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>> No. 8117 Anonymous
6th January 2021
Wednesday 8:22 am
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Several lads here seem to have a grasp of investments and so on. Do any of you have a regular income outside "earner income"? What kind of category does it fall into, and how did you come into it?

I had a nice image, but brian isn't playing ball today. It's a list of different (very broad) types of income:
1 Earner income : work a job
2 Profit income : buy and sell
3 Interest income: lending money
4 Dividend income: owning stock
5 Rental income: renting out property
6 Capital gains : assets increase in value
7 Royalties: others use your work
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>> No. 8966 Anonymous
15th September 2021
Wednesday 11:27 pm
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>>8965
Other relevant metrics are BKT and MOP.
>> No. 8967 Anonymous
16th September 2021
Thursday 12:17 am
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>>8966
Depends - if you're already long CRT or FRK then everything is probably good for the next seven days. Othewise you should pull-out/sell.
>> No. 8968 Anonymous
16th September 2021
Thursday 1:15 am
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>>8967
That's a strategy that requires giving it everything you've got to pull off.
>> No. 8969 Anonymous
16th September 2021
Thursday 4:26 am
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>>8968
It does - but as long as your house is in order, and you're very long HOE, then everything should be okay.
>> No. 8978 Anonymous
22nd September 2021
Wednesday 6:54 pm
8978 Lab Grown Meat
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Leonardo Dicaprio just invested in Mosa Meat: https://mosameat.com/blog/leonardo-dicaprio-invests-in-mosa-meat.

As far as I know then the only way to get exposure to this sector is via Jim Mellon's Agronomics fund. It looks expensive -- 15% of any increase in NAV goes straight into Mellon's pocket (and that NAV comes from hard-to-value tiny private companies), but this is a hot area and unless you are a millionaire then you have no alternative.

I put £5k in a few weeks ago after listing to the Mellon interview on the Moneyweek podcast and then reading his "Moos Law". It is up 36% since then but I expect it to be more of a rollercoaster ride that a smooth trip to the moon.

It is far more interesting than my Temple Bar Investment Trust holding, which seems to be suffering from Long COVID - it has still not recovered to its pre March 2020 high.

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>> No. 3840 Anonymous
19th September 2013
Thursday 10:03 pm
3840 Pensions
The OFT have come out and said that many old (i.e. set up before 2001) pension schemes have high charges and offer savers poor value for money. They've also suggested a cap for auto-enrolment schemes, but it's going to be an almost meaningless gesture as you'd be very hard pressed to find a provider offering auto-enrolment terms with annual management charges greater than 1% anyway.

http://www.bbc.co.uk/news/business-24153012

The pension scheme I'm in at work (contribution: 5% employer, 5% employee gross) has management charges of 0.6%, which I'm alright with as it's less than I'd get if I was investing in collectives through an ISA.

However, I've put the charges and contribution details into Invidion's pension calculator for an idea of what I'd get when I'm 65, 40 years from now, and if my salary increases in line with National Average Earnings and I took the 25% tax-free lump sum I'd be looking at a pension in today's terms of 27.5% of my current salary. If I wanted a pension that would be about two-thirds of what I'm earning now then I'll need to contribute, assuming the employer contribution stays at 5%, 15% gross (12% net) of my salary every year for the next four decades. This does depend on what annuity rates will be like then and I'd also be getting the State Pension, as long as they haven't upped the age you receive it to 80 by then.

