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 Mad Doc Grotsnik wrote:
I don't flatter myself when I say I know more about PPI than probably anyone else here - it's been my profession these past four and a bit years.

Yes, certain policies meant you always paid more than any potential claim would ever pay. Cleatly those policies were rip offs, and therefore inherently missold.

But. That doesn't apply to all ongoing policies. In its essence, any insurance contract is a gamble about just that. Car Insurance, Buildings Insurance, Contents Insurance, Life Insurance so on and so forth. The underwriter considers the risk, and issues a premium cost - simply betting that across all their insured, the premiums will cover all claims, with some left over to be their profit.

So not claiming on a policy doesn't mean it was missold. Your claim not covering what you've paid to date doesn't meant it was missold. That's just a natural feature of any and all insurance contracts and policies.

You're partially right about dodgy sales. Some policies made it harder for the self-employed to make a successful claim. Others had no additional terms for the self-employed.

As for successful claims? Again that's ultimately an unavoidable feature of insurance policies. They're there to cover unforeseen events. I've dealt with complaints where someone was sacked/walked out, and the insurance didn't pay out. But then, it wouldn't, would it. That's not unforeseen. That's very much within your control.



Mr Burning. People complain about their mortgage PPI as well as loan, store card, credit card, credit management plans. All sorts. And each complaint results in said cover being cancelled regardless.

It isn't mass cancellation. Disputing one type of cover on one product cannot lead to automatic cancellation of another product from another provider. It seemed that was what you were implying in your original posting above.

Unless you mean that a person cancels all their policies when a minimum or one may have been missold. Or a person just cancels it duet o scaremongering or in the face of advice in which case..sucks to be them.

I dont think lack of PPI will be a ticking timebomb.

PPI has seen millions of complaints. I can't recall the exact figures off hand, but it's silly numbers.

Mortgage PPI complaints make up their share. And each of those policies, missold or not, will have been cancelled due to said complaints.

I did edit my previous post for clarity, but we seem to have crossed

I'm talking purely about those who complained about the PPI in their mortgage. You are right that if you've not complained about that policy/sale, the policy remains in place, regardless of whether you complained about other products from that bank.

 Mad Doc Grotsnik wrote:
PPI has seen millions of complaints. I can't recall the exact figures off hand, but it's silly numbers.

Mortgage PPI complaints make up their share. And each of those policies, missold or not, will have been cancelled due to said complaints.

I did edit my previous post for clarity, but we seem to have crossed

I'm talking purely about those who complained about the PPI in their mortgage. You are right that if you've not complained about that policy/sale, the policy remains in place, regardless of whether you complained about other products from that bank.

Okay

The ticking time bomb of PPI is that the banking industry has had to pay several billion pounds of compensation for missold PPI over the past few years. Once this bonanza ends consumer spending is likely to drop.

Oh that too.

It's been commented/speculated that the whole shebang helped prevent the crash getting too bad last time.

 Kilkrazy wrote:
The ticking time bomb of PPI is that the banking industry has had to pay several billion pounds of compensation for missold PPI over the past few years. Once this bonanza ends consumer spending is likely to drop.

Several billions of pounds is a small drop in the ocean compared to the massive debts still being leveraged.

But it was liquid assets, often pumped back into our otherwise, at the time, ailing economy, and on luxury spending (cars and hols and that)

And it's that sort of liquidity any market needs to get back up on it's feet. Doesn't matter how many millionaires live in your town if nobody is spending after all

 Kilkrazy wrote:
The ticking time bomb of PPI is that the banking industry has had to pay several billion pounds of compensation for missold PPI over the past few years. Once this bonanza ends consumer spending is likely to drop.

Good point. I don't know of anyone that got PPI money back (rather than debt cleared off) that didn't spend more or less all of it over the following 6 months. That's a lot of money circulating for a brief while.

Makes me wonder if it's better to give cash to the poorest instead of bailing out banks - the poorest will almost always spend it rather than squirrelling it away in a tax haven.

There's certainly that.

The counter argument of course is that the wealthy pay more tax anyway, regardless of erm....tax efficiency programmes, simply because of VAT - so 20% of most of their spending goes into the Government coffers.

Which is nice, and accurate. To a point. All that money they don't spend doesn't attract tax - only the interest accrued, which again can be subject to tax efficiency programmes to obscure, hide or off-shore it.

is this us taking back control then ?

