asterisk2a + help   77

"Keiser Report" Episode 985 - YouTube
property prices have to come down. but that would put ppl in neg equity. gov keeping bubble alive. NOW gov buying up non-sold property w 2bn fund! - https://www.theguardian.com/business/2016/oct/06/government-could-buy-developers-unsold-homes-under-2bn-fund - A £2bn fund to boost housebuilding could be used by the government to offer guarantees to developers that it will step in to take on properties that they are unable to sell. - THIS IS A SMALL SCALE BAILOUT FOR FIRMS BUILDING -- SHITTY & OVERPRICED FLATS AND HOUSES!
Help  To  Save  Buy  Right  Whitehall  Westminster  property  bubble  UK  Brexit  housing  crisis  social  affordable  Theresa  May  David  Cameron  George  Osborne  Philip  Hammond  distortion  ZIRP  NIRP  QE  rentier  bailout  mortgage  BOE  subsidies  subsidizing  Corporate  welfare  crony  capitalism 
october 2016 by asterisk2a
Philip Hammond ditches Osborne's help-to-buy homes scheme | Money | The Guardian
Philip Hammond has confirmed that the government’s help-to-buy mortgage guarantee scheme will be closed by the end of the year, another of former chancellor George Osborne’s flagships now abandoned by the Treasury.

In a letter to Bank of England governor Mark Carney, the chancellor said the scheme had a “specific purpose that has now been successfully achieved”.

Launched in late 2013, the scheme meant buyers only needed to raise 5% of the property value for a deposit, with a government guarantee on a further 15% to give mortgage lenders the incentive to loan larger amounts.
Help  To  Buy  property  bubble  UK  affordable  housing  social  George  Osborne  David  Cameron  Philip  Hammond  Theresa  May  BOE  Mark  Carney  subsidies  subsidizing  privilege  Privileged 
september 2016 by asterisk2a
Andrew Mazzone Interviews James K. Galbraith
banks like property! more likely to lend to finance property than SME/SMB investment. because that investment is not propped up by the government. [...] min 6 subprime & credit bubble since 80's << behaviour of lenders [...] sensible people were given fraudulent debt instruments (no self-regulation, and regulators failed). [...] no prosecution because people who should have prosecuted those, didn't want to ruin their private future career. [...] min 15 - inequality and unemployment driven by inequality. [...] austerity is name of the game by the "establishment" - 20% of society that benefited from the bank bailout and reflation policy by central banks - [...] 19:15 - who do banks want to borrow in this environment?! austerity, aggregate demand shortfall, lack of confidence, volatility, uncertainty, credit bubble pain (liquidity trap) etc. [...] Solution ("an alternative way to the status quo, who made this mess): Fix Income Distribution thus Purchasing Power (aggregate demand, ie minimum wage), and restructure finance away from investment banking and speculation and derivatives towards real economy (ie tax heavily what is not real economy business) //&! James K. Galbraith on "Inequality and Instability: What's Ahead for the World Economy" - youtu.be/Mw4Bd9ols-E //&! James K. Galbraith - "The End of Normal" - youtu.be/PGFcB65l8Io
Gini  coefficient  income  distribution  1%  10%  20%  Super  Rich  property  bubble  London  rentier  rent-seeking  Help  to  Buy  Scheme  Help  to  Save  Funding  for  Lending  Scheme  underinvestment  infrastructure  investment  secular  stagnation  western  world  UK  USA  European  Union  deflation  deflationary  JAMESGALBRAITH  book  James  Kenneth  Galbraith  credit  bubble  credit  card  credit  card  debt  credit  boom  debt  servitude  speculation  speculative  bubble  speculative  bubbles  equity  bubble  reflate  reflation  GFC  recovery  austerity  Raghuram  Rajan  self-regulation  squeezed  middle  class  working  poor  Precariat  subprime  Wall  Street  regulation  regulators  Career  Politicians  politician  No  Representation  aggregate  demand  aggregate  demand  short-fall  liquidity  trap  retail  banking  investment  banking  ZIRP  NIRP  QE  Richard  Koo  inequality 
july 2016 by asterisk2a
Keiser Report: Your Special Brexit Coctail (E932) - YouTube
// housebuilding shares hammered. property funds close redemption possibility bc of too much redemption - bank run - funds have to sell some investments at a loss to repay investors. // what is weighting UK economy is too much debt to gdp (bank bailout), consumer credit (boe sounded alarm bells before brexit vote) and too much leverage. //&! Planet Ponzi Paperback (2012) by Mitch Feierstein //&! UK better out w problems of PIGS, Italy, and banking problem.
Brexit  ZIRP  NIRP  QE  asset  allocation  property  bubble  speculative  bubble  speculative  bubbles  mortgage  market  City  of  London  RBS  BOE  Mark  Carney  Help  to  Save  Help  to  Buy  Scheme  Funding  for  Lending  Scheme  Right  to  Buy  distortion  George  Osborne  David  Cameron  Centrist  austerity  Housing  Crisis  Conservative  Party  book 
june 2016 by asterisk2a
Future of Steel - Ken Clarke & Paul Mason - BBC Newsnight
[TORIES CRISIS: bedroom tax, JSA sanctions killing people, Food Banks, redefining child poverty and fuel poverty, Independent Living Fund closed, Housing Crisis, tax cut defeat in Lords, mental health, NHS strikes, Hinkley Point C, energy prices, London Airport expansion/3rd runway, ESA cut, PIP cut and resignation of IDS, Brexit splitting the Party, shit world economy, can't touch triple-lock pensions, Academy plans, Panama Papers (British Territory: Bahamas, Cayman & Co).] Now - Tories are victims to their own policy of underinvestment since 2010 of a future-proof economy "long-term predictability" [BREXIT & austerity not predictable]. Energy prices too high, not competitive. Manufacturing never recovered. Monetary policy has run its course (sedative + Chinas credit bubble). policy folly now wholly exposed! AND now they tinker with the idea of picking winners! LOL! nationalising or part-nationalising through guarantees or subsidies on energy price. & youtu.be/QJw24Z-cEoQ
underinvestment  austerity  Smart  Grid  energy  policy  energy  price  competitive  advantage  competitive  George  Osborne  David  Cameron  budget2010  budget2015  Budget2016  Manufacturing  current  account  deficit  budget  deficit  trade  deficit  TPP  AIIB  World  Bank  China  BRIC  commodity  prices  heavy  industry  microeconomic  policy  macroeconomic  policy  macroprudential  policy  Mark  Carney  education  policy  skills  gap  skill  gap  skill  investment  apprenticeship  further  education  immigration  migration  Tories  Conservative  Party  nasty  NIRP  ZIRP  QE  recovery  output  gap  productivity  productivity  gap  Service  Sector  Jobs  job  creation  labour  market  job  market  DWP  Iain  Duncan  Smith  general  election  2015  election  campaign  promises  Manifesto  corporate  restructuring  corporate  welfare  subsidies  subsidizing  corporate  subsidies  Privatisation  Nationalization  Nationalisation  constituency  Party  Funding  general  election  2020  IMF  OECD  policy  folly  policy  error  global  economy  credit  bubble  Germany  Hinkley  Point  C  renewable  energy  energy  storage  job  creation  fiscal  policy  monetary  policy  Mark  Carney  QE  ZIRP  NIRP  property  bubble  rent-seeking  rentier  liquidity-trap  liquidity  trap  Housing  Crisis  Help  to  Save  Help  to  Buy  Scheme  Right  to  Buy  Buy-to-Let 
april 2016 by asterisk2a
Ex-MPC member says rates will stay low until 2021 - BBC News
Blanchflower: Global economy "feels a little bit like 2008" Interest rates will likely fall further in Britain and remain at near record low levels until 2021, [...] Blanchflower described the backdrop to the committee's decision in March 2009 to cut rates to 0.5% as catastrophic. He said the MPC at the time had wished to avoid a death spiral. Britain was plunged into its deepest-ever recession in 2008 as confidence in banks collapsed and investment dried up. "We cut rates in November 2008 by 150 basis points (1.5%). It was clear that we should have cut by more but didn't because of the panic that it might have caused," he said. "It was absolutely clear that this (the financial crisis) was something we had not seen in a generation. We learned that the scale of the shock was enormous." [...] mortgage rates are 31% lower than before the crisis, while savers may have lost £106bn due to record low rates. //&! bbc.in/1YeqV87 &! bbc.in/1LGOxAf - central banks understated deflation pressure!
