The west is right where Russia wants it - vulnerable to hyperinflation!
If Russia were to begin unloading US Dollars it would almost instantly lead to a collapse of not only our financial markets, but our entire way of life. And while Russia alone may not have the economic power to single-handedly crush the U.S. economy, if their trading partners and allies like China got into the mix, coupled with front-running investors who may suspect the move is about to happen, it could well be a blood bath on a global scale. In 2008 the Fed and the federal government spend every penny they could, anything they could create or anything they could guarantee. They did everything they could possibly do to keep the system from crashing. They guaranteed all bank accounts. So, they saved the system, but now what they did has not borne fruit. We have not seen a recovery!
No NIMBY's were burn in the making of this article.
More than 200 people [NIMBYS] have signed an online petition against the proposals, calling for them to be built on brownfield land instead. But South Yorkshire's chief fire officer James Courtney said the sites were chosen to provide the best possible response times. If approved the stations would be constructed by the middle of 2015. The new stations, off the A57 Sheffield Parkway next to Bowden Housestead Woodland and in the Moor Valley, would replace three existing stations - Darnall, Mansfield Road and Mosborough. "The old stations date back to the 50s and 60s and were provided for a risk that no longer exists because the risk has moved."
Don't worry Greece's banks need another 15 billion euro
Austerity may last until 2020 and chancellor may have to make further cuts to welfare, local government and police, claims FT. But don't worry, inflation and house prices are going UP! It makes me proud to know Dave is prepared to lend those poor Ukrainians lots of cheap cash.
Rents are rising below inflation, therefore the investment bubble is built on sand!
ONS: Index of Private Housing Rental Prices, September to December 2013 results and development update
In the 12 months to December 2013 private rental prices paid by tenants in Great Britain rose by 1.0%, down from a 1.1% increase in the 12 months to November 2013. In the 12 months to December 2013 private rental prices grew by 1.0% in England, 1.3% in Scotland and 1.2% in Wales. In the 12 months to December 2013 rental prices increased in all the English regions, with rental prices paid increasing the most in London (1.6%) and the South East (1.0%).
Jonathan hilights the wage deflation issue.
I have been saying for several years that the game changer would be soon and then, from 2008, I have been saying we are seeing the game changing. This is yet more evidence that whatever those above the age of 50 or so experienced for âeverâ from the 70s through to the 2000s is over and â ever so gradually â reversing. Whatever the baby boomers experienced is NOT what their kids are experiencing or will experience. I think this chart is so crucial to the potentially âmoving-into-a-depressionâ thesis.
Good summary of the current situation.
Though it looks good to some on paper, Britainâs housing bubble results from a housing oligopoly controlled by just a handful of massive firms of whom Barratt, Taylor Wimpey, Persimmon, Berkeley, Bellway, Redrow, Galliford Try, Bovis, Crest Nicholson are the biggest. With an oligopoly on place you can be sure buying a house bears no relation whatsoever to the cost of building one. The average three bedroom council house has two main ingredients in cost: materials, and labor. A rough estimate of the bricks, wood, tiles, plasterboard, windows, doors and other fittings that go into a house is 7,500 pounds and taking man hours of labor at 10 pounds an hour brings that up to a build cost of 15,000 pounds. Spread over the lifetime of a house of 200 years, this works out at 2 pounds a week.
The only way is up, baby for you and me now...Buy, Buy Buy!
While Canada may have bitten the hand that feeds it real-estate bubble, one of London's biggest real-estate investors says that even if sanctions were imposed against the Russian oligarchs, London property prices will continue to soar. The average London "flat" could fetch GBP36 million by the middle of the century, and is therefore a bargain now, Hugh Best advises clients. His reasoning is impecable, "the average price in prime central London is now Â£1.5m, and has been growing at 9% a year, which we think is firmly sustainable. They have been growing at that level for 40 years and we see no reason for that to change." With two-thirds of new homes in London sold to investors, they are all driving up prices and "the Russians are only a part of it... and the Ukrainians might come...
Monetary policy after the collapse of Osbrown
Article contains an interesting link to a paper with a history of UK monetary policy as practised by various administrations. So Douglas Carlswell the author that the recent policies of Osbourne and Brown are the same, and that they will shortly be clearly demonstrated to be total failures with a discussion of what may be next. Made me think that possibly Carney/Osbourne are already moving away the lever of interest rates and to (surprisingly) take Carney at his word he may indeed intent to use other measures to the blunt trauma of lifting borrowing costs. In which case state involvement with finance will inevitably increase further than the existing Funding for Lending/Help to Buy. Unfortunately this means that interest rates won't allow price discovery or resource allocatino.
FLS pumped 42 billion into UK housing - results in artificial house price increases
The speed UK property prices are rising at is âapproaching madnessâ, analysts have warned, after data showed house prices jumped 2.4pc in February, the biggest monthly increase in five years. The rise, revealed in the latest Halifax House Price Index, outstripped analystsâ expectations of a 0.7pc rise, renewing fears of a house price bubble. House prices advanced 7.9pc on an year-on-year basis, the figures showed, taking the average price across the UK to Â£179,872 and marking the strongest annual uplift since October 2007.