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About ChiefCashier

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  1. No, it isn't. The average (mean) full-time annual salary for residents of Salford local authority area is £26,339. The median is £22,639. Both of these figures are substantially below the UK figures (mean £32,659, median £26,093). Data source: ONS Annual Survey of Hours and Earnings 2011 (published March 2012), table 8 - place of Residence by Local Authority.
  2. Gillian Tett is world-famous for her work as a Financial Times journalist. She was introduced in the Newsnight discussion as "The FT's Gillian Tett". She was captioned as "Gillian Tett, US managing editor, Financial Times" (2:03 into the video). She spent the entire discussion sitting next to a salmon-pink board emblazoned with the letters "FT". Notwithstanding this, billybong refers to her as the "BBC's Gillian Tett" and as "one of the BBC females". This, gentlemen, is what we are up against.
  3. Financial engineering - another UK manufacturing success story! I'll get my coat...
  4. Exactly. As long as this is not a case of socialised costs and privatised gains, then this is to be welcomed wholeheartedly. Far preferable to the pernicious 'help for FTBs' on offer elsewhere.
  5. In addition to pensioners, the employed and the unemployed, there's another category to take into consideration - the working-age economically inactive (out of work and not actively jobseeking). The figures helpfully show that there are: - 1,323,800 HB recipients on Income Support (workless lone parents with young children, Incapacity Benefit claimants with Income Support top-up, and no doubt some carers in there as well); - 220,180 HB recipients who also get income-related Employment and Support Allowance. All of these groups would typically be classified as economically inactive.
  6. Completely wrong on HB recipients in work. Of the 4,869,040 Housing Benefit recipients in March 2011: - 776,200 were in employment (16%). You're closer to the mark regarding pensioners: - 1,276,590 HB recipients were aged 65 and over (26%) - 1,096,520 HB recipients are also in receipt of Pension Credit Guarantee Credit (22.5%) http://statistics.dwp.gov.uk/asd/index.php?page=hbctb
  7. I hereby award this post the 2009 HPC longest sentence without a full stop prize. Never mind the length, feel the quality.* * This is not one of my chat-up lines, I hasten to add.
  8. Is this a euphemism for debt that the borrower is unable to pay back from wages? I recognise that 'wages' are becoming an increasingly old-fashioned concept for many. It is necessary to look elsewhere for the fuel that will propel the market upward.
  9. For further elucidation, inquiring minds are turning towards the chapter on quantitative easing in the Bank of England Quarterly Bulletin, Q2 2009: "Other illiquid assets"... I wonder what they could be referring to?
  10. She neglected to mention another evidence of 'normal service resuming' which promises to pose a second 'significant test' for the 'recovery': http://www.timesonline.co.uk/tol/money/pro...icle6445365.ece http://www.telegraph.co.uk/finance/persona...-to-follow.html http://www.timesonline.co.uk/tol/money/pro...icle6485650.ece Edit: missed a link.
  11. This is a great idea! Even more radical and brilliant than the concept of negative nominal interest rates, as explored recently by another leading economic theorist: [article one] [article two]. Monetary authorities now have a formidable arsenal of tools they can use to extirpate the cancer of savings from our economy, and return the economy to its previous robust health!
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