Value Based Property tax on the way (91)
I dont open links posted on here.
sofarsogood74:
But you wouldn't buy one just yet would ya? As you have a crystal ball that tells you about future property values and the economic outlook.
But you wouldn't buy one just yet would ya? As you have a crystal ball that tells you about future property values and the economic outlook.
I wouldn't buy one just yet. That's for sure. I won't be buying one in Dublin and as you correctly pointed out before, the country market is still dropping. But I'd have NO problem buying a repo car or house at the right price. With a bit of land, not too far away from the M50 (40mins be nice), nice garden, few bedrooms, nice neighbours.
MADDOG69: Lets just say for one second that I would agree with you.... just 1 second.
And then I could use YOUR argument about the property investors (not savers ;) ) who bought houses. They didn't have a crystal ball. How were they to know that unemployment went this, and the economy went that.
"How were they to forsee{i]{sic}{/i} the worst worldwide recession since the 30's"
See your contradiction?
And then I could use YOUR argument about the property investors (not savers ;) ) who bought houses. They didn't have a crystal ball. How were they to know that unemployment went this, and the economy went that.
"How were they to forsee{i]{sic}{/i} the worst worldwide recession since the 30's"
See your contradiction?
No. Because cash savings can't be compared to a family home!One is a roof over your and your kids head. The other is cash savings! Simple.
You throw people out of a family home then the government has to find them accommodation. This costs way more than keeping them in the house. You start throwing people out who are behind on their mortgage you have 10% of all properties on the market, driving down the value, making the NAMA (TAX PAYERS) assests a fraction of what they bought them for. Also when the economy recovers people can catch up on their mortgage or take an extra few years to pay it. Keeping people in their houses works for them and society.
Just giving people back money they invested (saved) with a foreign or home bank does very little for society.
MADDOG69: I wouldn't buy one just yet. That's for sure. I won't be buying one in Dublin and as you correctly pointed out before, the country market is still dropping. But I'd have NO problem buying a repo car or house at the right price. With a bit of land, not too far away from the M50 (40mins be nice), nice garden, few bedrooms, nice neighbours.
Different strokes and all. I personally couldn't buy a repo house or car. I just wouldn't feel right living in or driving it.
sofarsogood74:
Just giving people back money they invested (saved) with a foreign or home bank does very little for society.
Just giving people back money they invested (saved) with a foreign or home bank does very little for society.
Saved. It's saved. As for what it does for society? Apart from underpinning the foundations of Banking, if the Central Banks of the world decided to scrap their own Banking laws concerning deposits, we'd be at Mad Max stage tomorrow. I've made my point anyways.
MADDOG69: Saved. It's saved. As for what it does for society? Apart from underpinning the foundations of Banking, if the Central Banks of the world decided to scrap their own Banking laws concerning deposits, we'd be at Mad Max stage tomorrow. I've made my point anyways.
Banks go bust. People lose their money. It has happened since banking started hundreds of years ago. One of the major factors a person should look at before investing or depositing with a bank is how secure it is.
But for some reason now and in the past people always thought banks were bomb proof. They would never fail and they were all run by these financial geniuses. Something which couldn't be further from the truth. Banks are (were) private business entities. You invest or deposit with them there is always a chance if this particular business fails you lose your money. Just like if you invested in any business. People who invested (saved) with the banks you talk about are not the first to lose savings when a bank went bang and they wont be the last!
sofarsogood74: Banks go bust. People lose their money. It has happened since banking started hundreds of years ago. One of the major factors a person should look at before investing or depositing with a bank is how secure it is.
But for some reason now and in the past people always thought banks were bomb proof. They would never fail and they were all run by these financial geniuses. Something which couldn't be further from the truth. Banks are (were) private business entities. You invest or deposit with them there is always a chance if this particular business fails you lose your money. Just like if you invested in any business. People who invested (saved) with the banks you talk about are not the first to lose savings when a bank went bang and they wont be the last!
But for some reason now and in the past people always thought banks were bomb proof. They would never fail and they were all run by these financial geniuses. Something which couldn't be further from the truth. Banks are (were) private business entities. You invest or deposit with them there is always a chance if this particular business fails you lose your money. Just like if you invested in any business. People who invested (saved) with the banks you talk about are not the first to lose savings when a bank went bang and they wont be the last!
In America, not since before the war has anyone EVER lost 1 cent of SAVINGS money due to a bank failure, that was under the Federal Bank Insurance (Vast majority of normal banks). And dozens of Banks have failed.
So you're going to have to tell me what banks have results in SAVINGS been lost that were under the Central Bank watch. And don't be picking some 3rd world country or Albania or something like that.
THAT's what happens. Deposits are taken on under the auspices of a Central Bank to another functioning bank. If one of those cases were to happen that the Deposits were lost, then confidence in the Banking industry would disappear. If no functioning Bank has the capacity to take on, then the Central Bank takes on the Deposits or the Government Buys them out. That's what we see nowadays. We've got the Bank Guarantee. The US I think still has a 250k cap on Savings deposits.
That's what happens. The Nominal value of the Deposits are ringfenced and sent to a functioning bank. No such thing as 'the money was gone' just because they went bankrupt.
MADDOG69: In America, not since before the war has anyone EVER lost 1 cent of SAVINGS money due to a bank failure, that was under the Federal Bank Insurance (Vast majority of normal banks). And dozens of Banks have failed..
Well then they should have invested their money in America. But last time I looked Iceland wasn't a US states. If there was no risk in saving money with banks why did governments have to put guarantees in place??? Plenty of banks have failed around the world losing its savers money!
MADDOG69: So you're going to have to tell me what banks have results in SAVINGS been lost that were under the Central Bank watch. And don't be picking some 3rd world country or Albania or something like that.THAT's what happens..
Why do I have to tell you that? What you have to tell me is where is a government especially Iceland legally bound to protect deposits in banks???? If they were legally bound then a guarantee would never have been needed in the first place!!!!
MADDOG69: Deposits are taken on under the auspices of a Central Bank to another functioning bank. If one of those cases were to happen that the Deposits were lost, then confidence in the Banking industry would disappear. If no functioning Bank has the capacity to take on, then the Central Bank takes on the Deposits or the Government Buys them out. That's what we see nowadays. We've got the Bank Guarantee. The US I think still has a 250k cap on Savings deposits. .
There is no legal protection on deposits from the central banks. If there was the government would not have had to put a gurarntee in place. You are talking about what happens in the US without really going into legal obligations. The FACT is if you Invest or save with a bank and that bank goes bust your money is gone....If the central bank of that country wants to cover your loses it will and usually does. If the government has a guarantee in place this will cover you loses. But the central bank is not legally obliged to cover anything unless the banks has deposited said money with them!
MADDOG69: That's what happens. The Nominal value of the Deposits are ringfenced and sent to a functioning bank. No such thing as 'the money was gone' just because they went bankrupt.
Only if the money is on deposit with the central bank!!!! And during the boom very little was. It was thrown into the loan pond of cash that banks were playing musical chairs with to earn as much as possible in returns.
I am really sure you lost money in an icelandic banks now because you're like a dog with a bone and I can tell it's personal to you.
fifitheminx: yup!!!!!
then again...who isnt ????
then again...who isnt ????
Beep beep, where's me forklift?????????????????????????????
MADDOG69: Beep beep, where's me forklift?????????????????????????????
prob parked in the dimly lit beergarden near the bench i have my eye on
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The integration of all levels of income, all backgrounds, religions and ethnicity is the only way forward.
Yes Comrade, we'll all have a big party.