asterisk2a + payday   15

STEVE KEEN on Private Debt - YouTube
the trick is up for tory austerity soon, when the private debt/household debt bubble bursts. and or the uk economy comes to a standstill. /// London has driven out the real wealth creators - https://www.youtube.com/watch?v=Dyk1t4wEDAE - democracy by houses, bc renters have no rights, &! Money , banks, debt seems not to matter in status quo economics - Prof Steve Keen on Parasitic Banking Sector London School of Economics - https://youtu.be/Kh99jEE18KY GFC recovery is not recovery it is Japanese style stagnation! ex imigration¬!
UK  London  Margaret  Thatcher  private  debt  Consumer  household  mortgage  GFC  recovery  Brexit  discretionary  spending  disposable  income  reflate  reflation  ZIRP  NIRP  QE  Austerity  service  sector  working  poor  squeezed  middle  class  leverage  economic  history  living  standard  wage  growth  mobility  social  inequality  Gini  Coefficient  tax  evasion  avoidance  HMRC  payday  loan  trickle-down  Tories  nasty  party  Conservative  George  Osborne  David  Cameron  JAM  Theresa  May  Philip  Hammond  IMF  OECD  neoliberalism  crony  capitalism  Exploitation  corporatism  Consumerism  materialism  GDP  underinvestment  ROI  BOE  Mark  Carney  Steve  Keen  book 
march 2017 by asterisk2a
UK credit binge approaching levels not seen since 2008 crash | Business | The Guardian
//&! http://bit.ly/2j5VMET - Shoppers are still pulling out the plastic, but borrowing may become less choice and more necessity as budgets are squeezed //&! http://bit.ly/2hW63rg - BOE unable to put "irrational behavior" into models, ie credit binge. //&! wrong for BOE to compare levels to GDP! http://bit.ly/2iR2fGY - AUSTERITY UK KEPT AFLOAT BY CONSUMER CREDIT BINGE! - 2015 economy growth was 80% consumer! &! Carney Warning Jan 2017 - http://www.bbc.co.uk/news/business-38644963
credit  card  car  loan  consumer  debt  household  mortgage  Property  bubble  UK  discretionary  spending  disposable  income  wage  growth  inflation  BOE  payday  auto  recovery  GFC  economic  history  Consumerism  materialism  Brexit  irrational  behavior  debtoverhang  austerity  ZIRP  NIRP  QE 
january 2017 by asterisk2a
What quality of life can minimum wage workers afford? - YouTube
&! youtu.be/9-Y7BPqj_G0 - One NYC family's struggle to survive on a fast food salary //&! Living Paycheck to Paycheck | The New York Times - youtu.be/45Ouqrnku2g //&! A Family Faces Food Insecurity in America’s Heartland - youtu.be/uV2XCQZWf_g //&! 2010, TrueNewsNetwork is more liberal conservative leaning take, against redistribution - youtu.be/F7Pq_FDIcpw //&! Poor Kids (Documentary) - Real Stories - youtu.be/i9aSp9bFmMg //&! Do minimum wage increases actually help the poor?
PBS NewsHour - youtu.be/_S0KeeGO660
working  poor  Precariat  minimum  wage  mindestlohn  working  tax  credit  child  tax  credit  in-work  benefit  subsidies  subsidizing  corporate  welfare  housing  benefit  social  mobility  income  mobility  class  warfare  USA  UK  poverty  trap  poverty  payday  loan  Loans  underemployed  underemployment  Zero  Hour  Contract  part-time  Food  Bank  Food  Stamps  living  standard  standard  of  living  quality  of  life  income  tax  credit  tax  free  income  income  redistribution  income  distribution  Gini  coefficient  child  poverty 
june 2016 by asterisk2a
Help-to-buy loan scheme nets Treasury £213m in paper profit | Money | The Guardian
[ gov is not co-owner of private property! Make away with Nurse Bursaries and other gov support for education. But support the property price! by keeping supply always lower than demand. and use policy to increase demand w subsidies! where to put their savings! & subsidy for builders ] Rising house prices across much of England mean a government scheme to help buyers of newbuild property may have made more than £200m for the Treasury in its first two-and-a-half years. The help-to-buy equity loan scheme gives buyers an interest-free loan for five years in return for a percentage stake in their property. When the home is sold, the buyer returns the same percentage of the sale price, meaning that any fall or rise in house prices affects the return. Analysis by property firm Hometrack and shared with the Guardian suggests that a surge in house prices in some areas means the total value of homes bought through the scheme since its launch in April 2013 has increased by more than £1bn.
