kilroy
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Posts posted by kilroy
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skyscraper index is well known, along with the hemline index and the columbian kidnap index
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And yet he still blames Keynes.
Keynes never argued for perpetual govt deficits, in fact he wanted the exact opposite.
You know that and I know that, but the keynesians don't know that
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No surprise.
http://british-news-portal.co.uk/big-donors-buying-policy/
Wealthy donors appear to be buying Government policy
Published January 7, 2012
Wealthy donors appear to be buying Government policy by securing “preferential” access to ministers and senior politicians, the standards watchdog has warned.
Sir Christopher Kelly said the perceived influence of rich businessmen over politicians is undermining public trust in Westminster. He cited the Coalition’s planning reforms as an example of a policy that raised suspicions after The Daily Telegraph disclosed that property developers were paying thousands of pounds for access to senior Tories.
Nothing changed has changed since the labour government (except for the bank accounts that the developers pay Into)
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I just added
"Added by kilroy on 2012-01-06 09:57:01
less affordable for benefit claimants leads to more affordable for hardworking families.
I love the way these "stories" imply that the landlords would rather knock down their house or leave it empty rather actually dropping rents (implication in the story is that the accomodation will be removed from supply). If landlords can't afford to drop the rent then they will have to sell up to someone who can afford to charge a cheaper rent (or better still, priced-out buyers).
Good to see that the housing market is moving slowly back towards the capitalist model of supply and demand, away from the current situation of government handouts for landlords, which effectively price out the local working population."
However, I expect it will be removed shortly
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Do they have a landing strip?
titter
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Damn You Deflation, Damn you to hell!
ps. thats a 'shocking' increase...
A monopoly owned by a government of a country with a tax evasion problem increasIng prices (effectively a tax rise by any oher name) is hardly a symptom of rip roaring inflation, especially in Greece where they can't actually print locally.
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I bet Flintoff's praying they'll decide to buy it.
Especially given he is offering on a house in surrey
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[quote name=Oh Well
' timestamp='1324490859' post='3214185]The feed in tariff is immoral.
Any of you who take advantage of it should be ashamed.
So, what value do you put on the internalised cost of carbon emissions?
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When the Germans embarked on their ill-fated printy printy in the 1920s the currency was called the Reichsmark. The Deutschmark appeared in 1948.
don't tell me, tell the taxi driver. He's the one what got it wrong
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Was in a cab on Friday....The driver stated to me..."I've heard a rumour the Germans have printed billions and billions of Deuschmarks".
There you go, you heard it here first ( well probably 5th, but if the taxi drivers know all about it then it must be true
)Only 90 years late.......
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And they wonder why we are fed up of the EU sticking their oar into everything.
It's up to us to achieve the CO2 cuts in any way we choose. If they criticise cutting the solar subsidy then do they also criticise the removal of additional tax on petrol and diesel in January, since that would also help cut CO2.
It shows complete ignorance that the subsidy was always capped. It was known this was the case from the start. Too many jonny fly by nights sprang up, with lots of them being rip-offs, and the market was just a grab for limited cash and long term job stability was never in their mind.
Plus the fact that solar pv panels are still dropping in price on a daily basis, the gov was right to target the IRR (and I am in the industry!)
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And they wonder why we are fed up of the EU sticking their oar into everything.
It's up to us to achieve the CO2 cuts in any way we choose. If they criticise cutting the solar subsidy then do they also criticise the removal of additional tax on petrol and diesel in January, since that would also help cut CO2.
Plus the fact that solar pv panels are still dropping in price on a daily basis, the gov was right to target the IRR (and I am in the industry!)
It shows complete ignorance that the subsidy was always capped. It was known this was the case from the start. Too many jonny fly by nights sprang up, with lots of them being rip-offs, and the market was just a grab for limited cash and long term job stability was never in their mind.
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I can understand why banks would be jumpy. A charge against a sale would no doubt have priority over the banks own loan. So with NegEquity an additional chunk of the actual sale would go back to the government. That's more losses for the bank, so it's in their interest to foreclose as soon as possible.
Or am I missing something?
Won't someone please think of the poor RMBS holders....
