asterisk2a + creditcard   29

(10204) Are We Destined for a Slow Growth Future? - YouTube
- shortage on the demand side. but demand can't be more leveraged and borrowed. ALL economic indicators point against a thriving of the UK bottom up (from household finances, are stretched thinly) //&! Gross wages lower than 10 years ago! Lost decade of earnings. In real terms people are NOT better off.
https://www.youtube.com/watch?v=0anqgXLvwko
secular  stagnation  Brexit  household  debt  consumer  UK  USA  loan  GFC  recovery  Productivity  output  gap  economic  history  leverage  underinvestment  banking  property  bubble  housing  demographic  immigration  working  poor  poverty  Austerity  Trickle-down  Gesellschaft  DonaldTrump  Donald  Trump  inequality  social  mobility  income  Society  inflation  deflation  deflationary  debtoverhang  debt-servicing  OECD  IMF  ZIRP  NIRP  QE  BOE  Fed  globalisation  globalization  trap  credit  card  creditcard  creditcrunch  student  auto 
july 2018 by asterisk2a
UK pay squeeze breaks all sorts of records for all the wrong reasons | Larry Elliott | Business | The Guardian
As John Philpott, who runs the Jobs Economist consultancy, noted: “What’s remarkable is that pay growth, however measured, is so weak at a time when employment is at joint record rate of 74.8% and unemployment at a 42-year low of 4.6%, driven almost entirely in the latest quarter by relatively strong growth in full-time jobs for employees on permanent contracts. Hard times and near full employment make strange bedfellows, highlighting the extent to which a deregulated labour market with an abundance of workers available to fill low wage vacancies has altered the UK jobs landscape.”
UK  Brexit  GE2017  Austerity  wage  income  growth  inflation  living  standard  disposable  discretionary  spending  creditcard  credit  card  household  debt  personal  loan  secular  stagnation  GFC  recovery  bank  bailout  inequality  poverty  trap  tax  evasion  avoidance  taxation  capital  investment  economic  history 
june 2017 by asterisk2a
Yes this really is the end of Tory austerity – because it was never about economics in the first place | The Independent
[private sector will pick up the tap - the households did, but not corporations! bc long-term ROI growth in not attractive in the west w secular stagnation! see Richard Koo ] But it was a very long time coming. It became clear within a year of George Osborne’s 2010 “emergency budget”, which forced through huge cuts in capital budgets and an intense squeeze on Whitehall departments and welfare spending, that the austerity medicine was hurting, not helping.

