Boomer life according to the economist
Discussion
Panamax said:
Taking those in turn,
Education - absolutely. It's nonsense that "our" universities are full of "foreign" students because they pay higher fees and are good for the economy. We should be educating our own people to build our own economy. It's nonsense to be educating foreign students when businesses are crying out for educated/competent people from abroad. One of the greatest British Stupidities of this current era.
Regional Inequality - next thing you know there will be a huge office in Westminster called "The Department For Levelling Up" headed by some little worm like Michael Gove. If people want to level up they need to start levelling themselves up. A lot of the nonsense comes from people who want generous rewards from very little work. Poor UK productivity and the sick-note culture are indicators of a much broader problem.
Support Business Growth - it sounds lovely but I'm never quite sure what it looks like on the ground. Playing about with tax and allowances is easy enough but it doesn't create customer demand out of thin air and there's no point subsidising loss-making businesses just to employ a few people. Regrettably companies like Tata Steel and Nissan are only willing to stay in UK if they receive generous bribes from the government.
That first point, Education, is the key driver. It's something we can and should address right here, right now. Get education right and the rest should follow. But despite what politicians keep saying the idea that UK can go head-to-head with India, South Korea etc and beat them every time is pure dreamland. UK has backed itself into a tricky corner and will struggle to get out of it. Education is our best hope.
Its quite humorous how negative a lot of you are. I know hope dies first, but listening to some of you is curious given how (big) business and finance views the UK potential. Now the UK is coming off a very low base, driven by political insanity - but historic observation isn't a guide to future performance (always).Education - absolutely. It's nonsense that "our" universities are full of "foreign" students because they pay higher fees and are good for the economy. We should be educating our own people to build our own economy. It's nonsense to be educating foreign students when businesses are crying out for educated/competent people from abroad. One of the greatest British Stupidities of this current era.
Regional Inequality - next thing you know there will be a huge office in Westminster called "The Department For Levelling Up" headed by some little worm like Michael Gove. If people want to level up they need to start levelling themselves up. A lot of the nonsense comes from people who want generous rewards from very little work. Poor UK productivity and the sick-note culture are indicators of a much broader problem.
Support Business Growth - it sounds lovely but I'm never quite sure what it looks like on the ground. Playing about with tax and allowances is easy enough but it doesn't create customer demand out of thin air and there's no point subsidising loss-making businesses just to employ a few people. Regrettably companies like Tata Steel and Nissan are only willing to stay in UK if they receive generous bribes from the government.
That first point, Education, is the key driver. It's something we can and should address right here, right now. Get education right and the rest should follow. But despite what politicians keep saying the idea that UK can go head-to-head with India, South Korea etc and beat them every time is pure dreamland. UK has backed itself into a tricky corner and will struggle to get out of it. Education is our best hope.
The UK is going to look like a safe haven given what's happening globally. Trump and his band of lunatics are odds on to get in later this year and the Far Right is going to be the 3rd biggest political group in Europe (on a very national socialist vibe).
Truss did such a bad job, everyone after knows that you can't f
k with certain things like the Gilts market and cable (GBP was the 2nd best performing G10 CCY after the $ for the last 2 years for instance). Even Labour has realised there are constraints to fiscal largese and they are keeping a lid on policy exuberance. FDI has grown Vs EU peers here. Its very likely that the UK is going to look politically stable and boring - we have had our fill of populism, the US and EU are just heading down that path. At the UK level, we are going to benefit from things like AI moreso than manufacturing / industrial heavy nations, which suits our economy massively. We are going to see productivity increases and policy far beyond what peers will do - because the UK will look safe. Reform Party won't get an electoral in, we just are not interested in it. People are making up bogeymen that don't exist. People are fixated on Brexit, but the UK economy is half a trillion $ larger now than it was in 2016 - its lost potential, but a rounding error compared to global macro pressure.
Should we not have another political fiasco of Truss and slightly lesser Johnson, the UK economy will outgrow the peers many are so hooked on. What is going to be a significant and persistent problem is wealth / inequality divide. We are second to the US in that regard, no amount of London boom and growth is going to mean s
t in the deprived areas of the UK. The only benefit to them is tax distribution. And if anyone wants a proper stand on me prediction, regardless of persistent and problematic sticky service level inflation at 6%; the BoE is going to cut between June and August because IT knows that growth is imperative.