Artificial limb hanging off an artificial president ?


http://www.mirror.co.uk/news/uk-news/michael-gove-admits-didnt-ask-9630789#ICID=sharebar_twitter

"Michael Gove admits he didn't tell Theresa May before he interviewed Donald Trump"

.. bet she's thrilled eh ?

Didn't think the toad faced greaseweasel was an MP anymore?

Was sure he'd lit the blue touch paper then run, especially after not getting to be PM?

 Compel wrote:
Spain also need to be careful about Gibraltar as anything there could be turned back against them when it comes to Ceuta.

Gibraltarian people overwhelmingly want to stay under the Crown just like Ceutans overwhelmingly want to stay under the Spanish umbrella. I don't think anything resembling the HK return could be attempted nowadays without full consent of the population.

Now, if Brexit gives Gibraltarians cause enough to question their bonds to the UK, that's a whole different thing, but Ceutans (and Melillans) will still want to remain Spanish.

For the record, I don't think even the hardest Brexit would make much of a difference.

your taxes at work.

I fear another winter f discontent is upon us.

May's big speech will confirm that the Tories are totally clueless on Brexit.

NHS on the ropes

Trouble in Northern Ireland

Harsh weather

Strikes left, right, and centre...

Sterling going down like the Titanic

the nation drowning in a sea of debt...

Trump soon to be inaugurated...

Our politicians clearly not up to it, be they Tory, be they Labour...

Tough times ahead...

At the risk of sounding incendiary, a good working class uprising is well overdue. Too many pressures, too many broken promises.

Labour has a Leader and Union control like the 1970's, Mad Doc Grotsnik seems to have Labour phases from the same period!

 notprop wrote:
Labour has a Leader and Union control like the 1970's, Mad Doc Grotsnik seems to have Labour phases from the same period!

The power of the unions was broken in the 1980s and their strength has faded since then. In all areas, union membership, number of days lost to strike action ec etc pales in comparison to the 1970s.

The only people who miss the unions are the Tories and the Daily Mail, as they wheel out anti-union stories now and again, and try and convince us that we're back to the days of Red Robbo and the flying pickets, but they're not kidding anybody.

It's not inaccurate though

The working class have suffered the most over the past few decades of neo-liberalism, a system which served very well if you were in the right place at the right time - but has failed everyone else.

Consider this. I was born in 1980.

All the little perks my parents enjoyed have been slowly stripped away. It doesn't matter one iota who took what - they're gone, apparently because 'we can't afford that anymore' and 'there's no such thing as a free lunch'.

And that latter line is clearly nonsense. Those who went to University on the country's money, and then never had to pay it back through higher tax paying very much got a free lunch there.

What needs to be done is a serious challenge to the 'all because immigration' narrative, which is and always has been an outright lie.

 Mad Doc Grotsnik wrote:
At the risk of sounding incendiary, a good working class uprising is well overdue. Too many pressures, too many broken promises.

The people of Britain really aren't interested in radical change, be it left-wing, be it right-wing.

The EU referendum was more a re-run of the 1970s than any great desire to break free and go boldly into a new era, why else would they continue to trust May? She's as much a conservative as I am, and I despise that party

The Tories will sell this nation out to the highest bidder. They have no desire or interest to build a UK fit for the 21st century. Why would they? - They and their friends make money out of the status quo.

When flood victims continue to elect MPs of a party that cut flood defence funding whilst in government, I sometimes wonder about this nation...

 Do_I_Not_Like_That wrote:


When flood victims continue to elect MPs of a party that cut flood defence funding whilst in government, I sometimes wonder about this nation...

someone else will pick up the slack

 reds8n wrote:

 Do_I_Not_Like_That wrote:


When flood victims continue to elect MPs of a party that cut flood defence funding whilst in government, I sometimes wonder about this nation...

someone else will pick up the slack

The irony

 Mad Doc Grotsnik wrote:
At the risk of sounding incendiary, a good working class uprising is well overdue. Too many pressures, too many broken promises.

Its not going to happen in this day and age but the UK really should have had a good revolution or violently successful foreign invasion in its history. That would add some much needed humility to the national psyche.

 Silent Puffin? wrote:

 Mad Doc Grotsnik wrote:
At the risk of sounding incendiary, a good working class uprising is well overdue. Too many pressures, too many broken promises.

Its not going to happen in this day and age but the UK really should have had a good revolution or violently successful foreign invasion in its history. That would add some much needed humility to the national psyche.

OK how about this.