The economy was flatlining, teetering on the verge of recession. Whether this was primarily due to the crisis in the neighbouring eurozone and a spike in global oil prices or because the negative knock-on impact of the government’s domestic spending cuts was bigger than initially thought is still debated by economists.
Austerity  Brexit  GE2017  Confidence  Fairy  GFC  bank  bailout  welfare  state  living  standard  deficit  debt  government  household  personal  loan  credit  card  creditcard  underinvestment  inequality  economic  history  social  mobility  income  growth  wage  disposable  discretionary  spending  gini  coefficient  tax  evasion  avoidance  taxation  corporate  taxcut  capital  labour  Productivity  output  gap  recovery  secular  stagnation  infrastructure  investment  Privatisation  Theresa  May  George  Osborne  David  Cameron  Ideology  neoliberal  neoliberalism  ZIRP  NIRP  QE  bond  bubble  asset  reflation  housing  distortion  malinvestment  stimulus  Tories  nasty  party  Conservative  RichardKoo  Koo  Richard 
june 2017 by asterisk2a
First fall in consumer spending for almost 4 years
Consumer spending has fallen on an annual basis for the first time in almost four years [...] Adjusting for inflation, real consumer spending by British consumers on Visa debit, credit and prepaid cards in May was 0.8 per cent lower than in the same month last year. Visa said that seasonally adjusted spending was 1.8 per cent lower in May compared to April. The figures are unofficial, but suggest that sluggish economic growth continued in the second quarter, after a first quarter in which the UK grew at the slowest rate in the G7. [...] household consumption, which accounts for more than 60 per cent of the economy. [ 80 Services and Consumption 20 manufacturing ] /&! http://www.telegraph.co.uk/business/2017/06/11/new-economic-woes-put-theresa-may-fresh-pressure/ - The crucial services sector stands on the brink of a contraction
UK  Brexit  GE2017  Consumer  Confidence  creditcard  credit  card  discretionary  spending  disposable  income  inflation  living  standard  wage  growth  recession  Economy  2017  secular  stagnation  deflation  deflationary  BOE  ZIRP  QE  NIRP  Austerity  Services  materialism  Shopping  Consumerism  consumerist  household  debt  mortgage  Manufacturing 
june 2017 by asterisk2a
Car finance deals soar to new record - BBC News
The Bank of England and the Financial Conduct Authority (FCA) have raised concerns about such deals.
The Bank's worry is in relation to levels of consumer borrowing.
However Adrian Dally, head of motor finance at the FLA, said lenders were behaving responsibly.
"We do not share their concerns," he told the BBC. "Lending is responsible. This is a sustainable model going forwards." [...] That is largely because motorists can hand their cars back if they can no longer afford payments.
Ultimately it is the car manufacturers who carry the risk on such deals, as they guarantee second-hand values.
UK  consumer  debt  household  borrowing  creditcard  discretionary  spending  disposable  income  Brexit  confidence  credit  card  auto  loan  car  lease  protection  BOE  wage  growth  inflation  economy  FCA  squeezed  middle  class  working  poor  Precariat  bubble  automotive  industry  insolvency 
may 2017 by asterisk2a
(200) Noam Chomsky - What We Really Want - YouTube
dignity and self-worth, independence. // primitive wage labour is slavery. // informed consumers making rational choices ... credit cards is the inverse! //
UBI  Grundeinkommen  Consumerism  Materialism  Alain  de  Botton  Chomsky  consumer  consumerist  Retail  Therapy  coping  mechanism  Selbstdarstellung  Selbstfürsorge  Capitalism  Capital  Advertising  TV  creativity  Universal  Basic  Income  creditcard  credit  card  Brand  Status  Anxiety  Social  Media  life  lesson  Minimalism 
april 2017 by asterisk2a
What Next tells us about shopkeepers' woes - BBC News
more online shopping, less high street (high street had to be profitably managed down). More spending on experience.
Brexit  inflation  High  Street  Amazon  on-demand  Mainstreet  HighStreet  discretionary  spending  disposable  income  wage  growth  household  debt  consumer  credit  card  creditcard  UK  private  borrowing 
march 2017 by asterisk2a
Here's Why A Slowdown In Earnings For The Top 1% Is A Problem For The UK - BuzzFeed News
“Fifteen years without a pay rise,” IFS director Paul Johnson said. “I’m rather lost for superlatives. This is completely unprecedented.” [...] If the top earners make less, the government brings in less tax revenue; it’s as simple as that. And with Brexit looming, the exchequer needs to raise all the funds it can.
UK  Budget  wage  growth  Austerity  living  standard  income  social  mobility  productivity  output  gap  Philip  Hammond  Theresa  May  George  Osborne  secular  stagnation  inflation  discretionary  disposable  credit  card  creditcard  household  debt  Consumer  Consumerism  consumerist  materialism  Brexit  London  1%  10%  NIC  welfare  state  underinvestment  gini  Coefficient  Tories  nasty  party  Conservative 
march 2017 by asterisk2a
Budget 2017: Asset sales to thank for UK's figures? - BBC News
'we are not paying our way in the world' -- highlight the cheat the Tories are. 1 sale of national assets to lower debt. still horrible trade balance deficit now w even weaker pound. And not mentioned the recovery supported greatly by household debt bubble and mortgage party. GDP per capita, wage growth v inflation, living standard, current account deficit, underinvestment/austerity in edu and health (see imf paper), ... UK becoming a basket case.
Budget  Tories  Conservative  PFI  Assets  George  Osborne  Theresa  May  Manufacturing  underinvestment  Philip  Hammond  London  Services  nasty  party  ZIRP  NIRP  QE  household  debt  consumer  credit  card  creditcard  mortgage  housing  bubble  Productivity  output  gap  skills  STEM  education  policy  Austerity  current  account  deficit  GFC  bank  bailout  GDP  per  capita  IMF  technological  unemployment  David  Cameron  social  mobility  income  wage  growth  downward  gini  Coefficient  child  poverty 
march 2017 by asterisk2a
Rethink rates now or face retail disaster, shops tell chancellor | Business | The Guardian
https://www.theguardian.com/business/2017/mar/07/food-inflation-doubles-uk-shoppers-feel-pinch [ are there sensible consumers out there, and wait out the next 2 years?!!! reality of Brexit should be by now, has to be digested by consumer, as always the lag indicator of most. FDI and business investement is first, and was first to scale back! ] A report from the British Retail Consortium and KPMG found that the spurt in consumer spending seen in the run-up to Christmas had come to an abrupt halt, with the result that non-food sales are falling for the first time since the economy was flirting with a double-dip recession in November 2011.