ZIRP  NIRP  QE  BOE  UK  global  economy  recovery  aggregate  demand  property  bubble  underinvestment  austerity  George  Osborne  speculative  bubbles  speculative  speculation  mortgage  market  macroprudential  policy  Mark  Carney  Help  to  Buy  Scheme  Help  to  Save  Right  to  Buy  Buy-to-Let  subprime  car  loan  credit  card  debt  zombie  consumer  zombie  corporations  zombie  banks  Richard  Koo  liquidity  trap  secular  stagnation  economic  history  GFC  household  debt  private  debt  consumer  debt  David  Blanchflower  Danny  Blanchflower  financial  repression  hunt  for  yield  asset  allocation  distortion  Super  Cycle  junk  bond  Gini  coefficient  deflationary  deflation  Taper  QT  monetary  policy  fiscal  policy  Pact  Schuldenbremse  BIS  ECB  Fed  BOJ  credit  bubble  PBOC  hot-money 
march 2016 by asterisk2a
Keiser Report: Sovietization of capitalism (E723) - YouTube
BIS 100% of private debt and finance sector larger than 3.9% of economy bad ... and siphoning off talent from more productive fields of work. And finance favours lending to property and land (low productivity). [...] financial products (derivatives) do not help economy. is just a financial product, fee collection. rentier! rent-seeking behaviour! fees fees fees. (JP Morgan, 89% of profits, see interview) [...] QE reflated asset prices/share prices! // In the second half, Max interviews David Graeber about his new book, The Utopia of Rules: On Technology, Stupidity and the Secret Joys of Bureaucracy.
private  debt  consumer  debt  household  debt  BIS  Wall  Street  recovery  zombie  banks  car  loan  credit  card  debt  student  loan  debt  student  loan  Bubble  student  debt  economic  history  GFC  secular  stagnation  UK  City  of  London  USA  investment  banking  retail  banking  BOE  Fed  macroeconomic  policy  microeconomic  policy  property  speculative  bubbles  speculative  speculation  productivity  output  gap  austerity  George  Osborne  dogma  ideology  constituency  Party  Funding  vested  interest  interest  groups  mortgage  market  Housing  Crisis  Help  to  Buy  Scheme  Help  to  Save  Funding  for  Lending  Scheme  Right  to  Buy  Buy-to-Let  subsidies  subsidizing  derivatives  financial  product  rent-seeking  rentier  QE  ZIRP  NIRP  reflate  reflation  Mark  Carney  fiscal  policy  monetary  policy  Richard  Koo  book  David  Graeber  MervynKing 
march 2016 by asterisk2a
Fiscal Costs of Hidden Deficits: Beware—When It Rains, It Pours | iMFdirect - The IMF Blog
For example, governments are often expected to cover the debts of local authorities or state-owned enterprises when these are unable to pay. Sometimes, governments also incur substantial costs from financial sector bailouts. Countries like Australia and the United Kingdom, record, monitor, disclose, and manage these potential liabilities to minimize risks to their budgets. However, in most cases, taxpayers only know about them when it’s too late. That is, when these liabilities are no longer “potential” but “actual.”
budget  deficit  UK  George  Osborne  economic  history  austerity  pension  obligation  bank  bailout  GFC  Help  to  Save  Help  to  Buy  Scheme  Right  to  Buy  Generationengerechtigkeit  macroprudential  policy  fiscal  policy  Career  Politicians  No  Representation  corporate  welfare  constituency  Party  Funding  subsidies  subsidizing  David  Cameron  Tories  Conservative  Party  nasty 
february 2016 by asterisk2a
This Letting Agent Admits The Housing Shortage Is Good News For Landlords - BuzzFeed News
[ Lord Adair Turner book & Richard Koo; banks tend 2 lend 2 property & land rather than productivity/businesses. risk averse, if the family cant pay the mortgage any more, than at least u have not lost all the money! less risky! Its also partly rentier behaviour of banks. // also BOE has to be concerned about future disposable income; rent & utilities eating up 50%-75% of income thus less for consumption! ] “Landlords’ balance sheets are looking healthier than at any point since 2014, and property investors are looking at an excellent rate of return from their portfolios.” Gill warned that changes to stamp duty announced in chancellor George Osborne’s Autumn Statement and due to take effect on 1 April – people selling buy-to-let investments will pay an extra 3% – were bad news for landlords. But overall, the “consistent and developing lack of housing for across all tenures, for a spiralling population” meant the level of demand for rental properties would not reduce, he said.
property  bubble  speculative  bubbles  asset  bubble  asset  allocation  macroprudential  policy  Generationengerechtigkeit  generation  rent  Housing  Crisis  social  affordable  distortion  ZIRP  NIRP  QE  aggregate  demand  Right  to  Buy  Buy-to-Let  Help  to  Buy  Scheme  Help  to  Save  policy  folly  policy  error  consumer  debt  household  debt  budget  deficit  recovery  mortgage  market  credit  bubble  GFC  bank  bailout  BOE  zombie  banks  rentier  rent-seeking  Richard  Koo  underinvestment  productive  investment  infrastructure  investment  zombie  consumer  industrial  policy  economic  history  Mark  Carney  financial  repression  behavioral  finance  behavioral  economics  herding  herd  hunt  for  yield  leverage  margin  trading  equity  bubble  Gini  coefficient  disposable  income  discretionary  spending  VAR  CDO  CDS  risk  aversion  squeezed  middle  class  secular  stagnation  inequality  UK  generational  contract  lost  generation  constituency  Tories  Conservative  Party  nasty  David  Cameron  George  Osborne  general  election  2015  general  election  2020  fiscal  policy  austerity  monetary  policy  liquidity  trap 
february 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
From Ticker - S&P: QE is driving inequality between the generations
Quantitative easing (QE) stabilized the economy but also exacerbated wealth disparity between rich and poor, mainly by boosting financial asset prices and house prices. //&! [ LOW PAY MINIMUM WAGE JOB CREATION ] During the U.K.’s recent “jobs-rich, pay-poor” economic recovery, strong employment gains were accompanied by a further rise of already high wage dispersion and an ever-growing share of part-time employment in lower income groups. //&! In the context of the tight housing market, low interest rates and QE are among the drivers behind the widening wealth and income gap between younger and older generations and between those on the housing ladder and those not on it. //&! Inequality is damaging! // bit.ly/1QtauyZ - Bank of England's recovery policies have increased inequality, finds S&P [...] spending too much on rent, not able to save for deposit! //&! bit.ly/1PPyEYl &! ti.me/1sbBtrz
QE  inequality  reflate  reflation  distortion  recovery  job  creation  Service  Sector  Jobs  UK  USA  fiscal  policy  monetary  policy  monetary  stimulus  unconventional  monetary  policy  Fed  BOE  bank  bailout  zombie  banks  zombie  consumer  zombie  corporations  ZIRP  NIRP  TARP  TLTRO  LTRO  ECB  equity  bubble  asset  bubble  property  bubble  Housing  Crisis  Help  to  Buy  Scheme  Help  to  Save  Right  to  Buy  income  inequality  Gini  coefficient  social  mobility  income  mobility  budget  deficit  austerity  George  Osborne  income  distribution  poverty  trap  tax  credit  low  pay  low  income  squeezed  middle  class  Precariat  Zero  Hour  Contract  Contractor  part-time  Tories  nasty  party  homeless  homelessness  social  affordable  Conservative  Toff  Privileged  Establishment  Funding  discretionary  spending  disposable  income  household  debt  consumer  debt  credit  card  debt  student  loan  debt  student  loan  student  debt  debt  servitude  economic  history 
february 2016 by asterisk2a
The Guardian view on starter homes: stop them now | Editorial | Opinion | The Guardian
The Guardian view on starter homes: stop them now. A policy supposed to spread house ownership more widely will end up bribing the rich with taxes on the poor //&! Spin and Positioning of PM Cameron at work in PMQ on housing crisis (rent sector lacking rights to decent homes) - bit.ly/1V30QXL - bit.ly/1QVAEx5 - 'We can only do XYZ with a strong economy!' 'We can only have the NHS with a strong economy.' << bit.ly/1Qua1S5 >> 'How do we pay for the NHS?! More growth! More jobs! More people having a livelihood! ... &! Said PMQ vertict - bit.ly/1Q8IAhy &! More of said session - bit.ly/1orUqHo //&! An actual analysis of Cameron's rebuttal, which factually doesn't stand up; bit.ly/1QrsdHa - Spin Master at work/misrepresentation; homelessness, social housing,
Starter  Home  generation  rent  social  housing  affordable  housing  Help  to  Save  Help  to  Buy  Scheme 
february 2016 by asterisk2a
Affordable housing: David Cameron’s starter homes plan is not the solution | Society | The Guardian
Affordable housing: David Cameron’s starter homes plan is not the solution A proposal to create ‘starter homes’ selling for 20% below market rate may be good news for developers, but is unlikely to make them build more houses. [...] Even if the starter homes plan does lead to an uptick in building, these are homes that will be on the market to buy, not for rent. They will give those who might have used the existing help to buy scheme an alternative choice, but they don’t offer an affordable alternative to homeownership, or an option for the priced-out. Mortgage rates mean that homes are relatively cheap to own, but expensive to buy, and raising a deposit for a home that can cost up to £250,000 outside London and £450,000 in London is no mean feat. To take a 95% mortgage on a £200,000 property you are looking at £10,000, plus stamp duty and other charges. Try saving that up when your rent is rising each year. //&! bit.ly/1Tcvlg6 - Cameron has to buy off his MP's constituency on policy
subsidies  subsidizing  Help  to  Buy  Scheme  Buy  to  Rent  Starter  Home  Housing  Crisis  social  affordable  benefit  constituency  Party  Funding  babyboomers  Generationengerechtigkeit  fairness  property  bubble  asset  bubble  Help  to  Save  Right  to  Buy 
february 2016 by asterisk2a
Starter homes will 'stymie social mobility' | Money | The Guardian
Shelter warns that David Cameron’s homebuilding policy will be out of reach for those on average earnings, while others say it may divide communities //&! Taylor Wimpey warns over plan to build discounted homes for first-time buyers. Housebuilder questions how proposed 20% saving on more than 200,000 properties would be implemented and its impact on affordable housing sector - bit.ly/1SdH4dS //&! new legislation that fails to address the problem of affordable rented housing - bit.ly/1O2XMIM //&! Britain’s biggest housebuilder and smaller rival Galliford Try report confident outlook thanks to government-backed schemes such as help to buy - bit.ly/1OQQvgM //&! Property has become a subsidized asset bubble for the well off upper quarter of British households! Tories main constituency, especially in the South! //&! Policy is attack in social and affordable housing! Privatisation through the back door. But not solving. PM just positions himself and it at it! spin! - bit.ly/1OJlYgt
Starter  Home  Help  to  Buy  Scheme  Buy  to  Rent  property  bubble  aggregate  demand  Housing  Crisis  social  affordable  Privatisation  benefit  Help  to  Save 
february 2016 by asterisk2a
Housing: Corbyn and Cameron clash over 'right-to-buy' - BBC News
[ micro/macro econ policy folly / error to promote home ownership. the only asset of UK households hold ... has to be kept afloat! by any means necessary. + Help to Buy ] The way the government intends to pay for its plans to allow social tenants in England to buy their homes is "extremely questionable", MPs say. The Commons Communities Committee criticised the funding model for the right-to-buy scheme, which will see housing associations reimbursed for selling homes to tenants at discounts. [ AND WITH THE MONEY THEY WANT TO BUILT STARTER HOMES FOR THE 30-20% of UK HOUSEHOLDS THAT CAN AFFORD A DOWN PAYMENT OF A 250-400k HOME. ] &! bit.ly/1hpXShr - PM will promise to tear up planning rules in effort to encourage developers to build more housing for first-time buyers //&! Buy to Rent w its tax breaks is a subsidy for privileged! & MPs say it should be paid for directly rather than via council house sales. Ministers say it will help create a million new homeowners by 2020.
