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China Gdp Concerns: R5 Live This Morning

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I was up unusually early this morning and was listening to a HSBC analyst discussing China's "disappointing" 7.7% growth rate. She was saying that their future growth is very much linked to the housing market, which she described as China's most important industry. The meme of wealth derived from house price inflation seems to be truly global. So in China the future is all about domestic retail spending (up 12.5%) driven by money borrowed against increased housing equity. They are also concerned about affordability and as well as building 35 million government funded low cost dwellings they are looking at equivalents of "Help-Buy" to get young poor people started on "the housing ladder". What a depressing start to the week.

When that market crashes we are really in trouble. I hope I can get my fixed term bonds out of HSBC before that happens.

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. She was saying that their future growth is very much linked to the housing market, which she described as China's most important industry.

Same old, same old. The difference with, say, Britain, is that if their bubble pops, they have tons of gold to rebuild their economy form scratch, while all our gold was infamously undersold by a certain one-eyed Scottish moron.

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Same old, same old. The difference with, say, Britain, is that if their bubble pops, they have tons of gold to rebuild their economy form scratch, while all our gold was infamously undersold by a certain one-eyed Scottish moron.

Ive recently started reading Brown sycophants on the left saying that Brown was no worse than Howe because Howe should have sold our gold in the early 80s bubble, thus he has cost us as much as Brown by not selling!

I think they miss the point. It wasnt primarily the act of selling the gold at the bottom that people find astounding - generally speaking politicians always manage to choose the worst timing - no, it was the selling it despite all the warnings from his own cabinet and the BoE, and on top of that telling the market what volume and when he was going to sell that truly marks Gordon as a moron of epic proportions.

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I was up unusually early this morning and was listening to a HSBC analyst discussing China's "disappointing" 7.7% growth rate. She was saying that their future growth is very much linked to the housing market, which she described as China's most important industry. The meme of wealth derived from house price inflation seems to be truly global. So in China the future is all about domestic retail spending (up 12.5%) driven by money borrowed against increased housing equity. They are also concerned about affordability and as well as building 35 million government funded low cost dwellings they are looking at equivalents of "Help-Buy" to get young poor people started on "the housing ladder". What a depressing start to the week.

When that market crashes we are really in trouble. I hope I can get my fixed term bonds out of HSBC before that happens.

Desperate spin and smiles now on the business news, sea of red in the background, markets no likey?

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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