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The Politics Thread

Discussion in 'Tottenham Hotspur' started by Wandering Yid, Feb 9, 2016.

  1. Treble

    Treble Keyser Söze

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    I was thinking the same. Defo one of those politicians who performs better without the spotlight/pressures of being the party leader.

    To provide some impartiality here, I think William Hague was the same.
     
    #23761
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  2. littleDinosaurLuke

    littleDinosaurLuke Well-Known Member

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    Latest government advice on managing the cost of living crisis:

    Had a tip on a horse running at the 3.40 at Newmarket tomorrow- 33/1. Worth putting your life savings on it each way
     
    #23762
  3. Left on the Shelf

    Left on the Shelf Well-Known Member

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    And again... This time The Washington Post calling Truss 'Bonkers'! <laugh>
     
    #23763
  4. Treble

    Treble Keyser Söze

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    I support the Independence for Scotland Party.

    And the People's Front of Judiah!

    So fck the SNP :emoticon-0165-muscl
     
    #23764
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  5. PleaseNotPoll

    PleaseNotPoll Well-Known Member
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    He knew. He may still be delusional about Thatcher, but he knew.
     
    #23765
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  6. PleaseNotPoll

    PleaseNotPoll Well-Known Member
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    In comparison to a literal fascist! <laugh>
     
    #23766
    Left on the Shelf likes this.
  7. Treble

    Treble Keyser Söze

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    He went proper Daily Mail as leader, but in most of his other posts I felt he thought things through and spoke really well.
     
    #23767
  8. littleDinosaurLuke

    littleDinosaurLuke Well-Known Member

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    Was it Dennis Healey who was ridiculed when the economy was similarly in peril because of massive debt and high inflation and he had to borrow from the IMF in return for reducing public spending?
    Kwarteng has got himself in a similar pickle already - but there is no public spending to reduce. They’ve done that to death.
     
    #23768
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  9. Treble

    Treble Keyser Söze

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    Errrm...

     
    #23769
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  10. The RDBD

    The RDBD Well-Known Member

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    Pension "unit" funds take as fees a % of the value of
    each customers funds. If the funds drop in value in a year,
    then the fund managers make a loss that year.

    So a loss taken out of N years of consecutive growth
    (N = 10 is a good heuristic : expect one financial crash per decade) .

    So what average % drop across UK fund management
    has currently occurred ??

    Semi-rhetorical question for me (as I will have a sample
    measure first thing tomorrow morning for my own fund) .


    "It all strikes me as a little bit 2008, to be honest."

    Not really.

    The CDO scandal was characterised by the buyers
    not being able to vaguely quantify the % linkage of
    each CDO type to funds based on the USA "sub-prime"
    mortgage market, so they assumed the very worst
    (something I contend in reality was not the case, and I
    still get WUM return on it from financial "markets" f**kwits :) ) .

    Pension fund managers by contrast are subject to the
    systems engineering adage that the true test of a system
    is how it behaves in a bad operating environment
    (their skill is changing the composition of the fund
    portfolios to minimise the drop in value) .
     
    #23770
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  11. PleaseNotPoll

    PleaseNotPoll Well-Known Member
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    He was given the leadership too early and didn't know what to do with it.
    Didn't have much of a chance against Blair anyway, regardless of what he did.
    I basically despise everything he stands for though, so I was never a fan.
     
    #23771
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  12. Treble

    Treble Keyser Söze

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    "Spending Efficiencies" <laugh>

    Called it btw...

     
    #23772
  13. PleaseNotPoll

    PleaseNotPoll Well-Known Member
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    The problem with conservatism is that you eventually run out of other people's money.
     
    #23773
  14. Treble

    Treble Keyser Söze

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    #23774
  15. PowerSpurs

    PowerSpurs Well-Known Member

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    There is a generic problem though which is similar to 2008 in concept if not in detail. If you hedge your risk with instruments that soak up a lot of cash in certain market moves, you need to be sure that you have a proper understanding of what the most extreme market move is. Because of the way pension liabilities are calculated most Pension Funds have huge initial exposure to interest rates. Most of them hedge that away. The most popular hedge a few years back was to match your liabilities with bonds. But that was deemed too expensive so the banks came up with clever derivatives that paid out if interest rates went down. This released lots of pension fund cash that could be put into riskier and therefore higher performing investments. But it seems the margin calls on a massive interest rate rise are not able to be met. I expect that the Pension Funds have not done too badly out of the recent changes on a net asset basis. The problem is they have run out of cash.
     
    #23775
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  16. The RDBD

    The RDBD Well-Known Member

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    I withdraw my "not really" comment. The reason being ...


    "But that was deemed too expensive so the banks came up with clever derivatives that paid out if interest rates went down."

    And there you have it yet again : "clever" and "derivatives" in the same sentence. <doh>

    The "masters of the universe" moron hubris needs to be
    completely purged from the financial sector.


    "But it seems the margin calls on a massive interest rate rise are not able to be met."

    If they have built a "decision support" graph (which will use
    "utility" theory) , what "ball park" values do you think they set for the

    1. probability that the base rate rises to 2.5% within a year
    2. utility value for #1 occurring
     
    #23776
  17. PowerSpurs

    PowerSpurs Well-Known Member

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    To be fair they would have based it on historical changes with quite a big margin but that wouldn't be enough to meet what has actually happened. They didn't model a Kwarteng/Truss government.
     
    #23777
  18. Left on the Shelf

    Left on the Shelf Well-Known Member

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    <laugh> but frighteningly accurate...

    20220929_062213.jpg
     
    #23778
  19. Spurf

    Spurf Thread Mover
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  20. humanbeingincroydon

    humanbeingincroydon Well-Known Member

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    That would be the same Chris Philp who gets a sizeable piece in the current issue of Private Eye shining the light on his property business which is as transparent as lead, has its tax affairs registered in Serbia and Montenegro, and has a track record of being an executive with companies who liquidate just before the taxman comes knocking

    And, you know, lives just down the road from me...
     
    #23780

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