property  bubble  UK  speculative  bubbles  Housing  Crisis  affordable  social  Help  to  Buy  Scheme  Right  to  Buy  Buy-to-Let  Help  to  Save  budget  deficit  austerity  constituency  Party  Funding  babyboomers  BOE  macroprudential  policy  mortgage  market  ZIRP  NIRP  QE  hunt  for  yield  distortion  financial  repression  household  debt  consumer  debt  credit  card  debt  Generationengerechtigkeit  generation  rent  fairness  asset  bubble  asset  allocation  NPL  subprime  Payday  Loans  car  loan  student  debt  student  loan  debt  student  loan  Tories  fiscal  policy  monetary  policy  policy  error  policy  folly  Conservative  Party  nasty  short-termism  voter  turnout  disenfranchise  disenfranchised  David  Cameron  George  Osborne  underinvestment  infrastructure  investment  productive  investment  recovery  Richard  Koo  balance  sheet  recession  deleveraging  debtoverhang  zombie  consumer  zombie  banks  zombie  corporations  secular  stagnation  Privatisation  trickle-down  economics  dogma  ideology  GFC  bank  bailout  subsidies  subsidizing  corporate  welfare 
february 2016 by asterisk2a
BBC Documentary - The Money Trap - How Banks Control the World Through Debt - YouTube
most profitable credit card debt customers are those making just the minimum payment. ... a credit card being a statement of status! retaining customers by upgrading them regularly w higher limits, new colors, new perks (they will never use). // unsecured lending - DEFINITION of 'Unsecured Loan' A loan that is issued and supported only by the borrower's creditworthiness, rather than by a type of collateral. An unsecured loan is one that is obtained without the use of property as collateral for the loan. // revolving debt // the higher your credit limit, the more you are likely to spend. // half of his income to just serve credit card fees and interest charges (no payments towards paying down) debt ... // banks lend irresponsibly bc they know they can get away with it, or somebody else will do it! because there is not regulation. no bank oversight. //&! The Truth about Payday Loans :Young, British and Broke - youtu.be/-yWxTvffbuE //&! Gambling/Betting Shops on Highstreet.
retail  banking  investment  banking  CDO  CDS  subprime  credit  card  debt  credit  card  financial  literacy  household  debt  mortgage  market  Payday  Loans  exploitation  debt  servitude  student  loan  debt  Bubble  property  ethics  moral  beliefs  revolving  debt  consumer  debt  debtoverhang  debt  Super  Cycle  student  debt  private  debt  status  symbol  instant  gratification  status  anxiety  socioeconomic  status  zombie  consumer  consumerist  consumerism  Protection  overdraft  materialism  crony  capitalism  capitalism  NPL  NINJA  Wall  Street  profit  maximisation  shareholder  value  bonuses  bonus  financial  incentive  incentive  creditrating  credit  creditrisk  credit  score  self-regulation  Bank  Oversight  financial  instruments  derivatives 
january 2016 by asterisk2a
How Credit Cards Tax America
But there’s a reason companies reward you for using credit cards. In America, credit cards are banks’ most profitable lending business. This is the aspect of credit cards that consumer advocates usually criticize: banks charge interest rates of 15% to 20% on $700 billion in outstanding credit card loans. Yet even if you pay your bill on time, Visa, Mastercard, and the banks still make lots of money off you. Every year, they earn more than $40 billion from transaction fees. At 2%, the average credit card fee can seem small. Sixty-three percent of American adults have a credit card, though, even more have debit cards that work similarly, and Americans use both to spend trillions of dollars each year. It adds up. // via https://redd.it/4063tj
credit  card  debt  credit  card  consumer  debt  Payday  Loans  Precariat  working  poor  retail  banking 
january 2016 by asterisk2a
Homelessness figures: Nearly 100,000 children in England 'homeless' - BBC News
Nearly 100,000 children in England are living in temporary accommodation after being made homeless, new figures show. // &! More & more student start work after graduation in low pay jobs not requiring a diploma, due to current job market/job creation situation in UK! Not hitting 21k repayment threshold - bbc.in/1OU0K3H - OBR show fewer are likely to start paying than was expected when the policy was introduced, [...] freezing the loan repayment threshold - alongside other changes such as replacing maintenance grants for poorer students with loans - will significantly increase the cost of going to university. It says this risks undermining pledges by successive governments to improve social mobility, as well as raising uncertainty in students' minds over the terms of their borrowing. //&! Higher education cuts 'risk NI being left behind' - bbc.in/1gZMrgj //&! Doctors warn Tories not to cut free school meals (child poverty, food poverty) bbc.in/1LewQrn
UK  property  bubble  Supply  and  Demand  Demand  and  Supply  affordable  housing  social  housing  Gini  coefficient  Generationengerechtigkeit  generation  rent  poverty  trap  child  poverty  food  poverty  austerity  Policy  Makers  dogma  ideology  neoliberalism  neoliberal  Tories  Conservative  Party  housing  market  Crisis  housing  benefit  benefits  welfare  state  social  safety  net  bank  bailout  fairness  social  cohesion  minority  constituency  error  folly  babyboomers  social  tension  Toff  Establishment  Privileged  Entitlement  general  election  2015  election  campaign  promises  Help  to  Buy  Scheme  excess  reserves  mortgage  market  Buy-to-Let  Right  to  Buy  Buy  to  Wall  Street  shareholder  value  profit  maximisation  inequality  Funding  for  Lending  Scheme  macroprudential  macroeconomic  microeconomics  disposable  income  discretionary  spending  debtoverhang  household  debt  recovery  2015  consumer  debt  debt  servitude  private  debt  Payday  Loans  Student  Loan  Millennials  generationy  secular  stagnation  low  income  prevention  job  security  job  market  labour  market  Niedriglohnsektor  Service  Sector  Jobs  job  creation  income  mobility  social  mobility  downward  mobility  precarious  work  Precariat  working  poor  University  vocational  education  professional  education  Maintenance  Student  Maintenance  child  Allowanc 
september 2015 by asterisk2a
Economist's View: 'The Effect of Payday Lending Restrictions on Liquor Sales'
The practice of short-term consumer financing known as payday lending remains controversial because the theoretical gains in welfare from greater credit access stand in opposition to anecdotal evidence that many borrowers are made worse off. [...] Our regression estimates indicate that the introduction of payday lending restrictions reduced liquor store sales by approximately 3.6% (statistically significant at the 1% level).