If it wasn't for the tax relief and my employer matching my contributions then I doubt I'd bother and I'd look into other ways to support myself while I'm in retirement. What about you lads? What are your thoughts on pensions? In my opinion to have any form of decent retirement income you're at the mercy of your employer offering a good pension scheme.
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>> No. 8973 Anonymous
16th September 2021
Thursday 7:46 am
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>>8970
Britain has one of the worst state pension systems in the developed world, possibly the worst, but overall it's broadly in line with everywhere else once private pensions are factored in. The problem with that is there are huge disparities in what people can build up privately, so you really are fucked unless your employer offers a good workplace scheme.
>> No. 8974 Anonymous
16th September 2021
Thursday 8:17 am
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>>8973
Throw in that the people currently retiring are basically the last of the final salary cohort, and benefits from private pensions are going to fall quite dramatically in future.
>> No. 8975 Anonymous
16th September 2021
Thursday 9:14 am
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>>8974
On the other hand, the number of people actively in a private sector pension scheme has increased from 3.6million in 2008 to 11million in 2018, largely thanks to auto enrolment.
>> No. 8976 Anonymous
16th September 2021
Thursday 10:02 am
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>>8975
On the one hand, that is true. On the other hand, most auto enrolment provision is shit with no matching. "Want to increase your contribution? Sure. Will we be matching that? Fuck you, take 5% and be grateful."
>> No. 8977 Anonymous
16th September 2021
Thursday 3:20 pm
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>>8976
That's why you ask about pension contributions during the job interview. I always bring it up and use it as a negotiating tactic.

It's surprising more people don't ask about employee benefits beyond salary. I worked with someone who left for a job paying more money, but he didn't realise until he got his contract he'd be working 40 hours per week instead of 35; his hourly pay went down and he ended up noticeably worse off than if he'd just do 5 hours a week overtime where he already was.

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>> No. 8958 Anonymous
15th September 2021
Wednesday 7:25 pm
8958 Small loan
I just switched to a new job, I am working from home at the moment but that would change soon. I am in dire need of moving, I have found a good house but I will have to pay 1.700 pounds for the deposit and everything else by the end of this week. At the moment I have 100 pounds in my account.
I will be paid my wage (2100 net pounds) on day 23th. What's the best way to cover for the short term need of cash? I will get the deposit back for my current house, but not before mid November.

Should I apply for a big overdraft with HSBC? Will they accept? I had an account with them since 2011 and I never had any problem, but I never asked for loans or overdrafts. In case they say "no", what options do I have? My credit score is about 975.

Thanks guys.
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>> No. 8959 Anonymous
15th September 2021
Wednesday 7:28 pm
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Ask for an advance on your salary.
>> No. 8960 Anonymous
15th September 2021
Wednesday 7:37 pm
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>>8958
>My credit score is about 975.

You'll easily get an overdraft.
>> No. 8961 Anonymous
15th September 2021
Wednesday 7:53 pm
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You will get an overdraft. If you don't, you'll still almost certainly score a 0% interest (for a limited time only!) credit card to get you by.
>> No. 8962 Anonymous
15th September 2021
Wednesday 8:28 pm
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>>8959
>>8961

Thanks for the good suggestions

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>> No. 8729 Anonymous
18th April 2021
Sunday 12:42 am
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Previously on Britfags: The Origin

It's exciting times as I've now saved up enough for a deposit on a small house for myself. It took 3 years of saving, living in a tiny flat, cutting corners where I can and corona-induced savings and market returns. Even chased meagre bonuses at work and sold holiday time.

Only no. In my excitement I forgot about all the other bullshit with surveyors, legal fees, any repair work etc. It looks like I'll need another £10k just when things are opening up again.

Is there a way out of this predicament? Looking at the market I'm about to be priced out of even a converted shed if I don't buy soon.
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>> No. 8938 Anonymous
1st September 2021
Wednesday 12:19 am
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>>8936
>I have been informed that getting multiple mortgages in principle is a bad idea; it fucks your credit rating right up.

Depends on the detail the perform. Most will advertise the fact they don't do a credit check and just do what amounts to some fag-packet maths on what you give them for income and expenditure etc. you can always ask first if unsure but I know Barclays offers a 10 minute response.

Mortgages in principle aren't binding, can be extended and it's based on you so if you have an offer of x amount you can use it for browsing elsewhere.

>I'm the invisible man and have only ever made one credit card purchase ever and the only regular payments I make are a £15 phone contract, so that could count against me and it's making me worried

Banking-lad may have some insights but honestly this stuff is black magic if you ask me. It might be worth opting for a more detailed check anyway just to know for sure before you make any offers on a house. At any rate for future reference:

1. You can use your credit card online you' know, just set it to pay off every month to dodge interest.
2. There's a do-dad you can do with your landlord where the rent you pay is recorded. Google it.
3. £15 is well expensive.