Edited by OoopsVoss on Thursday 16th May 21:56
OoopsVoss said:
Panamax said:
Taking those in turn,
Education - absolutely. It's nonsense that "our" universities are full of "foreign" students because they pay higher fees and are good for the economy. We should be educating our own people to build our own economy. It's nonsense to be educating foreign students when businesses are crying out for educated/competent people from abroad. One of the greatest British Stupidities of this current era.
Regional Inequality - next thing you know there will be a huge office in Westminster called "The Department For Levelling Up" headed by some little worm like Michael Gove. If people want to level up they need to start levelling themselves up. A lot of the nonsense comes from people who want generous rewards from very little work. Poor UK productivity and the sick-note culture are indicators of a much broader problem.
Support Business Growth - it sounds lovely but I'm never quite sure what it looks like on the ground. Playing about with tax and allowances is easy enough but it doesn't create customer demand out of thin air and there's no point subsidising loss-making businesses just to employ a few people. Regrettably companies like Tata Steel and Nissan are only willing to stay in UK if they receive generous bribes from the government.
That first point, Education, is the key driver. It's something we can and should address right here, right now. Get education right and the rest should follow. But despite what politicians keep saying the idea that UK can go head-to-head with India, South Korea etc and beat them every time is pure dreamland. UK has backed itself into a tricky corner and will struggle to get out of it. Education is our best hope.
Its quite humorous how negative a lot of you are. I know hope dies first, but listening to some of you is curious given how (big) business and finance views the UK potential. Now the UK is coming off a very low base, driven by political insanity - but historic observation isn't a guide to future performance (always).Education - absolutely. It's nonsense that "our" universities are full of "foreign" students because they pay higher fees and are good for the economy. We should be educating our own people to build our own economy. It's nonsense to be educating foreign students when businesses are crying out for educated/competent people from abroad. One of the greatest British Stupidities of this current era.
Regional Inequality - next thing you know there will be a huge office in Westminster called "The Department For Levelling Up" headed by some little worm like Michael Gove. If people want to level up they need to start levelling themselves up. A lot of the nonsense comes from people who want generous rewards from very little work. Poor UK productivity and the sick-note culture are indicators of a much broader problem.
Support Business Growth - it sounds lovely but I'm never quite sure what it looks like on the ground. Playing about with tax and allowances is easy enough but it doesn't create customer demand out of thin air and there's no point subsidising loss-making businesses just to employ a few people. Regrettably companies like Tata Steel and Nissan are only willing to stay in UK if they receive generous bribes from the government.
That first point, Education, is the key driver. It's something we can and should address right here, right now. Get education right and the rest should follow. But despite what politicians keep saying the idea that UK can go head-to-head with India, South Korea etc and beat them every time is pure dreamland. UK has backed itself into a tricky corner and will struggle to get out of it. Education is our best hope.
The UK is going to look like a safe haven given what's happening globally. Trump and his band of lunatics are odds on to get in later this year and the Far Right is going to be the 3rd biggest political group in Europe (on a very national socialist vibe).
Truss did such a bad job, everyone after knows that you can't f
k with certain things like the Gilts market and cable (GBP was the 2nd best performing G10 CCY after the $ for the last 2 years for instance). Even Labour has realised there are constraints to fiscal largese and they are keeping a lid on policy exuberance. FDI has grown Vs EU peers here. Its very likely that the UK is going to look politically stable and boring - we have had our fill of populism, the US and EU are just heading down that path. At the UK level, we are going to benefit from things like AI moreso than manufacturing / industrial heavy nations, which suits our economy massively. We are going to see productivity increases and policy far beyond what peers will do - because the UK will look safe. Reform Party won't get an electoral in, we just are not interested in it. People are making up bogeymen that don't exist. People are fixated on Brexit, but the UK economy is half a trillion $ larger now than it was in 2016 - its lost potential, but a rounding error compared to global macro pressure.
Should we not have another political fiasco of Truss and slightly lesser Johnson, the UK economy will outgrow the peers many are so hooked on. What is going to be a significant and persistent problem is wealth / inequality divide. We are second to the US in that regard, no amount of London boom and growth is going to mean s
t in the deprived areas of the UK. The only benefit to them is tax distribution. And if anyone wants a proper stand on me prediction, regardless of persistent and problematic sticky service level inflation at 6%; the BoE is going to cut between June and August because IT knows that growth is imperative.
