LK Hyman
30 Aug 2017
Re: One for nimbo Tomhawbuck," What is absurd is that these benefits are paid to everyone regardless"I don't find it absurd. What is absurd is that there are still large numbers of people who, through ignorance, "couldn't care less" attitude, or sheer fecklessness, fail to make private provision for their old age and then, when they reach that old age, expect the state to look after them.The tax benefits of contributing to a pension, though less generous than they were, are still highly favourable.I completely agree with you that the winter fuel allowance should be taxed. It would be easy for Spreadsheet Phil to bring that about but I doubt that the Tories would let him do that "because it'll lose us the dotards' votes".Ain't life grand?LKH on the flybridge
tomhawbuck
30 Aug 2017
Re: One for nimbo I read this thread with a growing sense of dismay. The fact is that for the poorest who rely on the state, the benefits are not generous. A pension of £500 a month, free bus travel in England, a winter fuel allowance of £240 per couple and a basic level of residential care if you become unable to care for yourself. Try living on that. What is absurd is that these benefits are paid to everyone regardless and in the case of winter fuel allowances and bus passes are not taxable. At the same time the wealthy have got richer because of low capital taxes, untaxed gains on houses and an increased ability to pass assets on to the next generation. Sadly the current crop of politicos don't have the cojones to deal with this. Mrs May's perfectly reasonable attempt to force us all to pay more for our own care was characterised by Labour as a dementia tax. So I doubt anything will be done for now. But, because of the demographic issues already mentioned, something must be done (to quote Vladimar Ilich). The longer action is delayed, the more extreme and confiscatory the eventual action is likely to be.
abeetle
29 Aug 2017
Re: One for nimbo I only have the one spouse - but I hear what you say (as e'er) - just hope circumstances after 2020 are similar to today!
LK Hyman
29 Aug 2017
Re: One for nimbo Abeetle,"Our aim is to reduce our assets to the level at which there'a nowt much left to strip"Ours too! The trick is for the second spouse to cark it with an estate of exactly £1 million some time after 2020. That way Spreadsheet Phil gets precisely nowt .... though, if you get it wrong, and leave more than that, the scoundrel will take 40p from every £ of excess.LKH on the flybridge
abeetle
29 Aug 2017
Re: One for nimbo ' The idea my parents get handed a bus pass and a tv license is hilarious and wrong'.Well bus passes aren't handed out - they have to be requested, your picture taken at a local library. and a very useful pass - or identity card as we recipients call them (if we have an accident or faint or some-such we can be identified)- issued. Only people willing to travel on a bus with the hoi-polloi seem to apply 
As to a TV license - not reached that age yet - but it's becoming an irrelevance, so much online stuff on Now TV (tip: excellent low-cost way of watching Sky), Amazon and Netflix and suchlike - unsightly aerials and dishes are anachronisms.Ah the state - as you say even Theresa (beloved by some) and her gang came up with the idea of the elderly paying for their care out of their estate - quite sensible but ill-advised at election time! It would help the elderly but reduce the amount 'cascading down' (John Major's phrase) to the next generations. Haven't heard of any sensible alternative though. What Jeremy would have in mind I suspect would be far worse.Our aim is to reduce our assets to the level at which there'a nowt much left to strip - Zen minimalism for us!
nimbo1
29 Aug 2017
Re: One for nimbo What the state pensions can pay for isn't really my point, - it's about whether a state pension for everyone is fair or even possible as we move into the future...given the backdrop of socio economic turmoil against the 'young have no assets, remainers' and the 'old have lots of assets, leavers'. the way I am very much of the view the poorest in society should be looked after as much as possible. There are lots of people out there who just do not need the state pension but are offered it. The idea my parents get handed a bus pass and a tv license is hilarious and wrong, 'i'll take the discovery and watch sky thanks'. The state pension system is a ponzi scheme isn't it? Simply someone retires and expects someone working to pay them their dues earned over their working lifetime. The model is built on the continuous creation of jobs and economic growth. the way pensions have only been around for 100 years or something like that, and far less in their current form. Add to that the demographics will start to make things look so much worse. Retire now at 60 and you've probably got another 40 years so the number of pensioners will just build and build while in all likelihood the number of people in lucrative employment will fall (don't take my word for it watch jack ma ([link] In Japan the liberal politicians have already started talking about the wealthy handing back their state pensions...I am in my 30's and will be expecting nothing from the state - if something is there then great. The governments know all this - it is why May tried to link the cost of old age care to stripping capital out of owned houses, there is not enough money to pay for everything. Of course it didn't go through this time but imo the targeting of the 'asset haves' is only just getting started. Sorry if my post contains generalisations.