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Strip out the seasonal adjustments and this is a beast of a monthly fall:
£164311 to £160801 - more than 2%.
Isn't it normally a beast of a monthly fall this time of year?
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How come
Do bishop bashing
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Too late - look up the Royal Mail pension scheme.
EDIT: Oh and the plan to tap pension funds for infratsructure projects announced in the budget (this is where Ireland started too)
What is wrong with tapping the vast sums of cash that BTPS and the other large pension funds have? They have to invest the money somewhere, and inflation-linked assets are thin on the ground
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+1
The 'approval' of 'the markets' is apparently what matters these days. Strangely, on the BBC at least 'the markets' always seem to approve things that the government wants to push through that might possibly be unpopular with the public. "We had to do it, it's what the Markets wanted".
Gordon the fool made us beholden to the debt markets (our creditors), and we will be beholden until we no longer need debt
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Ban all financial instruments with the exception of shares and bonds. And no shorting.
I was also going to suggest that the trading of shares in banks and financial companies should also be banned, but that might be pointless and unnecessary if the first two suggestions were implemented...
What about the farmer who wants to hedge his wheat crop? What about importers and exporters who want to hedge fx risk (if you buy one currency you must short another)?
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Guys, guys, this ponzi is an effective transfer of wealth via assets which is akin to a leveraged buyout.
It's like how the glazers have pit down 200 mil to buy man united for 1 billion. They have loaded up the firm with debt and then inflation in prices will mean the club is bought for them by these ticket price increases.
The housing ponzi means the banks have helped balloon the asset price with hpi. They have loaned money to the sheep to finance this hpi.
There will be 25 years of income extraction where prices will remain in nominal terms but debts will be defeased by zero rates and inflation. Hence the sheep have bought their houses at the top in real terms but will own the assets when there value is 70pc less in real terms. The actual wealth and purchasing power will have been collected from them over that period.
Only wage inflation has the power to defease
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Wage-price spiral?! Nope. It's price inflation for us, not wage inflation. Which does put a lid on the price inflation. But while there remains a negative gap between wages and prices our economy MUST decline. Prices up 5%, wages up 2%, decline of 3%. And it's cumulative, 3% last year, 6% this year, 9% next year.
The injection of QE money is masking the effect at the moment.
In terms off food and fuel, there is nothing to keep a lid on that other than price controls on the food and fuel we export; if we can't afford the import price the goods will go to other countries that can
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Spot on.
I've been pleasantly surprised by the negative reaction.
It seems even home owning taxpayers don't like being on the hook for buying into this market.
More like home owning taxpayers realise that it won't help hem sell their overpriced tat taverns
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As I suggested on the main thread, it doesn't seem much different from firstbuy/homebuy (whatever its called), only this time the builder doesn't bear any of the risk. And 32,000 homes=16,000 jobs?? Temporary jobs then presumably. Net effect on prices = very little either way.
I read it differently. Anybody trying to move up the mythical ladder are screwed as most first time buyers will now be in the Market for new builds only. First time buyer demand for existing housing stock just went through the floor.....
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'Socgen Set For Property Lending Exit'
you could have been even more succinct.
Socgen?
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Fixed that for you. Higher rates would crush the economy, which is why it won't happen because, fair or not, it would be political suicide.
Also, as far as rates go, I would suggest the banks have never had it so good. Their margins on the loans they are making seem much bigger than back in the days they had to offer good deals and fight for competition. They just seem too risk averse to make any loans which tells you something about how panic-ed they are about previous loans they've made and the state of their balance sheets
You are joking right? Banks made the majority of their money by borrowing short term and lending long term, capturng the difference between these interest rates. Now that the curve is pretty flat there is no net interest margin to be made here. Add in the fact that their funding costs are sky high and you see there is not much room profit (especially after defaults have been reserved for).
Peacocks On The Brink Of Administration
in House prices and the economy
Posted · Edited by kilroy
I've got a great idea for a business; I'm going to borrow 100mln from a bank at 5% interest and stick it on deposit at 4% for ten years.. Excluding debt, I make a profit of 4mln per year which over 10 years is 40mln. I will then sell the business for 30mln (to facilitate a quick sale) to someone willing to ignore the liability side of the balance sheet