Right  to  Buy  property  bubble  asset  allocation  household  debt  consumer  debt  credit  card  debt  car  loan  mortgage  market  affordable  housing  social  housing  Starter  Home  Crisis  David  Cameron  Tories  nasty  party  Conservative  short-termism  constituency  Funding  general  election  2020  general  election  2015  election  campaign  promises  Manifesto  generation  rent  Generationengerechtigkeit  speculative  bubbles  aggregate  demand  Supply  and  and  Supply  macroprudential  policy  Buy  to  subsidies  subsidizing  Help  to  Buy  Scheme  Privatisation 
february 2016 by asterisk2a
What's holding back the world economy? | Business | The Guardian
[ continued financialisation of economy / faustian pact ] QE and low interest rates have disproportionately created wealth in the financial sector and inflated asset bubbles. It has done little for the real economy. The rules of the market need to be rewritten [...] dominant policies during the post-crisis period – fiscal retrenchment and quantitative easing (QE) by major central banks – have offered little support to stimulate household consumption, investment, and growth. On the contrary, they have tended to make matters worse. In the US, quantitative easing did not boost consumption and investment partly because most of the additional liquidity returned to central banks’ coffers in the form of excess reserves. [...] private investment did not grow [...] [ QE supported only financial sector and zombie banks and corporations, little to nothing went into the real economy for investment in western world ] [ which leads us to say we are still in a banking crisis per se ]
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february 2016 by asterisk2a
If we want to solve the housing crisis, we must answer these three questions | Paul Mason | Opinion | The Guardian
[ prices have to stay afloat by any means, or conservatives are out for the next decade or two as they have done nothing to balance two sides. they continued to inflate the bubble further. proclaiming uk as home owning nation. ] If you then dramatically slash the supply of social housing, through right-to-buy and reduced council building, you create a permanent imbalance that turns home ownership into a form of asset investment. What you get then is boom and bust. And the only way to cure the bust is for the government to greet every collapse in market prices with effective state subsidies for home ownership. This, in turn, induces a speculative frenzy of one way bets – on development, on buy to let, on off-plan investment buying from abroad.
Housing  Crisis  social  affordable  property  bubble  Starter  Home  speculative  bubbles  distortion  macroprudential  policy  BOE  Buy  to  Rent  Help  to  Buy  Scheme  policy  error  policy  folly  subsidies  subsidizing  short-termism  opportunist  Opportunism  Career  Politicians  George  Osborne  David  Cameron  Mark  Carney  mortgage  market 
february 2016 by asterisk2a
Cameron: Labour doesn’t believe in home ownership – video | Society | The Guardian
home ownership is the only wealth item in privates balance sheet. but as we know from history, dont base ur wealth on one asset. particular houses. houses/flats are there to be lived in. & maybe move out & into a new one, moving city for new or better job. property should not be prioritised as singular wealth storage // USA promoted home ownership // Tories policy is helping people save, and buy, keeping the house prices going up an up and up. // &! Complete Privatisation of housing market; Ministers want to get rid of social housing, former civil service chief to say. Lord Kerslake to say housing bill will force councils to sell off more than 100,000 homes to subsidise right-to-buy discounts - bit.ly/1Qr1FKr - The former head of the civil service will accuse government ministers this week of trying to phase out social housing altogether in favour of a new generation of “starter” homes that will be unaffordable for people on low incomes. //&! bit.ly/20lvGOp Privatisation a disaster
nasty  party  policy  folly  policy  error  Makers  generation  rent  Tories  Conservative  mortgage  market  property  bubble  Housing  Crisis  household  debt  consumer  debt  credit  card  debt  zombie  consumer  subprime  cost  of  living  standard  of  living  Help  to  Buy  Scheme  Right  to  Buy  Buy-to-Let  Help-to-Save  macroprudential  policy  wealth  distribution  wealth  management  austerity  neoliberalism  neoliberal  social  affordable  Privatisation  budget  deficit  Council  Public  Services  Services  David  Cameron  George  Osborne  budget2015 
january 2016 by asterisk2a
Under-40s worse off as result of state pension changes, data shows | Money | The Guardian
[ how do you save up when you can afford housing (nor even a mortgage, have credit cards (drinks and presents), and student loan. all the while tories help to prop-up the property bubble, the only wealth uk households actually have! ] Most people now in their teens, 20s and 30s will be worse off as a result of changes to the state pension system, while millions of older people will gain, according to the government’s own figures. The data will fuel concern that millions of younger people are suffering from the effects of what has been dubbed “intergenerational unfairness”, partly caused by the government targeting money and resources at the older generation. DWP issued the data to back up its assertion that the introduction of the new flat-rate state pension in April “will make millions of people better off” – but the figures also provide stark confirmation that younger people will be losers from the changes.
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january 2016 by asterisk2a
Top judge says justice system is now unaffordable to most | Law | The Guardian
[ the budget a excel spreadsheet in No 10, with grades @ the end what upsets donors & what upsets the minimum of potential voters - is Career Politicans calculated approach. & shifting a public item off the balance sheet onto the private balance sheet! again! the debt is still there! & what does Tory gov support? Home Buyers! ] Civil justice is unaffordable for most people, more people are being forced to represent themselves, and judges – whose pensions have been cut – feel under-appreciated, according to the lord chief justice. [...] “Our system of justice has become unaffordable to most,” Thomas said in the introduction to his report. “In consequence there has been a considerable increase of litigants in person for whom our current court system is not really designed. //&! Court fees jeopardise Magna Carta principles, says lord chief justice. Mandatory court charges of up to £1,200 put justice beyond reach of majority, says Lord Thomas - bit.ly/1ZXfhAE &! bbc.in/1RmyLMD
injustice  inequality  economic  justice  System  justice  austerity  Tories  nasty  party  Conservative  George  Osborne  David  Cameron  Westminster  No  Representation  Career  Politicians  Toff  Privileged  Establishment  democracy  social  democracy  lobbyist  lobby  Lobbying  GFC  white-collar  crime  bank  bailout  Gini  coefficient  revolving  door  Funding  constituency  babyboomers  working  poor  Precariat  tax  credit  budget2015  fairness  Generationengerechtigkeit  political  economy  political  theory  policy  folly  policy  error  household  debt  private  debt  budget  deficit  public  sentiment  Help  to  Buy  Scheme  Right  to  Buy  property  bubble 
january 2016 by asterisk2a
Thomas Piketty on Capitalism, Corbyn and why Zuckerberg is getting it wrong - BBC Newsnight - YouTube
home ownership in UK is biggest item of UK's household wealth. 2/3rd of housing is owned. other 3rd is rented. that is why the property bubble/prices have to be kept afloat. otherwise balance sheet recession > deleveraging > debt servitude > lower consumption rate > cratering UK economy as ~70% of UK economy is based on consumption. // blaming others (ISIS) for radicalization. but who put them in this place to be radicalized, in the first place? inequality, youth unemployment. // COP21, western world do not face their historical obligation! // world wealth and income database - www.wid.world
philanthropy  Thomas  Piketty  Mark  Zuckerberg  Bill  Gates  social  mobility  income  mobility  Gini  coefficient  meritocracy  meritocratic  Alain  de  Botton  UK  George  Osborne  property  bubble  tax  code  progressive  taxation  Help  to  Buy  Scheme  Buy  to  Rent  rent-seeking  rentier  generation  GFC  bank  bailout  austerity  fairness  Generationengerechtigkeit  Tories  Conservative  Party  David  Cameron  budget2015  inequality  income  inequality  youth  unemployment  radicalization  islamic  radicalism  radicalisation  Islamophobia  ISIS  disenfranchise  disenfranchised  Perspective  Perspektivlosigkeit  COP21  debt  servitude  Super  Cycle  household  debt  private  debt  credit  card  debt  car  loan  credit  card  consumer  debt  debtoverhang  2015  2016  fiscal  policy  Makers  vested  interest  interest  groups  monetary  policy  ZIRP  NIRP  QE  distortion  Super  Rich  1%  plutocracy  democracy  No  Representation  social  democracy  Career  Politicians  constituency  babyboomers  general  election  2015  election  campaign  promises  Manifesto 
january 2016 by asterisk2a
Osborne warns of 'dangerous cocktail' of economic risks - BBC News
[ repeat phrases - "strong economy", "strong economy, strong NHS" ] The UK faces a "cocktail" of serious threats from a slowing global economy as 2016 begins, Chancellor George Osborne has warned. Speaking in Cardiff, Mr Osborne said this year is likely to be one of the toughest since the financial crisis. He told business leaders that far from "mission accomplished" on the economy, "2016 is the year of mission critical". His message is in stark contrast to the positive tone of his Autumn Statement, when he said the UK was "growing fast". [...] that the Autumn Statement had put in place a four-year plan to restore the UK's public finances, and make the economy more productive, with businesses more competitive so they could create jobs. [...] Mr Osborne told the Today programme the UK's economic recovery was not "a debt-fuelled recovery", citing the support of the governor of the Bank of England in his assessment. [ not public, but private household debt! ]
George  Osborne  Career  Politicians  PR  spin  doctor  budget2015  Tories  Conservative  Party  nasty  austerity  underinvestment  productive  investment  productivity  output  gap  job  creation  wage  growth  consumer  debt  household  debt  Positioning  energy  policy  competitiveness  renewable  energy  corporate  welfare  corporate  tax  rate  Generationengerechtigkeit  fairness  subsidies  subsidizing  NHS  Jeremy  Hunt  David  Cameron  general  election  2015  election  campaign  promises  Manifesto  constituency  babyboomers  Opportunism  opportunist  Oil  price  bank  bailout  fiscal  policy  monetary  policy  Housing  Crisis  affordable  generation  rent  property  bubble  NPL  mortgage  market  car  loan  credit  card  debt  budget  deficit  balance  sheet  current  account  deficit  trade  deficit  borderless  flat  world  globalisation  globalization  debt  servitude  debtoverhang  student  loan  debt  private  debt  sovereign  debt  corporate  debt  student  debt  student  loan  Maintenance  Grant  Education  Maintenance  Allowance  ZIRP  NIRP  QE  distortion  BOE  Buy-to-Let  Help  to  Buy  Scheme 
