asterisk2a + macroprudential   67

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
Yanis Varoufakis: »MONEY AND POWER«, Public Lecture 2015-11-04
3rd bailout loan $0 went to Greece. All to pay off banks. extend & pretend. 1st: ~90% went to the banks. [...] ESM does not exist [...] banking union plan not progressing at all. //&! Yanis Varoufakis @Oxford Union - youtu.be/zWB6lY2GBjQ - ACADEMIA LACKS ANTI-ESTABLISHMENT ATTITUDE! Because going against the grain has become anti-reputation. [...] it's all about expectations, predictions about where S&P500 will be in 12 months. [...] regression between theory and reality. economists have never been humble. [ see Wall Street cottage factory of analysis and prediction shops ] [...] if you torture the data and model enough it will confess. [< EU monetary union based on theory ] [...] [34:00] Brussels is technically incompetent and will not reform itself. I am a libertarian marxist. Schumpeter. true creative destruction. great wealth currently created - all going to 1%. = not humanitarian. not democratic. [...] 41:00 Q&A, <48:50> gov budget not same as household budget; George Osborne.
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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
Mervyn King: new financial crisis is 'certain' without reform of banks | Business | The Guardian
The former Bank of England governor says in his new book that imbalances in the global economy makes a crash inevitable [...] GFC was the fault of the financial system, not individual greedy bankers, in his new book, The End Of Alchemy: Money, Banking And The Future Of The Global Economy [...] “Without reform of the financial system, another crisis is certain, and the failure ... to tackle the disequilibrium in the world economy makes it likely that it will come sooner rather than later,” Lord King wrote. [...] global central banks were caught in a “prisoner’s dilemma” - unable to raise interest rates for fear of stifling the economic recovery, the newspaper reported. [... blame] broken financial system. [...] failure of a system, and the ideas that underpinned it, [...] “Only a fundamental rethink of how we, as a society, organise our system of money and banking will prevent a repetition //&! dailym.ai/21tPG5y
bank  crisis  banking  crisis  investment  banking  self-regulation  retail  banking  Greed  financial  product  regulation  regulators  City  of  London  George  Osborne  Mark  Carney  macroprudential  policy  property  bubble  austerity  liquidity  trap  secular  stagnation  job  creation  Service  Sector  Jobs  economic  history  GFC  neoliberalism  neoliberal  trickle-down  economics  free  market  ZIRP  NIRP  QE  faultlines  hot-money  hunt  for  yield  distortion  financial  repression  emerging  middle  class  emerging  market  Frontier  Markets  BRIC  China  Brazil  credit  bubble  2016  reflate  reflation  junk  bond  revolving  debt  household  debt  mortgage  market  consumer  debt  UK  IMF  OECD  credit  card  debt  car  loan  BOE  MervynKing  ECB  Fed  Europe  deflationary  deflation  Gini  coefficient  inequality  MarioDraghi  Taper  QT  bonuses  bonus  global  imbalances  structural  imbalance  Career  Politicians  lobbyist  lobby  Lobbying  revolving  door  New  Normal  speculative  bubbles  Richard  Koo  Fiscal  Pact  Schuldenbremse 
february 2016 by asterisk2a
Five issues that will shape the Northern Powerhouse - BBC News
[ white elephant! lol & the double standard of Google paying 2% tax vs small businesses full 18%+ and not getting investment, R&D loans ] Will Hull thrive or suffer if transport is radically improved to the eastern fringe of the Powerhouse? There's no way of telling. Some people think investment in skills, education and training would be a more certain way of improving productivity - and business leaders are keen to ensure that these key elements are not forgotten in the rush for steel and tarmac. I asked former CBI director-general John Cridland, who is now head of Transport for the North, if there was any certainty that spending billions on infrastructure would improve productivity. He agreed there was no proof, but urged people to take a leap of faith - like the Victorian engineers.
