Another classic Keiser episode with Mitch Feierstein

MaxKeiser: [KR669] Keiser Report – Apocalypse Now

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 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.

Posted by khards @ 08:08 PM 0 Comments

Naughty, Naughty here's a £10 fine

Telegraph: The £100,000 mortgage that cost £250,000 - equity release complaints rise

Those turning to equity release risk paying added interest and early repayment charges that can in some circumstances quadruple the value of the original loan and cost borrowers up to £200,000 extra. As a result the number of disputes between mortgage companies and borrowers has increased. Almost half of equity release borrowers do so to meet "everyday costs", according to the industry body, the Equity Release Council. Other causes include funding home improvements and helping grandchildren with a property deposit. One elderly customer had to pay £250,000 to clear a £100,000 mortgage taken out just eight years earlier after downsizing following her husband's death. What was worse, only half of the £100,000 borrowed had been spent.

Posted by khards @ 06:01 PM 0 Comments

Fetch the engines, fetch the engines. Fire fire, Fire Fire!

CNBC: Luxury London property prices fall 20%

The price of luxury homes in prime central London locations has fallen by over 20 percent, according to a national estate agent, signaling that a correction in the capital's booming housing market could be afoot. Properties in the £2 to £5 million price bracket saw prices fall 27.1 percent in the same period. Homes worth over £5 million performed slightly better but still saw a decline of 15.2 percent. As the U.K. heads into an election year in 2015, the uncertainty over the country's political future could deter buyers further.

Posted by khards @ 11:09 AM 7 Comments

London's burning, London's burning...

PropertyIndustryEye: London market showing further signs of falls as sales collapse 27%

The prime central London market is showing further signs of decline, says Strutt & Parker. Its data for the third quarter of 2014 shows that both prices and transactions have slipped year on year. The overall value of properties transacted by the firm is down 21.1%. Properties sub-£2m saw a decrease of 20.8% while £2m-£5m homes went down by 27.1%. £5m-plus homes performed slightly better, but still saw a decline of 15.2%. A similar pattern emerged in terms of volume sales, which were down 26.8% overall, with all price bands seeing a reduction in the number of transactions.

Posted by khards @ 11:01 AM 0 Comments

The cost of a [Tory] debt driven ''recovery''

Telegraph: George Osborne set to miss deficit targets as Government borrowing jumps

Year - Borrowing - Total PSND - Interest 2006/07 - 36.3 - 526.7 - 28.6 2007/08 - 40.3 - 558.2 - 31.2 2008/09 - 100.3 - 724.4 - 31.5 2009/10 - 153.0 - 956.4 - 31.6 2010/11 - 133.9 - 1,101.0 - 46.6 2011/12 - 112.5 - 1,190. 9 - 49.7 2012/13 - 119.4 - 1,299.1 - 48.9 2013/14 - 99.3 - 1,402.2 - 48.7

Posted by hpwatcher @ 09:54 AM 13 Comments

A dismal analysis for savers and renters

NotAyesManEconomics Blog: Why I think a Base Rate cut in the UK is as likely as a rise going forwards

I have previously posted some blogging by Shaun Richards at the "Mindful Money" site which he seems to have stopped using. Though no fan of house price pumping, he makes a case that we are stuck in a (Japanese?) economic rut and our central bank is turning against the interest rates they have warned of for some years. At one point, he quotes a speech by Andy Haldane at BoE that particularly struck me: "In the UK, real interest rates are now expected to remain negative for at least the next 40 years."

Posted by quiet guy @ 09:31 AM 1 Comments

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