Further evidence that consumers are becoming more cautious was provided by the the Society of Motor Manufacturers and Traders, which released figures on Monday showing a drop of more than 4% in private car sales last month.
inflation  Brexit  household  debt  Consumerism  Consumer  credit  card  creditcard  private  discretionary  spending  disposable  income  uncertainty  UK  underinvestment  Austerity  Tories  nasty  party  Conservative  BOE  Mark  Carney  Theresa  May  Philip  Hammond 
march 2017 by asterisk2a
Oh for the 1960s! People earned less but could afford more | Money | The Guardian
[ fetish of GDP ] Economic growth since the 1960s has been real, but the link between growth and personal prosperity has broken down, probably since the 1990s. We can carry on pushing for increases in GDP, but it’s meaningless unless it translates into a recovery in living standards. If any government really wants to help the left-behinds, then cutting house prices and rents must be their first priority.
GDP  wage  growth  income  distribution  economic  history  profit  maximisation  capitalism  crony  oligopoly  monopoly  Platform  Self-Employment  Productivity  squeezed  middle  class  working  poor  globalisation  Competition  liberal  reform  competitiveness  disposable  discretionary  spending  investment  creditcard  credit  GFC  recovery  Austerity  secular  stagnation  taxation  1%  Super  Rich  Plutocracy  10%  20%  bank  bailout  Privatisation  outsourcing  offshore  banking  tax  evasion  avoidance  child 
december 2016 by asterisk2a
Bank of England: Bitcoin is "Harder Money" than Gold Due to Deflation – Bitcoin Magazine
During a presentation on digital currencies entitled “Old Money, New Money,” Andy Haldane, Chief Economist & the Executive Director of Monetary Analysis and Statistics of the Bank of England and his team stated that “Digital currencies are ‘harder money’ than a gold standard” because “sustained adoption [of bitcoin] would see ongoing deflation.” [...] 2 million UK adults do not have bank accounts and 2.5 billion people in the world have no access to financial services, said Haldane. However, given the estimate that 80% of the world’s population will own a smartphone within 5 years, Haldane believes that many could turn toward digital currency to store their savings. // &! bit.ly/1U0UYMM - Enabling New Internet Applications (no transaction minimum, no transaction fee) // &! W3C toEstablish Online Payment Standards - bit.ly/1Nye7py - Internet pioneers such as Ted Nelson, Marc Andreessen & Berners-Lee himself thought that the Internet should have a built-in framework for micropayments.
Bitcoin  deflationary  deflation  fiat  currency  fiat  money  monetary  policy  Gold  Standard  economic  history  FinTech  underbanked  emerging  market  Developing  World  W3C  micropayment  micropayments  payment  payment-system  payments  PayPal  Braintree  Stripe  Amazon  Google  Google  Wallet  creditcard  oligopoly  oligopol  banking  crisis  banking  fractional  reserve  banking  financial  market  barriers  to  entry  cost  of  entry 
august 2015 by asterisk2a
A society without cash is a society in trouble - Telegraph
[not taking cash out of your purse, different than sliding a plastic card through.] A society without cash is a society in trouble The trouble with contactless payments is they make it all too easy to forget the true value of things, worries Bryony Gordon
credit  card  behavioral  finance  behavioral  economics  psychology  instant  gratification  loss  loss  aversion  sunk  cost  fallacy  deferred  gratification  credit  bubble  creditcrisis  creditcard  consumer  debt  zombie  consumer 
february 2015 by asterisk2a
Sure Stripe has more cash, but does it have a path to exit? | PandoDaily
The problem with raising capital at nosebleed valuations is that the number of scenarios under which a positive outcome is possible becomes greatly diminished. By raising at $3.5 billion, Stripe, [... and Investors ...] — are betting that the company can exit at or above $7 billion. That’s a steep price and largely eliminates acquisition as an option. The list of potential acquirers is likely limited to Facebook, Google, Apple, eBay, Amazon, and Alibaba in the tech sector. On the financial side, there are the large banks and credit card companies. But it’s hard to see anyone ponying up $7 billion to acquire Stripe, which has yet to prove that it has a sustainable business or attractive margins. [...] Not every round requires a doubling valuation, and in this case, it may turn out that everyone involved would be better if more modesty was applied. [...] [ Merger of Square & Stripe as worst case scenario? ] [ & IPOs to forget - Box, Groupon, Zynga, HortonWorks ... ]
Venture  Capital  Stripe  Apple  Pay  PayPal  Google  Wallet  Bitcoin  Amazon  Alibaba  Rakuten  Silicon  Valley  growth  round  exitstrategy  exit  strategy  IPO  M&A  business  model  margin  AliPay  Braintree  mobile  first  mobile  homescreen  Platform  network  effect  economies  of  scale  scaling  scale  Venmo  valuation  ycombinator  Unicorn  Square  Wall  Street  mobile  payments  online  payments  creditcard  Visa  Mastercard  payments  micropayments  Start-Up  lesson  Start-Up  advice 
december 2014 by asterisk2a
Americans Facing More Inequality, More Debt and Now More Trouble? - YouTube
Middle Class, keeping up with the Jonses.