poverty  trap  Payday  Loans  DWP  sanctions  JSA  ESA  Iain  Duncan  Smith  GeorgeOsborne  David  Cameron  poverty  food  poverty  child  poverty  Tories  Conservative  Party  austerity  unemployment  long-term  unemployment  youth  unemployment  structural  unemployment  stigma  propaganda  populism  manufactured  consent  PR  spin  doctor  UK  substance  abuse  alcohol  abuse  apathy  sense  of  agency 
august 2015 by asterisk2a
Universities push for higher fees - BBC News
// distortion to choice of students - prospective workforce = miss allocation of resources/assets (human capital). this is not consumer choice. this is a choice that will be with the rest of your life. &! Tens of thousands of students are relying on payday loans to cover their daily living costs, a survey suggests. - bbc.co.uk/news/education-33328374
un-college  University  social  mobility  income  mobility  education  policy  Gini  coefficient  student  loan  debt  Bubble  student  debt  UK  inequality  Privileged  Toff  Establishment  Future  of  Work  practical  skills  practical  skill  set  Liberal  Arts  knowledge  worker  knowledge  economy  competitiveness  competitive  flat  world  globalisation  globalization  fiscal  policy  labour  market  labour  economics  human  capital  vocational  education  distortion  asset  allocation  capital  allocation  choice  apprenticeships  Payday  Loans  cost  of  living 
july 2015 by asterisk2a
The Real Looting of Baltimore... - YouTube
- same with mortgages linked to forex/different currency than your country of residence. // // abuse of existing instruments, not using it for intended purpose // and mis-selling of instruments and products - also see PPI ( Payment Protection Insurance ) mis-selling - http://www.bbc.co.uk/news/business-30695720 // and mis-selling forex linked loans (ie to Swiss Franc) to local governemnts and cities called Interest Rate Swap Mis-selling that got exorbinant expensive following the GFC actions (NIRP) by Central Banks (black swan) // all driven by managers meeting targets, getting and wanting bigger bonuses, wanting the bosses job, ... etc driven by cottage industry of analysts 'forecasting' that profit has to rise X% etc etc. // add also For Profit Schools! in the USA targeting Veterans & other rather financially illiterate :: youtu.be/P8pjd1QEA0c // biggest debt kind - mortgage and student loan debt // financial literacy also include gambling & lottery
Baltimore  Ferguson  mortgage  market  subprime  predatory  lending  practices  ninja  mortgage  UK  USA  Capitalism  crony  profit  maximisation  shareholder  value  foreign  currency  mortgage  bailout  corruption  abuse  of  power  CDS  MBS  lobbyist  lobby  Lobbying  revolving  door  Washington  GFC  toobigtofail  too  big  to  jail  TBTF  Gini  coefficient  financial  literacy  plutocracy  income  inequality  inequality  social  mobility  income  mobility  Western  World  Thomas  Piketty  economic  history  democracy  social  cohesion  libor  rigging  scandal  PPI  scandal  bonuses  bonus  Wall  Street  Payment  Protection  Insurance  mis-selling  Interest  Rate  Swap  banking  investment  banking  banking  crisis  American  Dream  Payday  Loans  debt  bubble  Super  Cycle  student  loan  debt  StudentLoans  lottery  gambling  downward  mobility 
may 2015 by asterisk2a
BBC News - Payday loan charges cap announced by FCA
Payday loan rates will be capped at 0.8% of the amount borrowed a day, said the Financial Conduct Authority (FCA). In total, no one will have to pay back more than twice what they borrowed, and there will be a £15 cap on default charges. The loan restrictions will start from January, the regulator said
Payday  Loans 
november 2014 by asterisk2a

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