Edited by OoopsVoss on Thursday 16th May 21:56
Corporate Advisor said:
Pension fund investment into UK shares falls to new low
Just 4.2 per cent of listed UK shares are owned by pension and insurance funds— the lowest proportion on record according to new data from the Office of National Statistics.
The proportion of pension fund assets invested in UK shares has declined significantly in recent decades. Today’s figure is in stark contrast to ONS data from 1997, when the two sectors held a combined 45.7 per cent of UK quoted shares.
Just 4.2 per cent of listed UK shares are owned by pension and insurance funds— the lowest proportion on record according to new data from the Office of National Statistics.
The proportion of pension fund assets invested in UK shares has declined significantly in recent decades. Today’s figure is in stark contrast to ONS data from 1997, when the two sectors held a combined 45.7 per cent of UK quoted shares.
BandOfBrothers said:
Lol, if only there were an indicator of the UK finance professionals' confidence in UK companies...
It is a bit of a self fulfilling circle, in that US shares go up, so people put more money into US shares, so they go up more. Likely that has increased with more "less sophisticated" investors now managing their own portfolios with the rise in DC pensions. It maybe that as the government sets some better sights on what the UK is to become (lets face it, the Tory party have been seriously lacking in any post Brexit industrial strategy), then more people are keen to invest in UK firms. Corporate Advisor said:
Pension fund investment into UK shares falls to new low
Just 4.2 per cent of listed UK shares are owned by pension and insurance funds— the lowest proportion on record according to new data from the Office of National Statistics.
The proportion of pension fund assets invested in UK shares has declined significantly in recent decades. Today’s figure is in stark contrast to ONS data from 1997, when the two sectors held a combined 45.7 per cent of UK quoted shares.
Just 4.2 per cent of listed UK shares are owned by pension and insurance funds— the lowest proportion on record according to new data from the Office of National Statistics.
The proportion of pension fund assets invested in UK shares has declined significantly in recent decades. Today’s figure is in stark contrast to ONS data from 1997, when the two sectors held a combined 45.7 per cent of UK quoted shares.
And it's very little to do with the performance of the companies, US companies are valued at twice what UK companies are for the same profit margin, so it's not even that US companies are necessarily more profitable, they're just valued higher on a P/E basis.
Condi said:
BandOfBrothers said:
Lol, if only there were an indicator of the UK finance professionals' confidence in UK companies...
It is a bit of a self fulfilling circle, in that US shares go up, so people put more money into US shares, so they go up more. Likely that has increased with more "less sophisticated" investors now managing their own portfolios with the rise in DC pensions. It maybe that as the government sets some better sights on what the UK is to become (lets face it, the Tory party have been seriously lacking in any post Brexit industrial strategy), then more people are keen to invest in UK firms. Corporate Advisor said:
Pension fund investment into UK shares falls to new low
Just 4.2 per cent of listed UK shares are owned by pension and insurance funds— the lowest proportion on record according to new data from the Office of National Statistics.
The proportion of pension fund assets invested in UK shares has declined significantly in recent decades. Today’s figure is in stark contrast to ONS data from 1997, when the two sectors held a combined 45.7 per cent of UK quoted shares.
Just 4.2 per cent of listed UK shares are owned by pension and insurance funds— the lowest proportion on record according to new data from the Office of National Statistics.
The proportion of pension fund assets invested in UK shares has declined significantly in recent decades. Today’s figure is in stark contrast to ONS data from 1997, when the two sectors held a combined 45.7 per cent of UK quoted shares.
And it's very little to do with the performance of the companies, US companies are valued at twice what UK companies are for the same profit margin, so it's not even that US companies are necessarily more profitable, they're just valued higher on a P/E basis.
I suspect it's MUCH more likely that they expect US companies to be significantly more profitable than UK companies in the long run.
BandOfBrothers said:
So your view is that UK pension funds as well as the rest of the world are investing in a speculative bubble in US companies?
I suspect it's MUCH more likely that they expect US companies to be significantly more profitable than UK companies in the long run.
Speculative bubble? Maybe. There is no "right" or "wrong" P/E ratio though, so hard to say. Almost certainly there is an element of that, especially with a large number of pensions being self managed DC pensions whereas in 1997 very few will have been self managed. I suspect it's MUCH more likely that they expect US companies to be significantly more profitable than UK companies in the long run.