abeetle
29 Aug 2017
Re: One for nimbo 'massive triple-locked pensions'Hmm, where do you get these? The triple-locked state pension just about covers Council Tax, utilities and a meagre provision of groats.Company final salary pensions (those of a certain age still benefit from them) are indeed pinned to inflation - mostly cpi but still some rpi. No way does cpi actually keep up with 'inflation' . Perhaps best thing is to have a massive pension in the first place and take steps to increase wealth through investment -definitely in dollar earners! But bear in mind -Rabbie Burns:'The best laid schemes o’ Mice an’ Men Gang aft agley, An’ lea’e us nought but grief an’ pain, For promis’d joy!
Bill1703
29 Aug 2017
Re: One for nimbo "It won't make for a cohesive society..."No indeed it won't ... this particular cat is now out of the bag, and it ain't going back in, any time soon!FWIW I think the younger generation should rise up and take back control... the future is theirs to take, not for the older generation to give. And the latter has done a really bad job of facilitating that future... particularly latterly, but also over a longer period.My only hope (particularly if things get nasty) is that the "younger generation" still see me as one of them, rather than one of the other... but it's a close run thing, right on the cusp!
LK Hyman
29 Aug 2017
Re: One for nimbo Nimbo,"It won't make for a cohesive society"Amen to that, which is the biggest threat facing Blighty, my humble.Unfortunately our craven politicos (of all stripes) are unlikely to do away with the triple lock because so many dotards vote. There might be a bit of tinkering at the edges (a double lock for example) but nothing that will frighten the horses.There should just be a single lock in my opinion ... a link to inflation and nothing else. People need the certainty that their pension will maintain its value in real terms. But, beyond that, they should know that they're on their own and anything else will have to be provided by themselves.LKH on the flybridge
nimbo1
29 Aug 2017
Re: One for nimbo Hi games, I voted remain sure and was surprised to see the leave vote although I try not to worry about it too much. I think the biggest problem with Brexit going into the future is the demographics - to generalise the young wanted in and old wanted out. It won't make for a cohesive society especially when the young are supporting even more oldies massive triple locked pensions whilst owning no assets and coping with rising living costs and stagnant wages. It just can't go on. (sure it probably will for a while but not when the old guard say good bye and representative figure heads begin to be elected). Me I can't worry about this stuff - its too big for my little brain to consider. I can't even comment too much on the EU as in practice I have no idea how it all works, although it certainly looks like a muddle! Weirdly Brexit improved my own quality of living because the day Brexit was announced I purchased shares that own all their income in other currencies, loads of Unilever : ) If the UK becomes (or remains?!) a great country on the global stage and strikes successful trade agreements with the world and Brexit turns out to be completely insignificant I will be happier than anyone even if all those currency gains are handed back through a multi year reversal.