Trump leaves NATO. Russia laughing itself silly invades the Baltics. UK still in NATO goes to war, but after Russia walks through the door because we realise our armed forces are massively numerically inferior. Trump gets pissed off that Gove's house got smashed. Decides if he can't have it, no one can. Asks Russia to leave which they do so. Trump then nukes the UK to make a point and to make "America Great Again". British, those that survive anyway, continue to grumble about the weather.




Automatically Appended Next Post:

 Mad Doc Grotsnik wrote:
It's not inaccurate though

The working class have suffered the most over the past few decades of neo-liberalism, a system which served very well if you were in the right place at the right time - but has failed everyone else.

Consider this. I was born in 1980.

All the little perks my parents enjoyed have been slowly stripped away. It doesn't matter one iota who took what - they're gone, apparently because 'we can't afford that anymore' and 'there's no such thing as a free lunch'.

Overall we are 'better off' in terms of resources than we were 30/40 years ago. Vast amount of people now go abroad for holidays, everyone has their own TV, which was pretty unique event if you did so and so on. The real issue is that the distribution of wealth has become seriously slanted to the super rich (and given what appears to be Brexit plans appears to not going to slow at all). The vastly wealthy then started influencing the governments of the day to favour those with the money and consistently weak governments have pandered to it, to the point where these same people now get into power. I don't really see this as neoliberalism's issue but more a human trait that has gone on for 1000's of years. Eventually it does result in a populace uprising but it's not pretty because those in power generally don't like to let go.

Individual evidence is only ever anecdotal. I could argue the opposite from yourself. I'm a couple of years older, paid and worked my way through university (twice) to the point where I am soon hopefully to be a Dr (science not medical). Yet I came from that working class background. I have a brother that had the same opportunities (same schooling, university options and so on) as I did but has remained as 'working class'.

On an aside, although slightly Trump related because of Gove I found this article amusing

http://www.huffingtonpost.co.uk/entry/trump-gove-nonsense_uk_587c9a9ce4b04a8bfe6ac6eb?ir=UK+Politics&utm_hp_ref=uk-politics

Surely Gove must have asked more than three questions?

 Kilkrazy wrote:
Surely Gove must have asked more than three questions?

I think so. It's just Huffington post highlighting some of the more nonsensical ones. I particularly like the meme with regards the Iran response.

 Silent Puffin? wrote:

 Mad Doc Grotsnik wrote:
At the risk of sounding incendiary, a good working class uprising is well overdue. Too many pressures, too many broken promises.

Its not going to happen in this day and age but the UK really should have had a good revolution or violently successful foreign invasion in its history. That would add some much needed humility to the national psyche.

That all sounds dreadfully uncivilised don't you know, old boy?

http://www.huffingtonpost.co.uk/entry/ikea-renewable-energy-fund-wont-benefit-britain_uk_5878c125e4b0f3b82a375ba4?utm_hp_ref=uk

This isn't really encouraging about the UK's progress towards a greener future. However with a definite push towards fracking and decreasing the incentivising of renewables I can see why Ikea are doing this. Still I recall in 2010 when the then government said they'd be the greenest ever.

And although I don't particularly like May I find these type of comments quite ridiculous (with sexist and racist overtones) from potentially Trumps future ambassador.

http://www.huffingtonpost.co.uk/entry/donald-trump-a-white-knight-coming-to-rescue-damsel-in-distress-theresa-may-says-possible-us-ambassador-to-eu_uk_587ce50be4b0f3b82a383bb4?utm_hp_ref=uk

I'm more inclined to think of Trump being Sauron or the Emperor from Star Wars to be honest!

I can't be the only one that's thinking that the world would be better off if May does manage to position herself at a point that Trump listens to her, rather than Putin.

 Ketara wrote:

 Silent Puffin? wrote:

 Mad Doc Grotsnik wrote:
At the risk of sounding incendiary, a good working class uprising is well overdue. Too many pressures, too many broken promises.

Its not going to happen in this day and age but the UK really should have had a good revolution or violently successful foreign invasion in its history. That would add some much needed humility to the national psyche.

That all sounds dreadfully uncivilised don't you know, old boy?

I don't know, I've been just contemplating whether or not a forcible invasion by a foreign power that overthrows our Govt and imposes it's own puppet dictatorship is necessarily a bad thing.
I know the Dutch can be quite handy in a scrap, so maybe if we put it about that we have a huge stash of tulip bulbs and chocolate sprinkles they might pop over for a bit.

It's official, we'll be going to the polls here in N.I. It's a shame that this probably won't change anything.