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>> No. 8939 Anonymous
1st September 2021
Wednesday 12:26 am
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>>8937
I assume that when you sell a house, you sign an agreement that if the house sells at all, the estate agent gets the commission. But then some houses are being sold by multiple estate agents. In any case, this particular house has nobody living in it; it was rented out previously and the tenants have moved out so the landlord, landlady, landfamily, whatever, are selling it.
>> No. 8940 Anonymous
1st September 2021
Wednesday 1:04 am
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>>8938
Thank you so much for your assistance so far. I found something on MoneySavingExpert which might be a good mortgage for me (no initial fees, available from a bank that's near the house I want, costs about the same as all the others from what I can tell) and it performs a "soft credit check", which seems to be a credit check that totally counts, but is invisible and therefore doesn't count. If I trusted banks at all, I might be able to infer more information, but alas they are rattlesnakes so I'm left to my own devices.

>Have you ever known someone working sales who wasn't a thick twat?
There are plenty of people, including myself when I was younger, who are just shit at finding a proper job and wind up doing these things temporarily. But this estate agent, which is called [Company Name] Homes, replied to my email and didn't sign it with a name, and even wrote "[Company Name] Hoes" instead, like they deal in prostitutes or garden tools. I laughed for hours before remembering I need them for probably the most important transaction of my life.
>> No. 8941 Anonymous
1st September 2021
Wednesday 1:34 am
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I've just applied for a mortgage in principle aaaaaaaagghhhhhh

My strategy was to get this sorted tonight and then reply to the email and hopefully get in before anyone else offers the actual advertised price. TSB said they'd do it in 20 minutes. I blazed through it, handed over all my details so they can check me and wonder if I'm an undercover spy from Turkmenistan with no dependents or other loans, and the very last page said, "Thank you; one of our friendly agents will contact you within 48 hours."

Now I'm really wondering if it was the brilliant idea I thought it was to smash a triple measure of neat gin before I started this.
>> No. 8942 Anonymous
1st September 2021
Wednesday 12:34 pm
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>>8941

The most surprising part of this post is that anyone on .gs measures their gin. Good luck with the mortgage, potentialhomeownerlad.

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>> No. 8927 Anonymous
1st August 2021
Sunday 10:31 am
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It seems we don't have a maths board.

I was the one that made the post in the /job/ thread and I'm getting a bit obsessed with that stupid 20 minute "test", because I strongly suspect I've come to the wrong answer (which seems ludicrously low) but can't pinpoint how. The job application obviously matters quite a lot to me, otherwise I wouldn't ask.

Rentry is just an alternative to Pastebin.

Question: https://rentry.co/pxka3
My attempted answer: https://rentry.co/inhd9

Can anyone tell me whether (and if so, how) I've fucked this?
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>> No. 8928 Anonymous
1st August 2021
Sunday 11:16 am
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Ok well I've never done ROI calculations before, so I'm not sure how to make use of the chance of success.

My back of large A4 fagpacket calculations initially focused on a baseline social cost without the grant for that three year period vs social cost with the vaccine. But I realised you can just jump straight to the jugular of social cost savings, something like this:

https://rentry.co/cfe43

No idea if that's right. See if anyone else chimes in with same answer.
You started OK, but I have no idea what this 0.9 business is on your third step.
>> No. 8929 Anonymous
1st August 2021
Sunday 11:32 am
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>>8928

God, I'm a thicko. I was reading the DALY figure in the question as "DALYs lost as across the whole population per year", i.e. 1 DALY lost for an entire year of new cases, but it's 1 DALY lost for every new case. No wonder I was off by orders of magnitude.