january 2016 by asterisk2a
The end of life tenancies for council houses will be a costly mistake | Deborah Orr | Opinion | The Guardian
The Conservatives believe fear is a great motivator. You’ll work harder if you fear losing your job. (Although job insecurity doesn’t seem to have done much to improve UK productivity.) You’ll get a job if you fear losing your benefits. (Or maybe kill yourself.) And so on. [...] Many people have given up on the idea of equal security, but see equal insecurity as an achievable goal. This kind of perverse, negative “socialism” is something that the Tories are good at exploiting. [...] This current generation of young adults, on the whole, can neither buy a home nor get council tenancies. Private landlords rule the roost once more. //&! bit.ly/1Y4LLVO
DWP  Tories  Housing  Crisis  social  affordable  nasty  party  Toff  Privileged  trickle-down  economics  neoliberalism  neoliberal  Establishment  budget2015  Privatisation  Right  to  Buy  Buy-to-Let  Help  to  Buy  Scheme  inequality  Gini  coefficient  property  rights  UK  democracy  dogma  ideology  social  democracy  George  Osborne  Manifesto  austerity  general  election  2015  constituency  babyboomers  Generationengerechtigkeit  generation  rent  election  campaign  promises 
december 2015 by asterisk2a
The roof is being fixed but beware the house crashing beneath it | Business | The Guardian
Consumer spending is driving economic growth but household debt and the house price-income ratio is at a record high. Be afraid [...] It is worth recalling that when Osborne became chancellor five and a half years ago that he had two big objectives. The first was to repair the hole in the public finances, which is still very much a work in progress. The other was to shift the centre of gravity of the economy back towards making things for export. This remains a pipedream. [...] Despite the welcome pickup in business investment, the main driver of growth has been consumer spending, which has been boosted by low interest rates, the fall in inflation caused by lower oil prices, and a modest acceleration in earnings. [...] “not the ideal shape for the recovery” and it can say that again. The current recovery looks like all the previous recoveries. [...] “Fast-rising household debt is needed to maintain a reasonable rate of growth in consumers’ spending and GDP in a world of austerity ...
household  debt  consumer  debt  zombie  consumer  recovery  credit  card  debt  credit  card  materialism  status  anxiety  USA  UK  Super  Cycle  debtoverhang  mortgage  market  Housing  Crisis  debt  servitude  NPL  property  bubble  speculative  bubbles  ZIRP  NIRP  QE  BOE  Buy-to-Let  Help  to  Buy  Scheme  Right  to  Buy  student  loan  debt  debt  bubble  student  debt  private  debt  economic  growth  GFC  fiscal  policy  austerity  industrial  policy  underinvestment  productive  investment  competitive  competitiveness  George  Osborne  dogma  ideology  neoliberalism  neoliberal  David  Cameron  Tories  nasty  party  Conservative  economic  history  energy  policy  energy  price  STEM  Manufacturing  diversity  microeconomic  policy  macroeconomic  policy  Amber  Rudd  debt  monetisation  debt  monetization  secular  stagnation  disposable  income  discretionary  spending  squeezed  middle  class  working  poor  consumerist  consumerism  trickle-down  economics  status  symbol  market  affordable  social  budget2015  marginal  propensity  to  consume  Precariat  tax  credit 
december 2015 by asterisk2a
UK's most expensive city facing 'catastrophe' - BBC News
shortage of supply = unaffordable = nobody can afford to live there, work there, study there. or have to commute from out of town for 1 hour or more. // this is not only a problem in Oxford. NHS Grampian has problems of recruiting because unaffordable house prices and rents pushed up by Oil Industry and the lack of new housing. Same for teaching jobs. // all the while building companies make pumper profits and even skirt around the edges to lower the ratio of social and affordable housing they have to provide with each new big project. its in their interest, if prices were to fell, they would make less money. so they build not enough to keep up with demand at all. and not enough so each new builds profit rises because of risen demand and people willing to pay more for the same house or flat from previous year or two or three despite no real improvement in the build technically/energy efficiency wise/or architecture wise - modern, wide open, big windows. //
UK  Housing  Crisis  green  belt  Supply  and  Demand  Demand  and  Supply  property  bubble  speculative  bubbles  generation  rent  Generationengerechtigkeit  fairness  babyboomers  vested  interest  interest  groups  mortgage  market  shared  economic  interest  commuting  quality  of  life  standard  of  living  cost  of  living  city  living  disposable  income  discretionary  spending  underinvestment  productive  investment  NHS  Grampian  Public  Services  Social  Services  Tories  nasty  party  Conservative  distortion  ZIRP  NIRP  QE  hot-money  credit  bubble  China  capitalism  collusion  Policy  Makers  lobbyist  lobby  Lobbying  affordable  cost  of  entry  cost  center  cost  of  ownership  cost  of  Career  Politicians  No  Representation  democracy  interest  minority  folly  error  competitive  competitiveness  macroprudential  Buy  to  Help  to  Buy  Scheme  Right  to  Buy  fiscal  austerity  deprivation  urbanisation  urban  planning  monetary  unknown  unkown  unintended  consequences  general  election  2020  George  Osborne  David  Cameron  Toff  Privileged  Establishment  Entitlement  Millennials  generationy 
october 2015 by asterisk2a
The political power of bricks and mortar - BBC News
Few deny that the UK is facing a housing crisis, the subject has become a hot political topic. But the best way to solve it is still widely disputed, as national ambition confronts local anxiety and tradition.
Housing  Crisis  UK  affordable  social  generation  rent  Generationengerechtigkeit  neoliberalism  neoliberal  austerity  Policy  Makers  Tories  constituency  property  bubble  Conservative  Party  babyboomers  asset  bubble  speculative  bubbles  speculative  Buy  to  Help  to  Buy  Scheme  Supply  and  Demand  Demand  and  Supply  fairness  Right  to  Buy  election  campaign  promises  general  election  2015  budget2015  David  Cameron  nasty  George  Osborne  green  belt 
october 2015 by asterisk2a
Cameron responds to Question Time tax credits complaint | Money | The Guardian
[S]he & her four children were entirely dependent on a combination of working tax credits & child benefits because her business did not make a profit. “I get £400 a week in tax credits, child maintenance from my ex-partner & child benefit. And that’s what I live on. What I make from the business goes straight back into it.” Dorrell, who accused the Tories of telling lies to her and others in a similar situation [...] The House of Commons has approved the cuts to tax credits, with only a handful of Conservatives rebelling against the measures. [...] [The] IFS & the Resolution Foundation say the welfare cuts in Osborne’s summer budget will leave some of Britain’s poorest families up to £1,300 a year out of pocket. Paul Johnson, the director of the IFS, has said it is “arithmetically impossible” for workers not to lose out from the cuts. //&! bit.ly/1jsM5AQ - The ‘work penalty’ will hit the strivers of the country & youtu.be/wrbu6NFazfU & bit.ly/1Pn59NQ & bit.ly/1h98H3X
tax  credit  tax  code  child  tax  credit  working  tax  credit  working  poor  precarious  work  Precariat  low  income  low  pay  minimum  wage  inequality  income  distribution  income  redistribution  tax  free  income  income  tax  income  inequality  Universal  Basic  budget2015  fairness  Generationengerechtigkeit  bank  bailout  tax  evasion  tax  avoidance  corporate  welfare  subsidies  subsidizing  aggregate  demand  crony  capitalism  neoliberalism  neoliberal  corporate  tax  rate  capitalism  Wall  Street  GFC  shareholder  value  profit  maximisation  Gesellschaft  vulnerable  Disabled  austerity  democracy  Career  Politicians  No  Representation  nasty  party  Tories  Conservative  reframing  framing  PR  spin  doctor  Positioning  manufactured  consent  corporate  scandal  Polarisation  DWP  JSA  ESA  Iain  Duncan  Smith  Jeremy  Hunt  George  Osborne  David  Cameron  NHS  Public  Services  Social  Services  propaganda  corporate  media  corporate  state  populism  bedroom  tax  Right  to  Buy  messaging  message  relations  Help  to  Buy  Scheme  political  theory  neoconservatism  neoconservatives 
october 2015 by asterisk2a
Average monthly rent hits record high of £816, highlighting housing shortage | Money | The Guardian
Rents rose across most of England by averages of 6.3% and 8.5% in past year, say separate studies, but fell in the north-west, north-east and Wales [...] Housing charity Shelter said the figures “highlight the plight of an entire generation stuck in insecure and expensive private renting”. On Tuesday, official figures underlined the continuing difficulty of buying, as UK house prices surged to a record peak of £284,000 on average in August. According to the report from Your Move and Reeds Rains, rents rose to a “new all-time record” in September and are up a typical 6.3% on an annual basis. It found that rents are now almost a quarter (24%) higher than in January 2010, while the index of CPI inflation is just 14% higher over the same period. // bonuses and pay and profit for building companies are up as well. actively restricting demand to push up prices marginally (compounding over time). nearly all property sells before even the first brick is put down for the development!]
generation  rent  Generationengerechtigkeit  fairness  mortgage  market  social  housing  affordable  housing  discretionary  spending  disposable  income  Supply  and  Demand  Demand  and  Supply  housing  market  Crisis  profiteer  Wall  Street  crony  capitalism  capitalism  shareholder  value  profit  maximisation  CEO  pay  bonuses  standard  of  living  quality  of  life  speculative  bubbles  ZIRP  NIRP  QE  constituency  nasty  party  Tories  Conservative  Policy  Makers  neoliberalism  neoliberal  Buy-to-Let  Help  to  Buy  Scheme  Right  to  Buy 
october 2015 by asterisk2a
UK mortgage market, Barclays Qatar probe and US bank CEOs by FT Banking Weekly
there will be no push for new homes to flood the market, increasing prices support status quo, Loan to value measures (underwater or not?). house prices outpaced income since GFC. Buy-to-Let amplifies boom-bust. bank system resilient enough for 35% fall of prices. // generationengerechtigkeit - more of disposable income to spend on rent! putting money into pockets of rentier (buy-to-let) who can him or herself buy only so many pairs of jeans.