Look at the likes of Tesla, it's very clearly a bubble.
Maybe they do expect US companies to be more profitable, whether that comes to pass will remain to be seen, but based on existing P/E then either UK companies appear under-valued or the US is over-valued.
Condi said:
BandOfBrothers said:
So your view is that UK pension funds as well as the rest of the world are investing in a speculative bubble in US companies?
I suspect it's MUCH more likely that they expect US companies to be significantly more profitable than UK companies in the long run.
Speculative bubble? Maybe. There is no "right" or "wrong" P/E ratio though, so hard to say. Almost certainly there is an element of that, especially with a large number of pensions being self managed DC pensions whereas in 1997 very few will have been self managed. I suspect it's MUCH more likely that they expect US companies to be significantly more profitable than UK companies in the long run.
Look at the likes of Tesla, it's very clearly a bubble.
Maybe they do expect US companies to be more profitable, whether that comes to pass will remain to be seen, but based on existing P/E then either UK companies appear under-valued or the US is over-valued.
It's not rocket science.
*quotes edited for brevity, hopefully not changing their main theme or meaning*
Millennials haven’t really felt the pain of this yet and it will probably be another generation or two before it really hits but the world is getting smaller and the advantages that we had since the colonies existed have to keep fading.
But I think there is truth here as well -
TLDR. Some change inevitable, disaster unlikely.
BandOfBrothers said:
We have historically enjoyed a very favoured position due to our location, Navy and technological innovations (including the industrial revolution).
However, this country has been in decline from those heady heights since the early 1900s as other, better positioned countries (US, China) caught up and surpassed us, accelerated by two world wars that financially ruined us, partially delayed by the lottery win that was North Sea oil and gas, but now really setting in, and accelerated again by Brexit.
Our competitive advantages are largely gone. The speed of information and learning has never been faster. We simply cannot expect to maintain significantly greater living standards than the rest of the world any more.
I think this is true and it is relevant to this thread. Since well before the time of the boomers we have been able to improve our living standards by buying from places with less wealth and education. Starting with Japan, then other parts of SE Asia, now largely China. All much poorer countries, or at least they were, and as they manage to reduce their wealth inequality we inevitably get less benefit. However, this country has been in decline from those heady heights since the early 1900s as other, better positioned countries (US, China) caught up and surpassed us, accelerated by two world wars that financially ruined us, partially delayed by the lottery win that was North Sea oil and gas, but now really setting in, and accelerated again by Brexit.
Our competitive advantages are largely gone. The speed of information and learning has never been faster. We simply cannot expect to maintain significantly greater living standards than the rest of the world any more.
Millennials haven’t really felt the pain of this yet and it will probably be another generation or two before it really hits but the world is getting smaller and the advantages that we had since the colonies existed have to keep fading.
But I think there is truth here as well -
OoopsVoss said:
The UK is going to look like a safe haven given what's happening globally. Trump and his band of lunatics are odds on to get in later this year and the Far Right is going to be the 3rd biggest political group in Europe (on a very national socialist vibe).
At the UK level, we are going to benefit from things like AI moreso than manufacturing / industrial heavy nations, which suits our economy massively. We are going to see productivity increases and policy far beyond what peers will do - because the UK will look safe. Reform Party won't get an electoral in, we just are not interested in it. People are making up bogeymen that don't exist. People are fixated on Brexit, but the UK economy is half a trillion $ larger now than it was in 2016 - its lost potential, but a rounding error compared to global macro pressure.
Some parts of history are hard to overcome and without war/revolution take centuries to change, not decades. At the UK level, we are going to benefit from things like AI moreso than manufacturing / industrial heavy nations, which suits our economy massively. We are going to see productivity increases and policy far beyond what peers will do - because the UK will look safe. Reform Party won't get an electoral in, we just are not interested in it. People are making up bogeymen that don't exist. People are fixated on Brexit, but the UK economy is half a trillion $ larger now than it was in 2016 - its lost potential, but a rounding error compared to global macro pressure.
TLDR. Some change inevitable, disaster unlikely.
BandOfBrothers said:
Pension funds not investing in the UK.....
