Most people don’t see that they just hang on watching it devalue.so what would you do if you had a theoretical 1 million pounds in the bank thats worth 10% less every year ?
Classic cars.so what would you do if you had a theoretical 1 million pounds in the bank thats worth 10% less every year ?
and waste money/screw up the national census (so it could be Scottish/different from the "English" one), so much so, that it's results north of the border can't be used as statistically not enough people bothered to fill it in.It just employs more people and costs the people (that is all of us, be you Scottish, Welsh or Cornish) more money. I note the SNP managed to botch the procurement of two (yes, just two) ferries which still are not completed but leave the exchequer with a 140 million black hole? And folk want to hand total governmental responsibility to them? Good luck with that.
Well it’s difficult to say but previously for back many years land has been a good investment and has had small peaks and troughs not made as much as some things but fairly safe and tax friendlycorrect there isn't but when land around here sold for 10000/a not many years ago [6 or 7 ] and now its heading for double that it makes you think , will it go again ?
That’s not 100% true but is probably more than half trueLand is not going up, the pound is going down
And yet everyone keeps voting for them? Same in Wales with Labour, I think we have forgotten that during lockdown the Labour party in Cardiff decided what items we were allowed to buy in supermarkets! As everyone knows, Covid spreads like mad if you buy a pair of socks, however, it doesn't seem to spread in the same way if you buy a tin of baked beans!!!At the time I was fairly keen on devolution, because Scotland did have some honest and decent politicians who came and stood as MSP’s. Sadly as they moved on the next generations have proved themselves totally inept, and fiscally stupid. Devolution is probably the best argument against independence now. We would be bankrupt as a country if we were stood on our own now.
As always give someone enough rope and time and they will hang themselves. SNP couldn’t run a pee up in a brewery
lend it to 4-5* young couples to buy their first home?so what would you do if you had a theoretical 1 million pounds in the bank thats worth 10% less every year ?
pre-electronic control tractors and plant?Classic cars.
That will definitely end in tears.They wont want recession on their watch sonwill keep printimg .
Offshoring our "carbon footprint" innit. The ultimate game of quick, look over there. Fekking scandalous. All built around the fantasy notion that natural gas contains magical carbon that they can fiddle the figures on to try to hoodwink anyone that doesn’t care. Anyone that does care knows they’re idiots.Stopping investment in the North Sea, stopping investment in fracking and allowing UK Oil companies to invest in Russia and import Russian fossil fuels.
Isn't it obvious ?
As regards a bung, no mistake Russian Billionaires with Houses right next to Number 10
Nicola Sturgeon went out of her way to stop North Sea investment.
IMO the problem up here is the complete lack of any opposition leader of any ability or substance to challenge the SNP. Wee nippy has the whole press barking to her tune as well, so she doesn’t face any unwanted questions.And yet everyone keeps voting for them? Same in Wales with Labour, I think we have forgotten that during lockdown the Labour party in Cardiff decided what items we were allowed to buy in supermarkets! As everyone knows, Covid spreads like mad if you buy a pair of socks, however, it doesn't seem to spread in the same way if you buy a tin of baked beans!!!
Not necessaarily the same people. Same type of people yes, but the lesson they’ve learned from 2008 is that they now understand that there is no penalty, everyone will be bailed out so carry on boys, fill yer boots, you’ll get away with it. No one cares about the little people, least of all govts around the world.Agreed but it’s the policy since the banks collapsed that’s largely led to the problems we’re seeing today. This has been of the governments making, not the banks.
Greed always destroys markets, the problem was in 2008, it wasn’t allowed to destroy the market as it should have been and we still have the same people or their acolytes running the same institutions as before the crash.
100% nail on head , ruth d was the only one gave her any heat now she has gone , freedom for the ass holes, it will end badly .IMO the problem up here is the complete lack of any opposition leader of any ability or substance to challenge the SNP. Wee nippy has the whole press barking to her tune as well, so she doesn’t face any unwanted questions.
There have been a whole host of open goals up here for a decent opposition leader to take the snp down and all have been missed. And all the time the Braveheart nationalists keep marching and demanding independence, while never actually considering what the reality is.
Of course having a clown in No10 only adds fuel to their cause.
Good post. Not sure about the bit about Russia at the end (don’t really have an opinion on how strategically clever the Russians are or are deemed to be).If we go back in time my understanding of banks and lending was to have some people who had money in reserve to put that into an account which paid interest whereby that money was lent out in a responsible way to people who wanted to develop their businesses etc in exchange for payment.
That got changed to something called the fractional reserve whereby for every pound the bank had invested or deposited by a customer the bank could lend that money out x 10. So if I put a pound in a bank account the bank could lend out 10 pounds. It then changed again whereby certain borrowings had to have the fractional reserve applied ie overdrafts but loans were exempt from this and banks didn’t have to hold any money deposited. Money printing had been going on throughout this.
In 2016 the fractional reserve was scrapped so the ratio of 1:10 did no longer apply they went onto the pyramid scheme where at the bottom of the triangle there was a layer of money but above that was basically printed money or electronic money which didn’t exist. Money lent out is just sent electronically as numbers on paper. When things look short at the bottom of the pyramid they print more which dilutes what there actually is. Money is made from debt not saving. Inflation erodes savings of cash. Hard to get your head around it. Lending out 10 x what’s invested dilutes it too.
Banks keep balance sheets and their assets are actually loans with interest charges which are put on their sheets as a plus or asset. These can be traded bought and sold for money, which is what caused most of the problem in 2009.
Money has no true value gold, silver ,oil, land has a true value. Look at crypto for example.
Personally I think that the boe and government have been keeping the value of sterling artificially high for the benefit of the financial system or bubble in London and they have kicked that can down the road for too many times now it’s not going much further before trouble appears.
Russia who has added to this problem seemed to know when to strike the western economies. They have a poor set of accounts but low borrowings and lower commitment to social welfare payments. They are rich in land minerals oil coal gas or let’s say energy. They are moving currency values away from artificial things to true values, hence what they are doing moving the dollar away from oil and moving their money in. They know half the American dollars in circulation are printed money probably a lot of the UKs are too.
Stopping investment in the North Sea, stopping investment in fracking and allowing UK Oil companies to invest in Russia and import Russian fossil fuels.
Isn't it obvious ?
As regards a bung, no mistake Russian Billionaires with Houses right next to Number 10
Nicola Sturgeon went out of her way to stop North Sea investment.
And then, thanks to Gordon Brown and his removal of indexation allowance, when you come to sell your asset in 20 years time the govt will take away a large portion of your increase in value, thereby helping themselves to the inflation they’ve created, so you’ve basically lost a lot of money in real terms even though you thought you’d merely kept pace with inflation because your asset was appreciating.Most people don’t see that they just hang on watching it devalue.
Invest it in something which is inflation proof and hopefully will provide an income too
There’s not that much to choose from at the moment