STEM  skills  gap  practical  skills  apprenticeships  underinvestment  productive  investment  Northern  Powerhouse  UK  George  Osborne  David  Cameron  productivity  output  gap  recovery  carbon  tax  renewable  energy  competitiveness  competitive  industrial  policy  Germany  corporate  tax  rate  tax  evasion  tax  avoidance  conglomerate  multinational  HMRC  budget  deficit  dogma  ideology  austerity  squeezed  middle  class  job  creation  Service  Sector  Jobs  added  value  value  creation  economic  history  property  bubble  distortion  HS2  Hinkley  Point  C  HS3  infrastructure  investment  infrastructure  macroeconomic  policy  macroprudential  policy  zombie  banks  BOE  Funding  for  Lending  Scheme  Mark  Carney 
february 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
What Really Caused the Crisis and What to Do About It - YouTube
"There are not perfect markets, and there is no perfect planner. [...] we will never arrive at perfect solutions. [...] market will never allocate perfectly ... [...] market will always tend to lend to property and land, and less into productive means (businesses = risk of 100 loss, land or property ... you have a loss when you sell it. << China, UK ) [...] not all credit is good credit. [...] need for macroprudential policy to dampen bubbles bc rate hikes could dampen normal non-speculative area of economy. ie loan to value limits [...] interest rate setting is blunt hammer that people though is the magic wand along the line of self-regulation, free market, neoliberalism and trickle-down [...] GFC can be traced back to the 60-70's - macroecon + micro with absurd assumptions (ie rational expectations, equilibriums, no bubbles) & math & pure theoretical base (no empirical analysis ie of what banks really do ie greed) = makes job of economist as policy advisor real easy.
bank  crisis  JohnMaynardKeynes  keynes  Keynesianism  book  Richard  Koo  aggregate  demand  austerity  liquidity  trap  deleveraging  balance  sheet  recession  debtoverhang  GFC  recovery  secular  stagnation  western  world  dogma  ideology  underinvestment  productive  investment  infrastructure  investment  monetary  policy  monetary  theory  trickle-down  economics  neoliberalism  neoliberal  budget  deficit  economic  history  credit  bubble  output  gap  productivity  inflation  targeting  nominal  GDP  targeting  asset  allocation  economics  investment  banking  zombie  banks  retail  banking  financial  product  CDS  CDO  hunt  for  yield  VAR  risk  aversion  deflationary  deflation  ZIRP  NIRP  QE  debt  monetisation  debt  monetization  Glass-Steagall  self-regulation  regulators  regulation  leverage  margin  trading  property  bubble  arbitrage  speculative  bubbles  asset  bubble  UK  USA  Europe  ECB  Fed  BOE  zombie  consumer  squeezed  middle  class  zombie  corporations  NPL  junk  bond  realestate  macroprudential  policy  mortgage  market  equilibrium  disequilibrium  Economist  economists  Adair  Turner  hayek 
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
Beware the Minuses of Negative Interest Rates
Whether sub-zero interest rates actually work is open to debate, however. So says Richard Koo, the chief economist of the Nomura Research Institute. “In my view,” he writes, “the adoption of negative interest rates is an act of desperation born out of despair over the inability of quantitative easing and inflation targeting to produce the desired results.” The failure of the BOJ and the ECB to meet their inflation and growth goals is shared by the Federal Reserve and the Bank of England. None of these central banks understand that their textbook solutions don’t fit the real economy, Koo asserts. [...] And on a more practical level, why corporations sit on record hoards of cash (taxes aside). [<< macro prudential policy ] //&! “When no one is borrowing money, monetary policy is largely useless.” [...] Keynes was right and (Milton) Freidman was wrong. - bit.ly/1Kl07Ri & There is no Confidence Fairy //&! fam.ag/1ogOOiM & bit.ly/1LpJL4W & bit.ly/1VgSjAB & bit.ly/214Icm3 & bit.ly/1Kl228n
