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The Masked Tulip

Newsnight Now

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Will Hutton reckons that a Greek default will cause a run on banks in Ireland, Portugal and perhaps Spain. UK will be very bady hit. Hyperinflation in Greece.

Steph Flanders looks hot in tight skirt and boots - shame that she went with the two Eds.

Edited by The Masked Tulip

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In what way will the UK be badly hit? Drop in exports? Floods of immigrants? Shortages of couscous and humous?

BTW Will Hutton in a tight skirt & boots has a better chance of looking attractive than S Flanders (retches quietly).

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I thought Hutton was going to have a heart attack at one point.

Monday night sounds more interesting. Goldman Sachs and how it help Greece circumvent the economic rules to enter EU

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I thought Hutton was going to have a heart attack at one point.

Monday night sounds more interesting. Goldman Sachs and how it help Greece circumvent the economic rules to enter EU

Agree Hutton was apoplectic and mentioned "domino effect of bank collapses and one of the worst affected would be us".

It must have been only 4 hours ago that I was driving home and listening to an expert on the radio "surprisingly good retail sales proving no 2nd recession and we are on the up".

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In what way will the UK be badly hit? Drop in exports? Floods of immigrants? Shortages of couscous and humous?

Alas, when he started about the UK Flanders interrupted him and turned the conversation back to Greece. :rolleyes:

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In what way will the UK be badly hit? Drop in exports? Floods of immigrants? Shortages of couscous and humous?

BTW Will Hutton in a tight skirt & boots has a better chance of looking attractive than S Flanders (retches quietly).

All you need to know, is that Greece is essentially this...

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Agree Hutton was apoplectic and mentioned "domino effect of bank collapses and one of the worst affected would be us".

It must have been only 4 hours ago that I was driving home and listening to an expert on the radio "surprisingly good retail sales proving no 2nd recession and we are on the up".

Yes i listened to that retail sales up ,and also that consumer confidence is up following a fall in inflation,recovery locked in . 3 hours later it is record diesel prices just hit and this will impact on almost everything and stoke inflation (seems like Merves temporary inflationary high oil prices ,which he said have now receded are coming back) ,cant see that restoring consumer confidence for long. Then we get newsnight.

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In what way will the UK be badly hit? Drop in exports? Floods of immigrants? Shortages of couscous and humous?

BTW Will Hutton in a tight skirt & boots has a better chance of looking attractive than S Flanders (retches quietly).

A Credit-default swap trigger.

Agree Hutton was apoplectic and mentioned "domino effect of bank collapses and one of the worst affected would be us".

It must have been only 4 hours ago that I was driving home and listening to an expert on the radio "surprisingly good retail sales proving no 2nd recession and we are on the up".

Any excuse to give the service economy its dose of opium.

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Agree Hutton was apoplectic and mentioned "domino effect of bank collapses and one of the worst affected would be us".

The one and only good thing that Gordon Brown did was nothing i.e. to keep us out of the euro. Blair would have had us in, as would the Lib Dems.

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Most of the papers are running stories about stock markets rallying ahead of a Greek bail-out on Monday, and Newsnight run an end of the global economy programme.

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Agree Hutton was apoplectic and mentioned "domino effect of bank collapses and one of the worst affected would be us".

It must have been only 4 hours ago that I was driving home and listening to an expert on the radio "surprisingly good retail sales proving no 2nd recession and we are on the up".

Probably worrying about his family property portfolio .

Edited by stormymonday_2011

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The one and only good thing that Gordon Brown did was nothing i.e. to keep us out of the euro. Blair would have had us in, as would the Lib Dems.

Setting up the Debt Management Office was another. They've done a sterling job (pun intended) of managing the nation's debt and pushing out the average maturity to almost 15 years. It's one of the main reasons why UK interest rates can be kept low and a financing crisis avoided.

I do find it amusing that their office is in Philpot Lane.

montage_colour.jpg

Edited by CrashConnoisseur

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I thought Hutton was going to have a heart attack at one point.

Monday night sounds more interesting. Goldman Sachs and how it help Greece circumvent the economic rules to enter EU

True, and the only just way out is to transfer the entire Greek debt to Goldman Sachs. Make them repay it for their fraud.

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Hmm. This would be the same Goldman Sachs who now have their man at the top of Greek Government? They play a very long game indeed.

Also see Italy...madness! :angry:

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From wikipedia "Hutton married in 1978 and lives near Woodstock in Oxfordshire. He has a son and two daughters. His wife, Jane Atkinson, is a director of a property development company called First Premise based in Richmond upon Thames, which she founded in 1987."

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I watched the programme and found Paul Mason's report useful and informative.

However how is Will Hutton considered an authority on Greece? He has been one of the cheerleaders for the Euro and has been proved completely wrong! Yet he appears and his views are given credence by the BBC inspite of the fact that nobody can recall him getting anything right. As for his talk of the UK economy collapsing and dire warnings wouldnt it be even worse if we were in the Euro as he was suggesting again only 3 weeks ago?

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I watched the programme and found Paul Mason's report useful and informative.

However how is Will Hutton considered an authority on Greece? He has been one of the cheerleaders for the Euro and has been proved completely wrong! Yet he appears and his views are given credence by the BBC inspite of the fact that nobody can recall him getting anything right. As for his talk of the UK economy collapsing and dire warnings wouldnt it be even worse if we were in the Euro as he was suggesting again only 3 weeks ago?