You need to spend a bit more time learning about stock market valuations, listing rules etc. US valuations are greater influenced by credit supply and in many instances lax regulatlons (see Shell).If you read enough research, everything from IMF to bankside research, there is always an array of opinions - they vary. But they tend to be sober and factual - not the nuts you hear in here or 37secs of goggle-fu. Or more humorous false equivalence.
Here's an easily digestible precis on what the IMF said about UK growth potential (normally an institution with a frowny view on the UK):
https://elblog.pl/2024/04/17/uk-poised-to-benefit-...
Those potential growth rates are high side, but interesting given recent history.
Fed policy might be relevant given its impact on cable and commodity pricing but then the similarities end and we don't want to be going down the US path.
The UK needs to continue its upward FDI trend, be politically stable (that's a risk - but looking likely) and most importantly distribute its economy (tackle increasing wealth inequality).
EDIT to add - the Bank Of England gets it....
https://www.bankofengland.co.uk/news/2024/may/boe-...
Edited by OoopsVoss on Friday 17th May 09:46
BandOfBrothers said:
Or UK companies are expected to make significantly less money in the near future than US companies.
It's not rocket science.
If expert investors and fund managers believed the UK market was undervalued they'd be buying left, right and centre.It's not rocket science.
When you look at the difference between UK and US stock indexes one of the main drivers is UK market generally pays higher dividends. i.e. US shareholders receive more "capital growth" and less "income". UK makes a better comparator if you look at it on a "total return" basis although that still doesn't pick up the benefit of compounding capital growth as opposed to spending the income. IMO the savvy investor doesn't care which they're getting, so long as they're making money! (Subject to any tax implications.)
OoopsVoss said:
BandOfBrothers said:
Pension funds not investing in the UK.....
You need to spend a bit more time learning about stock market valuations, listing rules etc. US valuations are greater influenced by credit supply and in many instances lax regulatlons (see Shell).If you read enough research, everything from IMF to bankside research, there is always an array of opinions - they vary. But they tend to be sober and factual - not the nuts you hear in here or 37secs of goggle-fu. Or more humorous false equivalence.
Here's an easily digestible precis on what the IMF said about UK growth potential (normally an institution with a frowny view on the UK):
https://elblog.pl/2024/04/17/uk-poised-to-benefit-...
Those potential growth rates are high side, but interesting given recent history.
Fed policy might be relevant given its impact on cable and commodity pricing but then the similarities end and we don't want to be going down the US path.
The UK needs to continue its upward FDI trend, be politically stable (that's a risk - but looking likely) and most importantly distribute its economy (tackle increasing wealth inequality).
EDIT to add - the Bank Of England gets it....
https://www.bankofengland.co.uk/news/2024/may/boe-...
Edited by OoopsVoss on Friday 17th May 09:46
I have 25 years of providing advice on capital market transactions.
Opinions are like assholes and if you know anything about the industry you'd know that the IMF's stinks more than most.
And at the end of the day, money talks and it's saying very loudly that UK companies are duds.
BandOfBrothers said:
I have 25 years of providing advice on capital market transactions.
Opinions are like assholes and if you know anything about the industry you'd know that the IMF's stinks more than most.
And at the end of the day, money talks and it's saying very loudly that UK companies are duds.
Ooh, go on then, what did/do you do for a career? And who were you advising? Opinions are like assholes and if you know anything about the industry you'd know that the IMF's stinks more than most.
And at the end of the day, money talks and it's saying very loudly that UK companies are duds.
For someone who claims to have a background in finance you have some funny ideas. Not sure I'd want to pay for this advice!!
Maybe you could explain why Exxon and Shell are valued so differently (on a P/E basis)? They sell identical products into a global market. There is no differentiating factors within the product, so why should (using your example) Exxon be expect to make twice as much money than Shell, simply because they are listed in different countries?
Edited by Condi on Friday 17th May 12:28
Condi said:
BandOfBrothers said:
I have 25 years of providing advice on capital market transactions.
Opinions are like assholes and if you know anything about the industry you'd know that the IMF's stinks more than most.
And at the end of the day, money talks and it's saying very loudly that UK companies are duds.
Ooh, go on then, what did/do you do for a career? And who were you advising? Opinions are like assholes and if you know anything about the industry you'd know that the IMF's stinks more than most.
And at the end of the day, money talks and it's saying very loudly that UK companies are duds.
For someone who claims to have a background in finance you have some funny ideas. Not sure I'd want to pay for this advice!!