UK  mortgage  market  2015  NPL  underwater  CDS  securitisation  retail  banking  investment  banking  CDO  Taper  BOE  ZIRP  NIRP  QE  property  bubble  Buy-to-Let  Help  to  Buy  Scheme  self-regulation  regulation  regulators  Right  to  Buy  generation  rent  Supply  and  Demand  Demand  and  Supply  distortion  GFC  recovery  leverage  macroprudential  policy  microeconomic  policy  constituency  Tories  Conservative  Party  Generationengerechtigkeit  rent-seeking  rentier 
october 2015 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
Bank of England concerns over buy-to-let boom - BBC News
The growing buy-to-let property market in the UK could post a threat to wider financial stability, a Bank of England committee has said. [...] Buy-to-let mortgage lending had the potential to "amplify" a housing boom and bust, the Bank's Financial Stability Committee (FPC) concluded. Lending in this sector has risen by 40% since 2008, the FPC said. It stopped short of suggesting any intervention by government or regulators at this stage. "The FPC is alert to the rapid growth of the market and potential developments in underwriting standards," the committee said.
Buy-to-Let  Right  to  Buy  Help  to  Buy  Scheme  Funding  for  Lending  Scheme  BOE  macroprudential  policy  macroeconomic  policy  microeconomic  policy  fiscal  policy  monetary  policy  unconventional  monetary  policy  ZIRP  NIRP  QE  Supply  and  Demand  Demand  and  Supply  distortion  mortgage  market  NPL  Boom  and  Bust  irrational  exuberance  rent-seeking  rentier  generation  rent  Buy  to  Tories  Conservative  Party  Makers  Mark  Carney  FOMO  underinvestment  productive  investment  Wall  Street  shareholder  value  profit  maximisation  excess  reserves  zombie  banks  investment  banking  retail  banking  London  Westminster  Career  Politicians  recovery  GFC  No  Representation  Millennials  Generationengerechtigkeit  fairness  infrastructure  investment  George  Osborne  constituency  babyboomers 
september 2015 by asterisk2a
The new right to buy is solving 1979’s problems at today’s expense | Gaby Hinsliff | Comment is free | The Guardian
This Thatcherite policy revival fails to recognise that the main cause of the housing crisis is affordability //&! Housing bill needs radical, long-term measures to reform the market. As well as increasing supply, the government needs to use the tax system to make buy-to-let less attractive as an investment - bit.ly/1PDxWe3
Help  to  Buy  Scheme  Buy  to  Rent  Right  to  Buy  neoliberalism  neoliberal  Supply  and  Demand  Demand  and  Supply  Tories  Conservative  Party  austerity  David  Cameron  George  Osborne  dogma  ideology  affordable  housing  social  housing  UK  2015  budget2015  Generationengerechtigkeit  generation  bank  bailout  banking  crisis  bank  crisis  trickle-down  economics  Wall  Street  profit  maximisation  shareholder  value  shared  economic  interest  infrastructure  investment  underinvestment  general  election  2020  general  election  2015  election  campaign  promises  productive  investment  productivity  output  gap  commuting  disposable  income  discretionary  spending  wage  growth  wage  stagnation  income  growth  low  income  job  creation  labour  market  job  market  labour  economics  Niedriglohnsektor  squeezed  middle  class  generationy  Millennials  sovereign  debt  crisis  recovery  economic  history  household  debt  consumer  debt  debt  servitude  credit  bubble  NPL  mortgage  market  BOE  fiscal  policy  monetary  policy  macroprudential  policy  macroeconomic  policy  microeconomic  policy  Mark  Carney  financial  incentive  tax  code  distortion  Buy-to-Let 
september 2015 by asterisk2a
The other generation rent: meet the people flatsharing in their 40s | Money | The Guardian
Number of flatsharers aged 45-54 has risen by 300% in five years, figures show, amid soaring house prices, especially in London [...] Photographer Alex Forsey, 44, is typical of the new generation of flatsharers in their 40s. He recently moved into a house in Clapton, east London, with three other people in their 20s to 40s. He said: “The most affordable one-bed flat I was shown was £1,200 a month, and it was worse than a squat. The agent tried telling me it was a bargain.” //&! ability to get interest only loan is unbelievable.
generation  rent  London  property  bubble  Supply  and  Demand  Demand  and  Supply  UK  distortion  ZIRP  NIRP  QE  asset  allocation  asset  bubble  alternative  investment  Buy  to  Help  to  Buy  Scheme  Funding  for  Lending  Scheme  excess  reserves  mortgage  market  2015  macroprudential  policy  macroeconomic  policy  microeconomic  policy  BOE  NPL  subprime  cost  of  living  cost  of  entry  living  standard  living  spaces  standard  of  living  air  pollution  noise  pollution  city  living  urbanisation  economies  of  agglomeration 
september 2015 by asterisk2a
Borrowing up amid interest rates speculation - BBC News
Mortgage brokers said that the relatively low mortgage rates on offer could be a response to a mismatch of supply and demand. "The mortgage market remains over supplied with lenders having more money to lend than there are people looking for home loans. This means criteria will have to loosen and rates will have to remain low to ensure lenders hit their volume targets," said Mark Harris, chief executive of SPF Private Clients. "For many, the main issue is not so much finding a cheap mortgage rate but being able to prove affordability to satisfy the lender and meet [the regulator's] tighter criteria."
property  bubble  mortgage  market  distortion  affordable  housing  housing  market  Crisis  UK  social  housing  generation  rent  Supply  and  Demand  Demand  and  Supply  debtoverhang  household  debt  consumer  debt  debt  servitude  disposable  income  discretionary  spending  private  debt  2015  Taper  BOE  ZIRP  NIRP  QE  Help  to  Buy  Scheme  Funding  for  Lending  Scheme  excess  reserves  unknown  unkown  unintended  consequences  subprime  macroprudential  policy 
september 2015 by asterisk2a
BBC News - A history of social housing
Viability assessments are commercially confidential. not even the council can have a look at them. just get yes/no, and something liking to an executive summary. >> bbc.in/1FR9JAh - The UK has a serious shortage of affordable homes. Lesley Curwen asks whether the current system - where councils do deals with developers to provide cheaper homes - is working. [...] in transparent, not accountable, no inclusion of community/tax payer. abuse of the system & situation. writing their own rules. knowing they have the leverage/upper hand due to the shortage and pressure put on councils by public due to shortage. the new-smaller bankster! Out come additional/more cost for everyone due all this. This is not a market. This is a one way game, again. Like the bank bailout was. either you bail us out on our conditions or you go down with us. // &! Why can't the UK build 240,000 houses a year? - bbc.in/1xjHHTi // &! bit.ly/17zBXQv - The housing crisis in charts &! bit.ly/1Nboz5Y &! bit.ly/1t4PWYh
social  housing  affordable  housing  UK  austerity  Tories  Conservative  Party  neoliberalism  neoliberal  exploitation  lobbyist  lobby  Lobbying  homeownership  Generationengerechtigkeit  generation  rent  fairness  Career  Politicians  No  Representation  social  contract  working  poor  Precariat  Help  to  Buy  Scheme  shared  economic  interest  disposable  income  discretionary  spending  long-term  view  long-term  thinking  property  bubble  mortgage  market  2015  segregation  social  cleansing  gentrification  Gentrified  urban  planning  urbanisation  social  cohesion  social  tension  political  theory  wage  stagnation  wage  growth  economic  history  Supply  and  Demand  Demand  and  Supply  bureaucracy 
september 2015 by asterisk2a
UK house price inflation ticks up, says ONS - BBC News
Housing charity Shelter said the ONS figures showed that the average price of a property had risen by £12,000 in the past year, pricing even more people out of the market. It appealed to the government to build more homes. Last week, the Royal Institution of Chartered Surveyors (Rics) reported that the number of homes for sale had sunk to a record low. The accountancy firm PwC said many more people would be forced to rent, rather than buy, their homes in the years ahead. "By 2025 there will be more private renters than people owning a home with a mortgage, " said Richard Snook, senior economist with PwC. "Today's figures show that house prices are growing at more than twice the rate of average earnings, further squeezing affordability for buyers."
generation  rent  UK  affordable  housing  social  housing  Right  to  Buy  Help  to  Buy  Scheme  macroprudential  policy  George  Osborne  David  Cameron  budget2015  policy  folly  policy  error  babyboomers  fairness  Generationengerechtigkeit  cost  of  living  cost  of  ownership  mortgage  market  property  bubble  housing  market 
august 2015 by asterisk2a
Why Generation Rent doesn’t care about your precious green belt | Joel Golby | Comment is free | The Guardian
Just concrete over it. We’d rather have the chance to get off the renting treadmill than the chance to occasionally eat a blackberry
generation  rent  Housing  Crisis  Generationengerechtigkeit  disposable  income  discretionary  spending  Right  to  Buy  Buy-to-Let  Help  to  Buy  Scheme  property  bubble 
august 2015 by asterisk2a
UK interest rate rises - waiting for lift-off | Business | The Guardian
In 2018 – by when, bear in mind, most of the work of austerity is expected to have been done – Miles calculates that fiscal consolidation will still drag interest rates downwards by more than 0.75% compared to what would otherwise be the case. This is one of the factors explaining the (commonly held) assumption that interest rates will approach a “new normal” over the next few years that is likely to be about half as high as the 5% that prevailed pre-financial crisis. Even in the second half of the parliament this “fiscal headwind” will still be blowing strong. [...] The case for introducing more transparency isn’t mere technocratic trimming. The balance struck between monetary and fiscal policy has big consequences. There are obvious distributional implications (all else equal, mortgage holders win; savers lose). There are ramifications too for the capital allocation process, the current account, and the risk of an asset-bubble. The list goes on: the macro-mix matters.
