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Credit deflation and the reflation cycle to come.


DurhamBorn

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1 hour ago, null; said:

One of the reasons I tend to keep some debt running on 0% credit cards.

The money I got back from PPI made me realise that being sometimes there are rewards for not being prudent. I was recently told of someone who got a total £10k from PPI. This was someone in a well paid job but over the years had lots of loans. While that sounds great, how much in interest did the loans cost them over those years?

I would like to try and get the best of both worlds, the benefits of being prudent but also having a stake in potential rewards for not being prudent.

I would not be surprised if in around 5-10 years time there is a government debt scrappage scheme. Maybe not quite a write your debts off, but perhaps long term government replacement loans at 0%. If I can borrow at 0% I'll take as much as I can lay my hands on.

I've mentioned before that one more likely possibility is the reintroduction of tax relief for debt interest payments (and all debt, not just mortgage).   This is a bad policy for a number of reasons, but allows for some relief on debt without being 'obviously bad' to the general population (ie, compared with writing off debt, even though it has a similar effect).

If they do it It'll come in just as interest rates start to properly rise.

Oh, and they'll do it just before a general election, as there's no point in doing these things if you don't see the benefit in the ballot box.  Introduction for start of FY22-23 would be just in time for the '22 elections.  

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37 minutes ago, dgul said:

I've mentioned before that one more likely possibility is the reintroduction of tax relief for debt interest payments (and all debt, not just mortgage).  

Like companies!

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Democorruptcy
51 minutes ago, dgul said:

I've mentioned before that one more likely possibility is the reintroduction of tax relief for debt interest payments (and all debt, not just mortgage).   This is a bad policy for a number of reasons, but allows for some relief on debt without being 'obviously bad' to the general population (ie, compared with writing off debt, even though it has a similar effect).

If they do it It'll come in just as interest rates start to properly rise.

Oh, and they'll do it just before a general election, as there's no point in doing these things if you don't see the benefit in the ballot box.  Introduction for start of FY22-23 would be just in time for the '22 elections.  

With a tax on unearned income to pay for it. It's only fair innit? People with money in the bank helping the "needy". The relief comes before the election and the tax after.

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Talking Monkey
1 hour ago, dgul said:

I've mentioned before that one more likely possibility is the reintroduction of tax relief for debt interest payments (and all debt, not just mortgage).   This is a bad policy for a number of reasons, but allows for some relief on debt without being 'obviously bad' to the general population (ie, compared with writing off debt, even though it has a similar effect).

If they do it It'll come in just as interest rates start to properly rise.

Oh, and they'll do it just before a general election, as there's no point in doing these things if you don't see the benefit in the ballot box.  Introduction for start of FY22-23 would be just in time for the '22 elections.  

wouldn't that really reduce the tax take big time

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12 minutes ago, Talking Monkey said:

wouldn't that really reduce the tax take big time

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! 

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Democorruptcy
38 minutes ago, NogintheNog said:

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! 

Did you see the Hugo Chavez documentary this week? Jeremy Corbyn was there with him. It's here on BBC iPlayer

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On 17/01/2019 at 22:58, DurhamBorn said:

The Royal Mint has also seen a big increase in people buying gold and silver coins.

https://gulfnews.com/business/markets/brexit-turmoil-spurs-uk-investors-to-buy-gold-1.61496692

Interesting that Bullion Vault saw a big sell off ... could people be valuing the security of physically owning the coins more than their potential as an online investment vehicle?

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Democorruptcy
14 minutes ago, zugzwang said:

For how long? In what capacity? 

When I posted that I thought Corbynite zugzwang will be along shortly :Jumping:

You are true to your hero. Maybe that's what I could ask Santa for next year? A political hero? It's something I've never had but I'd like a good one.

It was a documentary about Chavez not Corbyn, so Jeremy wasn't in it much. He seemed to be doing plenty of Soprano type back slapping on Chavez at rallies.

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41 minutes ago, Democorruptcy said:

When I posted that I thought Corbynite zugzwang will be along shortly :Jumping:

You are true to your hero. Maybe that's what I could ask Santa for next year? A political hero? It's something I've never had but I'd like a good one.

