| Stock markets at record highs, meanwhile...... on 08:12 - Mar 2 with 2705 views | itfcjoe |
There is something seriously wrong with the Western world were the rich keep getting richer when they already have enough money to last them several lifetimes. |  |
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| Stock markets at record highs, meanwhile...... on 08:31 - Mar 2 with 2666 views | trncbluearmy |
| Stock markets at record highs, meanwhile...... on 08:12 - Mar 2 by itfcjoe |
There is something seriously wrong with the Western world were the rich keep getting richer when they already have enough money to last them several lifetimes. |
But it`s not only the rich getting richer is it?
It`s also those astute enough not to shove their hard earnt cash into the nearest crap BS/Bank cash ISA,but have done some personal research or/and obtain properly qualified professional advice.
There is money to be made for everybody.
One of the reasons I am so down on schools and teachers is they don`t actually teach anything of use. [Post edited 2 Mar 2017 8:32]
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| Stock markets at record highs, meanwhile...... on 08:34 - Mar 2 with 2644 views | Coastalblue |
| Stock markets at record highs, meanwhile...... on 08:31 - Mar 2 by trncbluearmy |
But it`s not only the rich getting richer is it?
It`s also those astute enough not to shove their hard earnt cash into the nearest crap BS/Bank cash ISA,but have done some personal research or/and obtain properly qualified professional advice.
There is money to be made for everybody.
One of the reasons I am so down on schools and teachers is they don`t actually teach anything of use. [Post edited 2 Mar 2017 8:32]
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Care to elaborate for some one possibly wishing to be more astute? |  |
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| Stock markets at record highs, meanwhile...... on 08:36 - Mar 2 with 2642 views | Benters |
| Stock markets at record highs, meanwhile...... on 08:12 - Mar 2 by itfcjoe |
There is something seriously wrong with the Western world were the rich keep getting richer when they already have enough money to last them several lifetimes. |
You are loaded though Joe ! |  |
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| Stock markets at record highs, meanwhile...... on 08:36 - Mar 2 with 2642 views | unbelievablue |
| Stock markets at record highs, meanwhile...... on 08:31 - Mar 2 by trncbluearmy |
But it`s not only the rich getting richer is it?
It`s also those astute enough not to shove their hard earnt cash into the nearest crap BS/Bank cash ISA,but have done some personal research or/and obtain properly qualified professional advice.
There is money to be made for everybody.
One of the reasons I am so down on schools and teachers is they don`t actually teach anything of use. [Post edited 2 Mar 2017 8:32]
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Is your definition of "of use" purely how to succeed financially then? |  |
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| Stock markets at record highs, meanwhile...... on 08:39 - Mar 2 with 2632 views | itfcjoe |
| Stock markets at record highs, meanwhile...... on 08:36 - Mar 2 by Benters |
You are loaded though Joe ! |
Firstly, I'm not.
Secondly, we also employ a hell of a lot of people both directly and indirectly so whatever we do have is used to invest in toher people rather than ourselves | |
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| Stock markets at record highs, meanwhile...... on 08:40 - Mar 2 with 2627 views | trncbluearmy |
| Stock markets at record highs, meanwhile...... on 08:34 - Mar 2 by Coastalblue |
Care to elaborate for some one possibly wishing to be more astute? |
https://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=ITSMT
a good starter for some personal research
https://www.ajbell.co.uk/
a good place for more research and buying and selling investments
and lastly look up Scottish Mortgage Investment Trust using the above tools
I recommended it to some someone on here about a year ago as a nice steady globally invested Trust,hope they took my advice! | | | |
| Stock markets at record highs, meanwhile...... on 08:42 - Mar 2 with 2603 views | Benters |
| Stock markets at record highs, meanwhile...... on 08:39 - Mar 2 by itfcjoe |
Firstly, I'm not.
Secondly, we also employ a hell of a lot of people both directly and indirectly so whatever we do have is used to invest in toher people rather than ourselves |
Sorry i thought you were as you are always building and selling houses?
There are no poor builders either employing or subbing out work. | |
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| Stock markets at record highs, meanwhile...... on 08:44 - Mar 2 with 2586 views | Reuser_is_God |
| Stock markets at record highs, meanwhile...... on 08:42 - Mar 2 by Benters |
Sorry i thought you were as you are always building and selling houses?
