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Matt Bear

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Everything posted by Matt Bear

  1. I reckon this will only make things worse - especially in London and south east. Everyone will be wanting to get in in the first year fearful of missing the boat.
  2. Have to agree. And it is the MPC's view of inflation 18-24 months ahead which never seems to bear any relation to reality. And the BBC headlining this as Rates Held Until Unemployment Falls - it's nothing of the sort.
  3. I hope the Cypriot politicians have got the balls. Can't understand why Cyprus would want to follow in Greece's footsteps. Surely it makes sense for tourist destinations to have their own currency. OK imported goods are going to be pricey but a good exchange rate would encourage tourists. Most folks round here go to Turkey for their summer holiday these days - Eurozone countries are too expensive.
  4. I thought this was old news. From our local rag 8/12 "GWENT's new police and crime commissioner wants to appoint a retired police officer he has known for 30 years as his deputy."
  5. I can see Cyprus adopting a Rouble backed currency.
  6. Given the choice I would have thought the average Cypriot would choose to do an Iceland over the current proposals. And that is what should be happening - overstretched banks should be defaulting. But we seem to have some bizarre solution where savers are being punished anyway when the problem is that there aren't enough savers and there's too many borrowers. The savers seem to be being punished for choosing the wrong bank - but what choice do most Cypriots have? The deposit guarantee is supposed to exist so that savers don't have to worry whether they have chosen the wrong bank and/or have t
  7. I don't see how the Cypriot banks can avoid a run and they can't therefore re-open until there's come sort of controls in place to restrict withdrawals. I think that then will be a catalyst for bank runs elsewhere in the PIIGS.
  8. ISA interest rates down across the board. NS&I 2.5 - 2.25% Sainsbury's bank 2.8 - 2% (was looking at this last week). etc. http://www.moneyobserver.com/news/12-11-05/top-savings-rates
  9. Cameron's argument for dismissing this is laughable though. He makes out that this policy would affect hard working families. I mean who has a £2 million mortgage?
  10. "Ed Balls calls for stamp duty break" - idiot. http://www.bbc.co.uk/news/uk-politics-19779395
  11. The "line rental" bit pisses me off whoever it's being paid too. Headline rate from Sky on Uswitch is £5 per month but as soon as you click through it's + £14.50 line rental a month. Seriously considering ditching the fixed line altogether and usin mobile broadband.
  12. The flats look they were built right over the top of the end of the culvert, and it wouldn't surprise if that has caused the culvert to collapse. I'm also surprised there was apparently no retaining wall to stop the infill washing away in the first place. Lot of blame shifting to come between builders, Duke of Northumberland Estate (apparent landowner) and Newcastle council. Can't see these flats ever being insurable even if they can make them habitable. It is some sort of testament to the builders though that they are standing at all.
  13. Culvert collapse. It seems the council were aware in June when it flooded (and possibly in May when a mystery hole appeared). http://www.chroniclelive.co.uk/communities/newburn-and-walbottle/2012/06/13/newcastle-residents-evacuated-in-flood-scare-video-72703-31173451/
  14. The Ordnance Survey map shows it adjacent to Walbottle Brickworks Nature Reserve and steep embankments. Looks to me like the area would have been quarried at least for clay extraction.
  15. It is not the owning that potentially makes people happier but the security of tenure. It's time the government did something about it. I believe it is something the Welsh assembly are considering.
  16. Seems odd that they should collapse on the first day of the school summer holidays!
  17. It seems to me that the banks ought to be forced to value property assets based on mark to model valuation based on the long term trend price. If the assets were above the long term trend then lending against them would erode the bank's capital base which would start to restrict lending capability. Some mechanism would probably have to be found that prevented the banks from turning property assets into some other form of asset or from off-balance sheeting them.
  18. Cable to be business secretary. Laws to be chief sec to the treasury.
  19. Looks like the Lib-Dems plans to reform Air Passanger Duty will be brought in so that the duty is levied per plane rather than per passenger. Should make the budget airlines happy.
  20. Cable to be given position with special responsibility for business and banks. Possibly business secretary. edit: but not ruled out that he may still be chief sec to the treasury. edit: via twitter http://twitter.com/BBCLauraK
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