It was a documentary about Chavez not Corbyn, so Jeremy wasn't in it much. He seemed to be doing plenty of Soprano type back slapping on Chavez at rallies.

I like JC but not uncritically. The campaign of personal abuse and vilification ranged against him by the yellow press and the so-called BBC is quite extraordinary though. I guessed this was more of the same.

Screen-Shot-2018-03-18-at-18.49.48.png

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5 minutes ago, zugzwang said:

I like JC

May you explain why you do? I'm not really up to speed on his achievements. But I understand he's been an MP for thirty odd years.  He's certainly not a great orator, makes himself an easy target for jibes and struggles to raise a half decent comeback during PMQ's. From what little I've seen of him so I do find it quite astonishing he is where he is so fair play to him. But then you only have to look at his colleagues performance on QT to see the bar isn't raised very high. Should he find himself in the hotseat it will be interesting to see what happens. Do we get the economic catastrophe that is predicted, re-nationalization of the infrastructure or more of the same....

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Democorruptcy
35 minutes ago, zugzwang said:

I like JC but not uncritically. The campaign of personal abuse and vilification ranged against him by the yellow press and the so-called BBC is quite extraordinary though. I guessed this was more of the same.

 

It's his own fault, he obviously hasn't promised enough favours to the right faces, if he were to get in. He's learning though, his take 'no deal' off the table will be earning him some points.

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7 hours ago, null; said:

One of the reasons I tend to keep some debt running on 0% credit cards.

The money I got back from PPI made me realise that being sometimes there are rewards for not being prudent. I was recently told of someone who got a total £10k from PPI. This was someone in a well paid job but over the years had lots of loans. While that sounds great, how much in interest did the loans cost them over those years?

I would like to try and get the best of both worlds, the benefits of being prudent but also having a stake in potential rewards for not being prudent.

I would not be surprised if in around 5-10 years time there is a government debt scrappage scheme. Maybe not quite a write your debts off, but perhaps long term government replacement loans at 0%. If I can borrow at 0% I'll take as much as I can lay my hands on.

Well why not, they let the banks do it at submarket rates through FLS and Carney keeping rates historically low for the last ten years!...oh no, that won't be allowed as you won't be providing them with their comfortable post parliament directorship!

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3 hours ago, A_P said:

May you explain why you do? I'm not really up to speed on his achievements. But I understand he's been an MP for thirty odd years.  He's certainly not a great orator, makes himself an easy target for jibes and struggles to raise a half decent comeback during PMQ's. From what little I've seen of him so I do find it quite astonishing he is where he is so fair play to him. But then you only have to look at his colleagues performance on QT to see the bar isn't raised very high. Should he find himself in the hotseat it will be interesting to see what happens. Do we get the economic catastrophe that is predicted, re-nationalization of the infrastructure or more of the same....

Don't listen to what they say, watch what they do!

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9 hours ago, zugzwang said:

I like JC but not uncritically. The campaign of personal abuse and vilification ranged against him by the yellow press and the so-called BBC is quite extraordinary though. I guessed this was more of the same.

Screen-Shot-2018-03-18-at-18.49.48.png

Not only him
https://www.rt.com/uk/449182-diane-abbott-labour-polls-bbc/

I think there is a nucleus of politicians who genuinely terrify TPTB and have to be put down at all costs. Trump being the obvious example.

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13 hours ago, A_P said:

May you explain why you do? I'm not really up to speed on his achievements. But I understand he's been an MP for thirty odd years.  He's certainly not a great orator, makes himself an easy target for jibes and struggles to raise a half decent comeback during PMQ's. From what little I've seen of him so I do find it quite astonishing he is where he is so fair play to him. But then you only have to look at his colleagues performance on QT to see the bar isn't raised very high. Should he find himself in the hotseat it will be interesting to see what happens. Do we get the economic catastrophe that is predicted, re-nationalization of the infrastructure or more of the same....

You need to look at his voting record.. voted against all wars, including Blair’s war

He stands for improved living standards for all, not exploitation of the middle and lower classes for profit. 

I do worry about his humanitarian stance on open door immigration, but I have heard him say that immigration does drive down wages and put pressure on services in a interview, so clearly he is not completely out of touch on the reality of what further immigration could do..

lets face it Tories talk tough on issues of population increase, but like previous elites they are hooked on cheap labour like a bunch of crack whores.. and sod the consequences to the people..