There are no poor builders either employing or subbing out work. |
I think Joe is talking about the mega rich people, not those like himself who are doing well with a small, in comparison, local business. |  |
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| Stock markets at record highs, meanwhile...... on 08:44 - Mar 2 with 2586 views | StokieBlue |
That's a spurious correlation. The article states the main cause which is a lack of affordable housing.
However it's sad that there are so many sleeping rough in such a great city (or anywhere else for that matter). Affordable housing is an issue for many western countries now.
SB |  |
| Avatar - IC410 - Tadpoles Nebula |
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| Stock markets at record highs, meanwhile...... on 08:48 - Mar 2 with 2564 views | itfcjoe |
| Stock markets at record highs, meanwhile...... on 08:42 - Mar 2 by Benters |
Sorry i thought you were as you are always building and selling houses?
There are no poor builders either employing or subbing out work. |
Most of our work is contracting, we've got a couple of houses which have just got on market which our our first ones as developer which we will do well off admittedly.
Builders are the ones taking all the risks, when the market crashes we are the ones left holding the baby - it's very different not being able to earn a proper days money compared to not being able to afford to bill work you've already paid out for.
One makes you unhappy and a bit poor, the other can bankrupt you. | |
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| Stock markets at record highs, meanwhile...... on 08:48 - Mar 2 with 2555 views | BanksterDebtSlave |
| Stock markets at record highs, meanwhile...... on 08:31 - Mar 2 by trncbluearmy |
But it`s not only the rich getting richer is it?
It`s also those astute enough not to shove their hard earnt cash into the nearest crap BS/Bank cash ISA,but have done some personal research or/and obtain properly qualified professional advice.
There is money to be made for everybody.
One of the reasons I am so down on schools and teachers is they don`t actually teach anything of use. [Post edited 2 Mar 2017 8:32]
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This only applies if you have money that you can afford to lose in the first place......and if you do that you are 'clever' enough to beat the herd and know when that bubble is going to pop ! Oh and a sociopathic disregard for how said wealth is created and associated environmental/social costs !
Regarding education, I agree it is strange that finance/economics isn't routinely taught.......however if kids were told how money is created then people might realise it would make more sense if it grew on trees
EDIT... http://positivemoney.org/ [Post edited 2 Mar 2017 8:58]
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| Stock markets at record highs, meanwhile...... on 08:54 - Mar 2 with 2534 views | BanksterDebtSlave |
| Stock markets at record highs, meanwhile...... on 08:44 - Mar 2 by StokieBlue |
That's a spurious correlation. The article states the main cause which is a lack of affordable housing.
However it's sad that there are so many sleeping rough in such a great city (or anywhere else for that matter). Affordable housing is an issue for many western countries now.
SB |
And one of the main reasons for that is those oh so clever investment funds needing somewhere to park their cash and thus inflating the buy to let or buy to leave empty bubble. | |
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| Stock markets at record highs, meanwhile...... on 09:13 - Mar 2 with 2485 views | Guthrum |
| Stock markets at record highs, meanwhile...... on 08:44 - Mar 2 by Reuser_is_God |
I think Joe is talking about the mega rich people, not those like himself who are doing well with a small, in comparison, local business. |
Altho the mega-rich (in the £100m+ net worth bracket) on the whole tend to be extremely philanthropic. Virtually all have grant making trusts to give away hundreds of thousands of pounds per year. An increasing number are declaring they will donate the bulk of their disposable fortunes in their lifetimes. They are also generally business owners (often creators), much of whose notional wealth is tied up in their company's shares.
The perceived "greed is good" fat cats are actually a pretty select group, those making an income from share dealing, high earners without necessarily being all that wealthy. |  |
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| Stock markets at record highs, meanwhile...... on 09:31 - Mar 2 with 2453 views | Guthrum |
Those who receive the most money from share trading are big financial institutions, the ones who are looking after ordinary people's pensions and savings.
This housing crisis is in part caused by loss of confidence in private pensions after the 2001 dot-com crash (during which billions was wiped off the value of pension funds). This led to people investing in rental property as a surer provision for their retirement. Which, inevitably, inflated that into a bubble as well, backed by dubious practices such as self-certification of income. Property at the bottom end of the scale was snapped up by investors/wannabe landlords, while developers built high-end apartments for commuters.
