Will a change in rules affect House Prices?
"The PM wants to restrict tax credits, child benefit, and access to social housing to migrants who have lived here for four years". Few pople outside of the Labour front bench will deny the impact of large scale immigration on House Prices. Changing the rules and putting in restrictions could make the UK a less attractive place for immigrants.
Must be true if it's the BBC :-)
The annual pace of house price growth has slowed for the third consecutive month, according to the UK's second biggest mortgage lender. Nationwide said house price inflation fell to 8.5%% in November on an annual basis, down from 9.0% in October. Prices rose by 0.3% in November from the month before, compared with an increase of 0.5% in October. The increase took the average price of a property up to Â£189,388, Nationwide said. "Housing market activity levels have remained relatively weak in recent months."
But the Scots were told OIL was their ace in the hole
"Opecâs likely decision not to cut quotas prompts slump in Brent crude price and calls for North Sea tax breaks to "save jobs"". Well, bite the bullet chaps, it's all in aid of helping our American masters to antagonise Russia. Look on the bright side - it gives us a bit more time to evaluate this fracking phenomenon before it messes up everyone's drinking water. When the water supply gets screwed, the benefits of a room with a good view of the Thames sharply diminish.
Let's see how far she gets with this one
Enforced land sales, land to benefit 'the many not the few', a more progressive land transaction tax to hit expensive properties, intervention where the scale of landownership or the conduct of the landlord are barriers to 'sustainable development', landownership and values to be 'more transparent' and owners to be 'more accountable', ending of business rates exemption for deerstalking and shooting estates and more land in community ownership. A landowners' group says âLarge landowners in Scotland have subsidised communities and the people who live in that land for a long, long time, If you remove them (landowners) from the equation, weâve got a real potential for land abandonment" Comment from Sutherland "Dukes/Lords without a trace of a Scottish accent own almost all the land here"
BOE rate rise scam
So, we have it. Oil prices heading towards $60 and it appears to be structural, with OPEC's control fo the market shattered. Deflation sets in with increased competition and rates must go negative, adjusting to the new reality, that productive capacity is exceeding demand now, and so rates must be negative to drive any investment. My prediction still stands. Soon as BOE are forced to admit that inflation will not reach 2% within the projection timescale, we are on the verge of that with the last inflation report, it will become lear that the next move for rates will be DOWN, initially to 0.25%, but deflationary headwinds in Europe will have them with negative rates already (due there in part to ineptitude multiplying global deflationary forces), and Britain will be forced to follow.
Avvin a spot of bovver are we?
"EU accused of financial mismanagement after auditors find huge black hole in the Brussels budget". "David Cameron will be legally obliged to make up a share of a shortfall of Â£259 billion by 2020 with liabilities for the Treasury estimated at Â£33.7bn, calculated at the usual rate of Britainâs EU contributions". No worries Camo, just give 'em a bit more austerity. Someone will find you a cushy well paid job when you leave - just like Tony Bliar. Sadly, this may confirm the government's intentions to devalue the currency after the election - in which case House Prices and PMs could rise. Plenty of ads for repossesed houses on the HPC screen - does someone know something?
Europe - No longer Fertile & Vibrant says the Pope
"European Commission President Jean-Claude Juncker has given details of a â¬315bn investment plan to kick-start Europe's economy. At the heart of his five-year agenda is a new â¬21bn fund, which would be used as seed money, to entice private backers to "pitch in" most of the rest. Only â¬8bn of the original money would come from the EU budget itself". Meanwhile, the details that have emerged in the so-called Luxleaks documents have put Mr Juncker in an uncomfortable position - but who cares, as long as the cronies get their cash and the proles get more austerity - so what? If anyone complains, give them a free Kim Kardashian app....
Firing those loose cannons
Firing (terminating) loose cannons is one way of keeping wealth flowing upwards and workers in their place. Eliot Spitzer, then governor of NY, wrote an editorial exposing the collusion between the Treasury, the Fed and Wall Street in deregulating the banks (in the guise of regulating them). A month later he was 'fired' for a sex thing. Dominic Strauss-Khan, the IMF CEO, gave a speech opposing austerity - 'market discipline', 'fiscal consolidation' and 'labour flexibility' - and advocating full employment, wealth sharing, public investment, collective bargaining and taxing financial activities as means of achieving economic stability and prosperity. A month later he was 'fired' for a sex thing. As the Americans say, 'go figure'.
The Recovery - Latest
"Economists raise concerns about rebalancing as growth figures show UK expansion powered by higher consumer and government spending, while business investment contracts" ."The UK economy grew by 0.7pc between July and September, following growth of 0.9pc in the second quarter, the Office for National Statistics (ONS) confirmed".
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?