Tories don’t care about the planet, pro fracking, pro nuclear, pro airport expansion.. 

More Tories are landlords, own land, other property and are funded by those with large amounts of assets.. So again it’s fuck the poor until they starve or freeze.. 

Tories voted down/talked out making rental accommodation fit for human inhabitation 3 times I think.. 

Tories banned councils from building social housing, created PFI , created help to sell, increased U.K. debt by over £1 trillion whilst slashing police by 20’000 officers and 30’000 back of house staff, they privatised the water companies to offshore tax havens, give NHS contracts to tax dodgers.. Immigration has not gone down, well only the Brexit slow down due to some uncertainty for new arrivals.. 

You need to look past the spin and just look at the facts.. 

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4 hours ago, macca said:

You need to look at his voting record.. voted against all wars, including Blair’s war

He stands for improved living standards for all, not exploitation of the middle and lower classes for profit. 

I do worry about his humanitarian stance on open door immigration, but I have heard him say that immigration does drive down wages and put pressure on services in a interview, so clearly he is not completely out of touch on the reality of what further immigration could do..

lets face it Tories talk tough on issues of population increase, but like previous elites they are hooked on cheap labour like a bunch of crack whores.. and sod the consequences to the people..

Tories don’t care about the planet, pro fracking, pro nuclear, pro airport expansion.. 

More Tories are landlords, own land, other property and are funded by those with large amounts of assets.. So again it’s fuck the poor until they starve or freeze.. 

Tories voted down/talked out making rental accommodation fit for human inhabitation 3 times I think.. 

Tories banned councils from building social housing, created PFI , created help to sell, increased U.K. debt by over £1 trillion whilst slashing police by 20’000 officers and 30’000 back of house staff, they privatised the water companies to offshore tax havens, give NHS contracts to tax dodgers.. Immigration has not gone down, well only the Brexit slow down due to some uncertainty for new arrivals.. 

You need to look past the spin and just look at the facts.. 

So the attraction is his voting record? Interesting. Easy to vote the other way when you know which way the majority will go I suppose. Let's see how that record goes if he finds himself in the hot seat.

I just find the whole allure a bit strange and genuinely interested why people like  him or any other pol for that matter. Although I do get the attraction with some of them eg JRM.

I don't think I need to do anymore than I'm doing. The MSM and the political pantomime isn't for me anymore. I only watched Qt on Thursday because Isobel was on 😁

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5 hours ago, macca said:

You need to look at his voting record.. voted against all wars, including Blair’s war

He stands for improved living standards for all, not exploitation of the middle and lower classes for profit. 

I do worry about his humanitarian stance on open door immigration, but I have heard him say that immigration does drive down wages and put pressure on services in a interview, so clearly he is not completely out of touch on the reality of what further immigration could do..

lets face it Tories talk tough on issues of population increase, but like previous elites they are hooked on cheap labour like a bunch of crack whores.. and sod the consequences to the people..

Tories don’t care about the planet, pro fracking, pro nuclear, pro airport expansion.. 

More Tories are landlords, own land, other property and are funded by those with large amounts of assets.. So again it’s fuck the poor until they starve or freeze.. 

Tories voted down/talked out making rental accommodation fit for human inhabitation 3 times I think.. 

Tories banned councils from building social housing, created PFI , created help to sell, increased U.K. debt by over £1 trillion whilst slashing police by 20’000 officers and 30’000 back of house staff, they privatised the water companies to offshore tax havens, give NHS contracts to tax dodgers.. Immigration has not gone down, well only the Brexit slow down due to some uncertainty for new arrivals.. 

You need to look past the spin and just look at the facts.. 

Agree, but can I add most Labour (most self-serving politicians in fact) MPs are the same...and whilst the populus allow themselves to get drawn in to the Red vs Blue team both parties together are laughing at our naivety and personally profiteering from it!...Ask yourself how competent/`fit for purpose` is our current parliament?...the sooner we do this as an electorate the sooner things will change for the better!

Sorry off topic I know, lets get back to making money...or at least preserving it.

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