NogintheNog

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  1. I use BV. Zurich for me!
  2. At least Norway has a sovereign fund that outweighs it debt. Unlike the UK!
  3. Okay, so I've had a think about it. Firstly it's clear that Scandinavian countries in general pay much higher taxes for their generous state provisions. In terms of "inefficient private rail companies, bus companies, water companies, electricity companies, home builders and building services contractors" are you seriously suggesting that the government nationalises them all. Hang on, while we are at it lets nationalise Tescos, Sansburys and Waitrose, they are essential services and public ownership would serve everyone! From my viewpoint the local buses and trains are pretty good, I have a choice of gas and electricity suppliers and I have clean water at a fair price. I can't speak for other areas I admit! I just look back at some of our previous attempts with Nationalised Industries and they seemed to always end in failure, with good money thrown in with a seemingly open chequebook. I'm not sure quite how the NUM would have got involved with the UK oil bonanza. My point was that the industry could not be expected to be propped up by UK plc as it's coal product was no longer going to be needed. Possibly those soon to be unemployed miners should have been paid to retrain into the oil industry. I'm sure some would have ended up there. Yes, the sovereign wealth fund of Norway may have been a good idea for the UK. According to Wikipedia in 2017 "With a population of 5.2 million people, the fund was worth $192,307 per Norwegian citizen" invested in global stocks, property bonds currencies etc. You have said; I have to disagree, firstly it's not a multi-trillion pound fund, it is just a one trillion US dollar ($) fund. Put that same one trillion$ into the UK population of 66.7 million and you get $14,992 per UK citizen, or £11,715 per person in pounds sterling.
  4. Yes, that is what should have happened! That recession in many ways helped the poor who had nothing anyway. If they could get into work amongst all the unemployment they may have been able to buy a cheaper house or afford cheaper rent. We have bypassed that whole cycle (well so far....) Recessions cleanse the system, but we skipped one. I believe the majority are worse off as they have had ten years of wage growth below inflation, and zero interest on capital savings. That is why I think we have had no productivity increases since the GFC, as the majority have had to pay all that QE (or the effects of it!)
  5. Yes I saw the Chavez documentary - really interesting. At the time he was with JC all was well in Venezuela, his socialist utopia seemed to be able to move mountains on the way to the ideal society. Of course that's not the case now, as the money that should have been re invested into the countries cash cow (the oil reserves and infrastructure) was redistributed to everyone else but with nothing coming out of the other end in terms of productivity. They are still trying to do that with half the production of ten years ago, as the ageing infrastructure fails and reduces output. The model now looks like the soviet union on steroids! What is sad is that Chavez wanted to do the right things for the poor in his society, of that I have no doubt. I think JC wants to do the right thing also, but his nationalisation model will fail as taxpayers prop up protected and increasingly inefficient industries. What would have happened if Scargill had beaten Thatcher in the UK coal disputes with the National Union of Mine workers, what would we be doing with all that coal?
  6. I can see a Corbyn Labour government doing this, as well as nationalising everything under the sun they don't like. However I think the conservatives at least might understand how increasing deficits to pay higher rates on will come back to bite them in the not too distant future. We may well get a Corbyn government though! Buy Gold and commodities!
  7. Do you own the Yellow metal??? v AUD
  8. I certainly agree that GM is a fcuked up company. It reminds me a bit of the UK governments involvement in British Leyland all those years ago! GM, Chrysler-Fiat and Ford all got bailed in the 2008/9 financial crisis, and lets not forget the US import tax of 25% on imported trucks that 'protects' these producers in the US; https://www.forbes.com/sites/doronlevin/2018/03/27/want-to-sink-detroit-automakers-make-a-trade-deal-that-weakens-tariff-protecting-pickups/ I'm sure these workers will get another job when they are turfed out, but will they be manufacturing something, or will they be flipping burgers at MacDonalds?
  9. Surely that's an oxymoron to coin a phrase. Why would they back out of these dollar holdings if the dollar is going to be the last man standing???
  10. I disagree. https://www.nytimes.com/2018/11/26/business/general-motors-cutbacks.html
  11. Yes a very telling chart with respect to what a credit deflation (aka 2008) does to virtually every asset class. What also stands out (to me anyway) is those EM stocks in purple. They are either at the top, or at the bottom. I'm sure for 2018 they'll be bottom again as the strong dollar takes its toll, but I'd put money on them being at the top in 2019!
  12. NogintheNog

    Last share you bought?

    Very true, provided you are absolutely confident in their long term ability to perform.... I'm living in hope! These are long term holds for me.
  13. I know the feeling. Just bought another batch of FRES only to watch it drop again Me thinks it's time to get ready for the continuation of the 2008/9 deflation.....
  14. NogintheNog

    Gold and Other Precious Metal Investing

    Harry Dent changes his mind on Gold..... He states that there's not enough Gold in the modern era to support the world economy. That is of course a load of tosh! There's just not enough Gold in the modern era to support the world economy at $1200 an ounce.
  15. I used to work for the once great Monarch, although I left in 2015 just as the shit was really hitting the fan and the Mantagazza family who owned it were on their way out of the door. They were making hay in the days when the old A300B6's and Boeing 757's were rotating 3 times a day out of the Canaries and the rest of the Med, the A300's with 360 pax on each sector! We also had our two A330's rotating on Long Haul destinations to the Caribbean, Goa, and the Maldives. Great days to be crew! The Company never declared much profit though, as most of it got funneled out to the Mantagazzas leasing companies based in the Caymen Islands! LOL! The writing was on the wall as soon as those aircraft came to the end of their serviceable life, and reliability suffered. Delays aren't accepted by the traveling public now, or the Charterers who Monarch were flying for. The remaining fleet of A321 Airbuses (Short Haul only and now owned by Greybull capital) was trying to compete with Ryanair and Easyjet, along with BA and Norwegian on scheduled routes. That never really worked, and there was never any offers to Greybull for the carcass left leading to failure in Oct 2017. Flybe??? Yes, possibly worth a gamble, very different to Monarch! I hope it works for you Barnsey!