BOE  Taper  austerity  fiscal  policy  monetary  policy  ZIRP  NIRP  QE  UK  economic  history  recovery  fiscal  stimulus  monetary  stimulus  Mark  Carney  2015  balance  sheet  recession  debtoverhang  deleveraging  savings  rate  consumer  debt  sovereign  debt  crisis  household  debt  debt  monetisation  debt  monetization  private  debt  credit  card  mortgage  market  discretionary  spending  disposable  income  macroeconomics  macroprudential  policy  macroeconomic  policy  microeconomic  policy  current  account  deficit  Makers  policy  folly  policy  error  Career  Politicians  No  Representation  short-term  thinking  short-term  view  David  Cameron  George  Osborne  IMF  OECD  Toff  dogma  ideology  neoliberalism  neoliberal  fairness  Establishment  Privileged  asset  bubble  hunt  for  yield  asset  allocation  speculative  bubbles  Funding  for  Lending  Scheme  Help  to  Buy  Scheme  housing  market  affordable  housing  STEM  education  policy  industrial  policy  globalization  globalisation  competitiveness  competitive  competition  competitive  advantage  London  Westminster  distortion 
august 2015 by asterisk2a
Generation rent: the housing ladder starts to collapse for the under-40s | Money | The Guardian
House price rises of 5% a year and a shortage of affordable homes are set to swell the ranks of “generation rent” over the next decade, so that by 2025 more than half of those under 40 will be living in properties owned by private landlords. A report from economists at accountancy firm PwC suggests the number of new homebuyers is set to fall over the next 10 years, as the high cost of raising a deposit locks large segments of society out of the housing market. [...] “A large and sustained increase in affordable housing supply will be required to meet the needs of a UK population that is growing relatively rapidly by European standards.” // Tories pledged new Right to Buy Scheme of their Council house/flat in the general election 2015. And promises to reform building and planning process probably will come shot of. // bit.ly/1JgWVn1 << landlords (especially buy to let) display rent-seeking behavior! renter rights need to be strengthened in light of current times & of future to come.
UK  affordable  housing  housing  market  Supply  and  Demand  Demand  and  Supply  Help  to  Buy  Scheme  macroprudential  policy  2015  mortgage  market  speculative  bubbles  China  London  social  housing  Makers  generation  rent  asset  bubble  ZIRP  NIRP  QE  Right  to  Buy  Tories  Conservative  Party  general  election  2015  election  campaign  promises  rent-seeking 
july 2015 by asterisk2a
Sorry to burst your bubble | The Economist
bit.ly/1IfX0s9 // "According to two new papers, the crucial variable that separates relatively harmless frenzies from disastrous ones is debt." // see China Stock Market leverage pop mid 2015 - with its huge rise in margin debt trading ... money which was flowing out of the property market into the Stock Market // // &! so if it is about debt - UK mortgage market & consumer/private debt of all kind (loans and credit card debt) does qualify as they took up what was cut by austerity. Plus the Supply Demand distortion, with new builds/project at a decades lowest. // Question for China. The China problem. Can they make their system sustainable before it will crush everyone. // The most obvious is China. But the next one will be different & greater than all came before. Period. Still, UK had not a housing bubble collapse on its own making. Only through endogenous circumstances. UK recession as UK economy runs mostly on consumer sector & debt) bit.ly/1OpClSO bit.ly/1wQITjb bit.ly/1SycLtY
leverage  debtoverhang  equity  bubble  regulation  self-regulation  regulators  debt  servitude  consumer  debt  sovereign  debt  crisis  debt  bubble  Super  Cycle  household  debt  private  debt  economic  history  KennethRogoff  carmenreinhart  Greenspan-Put  ZIRP  NIRP  QE  margin  trading  margin  debt  asset  liquidity  economic  damage  asset  bubble  asset  allocation  distortion  behavioral  economics  behavioral  finance  mortgage  market  UK  credit  card  housing  market  property  bubble  Funding  for  Lending  Scheme  Help  to  Buy  Scheme  fiscal  policy  monetary  policy  macroprudential  policy  sustainability  sustainable  NPL  zombie  banks  zombie  consumer  economic  model  economic  irrational  exuberance  macroeconomic  policy  economic  growth  debt  monetisation  reflation  debt  monetization  consumerist  consumerism  consumer  confidence  business  confidence  business  financial  financial  crisis  GFC  balance  sheet  recession  Richard  Koo  deleveraging  baddebt  non-performing  loan 
july 2015 by asterisk2a
Mark Carney indicates that interest rates may rise this year - BBC News
>> uk is as USA, consumer dependent // bbc.in/1M8GM3L - 2% in two years - inflation targeting, slack in economy drag on rising cost, ... // looks forward how inflation looks at the turn of the year! as commodity price drop gets out of calculation y/y. // &! http://www.bbc.co.uk/news/business-33560035
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july 2015 by asterisk2a
The escape from the balance sheet recession and the QE trap: An interview with Richard Koo - YouTube
"deflationary" is a symptom of balance sheet recession, deleveraging, debtoverhang ... of the private sector, corporate sector (& public gov sector) (to repair balance sheet). inflation of price of goods 2 live is still existent. you cant eat laptops. inflation is still present. actions of private sector, corporate sector to repair balance sheet (and even public sector, all three together) is deflationary. // UK! interesting is that consumer still borrows ie via credit card and mortgages. // question is how long UK can run such a big current account deficit. somebody has to pay for it, if not the gov with debt, then it has to be the private sector. as long as it can serve debt payments, as long as it has wage growth (increase of productivity, closing of output gap). But job creation during recovery was mostly Service Sector Jobs & self-employment. Not added value STEM. // corporate sector will not, in the long-run, pay for current account deficit w debt. &! youtu.be/EhYvaMc3f44
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july 2015 by asterisk2a
▶ BBC One - Rooms, Rogues and Renters, The boom in 'speed flat mating'
boom in investment property by super rich from across the world pushing up prices plus the lack of new construction. [...] The average Londoner is now spending more than half their take-home pay on their rent, leading to fears that many are ending up in homes which are not fit for purpose. - http://www.bbc.co.uk/news/uk-england-london-32082390 http://www.bbc.co.uk/programmes/b05nv2zw http://www.bbc.co.uk/news/business-23234033 http://www.bbc.co.uk/news/election-2015-31537747 // Londons & SF loving cost become a disadvantage for any kind of Start-up, whether funded to tunes of millions in an A Round or 100 million for the unicorn. // www.generationrent.org
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march 2015 by asterisk2a
BBC News - Westminster: Where houses earn more than people
Members of Parliament heading home are greeted by a poster at the tube station that reads "£30,000 wouldn't even buy you floor space the size of this poster in Westminster". It is a graphic reminder of the affordability crisis affecting housing in London and the South East - a disparity that has turned home owners in the region into lottery winners while those not on the property ladder are denied a roof over their head. Research by the National Housing Federation to mark the Homes for Britain rally on Tuesday reveals that property values in England increased by £289 billion in the first three years of the current government, but £282 billion of that wealth growth (97%) took place in the capital and the South East. [...] In a sense, the housing crisis plays into that wider public view that Londoners, and in particular the 'Westminster-elite', are coining it - while the rest of the country struggles to pay the electricity and gas bills.
UK  property  bubble  London  affordable  housing  housing  market  distortion  mortgage  market  ZIRP  NIRP  macroprudential  policy  asset  bubble  inequality  Gini  coefficient  Buy  to  Rent  Help  to  Buy  Scheme 
march 2015 by asterisk2a
Autumn Statement 2014: Osborne's Cuts 'Will See Public Spending Fall To Lowest Level In 80 Years'
Tony Dolphin, senior economist at the Institute for Public Policy and Research, warned that Osborne's planned cuts were "implausible". "Given the scale of cuts in the public sector, [the OBR] can only make its growth forecast add up by assuming that consumer demand is boosted by households taking on more debt - and at an unprecedented pace. "Extraordinarily, the OBR thinks that by 2019 the household sector will have a financial deficit twice as big as in 2007 and 2008 when the financial crisis hit. As result, the household debt-to-income ratio is forecast 2 rise beyond its pre-crisis peak 2 over 180%. "This is pretty implausible. If the next government tries 2 follow the deficit reduction path set out in the Autumn Statement, it can only succeed in the short-term because the household sector takes on debt @ a faster pace than it did before the financial crisis. [this warning was heeded some years ago alrdy that consumer&corp would have to take on debt to spend to keep GDP # up!!!]
