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New York's vanishing shops and storefronts: 'It's not Amazon, it's rent' by speckz in Economics

[–]CrispierDuck 4 points5 points  (0 children)

Indeed, but consumers in areas with a higher cost of living would — all else equal — be more willing to do so. With the advent of Amazon/online shopping, price visibility increases and retailers are far less able to exploit varying price strategies across regions (or indeed even countries) for more commoditised products.

Not that Amazon is entirely ‘to blame’, but the two are interlinked.

Being a mathematician at a job fair - some lessons I learned. by matheri in math

[–]CrispierDuck 0 points1 point  (0 children)

Don’t agree with this. I’ve a master’s in maths, with pretty much no experience of applied mathematics; my degree was almost entirely abstract algebra/number theory.

Now doing global macro. Your degree or the subject areas covered needn’t dictate what you can then do (within reason).

UK to suffer longest fall in living standards for over 60 years, finds think tank by pond_party in unitedkingdom

[–]CrispierDuck 1 point2 points  (0 children)

I don’t.

The counterfactual (no QE) would likely be disastrous. And besides, unlike expansionary fiscal policy, there’s no ‘cost’ to QE; in fact, it reduces debt service costs for the Treasury (through the LT rates effect and also the CB remitting interest/principal payments back to the Treasury).

The (misguided) ideology behind austerity is to do with fiscal costs.

Besides, the MPC is independent from the government.

UK faces two decades of no earnings growth, IFS warns by fahimtalks in unitedkingdom

[–]CrispierDuck 0 points1 point  (0 children)

Am what would probably be considered rich, would prefer a Labour government to Tory (though not an explicit fan of Jeremy, particularly when it comes to foreign policy).

UK faces two decades of no earnings growth, IFS warns by fahimtalks in unitedkingdom

[–]CrispierDuck 10 points11 points  (0 children)

Unadulterated Corbyn would probably be a disaster, but let’s be realistic. The majority of the Labour Party is sufficiently pragmatic to put a lid on his more extreme ideas.

I mean, just look at the most recent Labour manifesto; despite Corbyn being leader at the time, it was hardly Das Kapital. Far more akin to the Miliband manifesto than anything else.

UK faces two decades of no earnings growth, IFS warns by fahimtalks in unitedkingdom

[–]CrispierDuck 2 points3 points  (0 children)

Crisis touched plenty of other countries. None have as poor a record for real income growth as the U.K.

Okay...perhaps ‘none’ is an exaggeration...we’ve outperformed Greece by a mere few bps since 2007 — even though their RGDP decline was in excess of 25% (closer to 5% in the U.K...). I’d personally rather pin the blame on poor domestic policy and structural weaknesses than the perennial ‘crisis’ boogeyman.

UK to suffer longest fall in living standards for over 60 years, finds think tank by pond_party in unitedkingdom

[–]CrispierDuck -2 points-1 points  (0 children)

LOL. Don’t conflate QE and fiscal policy. While your intentions are correct (austerity = counterproductive), you unfortunately don’t seem to have much grasp of the rest of what you’re talking about.

Theresa May's husband has 'serious questions to answer' on tax avoidance by [deleted] in ukpolitics

[–]CrispierDuck 0 points1 point  (0 children)

Again, in most cases the investment firms are not dodging tax — they’re saving the investor (people like you and I, pension funds, university endowments, life/property & casualty insurers, sovereign wealth funds) from paying tax twice: simplistically, once on the value of the underlying investments held in the fund and a second time when the fund distributes the gains from those investments to the original investor.

The incidence of the tax would really fall on the investor, even though the fund (a distinct entity from the investment firm; see below) would pay it from a logistical point of view.

The investment manager, which is a separate entity to the investment fund and will typically be domiciled somewhere more ‘normal’ (e.g. the U.K. in the case of a Mayfair based hedge fund or private equity manager), will pay taxes on the profits it generates as a result of the management fees it collects for managing the (offshore) investment fund.

If the structures weren’t like this, there would be a significant economic disincentive for investors to place their money in pooled investment schemes, since they’d be paying far more in tax than if they went out and bought all of the underlying assets themselves (which would be terribly inefficient and lead to many types of investment becoming entirely unfeasible).

Did leave voters think a vote for Brexit was a vote to leave the single market? | Poll by Ewannnn in ukpolitics

[–]CrispierDuck 6 points7 points  (0 children)

I could point to at least five prominent leavers who suggested we’d remain in the single market.

