George Clooney look-alike
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?
Whatâs Keeping Millennials at Home?
Life under Tory policy
Is Nationwide a safer home for savers?
"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 Â£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?
Black Swan rising?
"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 governmentâs 7.5 percent target and mark the weakest expansion in 24 years". If true, this will hit the UK and EU.
Something is very wrong
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: http://www.theguardian.com/business/2014/nov/20/britain-net-worth-rises. This is where I found the DCLG report: http://www.insidehousing.co.uk/home/blogs/stuttering-starts/7006963.blog
What was that about a recovery?
Another prop for a stalling property market
China has cut interest rates for the first time in over two years in an effort to drive economic growth. The Peopleâs 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.