Oh noes, meaningless rigged stats looking bad
The UK's GDP growth fell to 0.7 per cent in the third quarter of 2014, figures released by the Office for National Statistics this morning showed. The figure is slightly down from the second quarter's 0.9 per cent, although slower growth had been expected. The government will be fervently hoping that growth holds up well as the May 2015 general election draws ever nearer, and it will be particularly hoping that earnings growth picks up and inflation remains low so that an increasing number of voters feel that their living standards are improving. The new normal means weak growth is good for house prices because interest rates stay lower for longer.
Anything to get buyers into my shop to buy houses!!
Hard landing for London as no Chinese equity to re-leveraged in London
Chinese home prices fell for a fifth straight month in September, wiping out gains scored in the past year and raising expectations the government will have to implement more economic support measures to cushion the blow. The monthly falls left average home prices in 70 major Chinese cities down 1.3 percent in September from a year earlier, the first such drop since November 2012. New home prices fell month-on-month in a record 69 of the 70 major cities, up from 68 in August.
Errr....Rates were going lower anyway..
QE just helped rates go lower more quickly says Broadbent. On the surface, the BoE can't make it's blinking mind up. However, I would suggest the real reason is because the Fed sets the rates (that's right - NOT the market). It's an era of financial repression. Box in the sheep, grab their legs, cut their wool off...Simples!
London cooling off
According to Paragon more than 18% of households are currently paying rent to BTL parasites.
The have a right to oppose new development but not a responsibility to limit their own consumption
What about their mortgages?
National UK ponzi scheme needs another boost
Another classic Keiser episode with Mitch Feierstein
We discuss the horror, the horror of the apocalyptic scenes that central bankers have wrought upon the innocent and the deranged alike. This apocalyptic aftermath of meeting the Colonel Kurtz like central bankers is an economy in which the under-30s are left behind and the pauperization of workers through inflation. In the second half, Max interviews Mitch Feierstein of PlanetPonzi.com about how democracy has been vaporised in the UK and the result is the falling wages which have led to protests in the streets of London.