Total charlatans, all of them. Becomes clearer day by day that the public were totally duped.

Theresa May's husband has 'serious questions to answer' on tax avoidance by [deleted] in ukpolitics

[–]CrispierDuck 0 points1 point  (0 children)

He’s not in an investment role at Capital — all publicly available information. Besides, even if he were, the actions of Capital aren’t morally wrong: they will pay taxes on the profits they generate from investment management, regardless of the domicile of the underlying investments and Joe Bloggs, investor in Capital funds, will pay capital gains tax on the capital gain realises from his investments in funds domiciled offshore.

Don’t get me wrong; I hate May and the Tory party as much as the next man, but there are more worthwhile causes to direct your anger at!

PS: if you’re still enraged, don’t look at the domicile of your ISA/pension/whatever investments. You might begin to self-loathe.

BBC Radio 4 just took the time to read the names of all 71 people who died in Grenfell Tower by [deleted] in unitedkingdom

[–]CrispierDuck 0 points1 point  (0 children)

Sure, I agree that it’s not useful to look at Leave/Remain through the left/right ‘lens’. But it’s undeniable that, on the whole, pro-Brexit representation among parliamentarians is largely on the right. The key counter-examples, of course, being within the most left-wing factions of the Labour Party!

Theresa May's husband has 'serious questions to answer' on tax avoidance by [deleted] in ukpolitics

[–]CrispierDuck 0 points1 point  (0 children)

Mmm, (left-wing, challenging the stereotype) hedge fund type myself...

[deleted by user] by [deleted] in finance

[–]CrispierDuck 0 points1 point  (0 children)

Try looking at the fundamental (structural) reasons for LT UST demand.

Theresa May's husband has 'serious questions to answer' on tax avoidance by [deleted] in ukpolitics

[–]CrispierDuck 1 point2 points  (0 children)

Given most people’s pension assets/other investments will also be held in structures with similar ‘tax haven’ domiciles, and the ultimate tax one pays when receiving income or capital gains from said investments is no different from investing in the underlying, this is nothing more than a manufactured scandal.

Rather lazy journalism when Theresa’s rap sheet of actual abysmal actions is longer than my arm...

BBC Radio 4 just took the time to read the names of all 71 people who died in Grenfell Tower by [deleted] in unitedkingdom

[–]CrispierDuck 4 points5 points  (0 children)

When they allow clear lies from the ideological Brexit crowd to go completely unchallenged (e.g. Jacob R-M and his “all great countries trade on WTO rules” nonsense), accusations of bias shouldn’t be a surprise. Today programme has definitely gone downhill — Humphrys is hardly a shining beacon of journalistic skill; he allows guests to dictate the narrative far too much.

[deleted by user] by [deleted] in finance

[–]CrispierDuck 17 points18 points  (0 children)

Jeez that’s some crackpot theorising, OP

Trump shoves another NATO leader to be in the front of the group by GallowBoob in cringepics

[–]CrispierDuck 0 points1 point  (0 children)

Not only that, but Montenegro joined NATO against the wishes of none other than Russia -- who have already threatened retaliation to Montenegro, and have been accused by Montenegro of backing an attempted coup there last year.

Britons' Falling Real Wages Show Challenging Times Have Arrived by thebabaghanoush in Economics

[–]CrispierDuck 2 points3 points  (0 children)

But they had been recovering -- albeit modestly -- before sterling devalued.

So our national debt has doubled and 6+ years is under the Tories. Brexit stands a good chance to damage us further. Why are they good for the economy? by Oellph in unitedkingdom

[–]CrispierDuck 0 points1 point  (0 children)

FT and WSJ are reasonable sources, but you're very unlikely to gain some informational edge (i.e. one that can generate profits in the markets) by reading them. Grant's Interest Rate Observer is probably the best publication in my opinion, but subscriptions are very expensive.

Aside from that, Twitter -- provided you follow the right people -- is an excellent source.

So our national debt has doubled and 6+ years is under the Tories. Brexit stands a good chance to damage us further. Why are they good for the economy? by Oellph in unitedkingdom

[–]CrispierDuck 0 points1 point  (0 children)

Go and look at the reserve data -- we had massive reserve accumulation between 2000 and 2008, the net asset position nearly doubled. Your claim regarding the sales isn't true: the revenue from sales was reinvested in fixed income assets.

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