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About Hardhat

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  1. It would be alright unless you really want to go swimming.
  2. So what you're saying is... not saying that at all Ms Newman! If you need housing, but you don't want to buy a house, you can rent, or live in a camper van or get a council house. If you need a degree for your career, you don't have much choice apart from going to university. If you are bright but don't come from money, you need to take out a loan. It might be a financial decision, but it is essentially made for you by the system. There is only one loans provider. The repayments are deducted automatically and you can't negotiate on them. The govt can retroactively change the terms of the loan. But without one you can't study, and you're back in the stock room at Foot Locker whilst all your mates become brain surgeons. Of course maybe it's better to educate fewer people to degree level and have them state funded, and reintroduce polys, vocational training or better apprenticeships, as well as some kind of adult learning. If people want to discuss student loans shall we start a separate thread for this?
  3. Honestly people are 17 when they make this decision... their parents aren't always clued up. Like mine, they saw it as a success for me to go to uni (mum didn't go and she was very keen for me to go). And to be honest when I was 17 it was the best option available to me. Better than working in a shop or a pub, which I did anyway. At least I was learning something. Just wish I wasn't still paying through the nose for it (circa 250 /month, but the highest it's ever been with a lot of overtime was 560) and it's deducted automatically from the monthly gross so it means I can't budget wthe repayment or pay back a regular amount. Whatever I earn it's a percentage. I didn't even get asked for my degree when I started my current career. I started as a labourer!
  4. I'm quite keen on this idea. Put all assets in gold. Bury gold in safe location. Take out huge unsecured loans. Pay off student debt. Go bankrupt. X marks the spot. How's that for a debt deflation ? 😉
  5. I've got a student loan and I can't tell you how much I resent paying it...
  6. Hardhat

    Old Concrete Garages

    As long as you don't have to drill it, cut it or otherwise expose the fibres / create dust you should be ok. That said, it is extremely hazardous and you need to make sure the mask you are using is rated and fitted correctly. Even better, use a disposable overall and bin it afterwards. The truth is that most buildings built before 1999 may have asbestos in some element of their materials, it even used to be mixed into concrete so a lot of the time you can't tell it's there unless you lab test it. Frequent exposure to it will certainly give you asbestosis, but a one off job is fairly unlikely to result in serious health problems if you wear PPE and handle it correctly. The scandalous thing is that the construction industry pays so much less attention to the risks of silicosis, when most builders will breathe in plasterboard and cement dust day after day (often between fag breaks...).
  7. First 25 silver coins arrived from CoinInvest today. I had to laugh as I held one in my hand, thinking how all this stuff I read online every day has now become reality...
  8. Hardhat

    Why can’t you afford a home?

    Can't say I've read the whole thing, although I probably will download it. For me it's fascinating that the viewpoint we've been reading about on ToS/ on here for years is finally being articulated by the "mainstream" / "academic" media. Only a decade too late for most of us...
  9. https://medium.com/iipp-blog/why-cant-you-afford-a-home-9c5cf009be21 A new book on the housing crisis. Interesting to think that this version of the narrative might take over from "build more houses!" Extract: Money creation, bank lending and house prices When property prices rise faster than incomes, it becomes harder to buy a home. Mortgage loans bridge this gap, allowing households to access home ownership without having to save for many years. But there is a side-effect. Banks create new money in the act of lending. When a bank makes a loan, it creates both an asset (the loan) and a liability upon itself in the form of a new deposit in the bank account of the borrower. No money is borrowed from elsewhere in the economy. The main limit on bank money creation is the bank’s own confidence that the loan will be repaid. If mortgage lending supports the building of new homes, this new money can be absorbed into the economy. However, in most cases mortgage finance enables people to buy existing property on existing land. As households, supported by banks, compete to purchase, the result is increasing land and house prices. Higher prices lead to more demand for mortgage credit, which further pumps up prices, and so on. This feedback cycle runs against standard economic theory where an increase in the supply of goods, all else being equal, should eventually lead to a fall in prices. An ‘equilibrium’ price will be reached at the point when the quantity of goods supplied exactly matches the demand for them. But with bank credit and land, we have two phenomena that are quite unlike standard commodities. Bank credit is highly elastic and essentially infinite; in contrast land, as discussed in the preceding chapter, is inherently inelastic due to its scarcity.
  10. Hardhat

    Crowdfunding Seedrs

    True. The convenience of currency transfers in and app is great though, especially if you're moving through different countries often (as I do for work). That said I seem to remember I had a bit of trouble setting it up and there were a lot of bugs.
  11. Hardhat

    Crowdfunding Seedrs

    Revolut was a good call. It's becoming the new Monzo, I.e. everyone has one. But Monzo seems to capture the 18-35 demographic whereas revolut seems to be being adopted by all ages.
  12. Good to know. Need to get some funds in to gdx asap. HL has a low fee iirc?
  13. Hardhat

    The Big Short Thread

    What's your thinking on Netflix? I have a friend who works for them on film productions, says they are spending a lot of money on original content, typically much more per series than BBC, ITV, Ch4 etc., and even more than Sky and HBO. On the other hand, most people I know are now subscribers. Market saturation and high production costs leading to overvaluation?
  14. It's crazy how obvious this is, and yet in my experience (construction industry) the people who can truly and consistently do this, at all levels, are like gold dust. I was a self employed contractor for a few years but I went full time employed about 4 years ago with a company that offered me training / progression away from being "on the tools" to project management. I am still in my (late) 20s so I felt it was the right choice for the future to get some qualifications and experience. The money is good now (though I took a slight cut originally) and the work is interesting. There also isn't the chance I will have a quiet few months and start eating in to my savings. I'd still consider going contractor as a PM in the future or starting my own business. I have also been recently using my holiday allowance to do lucrative contracts for other companies, and doing odd jobs at the weekends for local shops etc. Bit worried about a general downturn in construction so trying to make hay while the sun shines, but I have also worked abroad extensively and wouldn't say no to moving abroad for a while if the UK slows right down. Time to diversify as well maybe...
  15. I'm considering adding some more Bitcoin if it floors - but maybe just emotions getting the better of me for not buying more when it was ~2k and not selling when it was around 10k! My plan was always to hold a small investment for 3-4 years just out of curiosity really. Wasn't expecting the rocket in Dec 2017 at all. The question is was it a one time event?