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Arthur Kinnell

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About Arthur Kinnell

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  1. Sharecast: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=4021390 Lloyds Banking Group plans to create a vehicle to manage thousands of homes that it could then sell or float. The bank, which is heavily exposed to the British residential sector, is thought to be at a fairly advanced stage of setting up a special-purpose vehicle, or "residential asset management platform," the Times reports. Oh good
  2. Glad you mentioned this, I tried to post it last night (I know how to celebrate new year's eve) but hasn't appeared yet: BBC lunchtime news: Sean (to Cardiff estate agent (the one you mention): what's the problem? Cardiff estate agent: vendors need to set a realistic price. BBC evening news - same scenario, but has been re-shot: Sean to Cardiff estate agent: what's the problem? Cardiff estate agent (now with unnatural Gordon Brown style leer): the banks are not lending enough money to buyers. I kid you not. The words are approximate but the meaning is exact. What's going on here?
  3. The last Conservative government shifted our economy from manufacturing and engineering to finance and services as a matter of political dogma. Lord Young as Trade Secretary said as much. It was a mistake. A financial institution's business can be wiped out at the stroke of a pen; manufacturing and engineering have an impetus much harder to stop. The painful process of weaning the economy off its dependence on financial services may be beginning, if our politicians have the courage, and the will, to see it through. So as far as I'm concerned the bankers can sod off and b up someone else's economy, if they're daft enough to let them. And be forbidden from taking their ill gotten gains with them. In fact, exile sounds like a good idea.
  4. His Lordship is the rule not the exception. Sometimes they are so arrogant and so smug they don't care who knows it, as long as the money keeps rolling in and we keep swallowing.
  5. Er, isn't the FSA being wound up and its duties transferred to the BoE? I thought that's why they suddenly found their balls. Or am I p'd?
  6. You've reminded me of something I heard on the BBC (so it must be true), between the time 'sub prime' was first mentioned here (explained then as a uniquely American phenomenon - we do things differently) and the credit crunch a few months later. The programme came from Manchester, where estate agents were reportedly selling new build flats 'off plan' and exaggerating the sold price to Land Registry in order to sustain prices. They got around any discrepancies by giving the buyer some kind of cash back refund. Critiques of the various surveys always quote the Land Registry figures as slow but dependable, and whenever I see that I think of the BBC report. Anybody else heard of this, or maybe recall the BBC report?
  7. Over 50's, huh? Seems a bit unambitious, what's wrong with the over thirties? The world will need repopulating, so the young will be obliged to stay at home and make babies. Something to pass the time and boost morale in the bunker during those long nuclear winter nights...
  8. I agree, well, it's obvious, isn't it? Isn't that what Roosevelt's New Deal was all about? Sentiment is the key, people have to believe they are being treated fairly, and right now that simply isn't the case.
  9. Hanging on in quiet desperation.. A lot of houses have been for sale for a year or more, while the sellers blame the estate agents for not marketing their property properly, or the buyers for failing to appreciate their Wendy house's true worth, or the banks for being, well, banks, ect ect. Now that it's in the Telegraph and therefore true, there is an opportunity to put them out of their misery by first enthusing like mad about their lovely home, then saying, trouble is, it's not worth more than two thirds of what you're asking, and next year will be even less. Then make them a silly offer. If enough people do it we'll all get through this nonsense a little quicker. By the way, having lived in both the north and the south, I find the behaviour of estate agents quite different - in the north you get to meet the seller, no estate agent in sight, whereas in the south the seller is hidden away while the estate agent shows you round. One thought I was eccentric (guilty as charged) because I insist on meeting the vendor and looking into their eyes before handing over my life savings. Any comments?
  10. I just got an email from ICICI Bank to say the new interest rate is 0.8% (was 1%, used to be loadsa percent). Channelnews Asia says Indian central bank rate has just been increased by half percent to 6% on concern over inflation which has recently fallen to 8.51% from 9.78%. I guess the exchange rate is the critical thing, so all you have to do is predict the Rupee/Pound exchange rate. Let us know how you get on.
  11. When you're hurtling down the motorway in the fog at 100 mph you can either take your foot off the gas, or you can reassure your passengers by saying, "it's OK, I seem to remember there's an uphill bit in a couple of miles..." What I'd like to know is, in case there are any really smart people out there and I'm missing something really obvious, why is it impossible to raise the interest rate just a bit? After all, they lowered it quickly enough, and could always do it again. Couldn't they?
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