Thanks, mate. I'll give this another stab from start to finish.
>> No. 8930 Anonymous
2nd August 2021
Monday 7:20 pm
8930 spacer
>>8928

I took another crack and came to the same answer: https://rentry.co/gwysq

I can't think of another way I could be calculating this. For a while I was "umming" and "aahing" about what "success" means for the grant i.e. success of the application or success of the grant working? But I realised it's probably the latter.

1 DALY per case, not per year, puts us at 270B and the chance of working then cuts us down to a more reasonable figure.

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>> No. 8925 Anonymous
24th July 2021
Saturday 9:22 pm
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What's the best hedge against a global recession or a decade of stagflation following covid, outside of the property that we can't afford or REITs?

I'm hatching an idea that it might be investments in transportation infrastructure to address supply bottlenecks - China being capable of mass producing the low-end consumer goods that will keep people spending even as prices rise (aside from cars that are fucked). My other idea might be the space sector as an area of new economic growth using something like SSIT to balance out declines elsewhere.
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>> No. 8926 Anonymous
24th July 2021
Saturday 9:52 pm
8926 spacer
Hard drugs.

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>> No. 8909 Anonymous
10th July 2021
Saturday 5:52 pm
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If I wanted to artificially create a penny shortage in the UK, how much money would I need?

I'm not sure if you would need more than a few years of savings, just pop into the bank and ask if they can give you £30k in 1p coins. Presumably they would have to honour it and in doing so leave you hording a significant amount of the local if not national supply. Then I could sell packs of 9 for 10p to retailers desperate for change.
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>> No. 8920 Anonymous
11th July 2021
Sunday 10:01 am
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>>8918

As a Scot in England with a wallet full of Clydsedale Banknotes I am aghast.
>> No. 8921 Anonymous
11th July 2021
Sunday 3:42 pm
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>>8920
A Clydesdale fiver once thwarted my plans to buy a snack at Man Picc without having to deal with people. The automated till spat one out and I had to go to a staffed checkout to change it for real money.
>> No. 8922 Anonymous
11th July 2021
Sunday 3:46 pm
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"What do you mean you don't take £50 notes? It's legal tender, you have to!"
>> No. 8923 Anonymous
12th July 2021
Monday 12:38 am
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>>8922
I hate places that don't take £50s because it drives a vicious circle reducing the number in circulation and making it more likely those one does encounter are counterfeit.
>> No. 8924 Anonymous
12th July 2021
Monday 2:04 am
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>>8923

It's a shame that the ECB withdrew the 500 euro note, which always struck me as hilariously bonkers.

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>> No. 8631 Anonymous
6th April 2021
Tuesday 11:22 am
8631 How do people become wealthy?
I think I have a substantial gap in my knowledge that exists somewhere between personal finance and economics. Let me explain:

On the one side, there's literature on personal wealth, which ranges from "think yourself rich"-type snake oil to the lowest common denominator investment and savings advice. The better books here tend to be conservative and with a focus on basic financial stability and building "nest eggs" more than any analysis of how people actually accrue greater levels of wealth.

On the other side, I regularly read big-picture economic studies offering useful but still fairly broad observations like:
- the majority of wealth in the world is inherited
- people we think of as highly successful entrepreneurs often benefit indirectly from tremendous government (public) investment, either at the earlier, riskier stages of development or later when technologies are pushed to private markets
- social and cultural capital are important factors in accumulating wealth, and your class background can impact your earnings throughout your life even if you go to similar universities and work in similar industries
- certain countries are better settings for general social mobility and equality, but not necessarily becoming highly wealthy

What seems to be missing here is: how do the "socially mobile" become wealthy without large inheritances? What industries do they work in? Do they find a niche and start businesses? What sacrifices do they make to get there, and what did they have upon starting? How much must people rely on "angel investors" and already wealthy people? How far up the economic ladder can someone realistically expect to scale from a particular background, like say, a traditional working class family?

I feel like this is a difficult topic to properly look into because a) it draws attention to inequality and lack of meritocratic rewards, b) drawing attention to a niche would either immediately devalue it or it has already been capitalised on, c) research tends towards extremes of either social mobility as a whole or the case studies of the ultra-wealthy, and d) social mobility is generally on the decline, and there are fewer examples to study.