Maybe you could explain why Exxon and Shell are valued so differently (on a P/E basis)? They sell identical products into a global market. There is no differentiating factors within the product, so why should (using your example) Exxon be expect to make twice as much money than Shell, simply because they are listed in different countries?
Edited by Condi on Friday 17th May 12:28
Frankly I couldn't care less whether you'd pay for my advice or not, plenty of others do, but I certainly won't be doing any work for free for you.
I prefer to let the strength of my arguments stand for themselves, which is why I guess you've jumped in on this thread after I schooled you on the Cryptocurrency one?
BandOfBrothers said:
I'm not really prepared to give any further details than I already have, take it or leave it. I just found it funny that I was being advised to do some research in a field that I have built a reasonably successful professional career.
Frankly I couldn't care less whether you'd pay for my advice or not, plenty of others do, but I certainly won't be doing any work for free for you.
I prefer to let the strength of my arguments stand for themselves, which is why I guess you've jumped in on this thread after I schooled you on the Cryptocurrency one?
Schooling people? Who did you give FS advice too? The Sugar Hill Gang?Frankly I couldn't care less whether you'd pay for my advice or not, plenty of others do, but I certainly won't be doing any work for free for you.
I prefer to let the strength of my arguments stand for themselves, which is why I guess you've jumped in on this thread after I schooled you on the Cryptocurrency one?
Honestly, you are funny. Especially dropping into insults or being too rude to read a post properly.
Perhaps you ought to calm down a bit and rather than picking oddly parochial hills to die on, try reading fully what's being posted.
OoopsVoss said:
BandOfBrothers said:
I'm not really prepared to give any further details than I already have, take it or leave it. I just found it funny that I was being advised to do some research in a field that I have built a reasonably successful professional career.
Frankly I couldn't care less whether you'd pay for my advice or not, plenty of others do, but I certainly won't be doing any work for free for you.
I prefer to let the strength of my arguments stand for themselves, which is why I guess you've jumped in on this thread after I schooled you on the Cryptocurrency one?
Schooling people? Who did you give FS advice too? The Sugar Hill Gang?Frankly I couldn't care less whether you'd pay for my advice or not, plenty of others do, but I certainly won't be doing any work for free for you.
I prefer to let the strength of my arguments stand for themselves, which is why I guess you've jumped in on this thread after I schooled you on the Cryptocurrency one?
Honestly, you are funny. Especially dropping into insults or being too rude to read a post properly.
Perhaps you ought to calm down a bit and rather than picking oddly parochial hills to die on, try reading fully what's being posted.
PH is full of people vocally demonstrating the Dunning–Kruger effect - an overestimated belief in their own competence.
Condi has a very limited grasp of how value is attributed to shares or currencies, but believes he understands it fully and vehemently sticks to his false beliefs despite being shown how they are incomplete, or in some cases completely wrong.
You don't understand all of the fundamentals of how Bitcoin works and are vehmently declaring that it can be regulated or "shut down" despite being repeatedly shown exactly how your beliefs are wrong.
Unsurprisingly, you both take this as an attack on your egos, because your statements on here are intended to inflate your egos. When they are shot down, you take it as a personal insult.
Which is why you two have now moved away from defending your demonstrably false beliefs to attack me personally.
All very predictable.
BandOfBrothers said:
Yes, schooling people.
PH is full of people vocally demonstrating the Dunning–Kruger effect - an overestimated belief in their own competence.
Condi has a very limited grasp of how value is attributed to shares or currencies, but believes he understands it fully and vehemently sticks to his false beliefs despite being shown how they are incomplete, or in some cases completely wrong.
You don't understand all of the fundamentals of how Bitcoin works and are vehmently declaring that it can be regulated or "shut down" despite being repeatedly shown exactly how your beliefs are wrong.
Unsurprisingly, you both take this as an attack on your egos, because your statements on here are intended to inflate your egos. When they are shot down, you take it as a personal insult.
Which is why you two have now moved away from defending your demonstrably false beliefs to attack me personally.
All very predictable.
