George Clooney look-alike

Telegraph: BoE will raise interest rates despite euro gloom, says Mark Carney

Carney needs an academy award for acting. In 2009, Cooney was included in Time's annual Time 100 as one of the "Most Influential People in the World." Alas, Mark Carney can't seem to make up his mind what's what. The Guardian recently advised him to say as little as possible to avoid more confusion - but he's not happy with a walk on part. To help him, Google has reminded us that stocks of Ouija Boards are all but depleted in advance of Black Friday. Maybe the MPC are still trying to find another way forward?

Posted by alan @ 06:51 PM 3 Comments

What’s Keeping Millennials at Home?

MISH'S Global Economic Trend Analysis: Fed "Mystified" Why Millennials Still Live at Home

Bearish blog comment on a Fed study and analysis of housing trends of American young adults. I suspect the stats are similar in the UK and many parts of the world.

Posted by mountain goat @ 03:42 PM 0 Comments

Life under Tory policy

Guardian: Revenge evictions: ‘An electrician said our shower was unsafe. The landlord’s response was to evict

What next ? Bring back the mills and pits ? "More and more tenants are being evicted – often unfairly – new figures show. But pressure is growing for change"

Posted by doomwatch @ 01:25 PM 5 Comments

Is Nationwide a safer home for savers?

BBC: Mortgage lending falls almost £1bn at Nationwide

"There is concern that the rules are prompting lenders to restrict mortgages to anyone who will still be paying off their loans into retirement". "Nationwide also said it had increased deposit balances by £3.5bn as the number of members with a Loyalty Saver account reached almost one million". Quick question: Is Nationwide safer than the main big banks?

Posted by alan @ 09:25 AM 13 Comments

Sunday, Nov 23, 2014

Black Swan rising?

Reuters: China ready to cut rates again on fears of deflation

"China's leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business failures and job losses, said sources involved in policy-making". "Many Chinese economists had been calling for bolder policy actions, as recent data showed the economy losing more steam in the fourth quarter and consumer price inflation falling. Full-year growth is on track to undershoot the government’s 7.5 percent target and mark the weakest expansion in 24 years". If true, this will hit the UK and EU.

Posted by alan @ 07:23 PM 10 Comments

Saturday, Nov 22, 2014

Something is very wrong

Department for Communities and Local Government: House Building: September Quarter 2014, England

Free markets generally respond to demand and rising prices with innovation and supply. Except when it comes to buidling houses it seems. Compare completions for housebuilding with prices over a similar period: This is where I found the DCLG report:

Posted by quiet guy @ 12:23 PM 2 Comments

Friday, Nov 21, 2014

What was that about a recovery?

Mail: Blow for George Osborne as government borrowing RISES sending the country's debt pile to £1.5 TRILLION

Borrowing increased by £3.7 billion in the 12 months to October UK's debt pile has now hit £1.5 trillion up £150 billion in just a year Debt now represents 79.5 per cent of Britain's entire economic output

Posted by hpwatcher @ 10:03 PM 2 Comments

Another prop for a stalling property market

Portfolio Adviser: China’s surprise rate cut sends shares soaring

China has cut interest rates for the first time in over two years in an effort to drive economic growth. The People’s Bank of China cut the one-year deposit rate by 25 basis points and one-year benchmark lending rates by 40 basis points, representing a surprise turnaround in policy. Stalls in factory growth and the property market have contributed to the slowest rate of economic expansion that China has experienced in nearly a quarter of a century. The FTSE 100 is trading up 76 points (1.14%) at 6754, largely due to the move by China.

Posted by jack c @ 04:27 PM 10 Comments

Thursday, Nov 20, 2014

US pension fund buys London estate.

Guardian: New Era estate scandal: families at the mercy of international speculators

Homes across London have turned into an international asset class and their residents now live in financial instruments

Posted by mountain goat @ 11:31 AM 7 Comments

Bought house at market top, now living well beyond their means

Mail: Just because I live in a £1m house doesn't mean I'm not on the breadline

''While our mortgage repayment is fixed at £2,000, factor in bills, food, loans and the general upkeep of four growing boys and it adds up to more than £4,000.'' - Like most of UK, this family think have a god given entitlement to whatever they want!

Posted by hpwatcher @ 06:41 AM 19 Comments

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