So where do I go for this, .gs? Where are the economic studies of how people from ordinary backgrounds make their wealth?
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>> No. 8865 Anonymous
15th June 2021
Tuesday 12:03 am
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>>8863
>They'd do it at home for free if they could, and that's why they're good enough at it to get paid more than we do.
You've got a rosy worldview. How are you managing to avoid working, or even hearing people whinge about jobs with cronyism or lazy and incompetent management?
>> No. 8866 Anonymous
15th June 2021
Tuesday 12:18 am
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I distinctly remember watching some video of some quality control people on an assembly line in the 70s or 80s testing electronics and thinking that if they had the radio on it would be my ideal job: boring, predictable, rote actions (plug it in, if it loads then box it, if it doesn't then chuck it) that you could do while daydreaming away to yourself. Unfortunately jobs like that no longer seem to exist (insofar as they ever did), so you're stuck with stuff that demands a much higher level of engagement and awareness, making it much more difficult to just compartmentalise away work and then come home to live your life.

Something like that seems much preferable to me (as a would be "creative" type) than the very popular idea of making your job your hobby. I've never liked that, since it would seem to logically follow that the opposite is also true: your hobby is now work. You can't take a break from it for a while and do something else, you can't pursue your own interests on a whim, you can't compartmentalise it as an escape from the bills and boredom of daily life. When you can't be bothered anymore, you're not just sick of work, you're sick of something you once loved.
Especially in the internet age, where you can make a living by streaming, or doing art, or whatever. You wind up piling on extra problems: You have to create for an audience and for an algorithm, rather than purely for yourself, and people who make a full time job out of their hobby can wind up crowding out those who're only in it for fun since they can afford higher production values, pushing everything in a more homogeneous direction as a result, discouraging people from taking a go at things themselves when they could just get a job and then pay someone else to do it on their behalf.
I suppose what I'm saying is: bring back the work-life balance and tedious manufacturing jobs. A very original and no-doubt unpopular proposal, but not one that's likely to make anybody rich.
>> No. 8867 Anonymous
15th June 2021
Tuesday 12:46 am
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>>8866

I'm a very important highly educated science person at the forefront of the covid response but the reality of my job is very much like that. Pipette this here, pipette that there, put that tube in that rack and that one in that rack. And that's hands on as far as lab work is concerned these days.

Re: the broader gist of the thread, or at least, the direction the OP wants it to go in:

I think you are missing the wood for the trees a bit here. You are asking how exactly people go about acheiving their fortune, but the point is when so many people are telling you it's all pretty much up to the cold, unfeeling personified concept of entirely random chance (or quantum determinism or whatever hair splitting rationale you subscribe to) is that there is no single, reliable way. A lot of different people just got extremely lucky because of the way entropy as a concept affects economic systems and game theory and all that high level wank.

The point is there's really no way to intentionally break into the realms of the Elon Musks or the Jeff Benzos. You can do pretty well for yourself if you put your head down and study and you know the right places to go to do it and you know the right places to go after that. But you're not going to make your genetic line into aristocracy by concious effort, and that's basically the end of it.
>> No. 8868 Anonymous
15th June 2021
Tuesday 1:20 am
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>>8865
They don't like the office politics, but they like the actual job responsibilities. If they were doing the job for free at home, like I mentioned, there would be far less politics. Checkmate, atheists.
>> No. 8869 Anonymous
15th June 2021
Tuesday 12:56 pm
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>>8866

>Unfortunately jobs like that no longer seem to exist

Search Universal Jobmatch for "production operative" or "manufacturing operative". Everyone's desperate for staff because the Bulgmanians have gone home and the natives would rather sign on.

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>> No. 8769 Anonymous
25th May 2021
Tuesday 5:35 pm
8769 China National Deficit
The Chinese national deficit worth around $500-billion when a more appropriate tally would be $2-trillion annually, or 7x $2-trillion adjusted for 4% inflation. Someone tell China to crank up the printing presses because their deviation from the international fiscal median is excessively more conservative than necessary.