LK Hyman
28 Aug 2017
Re: Diageo Games,"I think this could be fraud, as I suspect the United Sprits was."I doubt it, m8. It sounds much more like hubris to me. I can see the huge appeal of United Spirits when Walshy, the gritty Lancastrian predecessor to Ivan the chosen one, first started casting his eye over it. All them Indians pouring vast amounts of booze down their necks and the appealing idea that, if DGE bought United Spirits, they could get the Indian government to let 'em import Scotch at lower tariffs than then applied .... one would cut off one's left nut for that opportunity.Likewise, Ivan thinking to hisself, "Everyone's woken up to tequila; we lost Jose Cuervo but bai jove we're not gonnae lose again with tequila. So let's get tore in and buy up every tequila brand that sounds as if it's got half a chance of selling a few cases and let our salesmen rip with them".I think he just got carried away and was frit by the pretty flat sales that the legacy brands were achieving and thought "let's have some M&A action and see how we get on".LKH on the flybridge not bovvered any more 'cos he's out of Diageo
gamesinvestor
27 Aug 2017
Re: Diageo """"but I just think that yet another brand dreamed up by the three stooges that only sells 120,000 cases a year and is made in some kettle over which I have no quality control is worth up to a billion dollars of my shareholders' money".""I think this could be fraud, as I suspect the United Sprits was.It's quite scary to be investing in companies like this when you see this happen more than once under the same CEO.If it ever comes to light, the share price will absolutely tank.Games -- waiting for the Mayweather fight !!
LK Hyman
26 Aug 2017
Re: Diageo Picstloup,"inertia has paid off so far."I suspect that, once share price momentum has built up, as it has for better or worse with Diageo, it tends to continue well beyond the point at which, with hindsight, we will be able to say "That was the moment when Ivan lost the plot".Sorry to keep banging the same old Drum [one of Imperial Brands' finest brands] but I remain persuaded that the moment that Ivan lost the plot was when he thought to himself:"I know what I'm going to do ... I'm going to pay George, Rande, and Mike up to a billion dollars for Casamigos tequila. I know that I've already bought Don Julio tequila and DeLeon tequila [and I got to meet Puff Daddy himself!] and Peligroso tequila but I just think that yet another brand dreamed up by the three stooges that only sells 120,000 cases a year and is made in some kettle over which I have no quality control is worth up to a billion dollars of my shareholders' money".I wonder if Ivan would have paid that much if it had been HIS money on the line? OK, not really a fair question, because Ivan can deploy Diageo's massive resources to flog the stuff which he couldn't do if he set up on his own .... but still ....Other commentators have raised similar doubts over the logic of selling Bushmills Irish whiskey, with its long heritage and excellent brand recognition, and then creating a completely new brand called Roe & Co ... apparently as a kneejerk belated reaction to the dawning realisation that the world had fallen in love with Irish whiskey.I'm happy to be out of Diageo but wish everyone who keeps the faith with the shares the best of luck.LKH on the flybridge
picstloup
25 Aug 2017
Re: Diageo Price now £24.75. [11 August]__________ ________At which point I said I thought I'd sell 50% of my holding, but my usual inertia set in, and they're another 4% up with no immediate signs of flagging.I hate selling good shares, but these do seem toppish. And I've been saying that since about £20, so inertia has paid off so far.
gamesinvestor
25 Aug 2017
One for nimbo Hi Nimbo, I don't want to go all political one you m8 and it's not meant as a dig, but I couldn't resist lobbing this into the mix for all the lilly livered remainers (oh you contentious beast you - why did you have to add that emotive tone). Anyway it should make you laugh at the very least :--""Professor Thorsten Polleit said the EU project had once been a “very wise concept” for fostering peace and cooperation but became far too politicised and is now heading in the “wrong direction” of pursuing ever greater centralisation. In an interview the eminent German academic and financier urged European leaders to “start decentralising” if they want to save the bloc from oblivion and warned their efforts to prop up the single currency are doomed to fail. Professor Polleit also predicted that Britain will emerge from Brexit in better shape than the EU, because it will be able to liberalise its economy to attract greater investment and pursue genuinely free trade across the globe.He said: “The first signs are that the euro currency has failed and it’s only in place because the ECB has dropped interest rates to zero. Under normal conditions it would’ve collapsed already. It can’t compete - it’s a dead end policy. The bottom line is basically free trade is great for all parties involved, it brings greater material prosperity to everyone involved. At the same time for having free trade you don’t need this Single Market and all the bureaucracy that comes with it. """So, seemingly there are a few people, and in Germany as well, who can think clearly.Games -- Heh the sun's out and I'm out to lunch and playing golf this afternoon. Surely the EU can't regulate against that can they?