Councils, where they weren't shackled by policy and legislation, were hamstrung by lack of finance. Social housing had all been privatised anyway (once again there was the "workhouse dilemma", where something inherently unprofitable has to be made so).
And people often are not keen on agreeing for social housing to be built next to their own property, which they are desperate to keep in positive equity.
That's before we get into issues of mental health "Care in the Community", where provision is often so sketchy and under-resourced that many fall through the net and end up on the streets. The same with drug addicts.
But there is no money for any of this, because people would prefer to whingwe about these problem than pay (taxes) to sort them out. Except, ironically, many of the super-rich through their charitable trusts. | |
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| Stock markets at record highs, meanwhile...... on 09:33 - Mar 2 with 2441 views | Pendejo |
| Stock markets at record highs, meanwhile...... on 08:54 - Mar 2 by BanksterDebtSlave |
And one of the main reasons for that is those oh so clever investment funds needing somewhere to park their cash and thus inflating the buy to let or buy to leave empty bubble. |
OP is about NYC, so here's something closer to [my] home.
Almost 57,000 homes empty in London, 7,500 of which are council owned.
https://www.theguardian.com/commentisfree/2016/may/04/london-mayor-scandal-empty
http://www.standard.co.uk/news/london/shocking-waste-of-7500-council-homes-lying
and an estimated 170,000 homeless people, some of whom will be family groups
https://www.theguardian.com/uk-news/davehillblog/2016/dec/01/londons-homelessnes
The average salary in the City of London, is over £48k which on "sane" lending terms of 3.5 x salary = MAXIMUM mortgage of £178,000
The average price of a flat was over £500,000 with houses being comfortably over £600,000.
I often wonder how all the estate agents stay in business... surely London's property market isn't entirely funded by money laundering?
The stock markets, currency trading, and property are all in the "Emporer's new clothes" bracket at some point someone's going to notice they're not worth it and the whole thing tumbles, world financial armageddon maybe, then true armageddon.
Still let's all ignore this, and carry on whistling "I'm alright Jack" stylee. |  |
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| Stock markets at record highs, meanwhile...... on 09:38 - Mar 2 with 2415 views | Pinewoodblue |
| Stock markets at record highs, meanwhile...... on 08:12 - Mar 2 by itfcjoe |
There is something seriously wrong with the Western world were the rich keep getting richer when they already have enough money to last them several lifetimes. |
The homeless don't get a vote.
Should never forget those with a roof over their head who struggle. New York has had food banks for thirty years.
http://www.feedingamerica.org/find-your-local-foodbank/food-bank-for-new-york-ci |  |
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| Stock markets at record highs, meanwhile...... on 09:42 - Mar 2 with 2404 views | Guthrum |
| Stock markets at record highs, meanwhile...... on 09:33 - Mar 2 by Pendejo |
OP is about NYC, so here's something closer to [my] home.
Almost 57,000 homes empty in London, 7,500 of which are council owned.
https://www.theguardian.com/commentisfree/2016/may/04/london-mayor-scandal-empty
http://www.standard.co.uk/news/london/shocking-waste-of-7500-council-homes-lying
and an estimated 170,000 homeless people, some of whom will be family groups
https://www.theguardian.com/uk-news/davehillblog/2016/dec/01/londons-homelessnes
The average salary in the City of London, is over £48k which on "sane" lending terms of 3.5 x salary = MAXIMUM mortgage of £178,000
The average price of a flat was over £500,000 with houses being comfortably over £600,000.
I often wonder how all the estate agents stay in business... surely London's property market isn't entirely funded by money laundering?
The stock markets, currency trading, and property are all in the "Emporer's new clothes" bracket at some point someone's going to notice they're not worth it and the whole thing tumbles, world financial armageddon maybe, then true armageddon.
Still let's all ignore this, and carry on whistling "I'm alright Jack" stylee. |
One problem, which I came across many years ago in commercial property, is that an empty building rated at a high rent can be seen as more valuable than a full one at a lower level. This because the value is assessed as greater, thus more money can be raised as loans against it. Despite the lack of actual income.