I just think the BBC management likes to help out a fellow BTL'er. ;)

Also I guess Newsnight still originates from London. I doubt Hutton and the Lord Lamonts of this world are going to venture up the M6 on a cold Friday night, like the poor souls that do the review show from Glasgow afterwards (of all places).

Edited by "Steed"

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The one and only good thing that Gordon Brown did was nothing i.e. to keep us out of the euro. Blair would have had us in, as would the Lib Dems.

If we had joined the Euro we would have had an epic HPC already.

Be careful what you didnt wish for. Or something.........

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Will Hutton reckons that a Greek default will cause a run on banks in Ireland, Portugal and perhaps Spain. UK will be very bady hit. Hyperinflation in Greece.

Steph Flanders looks hot in tight skirt and boots - shame that she went with the two Eds.

Did he say hyperinflation in Greece when it leaves the Euro?

I can't see how you could get hyperinflation in Greece alone without it leaving the Euro.

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From wikipedia "Hutton married in 1978 and lives near Woodstock in Oxfordshire. He has a son and two daughters. His wife, Jane Atkinson, is a director of a property development company called First Premise based in Richmond upon Thames, which she founded in 1987."

Now that is interesting.

I found this old article from 2004 in connection with this..A long article, but interesting, here are some extracts, full report at link.

Do you reckon this business in Mr Hutton's wife's name could be about to lose some money in view of the change to HB allowances? (might be one reason he looks so stressed recently?)

http://www.telegraph.co.uk/news/uknews/1459551/Will-Hutton-is-the-Left-wing-commentator-famed-for-his-attacks-on-Britains-landlord-culture-...-yet-his-familys-housing-empire-is-a-monument-to-the-profit-motive.html

Will Hutton is the Left-wing commentator famed for his attacks on Britain's landlord culture ... yet his family's housing empire is a monument to the profit motive

...Mr Hutton has been particularly scornful of what he believes is an unhealthy and socially divisive obsession with owner occupation. Property developers, people who buy to let, and middle-class families in gated communities have all felt the brunt of his indignant socialism....

..In an Observer article in 2002, he criticised "prohibitively high" rents in the private sector and attacked the emergence of a new class of mainly middle-class people who were buying to let.

In February last year, he wrote: "There is too little affordable housing."

...In the light of such pronouncements, many will be surprised to learn that in addition to his Oxfordshire property, Mr Hutton owns a second home, a four-bedroom semi in Muswell Hill in north London. Estate agents offer similar properties for up to £1 million.

His Oxfordshire retreat, inherited from an aunt in the mid-1990s, is centred around a former barn that has been converted into a six-bedroom house. Neighbours estimate that the addition of a swimming pool and tennis courts has increased its value to at least £1 million.

Residents said last week that the Huttons had sold off parts of their inheritance over the years and had also rented out holiday cottages. "I know they used to do that quite often," said one. "I am not sure if that is still going on."

An investigation by The Telegraph has discovered that these holdings are only part of a Hutton family property portfolio that includes dozens of other residential and commercial units in London.

Mr Hutton's wife Jane - who uses her maiden name of Atkinson in her business dealings - runs First Premise Limited, a development company that has specialised in letting and selling of properties, many in inner-city areas of London.

Much of the criticism Mr Hutton makes against other property developers could also be levelled against his wife's firm, in which she is a 25 per cent shareholder. First Premise has repossessed properties from commercial tenants and lobbied council officials into relaxing building standards on accommodation, and charges rents substantially higher than in the affordable social-market of which her husband so approves.

His attacks on "prohibitive rents" seem to have been ignored by First Premise. ...

....it is difficult to understand why First Premise, which has been in business since 1986, thinks it can charge almost double the local average.

...Ms Atkinson yesterday defended the rent. "The terms of our financing means we have to charge market rents....

...First Premise owns and manages 50 shops, flats and live/work units on Deptford High Street. The live/work units, which come with the barest of essentials such as a galley kitchen and separate shower and bathroom, are let for £800 a month.

..The company has also made considerable profits from the redevelopment and sale of rundown inner-city areas. According to Jim, the company allegedly made a profit of several million pounds two years ago on the sale of a stretch of the Old Kent Road to a local housing association.

....Southwark wanted maisonettes and family accommodation; Ms Atkinson and First Premise wanted more profitable one-bedroom flats. Moreover, the design and construction caused concern. Council documents reveal that environmental health officers were upset about "inadequate size bathrooms and insufficient space for food preparation".

Some of the flats fell short of the council's guidelines on living space - often by as much as 10 square yards. Officers rejected one of the conversions after ruling that it "fell far short of acceptable standards for new accommodation".

In the face of Ms Atkinson's repeated warnings, however, the council reluctantly agreed to a "relaxation of standards"

...London and Quadrant, a housing association that bought 24 of the Old Kent Road one-bedroom flats and live/work units from First Premise for an undisclosed sum in 1999, last night insisted that the properties met all planning and building regulations.

One official, who asked not to be named, said: "They are small. The photographer we sent round to help market them had a devil of a job trying to make them look bigger."

..As for Mr Hutton, he remains busy with his work on behalf of the poor and dispossessed.

Last month he appeared in a BBC drama-documentary about poverty. The villain was a fictitious property developer, who lived in a rural retreat with a swimming pool...

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Most of the papers are running stories about stock markets rallying ahead of a Greek bail-out on Monday, and Newsnight run an end of the global economy programme.

The truth would be in between! No apocalypse - just a very nasty blip, probably shaking some markets to the core for a while. Then real growth might resume ....well, in some countries without policies entirely focussed on holding up distorted property speculated prices.

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