Member Info for 67Sam

https://www.theguardian.com/business/2022/jun/13/victims-of-one-of-uk-biggest-banking-frauds-to-be-offered-3m-compensation
If possible, momentarily suspend judgement over the fact this story is in a paper that MV thinks should be cancelled for historical links to slavery. It suggests the level of compensation offer Lloyds have made for the HBOS Reading is within the existing provision made last year. But it's still at least £600M in costs, if accepted. All this is reported as "according to a source", pending a formal announcement later this week.

Gazzle
"This reminds one of a grotty AIM share"
No, this one thinks you're exaggerating a little. This one thinks its a FTSE 100 share thats fairly pedestrian and boring but has reasonable prospects while providing some income.
"Hands up anyone who has changed their mind on any subject due to the force of argument on here."
Me. I am more confident that the current buyback at these prices is "a good thing". I was not convinced during the pre pandemic buyback at much higher prices. I do not think I agree with Gary59's explanation of buybacks, although I applaud the fact that he took care explaining his interpretation and most amazingly of all he didn't trash anyone else in the process.

Looks like lots of sellers today. Let's hope its a high volume buyback.

Baggs
"looking for any news on what might be happening at Lloyd’s"
Its nearly 44p a share with variable prospects in the near term but we all hope it will be 50p again one day. The buyback update is generally the most exciting part of the week days. All the news stories have already been posted, have a look. Bickering and flag waving at the weekend.

hardup
"go to the shop with 50p"
in 1981 that was my dinner money. it bought a packet of 10 john player specials at 42p and a small bag of sweets. Or occasionally a box of matches instead.

Mach
Im 55 so yes I have a house but still heavily mortgaged with 12 years left to work.
I started work in 1984 and since then I have reduced my hours from 42 to 37 per week. I don't remember a time when work wasn't demanding although the nature of what I do has been influenced by IT developments in that period.
"I don't know a single person whose parents don't own a house, regardless of the type of job they worked throughout their life"
I do, many of my friends have not enjoyed inherited wealth and their parents weren't owner occupiers.
My only real point is that it never seemed easy buying a house but it was possible years ago for many who wanted to. Because saving for a deposit was an achievable aim, eventually. And for me that is the key difference, I no longer see how it's possible unless you inherit. Thats in the context of the SouthWest, where I have always lived.

"The article's title "History tells us UK interest rates will go up and up" is exactly counter to the reality described in the content, FT sub-editors clearly don't bother to read the articles they headline!"
I assumed the title was contrasting the recent ultra low rates since 2008 and indicating there was no escape from increases because of QE drive inflation. So, up and up from here. 1% remains unfathomably low.

*If you can get past the paywall, the article is here
https://www.ft.com/content/e7829146-620f-434b-951c-176cb7036f06

He quotes from a "History of Interest Rates" by Homer and Sylla, arguing that the predicted rise to 2.5% would still be barely half the typical rate over the last 328 years. He suggests we should expect something nearer to 4-5%.
I read it and felt slightly better about having a long term holding in Lloyds.

You seem to really want to be in a room by yourself Pippa
I believe that is exactly what would happen, if you were to behave this way with guests.

"They need it straight and ruff"
Far out.
PlatoPlaysButch

Skier
"Boris is getting more popular."
Unhinged.

Norse
"Another one binned"
Are you talking to me?

Bum
"I don't think any of them have the same father"
Its not a crime.
" and I believe she has never worked"
Not with five kids I bet.
The thing is we all start off from different socio-economic positions and its a real drag that the more disadvantaged you are from the start the further you fall behind. Particularly if you're a woman who starts a family at a young age.
If the kids look well and feel loved then whats your problem? You get child benefit whatever, unless you earn more than £50k; it's not like it sponsors a cottage industry.

"It would be difficult to insist that the right to having children should be means tested.:
Sometimes I think it would be kinder to the children if it was. And it would also have a chance of depopulating the planet.
But it would be awful, just think of the endless replicated middle classes. How demeaning would it be applying to have children? More so than PIP?

Bum
"those who add children at will"
It would be difficult to insist that the right to having children should be means tested.
People make mistakes and poverty makes people make bad choices.
The UK was a leading world power throughout the 20th Century and has its particular share of responsibility for the world we live in today.
Not being the worst isn't a reason for me to wave flags.

Bum
agreed and in many countries they are far worse.
ER2 is UK only though.

"Someone will always be at the top. It is how the human world has evolved (with great success)."
Skier, we have an outdated monarchy and commonwealth, both are lining up for long overdue change when ER2 dies.
In that context we have a cost of living crisis, high inflation, a protracted European conflict, highest national debt since the war. Not forgetting this monarch presided over uncontrolled postwar exploitation of natural resources resulting in an ecological collapse and a sure fire bet we will exceed 2 deg warming this century. And then we could look at the massive differentials of wealth and life expectancy in 21st century Britain and the persistence of class privilege and inherited power.
I don't heap all the blame on the Royals as they are symbolic more than material and stuck in the position they are in.
But really, look around you. Do you call this great success?

Mach
I think you're a bit hard saying Musk is like Trump. Zip2 sold for $300M four years after he started it with his bro, having decided to turn down the chance to study at Stanford. Pretty ballsy move I think. I agree they have some common ground as personalities; harder to think of what Trump gave us in terms of useful progress though. Musk seems to also do a good job of fooling the world that mass produced high end electric cars are the answer to climate change. Theres much that I dislike about both of them, but I don't regard Musk as an idiot.

Plato
I earn about the average wage in the UK, not the minimum. I cant buy everything Id like to either but I can pay the gas bill.
Do you seriously believe the overwhelming concern of someone on minimum wage is that a carbon famed bicycle is unaffordable?
I get the impression you are basically quite an amiable person but you don't half come out with some self pitying drivel. I don't know your level of income but the things you bemoan as beyond your means suggest you're not quite as skint as you make out.
The references to glass making factories I cant piece together. It makes me think either you're becoming unwell, or that Ive completely missed some fundamental point you are making.

Pippa
"That idea needs stamping out right sharpish"
You sound like Hitler.