This suggestion may be to quadruple the national PBOC guided deficit but it in total it is merely either a aggregate tax cut of 10% or 10% increase in national government expenditures.
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>> No. 8770 Anonymous
25th May 2021
Tuesday 5:36 pm
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I'm sure by 7x $2-trillion means conversion rate from us dollar to yuan.
>> No. 8771 Anonymous
25th May 2021
Tuesday 5:38 pm
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Send this to Xi Jumping, they need to complete more government projects.
>> No. 8772 Anonymous
25th May 2021
Tuesday 5:42 pm
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Actually, a more exact estimate of what the total national Chinese budget deficit should be is closer to 9-trillion Yuan or something around $1.2-trillion.
>> No. 8777 Anonymous
26th May 2021
Wednesday 11:59 pm
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Who do you think they owe the money to?
>> No. 8858 Anonymous
14th June 2021
Monday 1:45 pm
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>>8777chairman mao

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>> No. 8707 Anonymous
11th April 2021
Sunday 1:40 pm
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What are reasonable investments outside of your usual stocks and shares, collective funds and buy-to-let?

I've been told that buying a row of garages can be a nice little earner.
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>> No. 8711 Anonymous
11th April 2021
Sunday 9:26 pm
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I've toyed with the idea of buying a holiday home, but one on a dedicated holiday park rather than buying up a potential home in a touristy location.

https://www.rightmove.co.uk/properties/94485452#/

https://www.rightmove.co.uk/properties/103769594#/

Obviously you'd have to give the holiday park their cut and buy into the likes of their cleaning services, but you'd be getting about a grand a week during the summer holidays.
>> No. 8713 Anonymous
12th April 2021
Monday 1:57 am
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Rental yield on BTL is fucking terrible, the reason it continues to get people doing it is because every wanker on this island dreams of having a property empire.
>> No. 8714 Anonymous
12th April 2021
Monday 7:27 am
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>>8710
>outside of... funds

>>8713
>outside of... buy-to-let

Fucking hell, lads. It wasn't exactly a long OP.
>> No. 8843 Anonymous
8th June 2021
Tuesday 12:37 pm
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Is commercial property a good idea? I wouldn't want to be a proper residential landlord but I wouldn't mind owning a high street unit with a flat above it, like this:

https://www.rightmove.co.uk/commercial-property-for-sale/property-80052830.html
>> No. 8844 Anonymous
8th June 2021
Tuesday 1:06 pm
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>>8843
Like what?

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>> No. 8829 Anonymous
5th June 2021
Saturday 12:43 pm
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>A group of the world's richest nations reached a landmark deal on Saturday to close cross-border tax loopholes used by some of the world's biggest companies.

>The Group of Seven said it would back a minimum global corporation tax rate of at least 15%, and put in place measures to ensure taxes were paid in the countries where businesses operate. "After years of discussion, G7 finance ministers have reached a historic agreement to reform the global tax system to make it fit for the global digital age," British finance minister Rishi Sunak told reporters.

>The accord, which could form the basis of a global pact next month, is aimed at ending a decades-long "race to the bottom" in which countries have competed to attract corporate giants with ultra-low tax rates and exemptions. That has in turn cost their public coffers hundreds of billions of dollars - a shortfall they now need to recoup all the more urgently to pay for the huge cost of propping up economies ravaged by the coronavirus crisis.

>Ministers met face-to-face in London for the first time since the start of the COVID-19 pandemic. According to a copy of the final agreement seen by Reuters, the G7 ministers said they would "commit to a global minimum tax of at least 15% on a country by country basis". "We commit to reaching an equitable solution on the allocation of taxing rights, with market countries awarded taxing rights on at least 20% of profit exceeding a 10% margin for the largest and most profitable multinational enterprises," the text added.

