at the rate of interest charged, only to have it repocessed for a fraction of the price paid left many a person bankrupt. And the rental market for them had sky rocketed. And unemployment was prevalent, which the government insists is not the case nowadays!*
* It's amazing how unemployment figures drop after you've changed the rules on how to record them! |
Think it’s an ‘if’ rather than a ‘when’ but I’d like to think my generation will remember how it got fcked by this and previous government and won’t vote for more of the same for its children/grandchildren. You may well be right though. | | | |
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