secular  stagnation  emerging  middle  class  demographic  bubble  ageing  population  western  world  ZIRP  NIRP  QE  distortion  liquidity  trap  New  Normal  financial  repression  GFC  economic  history  Richard  Koo  consumer  debt  squeezed  middle  class  household  debt  credit  card  debt  car  loan  business  confidence  consumer  confidence  student  loan  debt  student  loan  Super  Cycle  debt  servitude  mortgage  market  asset  bubble  speculative  bubbles  hunt  for  yield  hot-money  equity  bubble  bond  bubble  property  bubble  credit  bubble  BRIC  China  student  debt  disposable  income  discretionary  spending  Frontier  Markets  emerging  market  UK  USA  Europe  Japan  Abenomics  Niall  Ferguson  Paul  Krugman  Joseph  Stiglitz  Gini  coefficient  inequality  income  inequality  income  distribution  income  mobility  wage  stagnation  income  growth  tax  evasion  tax  avoidance  Wall  Street  profit  maximisation  shareholder  value  underinvestment  austerity  productivity  output  gap  public  investment  productive  investment  infrastructure  investment  business  investment  STEM  R&D  competitiveness  Robert  Reich  balance  sheet  recession  deleveraging  debtoverhang  zombie  banks  zombie  corporations  zombie  consumer  macroprudential  policy  miltonfriedman  JohnMaynardKeynes  keynes  Keynesianism  Fiscal  Pact  policy  monetary  policy  Schuldenbremse  unconventional  monetary  policy  QT  Taper  money  supply  money  ve 
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
Norway seeks to diversify its economy as oil earnings plunge - BBC News
As oil prices have collapsed, it's become clear that Norway has caught what used to be called the Dutch disease - an overreliance on one industry, in this case the oil and gas sector. With its upmarket waterfront restaurants and the Barcode office blocks, the Sorenga dockside development serves as a poignant reminder of how prosperous Norway had become while the going was still good. [...] Unbalanced economy [...] "The oil and gas industry became too strong in our economy, especially during the last four or five years, reflects Prime Minister Erna Solberg. "Most of the growth came from that sector, and our strong currency left some of our traditional industries behind." [...] Household debts have reached more than 200% of annual disposable income [ Dutch Disease; UK & USA = domestic consumption, Germany = exports and its name, London = Finance and wealthy expats/non-doms, Switzerland = exports and its name , China = export, Brazil = commodity export ]
Norway  Aberdeen  Oil  price  commodity  prices  secular  stagnation  2016  2015  credit  bubble  China  BRIC  economic  history  reflate  reflation  QE  ZIRP  NIRP  aggregate  demand  Dutch  Disease  distortion  financial  repression  macroeconomics  macroeconomic  policy  macroprudential  policy  microeconomic  policy  unemployment  OPEC 
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
Elektroauto: Sonderabgabe auf Sprit soll Kaufprämie finanzieren - SPIEGEL ONLINE
In den Regierungsstreit über eine Kaufprämie für Elektroautos mischt sich der Chef der Nationalen Plattform Elektromobilität ein. Henning Kagermann will den Bonus unbedingt - zulasten von allen anderen Autofahrern. //&! Ab 2021 dürfen Neuwagen in der EU nicht mehr als 4,1 Liter Benzin im Schnitt verbrauchen. Doch besonders die deutschen Hersteller tun sich laut einer Untersuchung mit den Vorgaben schwer. Schuld daran hat ein Trend, den sie jahrelang selbst befeuert haben. - bit.ly/1nT3mFF //&! LOBBYING EFFORTS STILL ON! - Ab 2017 werden die Abgaswerte von Dieselfahrzeugen unter Realbedingungen gemessen. Das EU-Parlament hat für einen entsprechenden Entwurf gestimmt. Gleichzeitig winkten die Abgeordneten Zugeständnisse an die Autohersteller durch. - bit.ly/1QiXxrA
carbon  tax  autoindustry  automotive  fossil  fuel  renewable  energy  electric  car  carbonfootprint  carbon  trading  scheme  carbonemission  consumer  choice  subsidies  subsidizing  macroprudential  policy  microeconomic  policy  macroeconomic  policy  Makers  COP21  climate  change  global  warming  climate  crisis  air  pollution  efficiency  energy  efficiency  Smart  Grid  energy  storage  SUV  status  symbol  zombie  consumer  Abgas-Affäre  oversight  transparency  accountability  Wall  Street  shareholder  value  profit  maximisation 
february 2016 by asterisk2a
Christine Lagarde: Housing is key issue for security of UK economy - BBC News
The UK's recent growth, employment progress and deficit reduction have been "strong", the International Monetary Fund (IMF) has said. Underlying economic vulnerabilities, including the supply and demand for housing, have been addressed and steady growth looks set to continue, it said. The IMF's Christine Lagarde said there were still some risks.
UK  Housing  Crisis  property  bubble  generation  rent  speculative  bubbles  Buy  to  macroprudential  policy  fiscal  policy  planning  law  monetary  policy  mortgage  market  austerity  budget  deficit  neoliberalism  IMF  OECD  neoliberal  trickle-down  economics  economic  history  ChristineLagarde  Privatisation  affordable  social  discretionary  spending  disposable  income  consumer  debt  household  debt  credit  card  debt  car  loan  secular  stagnation  wage  stagnation  squeezed  middle  class  Precariat  working  poor  job  creation  Service  Sector  Jobs  low  pay  minimum  wage  low  income  Zero  Hour  Contract  part-time  Contractor  recovery  productivity  output  gap  credit  bubble  debt  servitude  debtoverhang  liquidity  trap  Richard  Koo 
february 2016 by asterisk2a
Pando: Sources: Vegas-based Work In Progress co-work space is shutting its doors
Organic is better is more sustainable // Vegas Downtown Project // have a framework (macroprudential policy), but don't pick winners, cities, regions, ... roundabouts. // semiconductor boom bust in scotland, outside glasgow, area - via tax breaks (ie IBM spango vallye)
free  market  Venture  Capital  subsidies  subsidizing  corporate  welfare  Silicon  Valley  Vegas  Downtown  Project  Berlin  Start-Up  Scene  Los  Angeles  Start-Up  Scene  New  York  Start-Up  Scene  Silicon  Alley  economic  history  fossil  fuel  renewable  energy  carbon  tax  carbon  trading  scheme  carbonfootprint  carbonemission  tax  code  fiscal  policy  industrial  policy  job  creation  STEM  Manufacturing  dogma  trickle-down  economics  neoliberalism  neoliberal  Career  Politicians  No  Representation  short-termism  Opportunism  opportunist  microeconomic  policy  macroprudential  policy  macroeconomic  policy  intellectual  property  IP  progressive  tax  code  tax  evasion  tax  avoidance  democracy  social  democracy  fairness 
february 2016 by asterisk2a
Fred Block: The Tenacity of the Free Market Ideology - YouTube
Fred Block discusses his book “The Power of Market Fundamentalism,” which extends the work of the great political economist Karl Polanyi to explain why free market dogma recovered from disrepute after the Great Depression and World War II to become the dominant economic ideology of our time. // wo state role there would be no market system. // need social democracy in complex diverse society - representing people // freedom in complex diverse society = free of hunger and economic uncertain & freedom of nonconformity - protections, no marginalisation, no economic punishment // social democracy and free market are both Utopias // Thatcher & Co blaming State for malaise! nobody likes technocratic arguments, leaves public out, thus was able to make big return. // wealth creation through efficiency route takes more work and capital than predation (rentier/rent seeking) - ie relaxing fuel efficiency savings regulation for Detroit back in the days // trust that state can support innovation
economic  history  freemarkets  free  market  neoliberalism  self-regulation  neoliberal  book  macroprudential  policy  macroeconomic  policy  microeconomic  policy  Chicago  School  USA  UK  social  democracy  capitalism  dogma  ideology  austerity  trickle-down  economics  globalization  globalisation  borderless  flat  world  Greed  boom  and  bust  crony  capitalism  plutocracy  oligarchy  Super  Rich  1%  democracy  revolving  door  Career  Politicians  No  Representation  social  mobility  American  Dream  meritocracy  meritocratic  Alain  de  Botton  philanthropy  profit  maximisation  shareholder  value  Wall  Street  Gini  coefficient  income  mobility  education  policy  welfare  state  social  safety  net  Supply  and  Demand  market  economy  Demand  and  Supply  JohnMaynardKeynes  keynes  Keynesianism  GFC  Great  Moderation  Great  Depression  Utopia  Ronald  Reagan  Margaret  Thatcher  rentier  rent-seeking  predation  financial  product  wealth  creation  R&D  STEM  productive  investment  productivity  output  gap  public  investment  underinvestment  infrastructure  investment  competitive  competitiveness  M&A 
january 2016 by asterisk2a
SPERI Annual Lecture 2015: 'The Failure of Austerity' by Lord Robert Skidelsky - YouTube
economic history - "state spending inherently unproductive." // borrowing is deferred taxation - David Richardo - Rational expectations. Market economy always tended full employment. // Theory and Facts did not align. Keynes realised it post-war. Private investment is inherently volatile, ie slump conditions. state to offset underinvestment of private sector and match their retreat. getting rid of abnormal unemployment. done through monetary expansion (QE) and put onto state balance sheet available to spend. // Where 2009 forward QE got to banks ... // Paul Krugman - Confidence Fairy. // "Look after employment, and the budget will look after itself." but today it's the bond holders confidence who shapes budgets. // Keynes 'it is the long-term confidence of businesses that shape investment, confidence in state to no let a slump happen again.' but austerity, out of ammo talk, political-, social environment/sentiment & Osborne's '2016 will be tough year' speech were counter-productive.
austerity  economic  history  Robert  Skidelsky  Richard  Koo  David  Ricardo  sovereign  debt  crisis  underinvestment  productive  investment  competitiveness  competitive  public  utility  public  investment  education  policy  public  transportation  Good  infrastructure  investment  QE  monetary  policy  fiscal  policy  George  Osborne  trickle-down  economics  tax  code  progressive  taxation  oligarchy  plutocracy  Super  Rich  1%  neoliberalism  neoliberal  Chicago  School  stagflation  secular  stagnation  Pact  business  cycle  business  confidence  consumer  confidence  Schuldenbremse  western  world  Paul  Krugman  political  folly  political  theory  political  economy  political  error  macroprudential  policy  macroeconomic  policy  microeconomic  policy  financial  cycle  Greed  economic  cycle  inflation  expectation  expectations  Super  debt  servitude  GFC  recovery  Conservative  Party  fearmongering  Fear  Career  Politicians  nasty  David  Cameron  PR  spin  doctor 
january 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
Economy concerns as household debt rises to £40bn in latest figures | Business | The Guardian
Families are expected to run up £40bn of debt this year, sparking fears about Britain’s economic recovery. [...] (OBR) forecasts have found that households have moved from a surplus of £67bn in 2010, the year the coalition took power, to a £40bn deficit this year. Unsustainable borrowing is on course to near the levels reached in the run-up to the 2008 financial crash, according to Labour. Seema Malhotra, the shadow chief secretary to the Treasury, said: “George Osborne is relying on millions of British families going further into debt to hit his growth targets. [ as projected by economists, that household had to take up debt, shifting debt burden off the public balance sheet, when austerity plans were revealed together with LibDems, to meet growth targets/estimates, back then. same w decistions to increase student loans, convert grants into loan ie for nursing, remove allowances and grants. same w the green bank. shifting items off the balance sheet. and underinvestment. ]
economic  growth  austerity  trickle-down  economics  underinvestment  George  Osborne  nasty  party  Tories  Conservative  neoliberalism  neoliberal  budget  deficit  Student  Maintenance  Grant  Education  Maintenance  Allowance  debt  loan  debt  loan  Student  Bubble  generation  rent  Generationengerechtigkeit  fairness  policy  Liberal  Democrats  household  debt  consumer  debt  squeezed  middle  class  working  poor  credit  card  debt  credit  card  car  loan  Precariat  precarious  work  child  tax  credit  working  tax  credit  tax  credit  wage  stagnation  income  growth  inequality  Gini  coefficient  rat  race  status  anxiety  status  symbol  debt  servitude  debtoverhang  sovereign  debt  crisis  Super  Cycle  ZIRP  NIRP  mortgage  market  property  hunt  for  yield  QE  New  Normal  macroprudential  policy  macroeconomic  policy  microeconomic  policy  debt  monetisation  debt  monetization  debt  private  debt  Privatisation 
december 2015 by asterisk2a
Sports Direct is a reflection of the modern British economy | Letters | Business | The Guardian
Sports Direct seems to be a metaphor for the modern British economy. “The conscious strategy would seem to be to rely on cheap labour rather than costly investment,” as your editorial (11 December) says. It also illustrates the epidemic growth of workforce insecurity which plagues a nation scarred by the rise of the precariat. Britain is rapidly becoming the sweatshop of Europe, and this, along with bubbles in consumer debt and house prices, has been a major part in such anaemic recovery as we have seen over the past five years. [...] [ HMRC cut under austerity, can't do it's job ] //&! theguardian.com/business/sports-direct-international //&! bit.ly/1jTkmsi - transferring assets. then bringing in administrators. leaving suppliers empty.
corporate  scandal  Precariat  working  poor  precarious  work  job  security  low  pay  low  income  investigative  journalism  Whistleblower  Amazon  Retail  Online  Shopping  commodity  business  commoditization  crony  capitalism  capitalism  Wall  Street  shareholder  value  profit  maximisation  George  Osborne  industrial  policy  STEM  David  Cameron  Tories  nasty  party  underinvestment  Conservative  competitive  competitiveness  self-regulation  regulation  regulators  Zero  Hour  Contract  Contractor  exploitation  lobbyist  lobby  Lobbying  trickle-down  economics  neoliberalism  neoliberal  microeconomic  policy  macroeconomic  policy  macroprudential  policy  business  investment  productivity  output  gap  austerity  tax  evasion  tax  avoidance  corporate  welfare  white-collar  crime  subsidies  subsidizing  HMRC  Trade  Union  Workers  Union  skills  gap  accounting  scandal 
december 2015 by asterisk2a
Global Capitalism: September 2015 Monthly Update - YouTube
Private Education (Charter Schools) that get public money, without the public being involved in decision-making how to spend that public money ... were outlawed/illegal, by Seattle Judges 6-2. //&! Tax exception of universities. Yale (4th richest uni of USA with 20bn in endowments) is being subsidized by people of the 7th poorest state. no property tax (largest land owner & employer in New Haven (Connecticut)). Public Services (Fire, Police, Hospitals) & Infrastructure. //&! min 41 Greg Mankiw: carbon tax would discriminate (burden too much) the middle class & poor with no wage growth last 30 yrs in disposable income vs corporates, well off, Super Rich, 1%. Rebuttal: tax more progressively those who can afford it. The crux of a carbon tax & tobin tax, setting it nationally, corporate lobby that it "will" be anti-competitive. Destroy Jobs. // 47:35 Science & Money. 1:09:20 Hegemony 1:22:20 public transport, US dogma; THE CAR! Committed 2 Private Free Enterprise. << Ideology. LA traffic
USA  income  distribution  income  redistribution  tax  code  lobbyist  lobby  Lobbying  inequality  Gini  coefficient  capital  gains  tax  capital  gains  tax  avoidance  tax  evasion  morality  taxpayer  income  tax  budget  deficit  neoliberalism  neoliberal  Public  Services  fairness  society  Gesellschaft  social  tension  social  cohesion  Super  Rich  1%  Wertegesellschaft  democracy  minority  majority  carbon  tax  carbon  trading  scheme  carbonemission  carbonfootprint  emissions  VAT  tax  progressive  coldprogression  kalte  Progression  income  inequality  American  Dream  income  mobility  social  mobility  tobin-tax  tobin  tax  conglomerate  heavy  industry  competitive  competitiveness  corporate  tax  rate  G  Zero  climate  change  global  warming  Policy  Makers  Generationengerechtigkeit  austerity  Monsanto  Monsanto  Protection  Act  food  industry  Hegemony  China  creditor  debtor  AIIB  TTIP  TPP  NAFTA  CETA  trade  agreement  self-regulation  regulation  regulators  oversight  accountability  ideology  dogma  free  market  transportation  transportation  underinvestment  infrastructure  investment  UK  TISA  BRIC  trickle-down  economics  economic  history  academia  academics  macroprudential  macroeconomic  microeconomic  commuting  productivity  output 
october 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. //
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october 2015 by asterisk2a
BBC Radio 5 live - In Short, Branson: Treating addicts with 'decency' saves them
Policy Making for Super Rich, 1%, vested interest and interest groups & Industry (capitalism) >> bit.ly/1eX3wC2 - [ First it was Big Sugar in USA that put Political pressure (will withdraw funding) on WHO to withdraw new & much low added sugar intake/nutritional guidance. Now this with the UN. Who are Policy Makers anyway? Are there any characters at these institutions? - bit.ly/1kmEDHJ & bit.ly/1GnMUoH & bit.ly/1cSYi7O & bit.ly/1MBJPy3 "Food Politics" & 1.usa.gov/1jyOCJQ ] // Richard Branson "somebody seems to have got to the UN, either a country or somebody worried about their job." The report by the UN Office of Drugs and Crime report allegedly said that there has been "millions of unnecessary arrests and that criminalising people for drugs is unnecessary and harmful." "They had basically come around to the realisation that treating people with decency is how you wean people off drugs". // UN denies Branson claim - bit.ly/1XeWLBp //&! bbc.in/1GP0EDC