>The ministers also agreed to move towards making companies declare their environmental impact in a more standard way so investors can decided more easily whether to fund them, a key goal for Britain. Rich nations have struggled for years to agree a way to raise more revenue from large multinationals such as Google, Amazon and Facebook, which often book profits in jurisdictions where they pay little or no tax. U.S. President Joe Biden's administration gave the stalled talks fresh impetus by proposing a minimum global corporation tax rate of 15%, above the level in countries such as Ireland but below the lowest level in the G7.

https://www.reuters.com/business/g7-nations-near-historic-deal-taxing-multinationals-2021-06-05/

Well there goes the Irish economy.
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>> No. 8838 Anonymous
5th June 2021
Saturday 5:21 pm
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But how will this be bad for the Irish economy? Ireland isn't in the G7. Neither is Luxembourg. I don't see the flag of Liechtenstein in your picture either, and I doubt any of those people are the finance minister for the Cayman Islands. Tax havens, for now at least, will be entirely unaffected.
>> No. 8841 Anonymous
5th June 2021
Saturday 5:47 pm
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>>8838
The G7 has the heft to direct what happens in the global economy and particularly when rest of the G20 get on board with it. That's why it meets.

If the G7 creates a system to ensure that 20% is paid in the market then the advantages offered to service multinationals in locating in tax havens disappears. Specifically the likes of Big Tech.
>> No. 8842 Anonymous
6th June 2021
Sunday 4:26 pm
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>>8841
Oh dear, how sad, never mind.

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>> No. 8814 Anonymous
2nd June 2021
Wednesday 8:15 pm
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Mods are asleep, post budgets. Don't forget to comment on budgets and suggest budgetary improvements.

Some explainers for mine:
-Savings go off budget.
-I budget an £800~ fund for 'circumstances' i.e. odd unexpected costs.
-10% of my budget is for dating but in reality, I get two takeaways and then the rest goes into savings.
-Christmas seems excessive but I'm putting £100 because it's a round number I can put into an investment fund.

I don't really take holidays because I'm saving for a home but if I'm visiting my parents then I'll just raid my dating budget. I'll probably start letting it accrue soon rather than it going into savings so I can see the world/mates or so otherwise be ready for the massive amounts of money relationships can drain.
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>> No. 8835 Anonymous
5th June 2021
Saturday 4:24 pm
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>>8834
I do wonder if there's some formula for working this out in terms of pension contributions v. return on investment. It's probably exists but I'm stupid and lazy.

The tax savings would be the main benefit in salary sacrifice but the opportunity cost and time preference etc. seems pretty steep along with locking you into a particular retirement where taking it early can carry some outrageous costs. We're all going to take early retirement in some form and likely won't be making large contributions near the end once we have to work part-time, a significant sum of money for your 60s therefore seems like a rational thing to hold. I'm not working at 75 no matter what robotic exoskeleton you give me, society can get fucked.
>> No. 8836 Anonymous
5th June 2021
Saturday 4:48 pm
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>>8835

>locking you into a particular retirement where taking it early can carry some outrageous costs

You can start taking out money from the age of 55 without penalty and with a reasonable amount of flexibility.

If you don't yet own a home, maxing out your Lifetime ISA allowance is a complete no-brainer.

https://www.gov.uk/personal-pensions-your-rights/how-you-can-take-pension

https://www.gov.uk/lifetime-isa
>> No. 8837 Anonymous
5th June 2021
Saturday 5:05 pm
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>>8831
Honestly, if I was taking home £4600 a month after tax, I'd probably put a lot of it into my pension too. It's a fucking shitton.
>> No. 8839 Anonymous
5th June 2021
Saturday 5:38 pm
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>>8836
Depends on your workplace pension. I'm on a defined-benefit so my pension has a 5% reduction on every year I take below state pension age.

>If you don't yet own a home, maxing out your Lifetime ISA allowance is a complete no-brainer.

Yes, we all do this but really that 1k bonus is a drop in the ocean. I would reservations if it's the entirety of your pension plan.
>> No. 8840 Anonymous
5th June 2021
Saturday 5:39 pm
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>>8835
Let's say you have £10,000 spare to invest. If you put it in an ISA then that's £10,000. If you put that into a pension then basic rate tax relief will gross that up to £12,500 and if you're a higher rate taxpayer you can claim a tax refund of a further £2,500 to make the net cost to you £7,500.

