roydo
in memoriam - 1965-2024
Or air craft carriers.
The head of the FCA is on something like £450000, no reason to think similar bodies dont pay similar rates.
Current Affairs The General Election
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Or air craft carriers.
The head of the FCA is on something like £450000, no reason to think similar bodies dont pay similar rates.
orchard
Player Valuation: £60m
Wasn't a recent/current defence sec. on record stating he wanted to convert old agricultural tractors into mbt's? And you're concerned about next gen. nuclear sub's, haha...
peteblue
Welcome back Wayne
The nonsense gets worse. He wants a 20:1 ratio between top to bottom, so manufacturing chiefs will end up being the lowest paid CEO’ while no doubt Universities will outsource low paid work and have lecturers as the lowest paid to compare with.....
“Six universities in England paid their vice-chancellors £500,000 or more in salary, bonuses and benefits last year, while nearly half of all VCs received more than £300,000, according to the higher education regulator’s first survey of senior staff pay.
The Open University, London Business School and the University of East London topped the table for leaders’ remuneration, with the OU paying out £718,000 in 2017-18, including compensation for loss of office, to its departed vice-chancellor Peter Horrocks.”......
peteblue
Welcome back Wayne
roydo
in memoriam - 1965-2024
Reading a BBC article, the 20:1 ratio applies to public sector CEOs, not companies bidding for contracts. That said, the pension gab is still there, (folk cant see the long term issue there yet), and he will de list FTSE 100 companies if they dont do something about carbon emissions or sommet.
Nuts frankly. A dangerous idea, with awful ramifications for the very people he is supposed to be acting for.
abelard
Player Valuation: £35m
Cheers, Pete.
In normal circumstances, inflation would start to be a problem as a result of growth from government stimulus, which is why central banks would then raise rates.
But we no longer live in what once seemed to be normal circumstances. If anything, there is a greater threat of deflation these days due to austerity, especially in the Eurozone. So there is actually quite a lot of room to maneuvre before inflation becomes a problem. Central Banks have created literally trillions in response to the 2008 crisis, for instance, yet deflation still remains arguably the larger threat.
The UK is exceptional in regard to inflation just now (though still well within the benchmark), but this is mostly caused by the Brexit-induced weakness of the Pound, which makes imports more expensive, ergo inflation. I suspect that the prospect of Labour delivering either a better Leave deal or Remain after a referendum would boost the Pound significantly, offsetting any inflation from stimulus - and in any case, inflation stems from growth (which is the main point of the exercise to begin with) and can be tempered by raising the interest rate, which, as I say, is also sorely needed.
As for housing prices, I don't necessarily think that they would spike as a result of Labour stimulus. Again, the whole point is to restore sanity to interest rates, and this would reduce the amount that people are able to borrow, and in turn what houses can fetch. Also, when governments consider inflation, they use very deliberately chosen consumer price metrics which do not include equities or real estate. Real estate operates separately from the headline inflation rate. If, theoretically, rent was included however, we would immediately see the impact of all the money that central banks have created - ask anyone who lets a flat whether or not there has been any inflation in the past ten years! As a result of quantitative easing and the appeal of real estate bubbles given the lack of overall growth, house prices are already extremely high relative to earnings, and there isn't really much scope for them to increase, especially after the economy begins to grow organically again and the BoE can stop printing money/restraining interest rates, which is what has sustained housing prices.
There are as you note winners and losers to any change in the balance between interest rates and inflation, but we have been so extreme in one direction as a result of austerity that addressing this is long overdue, and necessary to both mitigating the causes of the next crash and restoring the central banks' ability to contain it. And for institutions like pension funds, which are terrified of volatility and bubbles, and which priortise the conventional long-term safety of buying government debt, restoring this balance will more than compensate for the loss of investment in any individual firm like the Royal Mail or the utilities companies or BT.
orchard
Player Valuation: £60m
It's not what i'm drinking, and i don't think it's alcohol inspired:
Gavin Williamson, the defence secretary, has mystified officials with a series of “bizarre” and outlandish ideas including fitting guns to tractors.
Mr Williamson is said to have proposed using Coca-Cola lorries to disguise missile defence systems and converting old commercial ferries into beach assault craft.
roydo
in memoriam - 1965-2024
Is that serious?
orchard
Player Valuation: £60m
Yeah, i snipped that from The Times mate. Pete ought to pay more attention to the effwits he supports than potential issues that could ensue from hypothetical subjuncts. Labour won't have a majority sufficient for the most extreme policies.
abelard
Player Valuation: £35m
Nice one, though of course individual exceptions shouldn't shape policy. If you haven't yet, you should read the FT article I posted... you can certainly afford the subscription! ; )
There are still enormous returns to be had, to be sure, but mostly in real estate, slash-n-burn private equity liquidations, or equities - none of which appeal much to people looking further than the next few quarters. Anyone who priortises long-term stability (like pension funds) gets faint of heart and weak of knee in a hurry looking at P/E ratios on Wall Street, for instance
In fact, there is very little real productive growth to be found these days, largely because of the West's idiotic obsession with austerity. China has been the only game in town for the last decade, and it is looking like they are starting to run out of steam. Emerging markets are riskier still, because many of them have relied so much on exporting to China, and the flood of capital pouring into America has driven up the cost of the dollars they have to borrow. Europe is basically a write-off, especially Germany, where the malady of austerity is strongest. In America, where everyone rushes to park their money whenever the Americans do something stupid again, stock prices are illusions built on prayers stitched together by moonbeams. Global real estate is even more dubious; too much QE money sloshing around, and no place safe to park it. Buying and selling the narratives that fuel this can be profitable in the short term, but people responsible for whether or not thousands of professionals can retire or not in 30 years tend to look more carefully at the fundamentals beneath the narrative - and beyond QE-enabled speculation, or half-baked mergers and rote stock buybacks, there really isn't very much there.
When the whole mess inevitably unravels, it will make 2008 look like a picnic.
roydo
in memoriam - 1965-2024
I am struggling with the twin concepts of hiding defence systems in a lorry, and what beach ever will be invaded by UK troops.
peteblue
Welcome back Wayne
probably, that Williamson was a pillock, looks like all Coca Cola lorries will be hit first....can’t say I’m sorry tbh.....
peteblue
Welcome back Wayne
Probably New Brighton.......
roydo
in memoriam - 1965-2024
Being kind, I guess he could be called a creative thinker.
(Who should never be let out of the biscuit tin)
orchard
Player Valuation: £60m
Yeah, 'cos he' s the only member of the party to have wandered off out of the nursery without nanny.
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