Did America's record-high level of economic inequality in 2007 help cause the financial crisis of 2008? With Americans' borrowing back on the rise and signs that economic inequality is growing, could there be another financial crisis in the near future? Paul Solman continues his series of reports on U.S. economic inequality.
income-gap  income  inequality  debt  debtoverhang  USA  public  private  economics  living-standard  household  crisis  credit  creditcrisis  GFC  subprime  middleclass  homeownership  creditcard  payday-loan 
august 2011 by asterisk2a
Currency Card - Home
World First MasterCard® PrepaidCurrency Card
- USD or EUR
-
- Travelex provides same but with more currency options.
- while worldfirst seems to be better with EUR USD denominations.
travel  travelex  prepaid  creditcard  holiday 
june 2011 by asterisk2a
Looking Behind the Decline in Credit Card Debt - NYTimes.com
“There is a lot of debate going on right now among economists,” “Is there truly deleveraging or are charge-offs removing a lot of balances?”

impact of tighter credit was working its way through an economy in which consumers continue to feel the effects of joblessness, lower incomes and declining housing values. “It has a braking effect on the economy, and the key thing is to get to the right balance,” he said. “We are in a process right now of finding that balance.”

Consumer debt has been steadily falling over the last couple of years. The Federal Reserve said last week that household liabilities — including mortgages, credit card accounts and nonrevolving accounts like auto loans — totaled $13.9 trillion in the second quarter of 2010, down $200 billion from the same quarter a year earlier.

Outstanding revolving accounts, mostly credit cards, declined to $832.2 billion from $915 billion in that same period, the Fed said in a separate report earlier in the month.
credicrunch  creditcard  debt  revolving  2010  deleveraging  consumer  private  consumption 
september 2010 by asterisk2a
Elizabeth Warren: America Without a Middle Class
Today, one in five Americans is unemployed, underemployed or just plain out of work. One in nine families can't make the minimum payment on their credit cards. One in eight mortgages is in default or foreclosure. One in eight Americans is on food stamps. More than 120,000 families are filing for bankruptcy every month. The economic crisis has wiped more than $5 trillion from pensions and savings, has left family balance sheets upside down, and threatens to put ten million homeowners out on the street.
middleclass  USA  unemployment  recession  creditcard  bankruptcy  foodstamps  foreclosure  savings  2009  2010  infographics 
december 2009 by asterisk2a
UK credit card borrowing falls to nine-month low - Telegraph
Recession-battered Brits borrowed only £79m on their credit cards in September as they continued to pay off debts for the third month in row.

Debts of £262m were repaid last month, although this was less than the £373m paid back in August.

A total of 56,215 mortgages were approved in September, up from 52,970 in August. This was better than expected and suggested that buyers were being drawn back into the housing market, encouraged by low interest rates and greater optimism about the economy.
private  debt  uk  2009  creditcard  borrowing  consumer  moneysupply  M4  BoE 
november 2009 by asterisk2a

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