House prices ''going to the Moon''
UK's debt fuelled Ponzi growth to overtake Chinas by 2017
Up until a few years ago, conventional wisdom was that China would grow at nearly double digits as long as the eye could see. Then, however, something happened, and China's 9% growth became 8%, then 7% and even lower, as suddenly the Politburo made it quite clear China would not chase growth at any cost, especially when the cost is trillions in bad debt and other NPLs, as we have explained time and again. China's growth will slow sharply during the coming decade to 3.9% as its productivity nose dives and the countryâs leaders fail to push through tough measures to remake the economy, according to a report expected to come out Monday.
Whilst U-turn Dave and Cable ponce about..
Investors are concerned about the future stability of Britainâs business environment, warning of a âhuge uncertainty shockâ if the UK leaves the European Union, or ends up with another coalition government after next yearâs general election. In a new report published on Monday, the EY âITEM Clubâ predicts that growth investment in the UK will fall from 9 percent to 5.8 percent, while GDP growth will fall from 3.1 percent to 2.4 percent. The ITEM report also notes that the UK economy may find itself in a slump due to falling real wages, as the Bank of England pursues its low inflation strategy to keep the economy growing.
Bullish for slumlords?
Social Mobility and Child Poverty Commission report predicts number of households in absolute poverty will rise by one third this decade. It suggests that the link between effort and reward, on which social mobility relies, has been broken by changes in the housing market â with home ownership rates halving among young people in 20 years â and the labour market â with 5 million workers trapped in low pay.
Spare a penny Mr.Scrooge
Homeowners with property valued at Â£2m to Â£3m will face an extra tax bill of Â£3,000 a year if Labour comes to power. The new charge, along with an annual profit tax on tobacco company profits, would raise a combined Â£2.5bn a year, Labour estimates, which would be earmarked to pay for more spending on the National Health Service.