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december 2014 by asterisk2a
BBC News - Long, long slog to mend public finances
So the job of mending the public finances is a long way from over. The best performing, big developed economy in the world - that's us by the way, as assessed by speed of GDP growth - is generating far less tax than expected. So this year, the Office for Budget Responsibility expects the harvest for the Exchequer from taxation to be £7.8bn less than it predicted in March. And by 2017-18, it says the shortfall will be an eye-watering £21bn. & the biggest shortfall, roughly half of it, is in income tax, which reflects the creation of lots of new low wage jobs & the absence of meaningful pay rises for millions. [...] reflecting a change in the structure of the economy, rather than a passing phenomenon. [AUSTERITY] The OBR calculates that spending per head in real terms in 2019/20 on the public sector minus health and schools would be £1,290, or 57% less than in 2009/10. [... edu & industrial policy not straight ahead towards econ of the future ...] [in this together?] &! bbc.in/1tqUjGz
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december 2014 by asterisk2a
David Blanchflower: Do not be fooled – growth and living standards under the Coalition have still been abysmal - David Blanchflower - Business Comment - The Independent
Over the entire six-year period [ 2009 - 2013] real earnings in the UK fell by 6.5 per cent, and by 5.9 per cent between 2010 and 2012, and only Greece (minus 23 per cent) was lower. Real earnings growth was positive over this entire period in France (+5 per cent); Germany (+4 per cent); Japan (+1 per cent) and the US (+1 per cent).
greatrecession  UK  GFC  output  gap  productivity  stagflation  secular  stagnation  austerity  fiscal  policy  monetary  policy  Funding  for  Lending  Scheme  monetary  transmission  mechanism  property  bubble  indusrty  London  finance  zombie  banks  zombie  consumer  sovereign  debt  crisis  debtoverhang  deleveraging  balance  sheet  recession  lost  decade  lost  generation  George  Osborne  David  Cameron  No  Representation  Help  to  Buy  Scheme  Supply  and  Demand  Demand  and  Supply  living  standard  working  poor  squeezed  middle  class  class  warfare  Toff  private  education  OECD  BOE  unconventional  monetary  policy  macroprudential  policy  education  policy  Public  economies  of  agglomeration  economic  history  Mark  Carney 
september 2014 by asterisk2a
BBC News - UK house prices see 10.2% annual rise, says the Halifax
'Upward trend' This is the first time since September 2007 that the annual change has gone above 10%, according to the Halifax. It accelerated from an 8.8% rise in June. "While supply remains low, housing demand continues to be supported by a continuing economic recovery, growth in employment, improving consumer confidence and low mortgage rates," said Stephen Noakes, mortgages director at the Halifax.
UK  housing  market  housemarket  property  bubble  Supply  and  Demand  Demand  and  Supply  ZIRP  NIRP  asset  bubble  speculative  bubbles  Buy  to  Rent  hunt  for  yield  macroprudential  policy  Help  to  Buy  Scheme  David  Cameron  Career  Politicians  general  election  2015  austerity  unintended  consequences  household  debt  zombie  consumer  BOE  fiscal  policy  monetary  policy  faultlines  structural  imbalance 
august 2014 by asterisk2a
Bank of England’s 'slack' approach leaves economy at risk - Telegraph
There were 115,000 UK housing completions in 2013, almost a record peacetime low, compared with the 240,000 new homes needed each year just to meet the rise in household numbers hard-wired into our demography. This disgraceful shortage, and the government’s now long-past-its-sell-by-date Help-to-Buy scheme, is the reason prices are up 9.1pc across the UK over the last year and 17.1pc higher in London. And where house price inflation goes, economy-wide inflation eventually follows. While agreeing with Carney’s house-building analysis, I don’t agree the Bank can’t do more to rein in a market now in danger of spiralling out of control. [...] [A] development we’ll live to regret. +++ IMF warns UK government over housing bubble risk --- http://www.bbc.co.uk/news/business-27731567 +++ PRODUCTIVITY REMAINS WEAK. << skill-biased technological change, capital skills, skill, skills, knowledge worker, White-collar Worker, Blue-collar Worker, workforce, Mobile Creative, Mobile Creatives,
property  bubble  asset  bubble  hunt  for  yield  Help  to  Buy  Scheme  Funding  for  Lending  Scheme  Mark  Carney  BOE  macroprudential  policy  macroeconomic  policy  microeconomic  policy  monetary  policy  monetary  stimulus  fiscal  policy  GeorgeOsborne  David  Cameron  George  Osborne  2014  2015  general  election  2015  UK  unintended  consequences  unknown  unknowns  IMF  Structural  Impediments  imbalance  Supply  and  Demand  Demand  and  Supply  productivity  skill-biased  technological  change  capital  skills  skill  skills  knowledge  worker  White-collar  Blue-collar  workforce  Mobile  Creative  Mobile  Creatives  globalisation  globalization  Why  Software  Is  Eating  the  World  Software  Is  Eating  World  World  Flat  competitive  advantage  competitive  competitiveness  comparative-advantage  comparative  advantage  Year  of  Code  practical  skill  set  practical  skills 
june 2014 by asterisk2a
BBC News - UK house prices up 8% in a year, says ONS
UK house prices rose by 8% in the year to the end of March, official figures show, as the prime minister says he will consider changes to Help to Buy. The annual increase slowed compared with a 9.2% year-on-year price rise to the end of February. However, the latest official data from the Office for National Statistics (ONS) showed that the annual property price increase in London stood at 17%. + http://qz.com/211695/why-house-prices-are-a-problem-for-the-government-not-central-banks/
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may 2014 by asterisk2a
The Bank of England cannot fine-tune house prices - Telegraph
a home is not an investment asset. or something to buy for your 'diversified' pension pot. + http://www.bbc.co.uk/news/uk-scotland-scotland-business-27312876 - The Scottish housing market continues to be "marred" by weak supply and high demand, according to surveyors. + // http://www.cnbc.com/id/101653695
UK  2014  property  bubble  asset  bubble  Mark  Carney  fiscal  policy  monetary  policy  BOE  Funding  for  Lending  Scheme  Help  to  Buy  Scheme  Supply  and  Demand  policy  folly  policy  error  public  policy  Career  Politicians  unintended  consequences  inequality  Gini  coefficient  living  standard  post-recession  housing  market  mortgage  market  ZIRP  hunt  for  yield  QE  NIRP  wage  stagnation  living  wage  democracy  Millennials  zombie  consumer  Consumerism  consumerist  consumer  debt  Super  Cycle  generationy  unfair  babyboomers  ethics  morals  morality  GFC 
may 2014 by asterisk2a
British austerity is no model for the rest of the world - FT.com
the pace of fiscal contraction has slowed over the past two years. This means that the brake on growth caused by fiscal policy is becoming more attenuated. So the turnround in growth over the past 18 months is as much evidence against austerity as it is pro-austerity. Second, faced with the potential damage caused by the deficit reduction to demand and economic growth, the UK government has been forced to introduce a number of extraordinary measures to support lending. [...] It certainly should not, however, be seen as any kind of inspiration to other companies or countries. + http://www.telegraph.co.uk/finance/economics/10807988/Rapid-rate-rises-could-throw-UK-back-into-recession.html
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may 2014 by asterisk2a
Amazingly, London’s property boom may still have years to run - Quartz
Housing shortage. ( Supply ) Period. + British unemployment fell to a five-year low - + mortage market may come under pressure when ZIRP ends and the zombie consumer can't server the rising interest payments.
UK  recovery  2014  Help  to  Buy  Scheme  QE  BOE  Funding  for  Lending  Scheme  ZIRP  Mark  Carney  monetary  transmission  mechanism  unconventional  monetary  policy  monetary  policy  property  bubble  Supply  and  Demand  mortgage  market  zombie  consumer  Consumerism  consumerist  consumer  debt  Super  Cycle  austerity  GeorgeOsborne  davidcameron 
may 2014 by asterisk2a
Joe Gebbia - The Airbnb Story - YouTube
AirBnB is the ebay for places and experiences. Sharing is caring - you space. This kindness to open up you personal space to strangers ... magical moments can happen. Stories are written. Lives are changed. Still there is the 80/20 - there will always be bad eggs, say bad customers. And because national travel is vry affordable and people want to escape their walls on the weekend if they could afford and its users use it for niche items/services >> providing accommodation for events. Staying in someones place is very different than a hotel. a hotel is generic. every AirBnB is different. It is an experience. not only might you experience a new city, but you also experience someones life, how he or she or they live. Their view. Plus - this is the time of the Airbnb - experience services - because millennials favour experiences of commoditised consumer goods. and babyboomers want that cake too because of the youthification trend. only retrospective u see the pieces of the puzzle.
Airbnb  social  society  social  science  social  study  experience  user  experience  sharing  sharing  is  caring  service  economy  9flats  Start-Up  Y  combinator  citybreak  travel  traveling  B2C  marketing  viral  creating  markets  blue  ocean  strategy  disruption  disrupting  markets  accomodation  accomodation  business  hotel  business  Bed  &  Breakfast  vacation  niche  creativity  creative  destruction  creative  value  creation  differentiation  differentiate  civic  life  life  hacker  western  lifestyle  lifehacks  work  life  balance  lifestyle  active  lifestyle  generationy  Millennials  commoditization  accommodation  commodity  business  focus  group  youthification  babyboomers  Consumerism  consumerist  word  of  mouth  network  effect  hospitality  business  sharing  economy  asking  for  help  economy  generosity  generous  society 
april 2014 by asterisk2a
Chris Cook crunches the numbers - Newsnight - YouTube
what if current productivity numbers are - as good as it gets. and the productivity high from 2006-7-8 was hugely inflated by london, super rich, banking and financial services industry!? thus what if we are running currently at full speed possible although it looks (in comparison to 06/07/08 slower) so slow. thus ... austerity needs to go on for much longer to eliminate budget deficit and possibility of inflation and wage inflation spiral is nearer to the horizon than what the BOE (with its ZIRP and QE policy) has it scheduled to arrive and thus then forced to hike rates earlier than though and debt servicing will be more expensive ... for gov and debt holder and mortgage holders.