Friend of mine was on the receiving end of that (as a tenant having the rent hugely increased), forced him out of business. | |
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| Stock markets at record highs, meanwhile...... on 19:43 - Mar 2 with 2258 views | StokieBlue |
| Stock markets at record highs, meanwhile...... on 08:54 - Mar 2 by BanksterDebtSlave |
And one of the main reasons for that is those oh so clever investment funds needing somewhere to park their cash and thus inflating the buy to let or buy to leave empty bubble. |
Surely you have just completely destroyed your point in your initial post?
If everyone was racking it from equities then people would likely be less risk adverse and piling into equity heavy funds leaving less for property based funds. It's not funds driving up prices as much as buy-to-let individual investors.
Doesn't fit your narrative though obviously.
SB | |
| Avatar - IC410 - Tadpoles Nebula |
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| Stock markets at record highs, meanwhile...... on 19:48 - Mar 2 with 2247 views | StokieBlue |
| Stock markets at record highs, meanwhile...... on 09:33 - Mar 2 by Pendejo |
OP is about NYC, so here's something closer to [my] home.
Almost 57,000 homes empty in London, 7,500 of which are council owned.
https://www.theguardian.com/commentisfree/2016/may/04/london-mayor-scandal-empty
http://www.standard.co.uk/news/london/shocking-waste-of-7500-council-homes-lying
and an estimated 170,000 homeless people, some of whom will be family groups
https://www.theguardian.com/uk-news/davehillblog/2016/dec/01/londons-homelessnes
The average salary in the City of London, is over £48k which on "sane" lending terms of 3.5 x salary = MAXIMUM mortgage of £178,000
The average price of a flat was over £500,000 with houses being comfortably over £600,000.
I often wonder how all the estate agents stay in business... surely London's property market isn't entirely funded by money laundering?
The stock markets, currency trading, and property are all in the "Emporer's new clothes" bracket at some point someone's going to notice they're not worth it and the whole thing tumbles, world financial armageddon maybe, then true armageddon.
Still let's all ignore this, and carry on whistling "I'm alright Jack" stylee. |
The London property market has certainly slowed, just search somewhere like Stoke Newington on Rightmove and you can see many reduced places - that never happened previously.
I don't think it's all going to tumble though, that would have happened in 2008 if it was going to happen. No government has a vested interest in letting property fall drastically - it's not a vote winner and hiking interest rates so people default is even less of a vote winner.
I totally agree with you that the number of empty homes is a scandal and that could definitely be tackled by a willing government.
SB [Post edited 2 Mar 2017 19:48]
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| Avatar - IC410 - Tadpoles Nebula |
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| Stock markets at record highs, meanwhile...... on 21:49 - Mar 2 with 2143 views | BanksterDebtSlave |
| Stock markets at record highs, meanwhile...... on 19:43 - Mar 2 by StokieBlue |
Surely you have just completely destroyed your point in your initial post?
If everyone was racking it from equities then people would likely be less risk adverse and piling into equity heavy funds leaving less for property based funds. It's not funds driving up prices as much as buy-to-let individual investors.
Doesn't fit your narrative though obviously.
SB |
The initial observation was to highlight that the value of stock markets, which is spuriously used to imply a healthy economy has no bearing on the reality of the lives of most of us. Hence, smoke and mirrors.....If properties were really being predominantly bought by buy to let individuals then why are so many left empty ?
Generally highs in the stock market occur just before a crash and tempt in individual investors...the bag holders. The most interesting part of The Big Short film for me was how the inevitable mortgage security crash was fraudulently delayed while the big players offset their losses as far as possible . | |
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| Stock markets at record highs, meanwhile...... on 08:01 - Mar 3 with 2044 views | oldbluestu |
Anything stopping those 62,000 following the same path those wealthy people took? |  | | |
| Stock markets at record highs, meanwhile...... on 08:04 - Mar 3 with 2033 views | Coastalblue |
| Stock markets at record highs, meanwhile...... on 08:01 - Mar 3 by oldbluestu |
Anything stopping those 62,000 following the same path those wealthy people took? |
Like maybe a solid family home, decent education and maybe a little seed money to start with? I expect most of them could have that if they asked. | |
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| Stock markets at record highs, meanwhile...... on 08:05 - Mar 3 with 2028 views | nodge_blue |
everyone has a vested interest in the stock market. If you work and have a pension, it will be invested in the stock market. If stock market is high then generally its means companies doing ok, which means people have jobs. Stock markets arent for the rich - they are for everyone. |  |
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