If we assume no growth and you took it out the following tax year then with the ISA you'd get your £10,000 back. With the pension if we assume it was 25% tax-free and 75% at a marginal rate of 20% then you'd receive £10,625 back so that's an immediate net uplift of 6.25% for the basic rate taxpayer and for the higher rate taxpayer a whopping 41.67%. Most higher rate taxpayers are basic rate taxpayers in retirement and many also have their personal allowance to take advantage of as well.

Let's say you leave it and it grows by 10%. The £10,000 in the ISA grows by £1,000 to £11,000. The £12,500 in the pension grows by £1,250 to £13,750. You've achieved further growth of £250 just by choosing a pension over the ISA; again if we assume 25% tax-free and 75% at basic rate tax then that £250 additional growth becomes being £212.50 net better off. You can see how this could add up over the years.

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>> No. 8778 Anonymous
27th May 2021
Thursday 3:46 am
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One mark to rule them all, one mark to bind them, one mark to being them all and in the darkness bind them.

A mark to unite the saboteurs, a mark to own them with debt, to own them by owning it and depending on it to own anything.
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>> No. 8780 Anonymous
27th May 2021
Thursday 3:37 pm
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I want my gold thanks.
>> No. 8781 Anonymous
27th May 2021
Thursday 3:47 pm
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>>8780

I have to say, UK bank notes are really beautifully designed.

US dollars look like prop money from a Wild West film.
>> No. 8782 Anonymous
27th May 2021
Thursday 3:54 pm
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>>8781
The yellow 100 with random photoshop styles as an overlay is particularly ugly.
>> No. 8783 Anonymous
27th May 2021
Thursday 4:42 pm
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>>8782
It really is hideous, it's like they opened paint and just took the eraser to the old design. I just don't get it.
>> No. 8808 Anonymous
28th May 2021
Friday 6:01 pm
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>>8783
It is supposed to look like ancient evil dead inscriptions to give it that official flavor.

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>> No. 3223 Anonymous
18th February 2013
Monday 7:58 pm
3223 Bitcoins
Have any of you bought Bitcoins or spoken to anybody that has?

The underlying principle of removing the role of the banking industry from transactions (or at least limiting its influence) seems noble but it stinks of a giant scam IMO.
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>> No. 8803 Anonymous
28th May 2021
Friday 4:28 pm
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>>8802
The coins are, the kit might not be. Unless they bought the miners on credit.
>> No. 8804 Anonymous
28th May 2021
Friday 4:28 pm
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>>8802

The bitcoin is undeniably the proceed of a crime, but is there any way to prove the hardware is?

Is this just one of those nasty little laws that means once you're proven to be a money-making criminal, anything purchased by you after the date of the proven crime becomes state property?
>> No. 8805 Anonymous
28th May 2021
Friday 5:31 pm
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>>8804

>Is this just one of those nasty little laws that means once you're proven to be a money-making criminal, anything purchased by you after the date of the proven crime becomes state property?

Not quite, but the courts do have fairly broad powers. In this case, after conviction the court could issue a confiscation order for the coins, or if they aren't recoverable other assets equivalent to the amount believed to be earned through criminal behaviour.

You don't necessarily have to be convicted of a crime to be subject to an unexplained wealth order, only reasonably suspected of having been involved in or connected to organised crime. An unexplained wealth order essentially reverses the burden of proof - if you can't show that you made your money legitimately, the court can confiscate it.

To be fair, the courts do use these powers quite sparingly and every case I've seen has involved utterly blatant criminality.
>> No. 8807 Anonymous
28th May 2021
Friday 5:59 pm
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Bitcoin is a
1. Penny stock pump and dump that can be traded off exchanges
2. A currency that is difficult to counterfeit
3. A credit for internets
>> No. 8809 Anonymous
29th May 2021
Saturday 8:45 pm
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>>8804
As always, laws are not self-enforcing, so the police would likely just seize it anyway and leave the crims to sue to get it back.

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