BEWARE! THE BANKS ARE OUT TO GET YOU!

[Stanley]

"if the lease has less than 80 years to run, then no on will lend on it."
Same thing in effect David.

[Stanley]

e have all heard the general rejoicing because the G7 countries have agreed to standardise corporation tax at 15%. But now we hear that if a company earns less than 10% profit it's exempt. Accountants will easily arrange things so that you are only making 9.9999% profit.

[Tizer]

?

[PanBiker]

I think there is one too many leading nines.

[Stanley]

Correct Ian..... I have edited it.

[Stanley]

See THIS revelation from the US that rich people pay less income tax. Who'd have thowt it!

[Stanley]

See THIS Guardian article raising the spectre of job losses in September. Add the numbers of people either on notice of eviction or expecting it any day.
There are hard times coming and it could be a very bad winter for many families.
Meanwhile the wealth of the top percentile of capital holders grows and grows. Wealth is still migrating upwards and as Joe Biden said only a few days ago, 'trickle down' doesn't work.

[Tizer]

I often complain because companies deliberately release products and services that are not fully developed so they can get ahead of competitors. Then they wait for customers to tell them if the gizmo isn't working properly. Now here's an admission and even a name for the `business model. From a snack food product manufacturer: `he employed a principle which is popular amongst app makers, of putting onto the market a "minimum viable product".
"We release things as quick as we can. They're not perfect. It's almost like a scattergun approach. Whatever sticks we then do more of, and we improve the product. It means that if we need to change recipes, we haven't spent too much money. And that enables us to move really fast." Too bad for the customers who pay for duff product.

[Stanley]

See THIS Credit Suisse report on the widening gap between rich and poor world wide. The pandemic has been a good thing for the super rich....
There ain't no justice!
Then have a look at THISnews that the competition and markets authority have secured 'improvements' to the leasehold system. Welcome though this is, only the complete demise of the leasehold system will satisfy me. It is a feudal relic only available to the wealthy.

[Tizer]

There's more criticism of the Financial Conduct Authority following the London Capital and Finance (LCF) scandal...
`London Capital saga: MPs want shake-up at watchdog' LINK

[Stanley]

Indeed Peter, and Private Eye have been on their case for years. This round triggered of course by the fact that Bailey is now Governor of the BofE. Proof, if any was needed, of the Magic Circle that exists for these top jobs. If you doubt this, study Dido Harding's career....

[Stanley]

So many of the Covid related subsidies both for industry and in the home are coming to an end. Nobody is quite sure what is going to happen.
GAP announce that they are closing all their retail outlets and trading exclusively on line. The shape of things to come.....
Later....GAP say they are going to start consultations immediately with staff to be made redundant. It would have been nice if they had done that first.....

[Whyperion]

Post Office (Royal Mail) want to end Saturday deliveries.
Thats annoying , being able to mail out first class on a friday with a reasonable expectation that the domestic posts would land on the doormat at the weekend was key to chasing up by phone Monday/Tuesday.

I remain convinced that part of the problems of 'productivity' are to do with the unwieldy postal charges, export duties, commercial energy tariffs that are so opaque as to need expensive help , training and staff to cope with, no unskilled workers in those areas.

[Stanley]

Peter and I have often banged on about equity release loans. News today that the level of new loans has risen to pre-Covid levels.
On You and yours a Man is relating the story of his parents who took out two equity releases, one for £25,000 and one for £14,000. The parents died and the son found that the amount owing is over £140,000 and rising. In the middle of grieving they have had to get the house ready to sell as this is the only way to stop the interest accruing, even though his parents are dead.
If interest rates go up this situation could get worse. The message is beware!

[Tripps]

The message is beware!

No the messsage is -'have nothing to do with them at all'.

Also applies to Park Homes, Shared equity - in fact almost anything advertised on TV, (and horses). Keep it simple just don't do it.

[Stanley]

You're right of course David....

[Whyperion]

Cameron apparently earned $10million from Greensil. Consultancy Fees, Share Sales and some bonus/ salary. I still cannot work out exactly what Greensil did, and if dodgy Dave understood anyway

[Tizer]

This is becoming a regular occurrence and yet people keep on buying the stuff!...
`Hackers steal $600m in major cryptocurrency heist' LINK

[Stanley]

I saw that report Peter and later reports about strange behaviour by the perpetrators who don't appear to know how to convert whatever they have stolen into usable cash. It seems an Alice in Wonderland situation to me.

[Tizer]

We're losing our UK companies to the US...
`Morrisons backs US firm's improved £7bn takeover offer' LINK
`Ultra Electronics deal unlikely to be rejected' LINK

[plaques]

The UK is still up for sale. Reminds me of the times of the Empire when we would offer the natives a bag of beads in exchange for their land. Now its their turn to offer us some IOU debt and electronic numbers that will disappear into the pockets of the 1% and leave the workers with an unsure future whether it will all be broken up 'rationalised' sold of again or moved to the US.

[Stanley]

You're both right. Did I hear a report that more UK businesses have been sold to foreign bidders in the last 8 months than in the preceding 5r years?

[Tizer]

Yes, you did hear right. We might as well ask Joe Biden to make us the next US state! Here's another example...
`Nvidia's takeover of Arm raises serious concerns, says watchdog' LINK

[Stanley]

Will this money obsessed government take any notice of warnings?

[Tizer]

No, they're too busy `selling us down the river'.