- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: The left-field threat to Europe ...
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "The left-field threat to Europe ..."
Collapse
-
Originally posted by AtW View PostWow, I've just checked and he is not just KBE, but GBE - Knight Grand Cross - highest rank in the order!
I guess that and five million quid in a pension pot would do the trick.
Bank of England, established 27 July 1694.
Current position according to Wikipedia:
Reserves
£7,334,000,000 (in gold)
£229,599,000,000 (total assets)
Source: Bank of England - Wikipedia, the free encyclopedia
So, the real deal (gold) is around 3% of "assets" - 230 bln of them, amazing growth from just 97 bln of "assets" in 2008 (PDF) and 77 bln in 2007 (PDF), trippling assets in just 4 years, what a good banker he is!
Leave a comment:
-
Originally posted by TimberWolf View PostMerv gets showered with honours and money and perhaps they expect private sector wages to rise faster
I guess that and five million quid in a pension pot would do the trick.
Bank of England, established 27 July 1694.
Current position according to Wikipedia:
Reserves
£7,334,000,000 (in gold)
£229,599,000,000 (total assets)
Source: Bank of England - Wikipedia, the free encyclopedia
So, the real deal (gold) is around 3% of "assets" - 230 bln of them, amazing growth from just 97 bln of "assets" in 2008 (PDF) and 77 bln in 2007 (PDF), trippling assets in just 4 years, what a good banker he is!
Leave a comment:
-
Originally posted by AtW View Post...and index linked pay raises for public sector will increase costs even further.
Leave a comment:
-
Originally posted by sasguru View PostFFS we're talking macro-economics and fiscal and monetary policy here, not how Mr. Bloggs is going to pay his mortgage.
Personally I think fook Mr. Bloggs for borrowing too much.
You idiots need to do some reading of economic history before exposing your ignorance on here.
Inflation is the UK's official government policy, behind the scenes,, as has happened before.
Go and do your own fooking research and education, I don't have time to drum it into your thick bonces.
Leave a comment:
-
Originally posted by sasguru View PostFFS we're talking macro-economics and fiscal and monetary policy here, not how Mr. Bloggs is going to pay his mortgage.
Personally I think fook Mr. Bloggs for borrowing too much.
You idiots need to do some reading of economic history before exposing your ignorance on here.
Inflation is the UK's official government policy, behind the scenes,, as has happened before.
Go and do your own fooking research and education, I don't have time to drum it into your thick bonces.
Leave a comment:
-
Originally posted by Old Greg View PostSo if you have savings of £10k and debts of £10k, both at 4% fixed and everything goes up in price 10-fold but your wages remain the same, then ther value of the savings is decreased, and the value of debt remains the same, so you're worse off than if you had no debts and no savings?
Leave a comment:
-
Originally posted by Old Greg View PostBut it's value is it's purchasing power, not your ability to acquire it. Otherwise, if your salary doubles, the value of your savings halve.
Measured in that way the value of your savings do indeed halve. For example, someone who gives you £10,000 is only going to get half as much of your time as they would have before.
Like I said, it's relative. You seem to think "purchasing power" is the one true unit of value, I would contend that a unit of my time is an equally good measure.Last edited by doodab; 6 January 2012, 17:11.
Leave a comment:
-
Originally posted by Old Greg View PostSo if you have savings of £10k and debts of £10k, both at 4% fixed and everything goes up in price 10-fold but your wages remain the same, then ther value of the savings is decreased, and the value of debt remains the same, so you're worse off than if you had no debts and no savings?
Leave a comment:
-
Originally posted by AtW View PostIndeed.
But with the debt it's the other way around - unless your salary grows (inflates) your debt isn't getting any cheaper to pay off when other prices go up.
The big question is how long normal inflation can go up without wage inflation taking place - savings rates in this country weren't very high in the boom days.
So if you have savings of £10k and debts of £10k, both at 4% fixed and everything goes up in price 10-fold but your wages remain the same, then ther value of the savings is decreased, and the value of debt remains the same, so you're worse off than if you had no debts and no savings?
5 o'clock. It's been fun!
Leave a comment:
-
Originally posted by Old Greg View PostBut it's value is it's purchasing power, not your ability to acquire it.
But with the debt it's the other way around - unless your salary grows (inflates) your debt isn't getting any cheaper to pay off when other prices go up.
The big question is how long normal inflation can go up without wage inflation taking place - savings rates in this country weren't very high in the boom days.
Leave a comment:
-
Originally posted by doodab View PostRelative to the value of your labour, no. You would have to do exactly the same amount of work to earn £10,000 as you would before.
Leave a comment:
-
Originally posted by Old Greg View PostExcellent.
So, if everything gose up in price 10 fold, but my wages stay the same, and my savings of £10,000 stay the same at a fixed rate interest of 4% p.a., have my savings been eroded in value?
Leave a comment:
-
Originally posted by Old Greg View PostYou mean if you buy anything?
Originally posted by Old Greg View PostWould you care to lay out the circumstances in which your savings are not eroded in value as you've laid out the circumstances in which they are?
Right now inflation is easy over 5% and interest on savings is near 0%.
Debt does not get cheaper however because it becomes harder to service it due to higher costs of essentials, so proportion of money going towards paying off existing debt is higher, painful cut backs just to afford mortgage have to happen - all that makes it feel that debt got more expensive even if in nominal terms it's the same amount.
The only debt that got cheaper to service are mortgages linked to BoE rate. It's false economy though because of much higher inflation that more than exceeds savings in rate paid.
Leave a comment:
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: