Bay 12 Games Forum

Please login or register.

Login with username, password and session length
Advanced search  
Pages: 1 ... 25 26 [27] 28 29 ... 35

Author Topic: United Kingdom Bunker Thread - Politics & Economics  (Read 29886 times)

McTraveller

  • Bay Watcher
  • This text isn't very personal.
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #390 on: June 23, 2023, 11:55:08 am »

Was just reading an article about a looming "UK mortgage crisis."  It talked about two-year mortgages? What is that?  It said "people that bought a house when mortgages were 1%-2% interest, are now going to be paying 6%."

Does UK not have 15 or 30 year mortgages? Does it force everyone into an ARM or 5/1 or something that requires refinancing in only 2 years?

Sounds very odd for those of us in different situations.  (Not gonna lie; I feel like I'm stealing, having locked in 2.25% for a 15-year mortgage on my house.)
Logged

EuchreJack

  • Bay Watcher
  • Lord of Norderland - Lv 20 SKOOKUM ROC
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #391 on: June 23, 2023, 12:37:33 pm »

Was just reading an article about a looming "UK mortgage crisis."  It talked about two-year mortgages? What is that?  It said "people that bought a house when mortgages were 1%-2% interest, are now going to be paying 6%."

Does UK not have 15 or 30 year mortgages? Does it force everyone into an ARM or 5/1 or something that requires refinancing in only 2 years?

Sounds very odd for those of us in different situations.  (Not gonna lie; I feel like I'm stealing, having locked in 2.25% for a 15-year mortgage on my house.)
Well, you probably paid the bank a 1-2K "mortgage origination fee", so the bank doesn't care. They've already sold your mortgage, but kept your origination fee.

Starver

  • Bay Watcher
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #393 on: June 23, 2023, 04:27:29 pm »

I'm not too familiar with all current (and recent) mortgage deals, but it may be that it's "25 year motgage with 2 years fixed-rate", then it normally switches to track BoE rate (plus an amount) unless a renegotiated/trasfered deal is made, assuming that such a switch is actually possible... which, right now, it isn't.

But expectations for everyone, two years ago, are that it would be best-of-all-worlds. Or close to it, at the risk of the locked-in fixed rate was undermined by the 'dynamic' rates that could have been had at the time.

As with all financial 'instruments' (both internal to the FinTech industry and made available to 'investors', and of course those borrowing), it's a gamble that prices/etc behave in a certain way. A 'hump' happening to everyone else whilst you're happily within your prearranged constant liabilities, then hitting a handy trough around the time you have to work out what you're doing afterwards.

(And, as with all betting, it's extremely unlikely that the House loses out. They're probably covered by their own 'safety-bets', every which-way, against having presented an inadvertently far too-advantageous offer to the everyday Joes that they 'help'.)
Logged

Duuvian

  • Bay Watcher
  • Internet ≠ Real Life
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #394 on: July 03, 2023, 04:15:32 am »

Labour led by ‘right-wing, illiberal group’, senior MP says
A ‘right-wing, illiberal faction’ has taken over Labour and is engaging in a ‘witch-hunt’, Jon Cruddas has claimed.

https://www.thelondoneconomic.com/politics/labour-led-by-right-wing-illiberal-group-senior-mp-says-351884/

Spoiler (click to show/hide)

Seems credible (at first glance, which is all I've given it so far) from what I've been seeing. Anyone more situated to have personal knowledge care to refute this?

EDIT: I'd probably use the adjectives "oligarchic" or "corporate" rather than far-right as the link does, though illiberal does some a fit.
« Last Edit: July 03, 2023, 04:29:59 am by Duuvian »
Logged
FINISHED original composition:
https://app.box.com/s/jq526ppvri67astrc23bwvgrkxaicedj

Sort of finished and awaiting remix due to loss of most recent song file before addition of drums:
https://www.box.com/s/s3oba05kh8mfi3sorjm0 <-zguit

Starver

  • Bay Watcher
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #395 on: July 03, 2023, 04:52:19 am »

I seem to recall that The London Economic was very tied to stances that are antithetical to those held by Starmer (e.g. Brexit, fossil fuels, the matter of Corbyn), so they would probably attack his leadership on basic principle.

Can't say if they're also right about this or not. I've now developed a pavlovian aversion to anyone claiming "witch hunt", but I can still imagine it to be true rather than a more mundane deflection-defense. Given that official Labour lines are that they're out to win the next election directly, not aiming for coalition, there's probably nuggets of truth. Yet (either way) there'll be a lot more background to the issue that we're not made privvy to. Various parties have been ejecting/letting go various members for a while and for a variety of reasons, recently, and I don't see long standing membership being a reason to stay the otherwise righteous hand (nor reliable proof against 'illiberal machinations', should that be the case).
Logged

scriver

  • Bay Watcher
  • City streets ain't got much pity
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #396 on: July 03, 2023, 05:06:43 am »

though illiberal does some a fit.

Does it, though? The very essence of Labour and the labour movement is anti-liberal. "Oligarchic" and "corporate" are pro-liberal adjectives.
 

I've now developed a pavlovian aversion to anyone claiming "witch hunt"

Why are you staging this witch hunt on witch hunts
Logged
Love, scriver~

Grim Portent

  • Bay Watcher
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #397 on: July 03, 2023, 06:10:32 am »

though illiberal does some a fit.

Does it, though? The very essence of Labour and the labour movement is anti-liberal. "Oligarchic" and "corporate" are pro-liberal adjectives.

Liberal in the context of British media has a lot of overlap with the American version, where it's associated with social progress and individual liberty. He's anti-social liberty in that he's not socially progressive or in favour of things like public protest, immigration or refugees. He's also been making efforts to purge the socialists from the party, despite them being the people that founded the original Labour party.

He is also pretty pro-corporation. Increasing regulations and empowering our various regulatory bodies to better enforce existing regulations has not been part of his policy rhetoric despire the fact that it's desperately needed.
Logged
There once was a dwarf in a cave,
who many would consider brave.
With a head like a block
he went out for a sock,
his ass I won't bother to save.

Duuvian

  • Bay Watcher
  • Internet ≠ Real Life
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #398 on: July 04, 2023, 04:30:45 am »

The London Economic is a labour rag from what I've seen. It's actually been quite favorable to Sir Keir in the past. I think that the purge expanded past Corbynites has rattled parts of labour who feel Starmer is unlikely to stop there.

Sorry Starver, I have to disagree. This is a long standing pattern of foolish and short sighted behaviour of this sort in the previous few decades among left of center moderates. I say foolish because of how it is self defeating.

This is because liberalism is like a fortress of the moderate. If moderates commit to investiture of this fortress, it is true they may cast it down. This is more easily accomplished with allies of convenience. However, once the garrison are trampled, in chains, or banished the moderates then find themselves in a fortress with a broken wall and among allies no more.
Logged
FINISHED original composition:
https://app.box.com/s/jq526ppvri67astrc23bwvgrkxaicedj

Sort of finished and awaiting remix due to loss of most recent song file before addition of drums:
https://www.box.com/s/s3oba05kh8mfi3sorjm0 <-zguit

Starver

  • Bay Watcher
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #399 on: July 04, 2023, 05:01:39 am »

Sorry Starver, I have to disagree.
Strangely, I don't see where you disagree with the thoughts behind that initial response. Maybe it was because I was somewhat equivocal (or so I thought), and you read my flip-side caveats as my main point. That'd be my fault. Or not understanding/comprehending the article enough when I first read it, to respond to the wrong bits.
Logged

Duuvian

  • Bay Watcher
  • Internet ≠ Real Life
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #400 on: July 04, 2023, 05:07:51 am »

Oops, sorry Starver. I read Scriver's sarcastic quote and took that as reflective of your post. My mistake, I should have re-read it for better context.

Grim Portent has accurately clarified for me what I meant by the posting about Starmer, thank you.
Logged
FINISHED original composition:
https://app.box.com/s/jq526ppvri67astrc23bwvgrkxaicedj

Sort of finished and awaiting remix due to loss of most recent song file before addition of drums:
https://www.box.com/s/s3oba05kh8mfi3sorjm0 <-zguit

Loud Whispers

  • Bay Watcher
  • They said we have to aim higher, so we dug deeper.
    • View Profile
    • I APPLAUD YOU SIRRAH
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #401 on: July 05, 2023, 09:27:54 pm »

Why are you staging this witch hunt on witch hunts
Who will witch hunt the witch hunts?

Also yeah Keir has done two purges already, first anyone who was critical of Israel then anyone who was pro-labour

It's reflected in the diminishing relevance of the labour unions in the labour party as big corporate donors become the labour party's patron

Basically just wants to return to the Blair days of "we're liberal in the sense of subsidising corporations but not in the sense of liberty, equality or fairness but we'll wave a rainbow flag lol"
« Last Edit: July 05, 2023, 09:29:37 pm by Loud Whispers »
Logged

EuchreJack

  • Bay Watcher
  • Lord of Norderland - Lv 20 SKOOKUM ROC
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #402 on: July 11, 2023, 09:07:53 am »

Speaking of subsidizing corporations:
https://amp.cnn.com/cnn/2023/07/11/economy/uk-pension-funds-reform-hunt/index.html

Risky move, tying people's retirement savings to less-certain investments. There is a good reason why pension funds invest the way they traditionally do...

MorleyDev

  • Bay Watcher
  • "It is not enough for it to just work."
    • View Profile
    • MorleyDev
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #403 on: July 11, 2023, 09:15:03 am »

Basically just wants to return to the Blair days of "we're liberal in the sense of subsidising corporations but not in the sense of liberty, equality or fairness but we'll wave a rainbow flag lol"

It's realpolitik. Conservatives feel they have to posture themselves as less of dicks than they are to get elected, whilst Labour apparently feel they have to try and be bigger dicks to get elected.

I understand the perspective, but I'm very much not a fan of realpolitik and think politicians should be trying to convince the public of their arguments, not adapting their arguments to the public. But I guess it's an inevitability when you have only a few large parties. Is yet another reason we need to scrap first past the post already -_-
Logged

EuchreJack

  • Bay Watcher
  • Lord of Norderland - Lv 20 SKOOKUM ROC
    • View Profile
Re: United Kingdom Bunker Thread - Politics & Economics
« Reply #404 on: July 11, 2023, 11:08:21 am »

I'm somewhat fond of the idea that Legislative representatives are representatives of their constituents, thus the politician must follow the people, not the other way around.
... it's kinda hard to follow when the average constituents are racist bigots. Or at least, they're the LOUDEST constituents.
Pages: 1 ... 25 26 [27] 28 29 ... 35