I've not insulted you - you have claimed to have been handing out "schoolings and people have brain farts". Its funny, you seem to mis the whole point that being contrarian moves debate along. My forum opinion may not match my day to day one - I posted a few data points (real) and articles and very easily referenced claims - to debunk a doom narrative, but you have pwn'd!!!!!!! me with your world view? I said go and look at Shell as an example in the difference of markets. How much FTSE100 is UK correlated? Dividends, local / EU regulations, synthetics (leverage) etc - all play a part - its much more complex. PH is full of people vocally demonstrating the Dunning–Kruger effect - an overestimated belief in their own competence.
Condi has a very limited grasp of how value is attributed to shares or currencies, but believes he understands it fully and vehemently sticks to his false beliefs despite being shown how they are incomplete, or in some cases completely wrong.
You don't understand all of the fundamentals of how Bitcoin works and are vehmently declaring that it can be regulated or "shut down" despite being repeatedly shown exactly how your beliefs are wrong.
Unsurprisingly, you both take this as an attack on your egos, because your statements on here are intended to inflate your egos. When they are shot down, you take it as a personal insult.
Which is why you two have now moved away from defending your demonstrably false beliefs to attack me personally.
All very predictable.
To get this back onto track for the majority, the UK's biggest issue is wealth divide and its going to get worse. An incoming Labour government is probably not going to be as risky as prior years (or persons involved), the UK is going to benefit from the 4th Industrial revolution - because that benefits services - but we aren't doing enough on wealth inequality (which will be second only to the US).
OoopsVoss said:
BandOfBrothers said:
Yes, schooling people.
PH is full of people vocally demonstrating the Dunning–Kruger effect - an overestimated belief in their own competence.
Condi has a very limited grasp of how value is attributed to shares or currencies, but believes he understands it fully and vehemently sticks to his false beliefs despite being shown how they are incomplete, or in some cases completely wrong.
You don't understand all of the fundamentals of how Bitcoin works and are vehmently declaring that it can be regulated or "shut down" despite being repeatedly shown exactly how your beliefs are wrong.
Unsurprisingly, you both take this as an attack on your egos, because your statements on here are intended to inflate your egos. When they are shot down, you take it as a personal insult.
Which is why you two have now moved away from defending your demonstrably false beliefs to attack me personally.
All very predictable.
Blah blah blah...My forum opinion may not match my day to day one...blah blah blahPH is full of people vocally demonstrating the Dunning–Kruger effect - an overestimated belief in their own competence.
Condi has a very limited grasp of how value is attributed to shares or currencies, but believes he understands it fully and vehemently sticks to his false beliefs despite being shown how they are incomplete, or in some cases completely wrong.
You don't understand all of the fundamentals of how Bitcoin works and are vehmently declaring that it can be regulated or "shut down" despite being repeatedly shown exactly how your beliefs are wrong.
Unsurprisingly, you both take this as an attack on your egos, because your statements on here are intended to inflate your egos. When they are shot down, you take it as a personal insult.
Which is why you two have now moved away from defending your demonstrably false beliefs to attack me personally.
All very predictable.
This Finance Forum is generally one of the more sensible outposts of PH although some folk do like to strut about a bit. In my simple world they're usually identified by use of jargon in their posts whereas most people who genuinely understand a subject can explain things to the unwashed in ordinary English!
Panamax said:
This Finance Forum is generally one of the more sensible outposts of PH although some folk do like to strut about a bit. In my simple world they're usually identified by use of jargon in their posts whereas most people who genuinely understand a subject can explain things to the unwashed in ordinary English!
Yes, and you can tell the helpful ones as opposed to the arrogant ones. The helpful ones tend to explain/elaborate their thought-process rather than bluntly telling others that they are wrong.Sometimes both are right too, it just depends on what timescale you are looking - and no one knows when the changes will happen. Sometimes some people have flagged issues, but it takes years longer than they predict for the problems to trigger bigger changes in the market, and so the more positive options are right for a while even when the ones pointing out problems are also correct.
But there is some people with a bit too much self belief, and also some doom mongers who always predict a collapse etc.
This was quite interesting on the gamble the US is going for - is it a case of the government creating great grow, or just a short term overheating of the economy that is unsustainable and will cause more damage long term?
https://www.bbc.com/news/articles/cd131v26dneo
But there is some people with a bit too much self belief, and also some doom mongers who always predict a collapse etc.
This was quite interesting on the gamble the US is going for - is it a case of the government creating great grow, or just a short term overheating of the economy that is unsustainable and will cause more damage long term?
https://www.bbc.com/news/articles/cd131v26dneo
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