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very glad to see that new economic text books will contain the following advice to students...... (?)
'when your industry or company is completely rescued by the tax payer it is incumbent on the directors at the time to award themselves huge off the scale bonuses across the board. This can be done by simply increasing wages or making personal share awards at the pre bailout level. To not do so is against capitalism. Further if the tax payer could have used the money in much better ways to serve the interest of the majority of the peolpe and future generations (like build green energy power stations) this annoying fact is to be completely ignored. If it is recognisable to many that the tax burden has further resulted in real and unnecessary hardship to many tax payers this too is to be psychotically ignored .(it helps at this point to seek out some psychological reinforcement from like minded or religions or power circles already paying no tax)
It must therefore be the short term interest of all graduates by whatever means necessary to raise themselves above tax payer level , to make sure their sorry stories are never written and to go on to join the 'Authority of non-Contribution' (copyright!). At this level of society one is never asked to contribute intellectually or (god forbid) financially.
The name of this new rule is the Fairbairn Crown estate Banker Landlord Rule, FCBL Rule
Long live the 'Authority'.........
Shutting tax avoidance havens would help undo the 'medieval shocker' played by big landlords, crown estate , bankers, builders etc directly against the best interests of the tax payer post 2008, whose funds they purloined to rescue their backward behaviour* and fund shameful gangster like bonuses. *The backward behaviour is manifest in the poor provision of facilities at modern estates etc. Using modern equipment should be easier to provide compared to previous generations so points to great lack of executive talent and desire of poor ones to over reward themselves. Same has been observed in Russia wher densities are many multiples to facilities provided compared to last generations. Builders there have become super rich on this attack against own people and are rumoured to be untouchable. So here we have great commonality with Russia. Closing havens worldwide and other borderline facilitators like Israel, Ireland etc fully cooperating could lead to Europe embracing Russia and Putin and surrounding puppets gone by Christmas. The funds recovered from these dens returned to unit owners at 50 % of their purchase price . With funds they could be encouraged to buy interest bearing infrastructure bonds. Surplus from havens and ancil facilitators used for direct green energy provision and top quality free education briefed to not only find talent but educate to watch out for corruption and puppet advancement. Russian people I think would love to be liked by Europe and regarded European . This would be great way to found friendship and oligarchs and Putin would all be gone, and our own psychotic tax cheats too (or modified) with stolen assets (falsely rescued) rightfully returned to exchequer. Building standards,human orientated facilities and education at heart of handshake which every parent wants and would happily sign up to. It would also save on military budget. No access to any markets , high streets etc for tax avoiding corps or landlords. It's going to take a bit of moral behaviour to rescue reputation of establishment imo and this would help. There has to be clear evidence of generational improvement of standards and clear evidence establishment are not cheating tax payers in ways described above
With the resumption of stamp duty land charges, I have sold all my holdings in this and another housebuilder. Until the budget in Autumn, at best Mkt Cap will probably tread water, IMO. There may be consolidation in sector, to advance share price, but this is not obviousor assured. I like my money to be fully invested. Might be a mistake, but time will tell. i’ve bunged the money at MINI and SYNT and strengthened my stakes in MTU and TSTL
After 30 seconds research answered q have asked here often. Crown estate admin HAVE paid themselves bonuses . Follows racketeer JF et Al here and TP etc . Follows massive tax avoidance in havens , by business, by individuals who should know a lot better from history (see URA , OCT). Investment manager said to me was amazed by checks investors had to go thru COMPARED with checks directors didn't have to go thru. This is what happens . They all run off with the austerity taxes straight into own pockets. Progress that could have happened is crushed. When we made 10 years vaccine research in 1 year it showed we could have made 10 years green energy advances in 1 year too easily INSTEAD of rescuing the big landlords who then have just crashed through our fences and said like it or lump it. And then Putin and his gang say 'we'll have some of that too' and the world becomes more stupid and dangerous. Each side defending itself from bad practices of the other! Some things have become engrained as acceptable that strongly need to be questioned and brought back into line. Closing tax havens would help. Israel and others declare whose funds (from tax avoidance ) they are holding or facilitating . Various faiths sort out gangs acting under umbrella. Establishments apologise for their highly stupid actions AND be fined monetarily and with assets that they would normally have lost by normal economics IF the poor tax payer hadn't been forced to rescue their assets at the expense of what was actually needed. Intelligence services wake up a bit about what happened. All high street operators Costa, Nero, Starbucks, Landlords etc pay usual tax rates or are replaced, simple. We already had the ridiculous Nero asking for GOV Covid help ,itself a tax avoiders. IE for the tax payer to be screwed more to help the tax avoiders as per the pattern above. It seems to be a politician you decide to work with lobbies/standards that exist (and woeful lack of) and just crack on serving them for own career, not checking them and letting them get worse and worse (and the country too) . Austerity was arranged so fast but pay back is non existent. Fair description of events is non existent. That makes history fake
I don't think I have ever witnessed a situation like today when ftse down 1.68% resulted in a 4.79% decline in psn. I really need to know if psn is going to have a similar big sell from the open again so I can hedge my position!
Don't stress yourself. There is simply no point worrying about daily price movements, first because as a private punter you have no influence, second that corrections always happen on the up and the down side, third that despite whatever enthusiasm for a sector may be present the much broader market is consolidating.
Broadly, the market is in recovery and has been since the announcement of a viable vaccine. Economies are beginning to re-open and at some point the tap for endless printed "money" will be turned off. At the same time, mindful of Germany in the 1920's and currently countries such as Argentina, inflation is of concern. All the printed "money" has a price to be paid for its distribution and that is, of course, interest rates.
That in the 1950's through to the late 80's, interest rates were pretty stable at somewhere between 6% and 10% but really began to come under pressure in the mid 1990's when they rose to 16% or so. Since then, they have been steadily falling and that, coupled with the relaxation in lending terms plus increased choice of lender has been the driver of house prices. As the traditional family unit of married couple and 2.3 children (or whatever the statistic used to be) no longer exists, and the "nation of shopkeepers" has been acquired by retail chains, living above the shop ceased a couple of decades ago.
With a growing population that needs to live somewhere, so it is necessary to develop land. I cannot pretend that I would ever live in any house built by any of the current crop of house builders, but they do seem to sell an awful lot of them and at premium price.
Are we going to go down today? Already down almost 6% has set 3 lower lows of the day, second biggest faller in the ftse 350! More downside tomorrow too? This is too much or if markets bounce tomorrow this will go up massively too a proper reaction to positive results today?!