UK  budget2014  budget  budget  deficit  GeorgeOsborne  davidcameron  recovery  2014  economic  history  academia  academics  output-gap  output  gap  Productivity  unemployment  Structural  Impediments  unemployment  imbalance  faultlines  BOE  fiscal  policy  monetary  policy  unknown  unkown  unintended  consequences  ZIRP  QE  Help  to  Buy  Scheme  Funding  for  Lending  Scheme  mortgage  market  speculative  bubbles  asset  bubble  bond  bubble  property  bubble 
march 2014 by asterisk2a
BBC News - Many Britons 'fear mortgage arrears'
Campbell Robb, chief executive of Shelter, which helps a million people a year with housing problems, said that despite recent discussion of an economic recovery, a combination of high housing costs, wage freezes, and rising food and energy bills had created a "nightmare scenario" for many families. He said: "It's a worrying sign of the times that so many are starting the New Year worried about how they'll pay their rent or mortgage in 2014. "Unless they get help, some of the families struggling now could face the very real prospect of losing their home this year."
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january 2014 by asterisk2a
OECD Warns UK Faces Housing Bubble | Zero Hedge
The Great House Price Bubble? - http://www.bbc.co.uk/programmes/b03j0nw1 + http://www.zerohedge.com/news/2013-09-13/uk-realtors-ask-central-bank-halt-housing-bubble " Estate agents and surveyors have become so concerned about the dangers of another unsustainable housing boom that their trade body is urging the Bank of England to limit national house price growth to 5 per cent a year. " ... same in Germany's Cities.
property  bubble  UK  demand  and  supply  supply-demand  Funding  for  Lending  Scheme  Help  to  Buy  Scheme  Politics  GeorgeOsborne  davidcameron  2013  policy  folly  policy  error  Germany  speculative  bubbles  asset  bubble  bubble  unintended  consequences  ZIRP  QE  NIRP  negative  real  interest  rate  monetary  policy  BOE  ECB 
november 2013 by asterisk2a
▶ Help to Buy sparks supply and demand fears - YouTube
UK's property market is the most unappetizing one around Europe. Too prizy for shitty weather. Then the prize of mortages are cheap because of ZIRP ... once rate rise in 3-5 years ... people on median income who wouldn't have been able to afford one otherwise can't afford one now - when rate rise. peoples houses get repossessed and gov with the scheme (gov guarantees 15% of the loan) is having to pay part of the bill. George Bush did the same in his first year as President - subprime was the result.
state  guarantee  Repossession  Career  Politicians  2013  incentive  economic  history  demand  and  supply  fiscal  policy  property  bubble  UK  loan-guarantee  political  error  fiscal  stimulus  and  Help  to  Buy  Scheme  davidcameron  political  folly  financial  incentive  guarantees  subsidies  GeorgeOsborne  policy  error  subsidizing  policy  folly 
october 2013 by asterisk2a
Five Years After Lehman, BIS Ex-Chief Economist Warns "It's Worse This Time" | Zero Hedge
The share of "leveraged loans" or extreme forms of credit risk, used by the poorest corporate borrowers, has soared to an all-time high of 45% - 10 percentage points higher than at the peak of the crisis in 2007. + http://www.zerohedge.com/news/2013-09-14/record-high-grade-leverage-means-pik-toggle-lbo-debt-back-and-worse-ever // The Bank Of International Settlements Warns The Monetary Kool-Aid Party Is Over www.zerohedge.com/news/2013-06-23/bank-international-settlements-warns-monetary-kool-aid-party-over ""central banks must head for the exit and stop trying to spur a global economic recovery... cheap and plentiful central bank money had merely bought time, warning that more bond buying would retard the global economy’s return to health by delaying adjustments to governments’ and households’ balance sheets." http://www.telegraph.co.uk/finance/10310598/BIS-veteran-says-global-credit-excess-worse-than-pre-Lehman.html
unemployment  employment  monetary  policy  Mark  Carney  ope  reflation  zombie  banks  monetary  transmission  mechanism  BOE  banking  crisis  carmenreinhart  BOJ  LBO  balancesheet  policy  folly  QE  liquidity  2013  fiscal  policy  UK  debt  monetisation  political  error  unknown  unkown  greatdepression  zombie  consumer  deleveraging  debt  monetization  Richardkoo  centralbanks  liberal  economic  reform  faultlines  GFC  monetary  theory  exuberance  MarioDraghi  unintended  consequences  global  economy  monetary  stimulus  Help  to  Buy  Scheme  liquidity-trap  zombie  corporations  ECB  monetary  system  political  folly  benbernanke  bank  crisis  Abenomics  rebalancing  China  greatrecession  policy  error  productivity  LTRO  NIRP  OMT  Fed  communication  economic  history  Super  Cycle  stagflation  leverage  KennethRogoff  sovereign  debt  crisis  recovery  unconventional  monetary  policy  ZIRP  USA  BIS  POMO  Funding  for  Lending  Scheme  corporate  governance  fiscal  deficit 
september 2013 by asterisk2a
BBC News - Bank of England must limit house price booms, says Rics
The Bank said it was being vigilant. - http://www.zerohedge.com/news/2013-09-13/uk-realtors-ask-central-bank-halt-housing-bubble // "The Bank of England now has the ability to take the froth out of future housing market booms, without having to resort to interest rate increases," is the way the UK's realtor association explains their demand that the BoE limit national house price growth to 5% a year. While they would benefit from short-term gains, it seems the Royal Institution of Chartered Surveyors (RICS) sees the dangers of another unsustainable housing boom outweigh them.
monetary  policy  Politics  asset  bubble  unintended  consequences  zombie  banks  Help  to  Buy  Scheme  monetary  transmission  mechanism  liquidity-trap  davidcameron  BOE  political  folly  policy  error  policy  folly  debtoverhang  QE  NIRP  2013  communication  fiscal  policy  Debt  Super  Cycle  property  bubble  UK  monetisation  bubble  political  error  sovereign  crisis  ZIRP  zombie  consumer  deleveraging  inflation  expectation  subsidies  Funding  for  Lending  Scheme  monetization  GeorgeOsborne  subsidizing  balance  sheet  recession 
september 2013 by asterisk2a
▶ Reuters Breakingviews: UK inflation an embarrassment to BoE - YouTube
Mark Carney left CAD with house price bubble Mark Carney ignores house price bubble and impending doom of too much debt when interest rates wise - one or the other way.
unemployment  monetary  policy  Politics  asset  bubble  monetary  theory  unintended  consequences  Help  to  Buy  Scheme  davidcameron  EPS  BOE  monetary  system  political  folly  policy  error  policy  folly  2013  short-term  thinking  Debt  Super  Cycle  stagflation  property  bubble  UK  political  error  bubble  sovereign  crisis  dividends  austerity  WallStreet  zombie  consumer  inflation  Funding  for  Lending  Scheme  GeorgeOsborne 
august 2013 by asterisk2a
Silly Season news | ForexLive
Put bluntly, we now have a potentially dangerous financial structure which encourages borrowing, and discourages saving. The rush to create growth has thrown to one side any inflation concerns - for now. BUT there will be an election in 2015 – at the latest. Should the forward guidance prove accurate, we will enter the build up to that election with continued low interest rates, rising house prices and a positive growth outlook – fertile ground for a Conservative Party overall majority. HOWEVER, should inflation or employment become at odds with the strategy, Mr Carney may be under a lot of pressure to prove his neutrality by tightening in the run up to that election – and as I know, what is least convenient is likely to happen…. + http://www.forexlive.com/blog/2013/08/12/uk-home-buyers-boost-purchases/ - Debt Fueled Recovery.
QE  NIRP  unemployment  monetary  policy  Mark  Carney  Debt  Super  Cycle  property  bubble  stagflation  UK  unintended  consequences  Help  to  Buy  Scheme  ZIRP  austerity  davidcameron  BOE  greatdepression  MPC  zombie  consumer  inflation  Funding  for  Lending  Scheme  GeorgeOsborne  greatrecession 
august 2013 by asterisk2a
Cash in as our desperate government inflates a new housing bubble - MoneyWeekMoneyWeek
So if prices are going up, people think that their situation is improving. Happy families make happy voters – and happy voters vote for the party in power. That’s why a massive mortgage subsidy scheme – Help to Buy – has been thrust upon us. And it seems to be working. Prices and sales are rising. [...] Trouble is, interest rates right now are at or near record lows. So mortgage servicing costs are only likely to rise. Ironically enough, it could be an economic recovery that does the damage: a recovery would result in higher rates, pushing mortgage payments up, and making many loans unaffordable. [...] As long as things look good come May 2015, it will happily ignore any potential collateral damage. And the scheme has had an almost-immediate impact. Formally launched in this year’s budget in April, it has already seen sales of new homes surge. The government now plans to expand it from next year.
state  guarantee  microeconomic  policy  2013  Politics  microeconomics  fiscal  policy  property  bubble  UK  unintended  consequences  loan-guarantee  Help  to  Buy  Scheme  collateral  damage  davidcameron  subsidies  guarantees  Funding  for  Lending  Scheme  GeorgeOsborne  subsidizing 
august 2013 by asterisk2a
Sir Mervyn King issues Help to Buy mortgage warning
The outgoing Bank of England governor warns a government plan to boost the housing market with part-mortgage guarantees has no long-term place. >> http://www.youtube.com/watch?v=2_gEzqfRltw - facilitating even more an unequal society. Political Voter Move.
QE  debtoverhang  NIRP  monetary  policy  2013  fiscal  policy  property  bubble  UK  reflation  Help  to  Buy  Scheme  bubble  ZIRP  BOE  greatdepression  deleveraging  MervynKing  Funding  for  Lending  Scheme  GeorgeOsborne  greatrecession  balance  sheet  recession 
may 2013 by asterisk2a

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