UN  United  Nations  addiction  War  on  Drugs  Legalisation  decriminalisation  decriminalization  alcohol  abuse  drug  abuse  prison–industrial  complex  mandatory  minimum  sentences  substance  abuse  corruption  Politics  lobbyist  lobby  Lobbying  Policy  Makers  democracy  nanny  state  vested  interest  interest  groups  bribery  corporate  scandal  Wall  Street  shareholder  value  profit  maximisation  crony  capitalism  Career  Politicians  No  Representation  trust  distrust  trustagent  abuse  of  power  Play  character  Greed  white-collar  crime  morality  ethical  beliefs  ethics  bottom  up  USA  public  health  public  health  Big  Sugar  food  industry  capitalism  social  contract  political  theory  Super  Rich  1%  agriculture  industrial  agriculture  macroprudential  monetary  fiscal  corporate  welfare  subsidies  subsidizing  tax  evasion  tax  avoidance  corporate  state  corporate  media  Politics  manufactured  consent  Polarisation  propaganda  populism 
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
Fed chief Yellen says US rate rise still likely this year - BBC News
The US remains "on track" for an interest rate rise this year, Federal Reserve chief Janet Yellen has said. The central bank head said as long as inflation was stable and the US economy was strong enough to boost jobs, the conditions would be right for a rise. Despite expectations of a rise this month, the Fed held rates, in part due to fears about global economic growth. Ms Yellen, speaking at the University of Massachusetts, said US economic prospects "generally appear solid". Speaking a week after the Fed delayed that long-anticipated hike, she said she and other policymakers did not expect recent global economic and financial market developments to significantly affect the central bank's policy. Much recent inflationary weakness is due to special and likely temporary factors, such as a strong dollar and low oil prices, she said. //&! http://www.bloombergview.com/articles/2015-09-25/janet-yellen-s-flip-flop-confuses-markets
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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
UK productivity lags behind rest of G7 - BBC News
"Since the economic downturn, productivity growth has slowed in most developed economies, but by more in the UK than the average." The Chancellor, George Osborne, pledged in July to take steps to encourage more long-term investment in infrastructure and by businesses to boost productivity. Howard Archer, chief UK economist at IHS Global Insight, said British productivity had been held back since the financial crisis by the creation of lots of low-skilled, low-paid jobs where productivity is limited. However, Institute of Directors chief economist James Sproule said that UK firms should focus on "agility" rather than productivity. "The economy of the future looks set to be dominated not by big companies, but by fast, agile, quick-moving and reactive ones," he said. "The firms that can respond to consumer demands most effectively and bring new products and services to market will reap the rewards."
UK  productivity  recovery  output  gap  western  world  secular  stagnation  deflationary  deflation  Niall  Ferguson  competitive  competitiveness  BRIC  education  policy  job  market  job  creation  Niedriglohnsektor  Service  Sector  Jobs  precarious  work  Precariat  working  poor  disposable  income  discretionary  spending  income  distribution  income  growth  low  income  Gini  coefficient  income  mobility  social  mobility  inequality  poverty  trap  austerity  business  confidence  business  investment  budget2015  differentiate  differentiation  vocational  education  professional  education  Future  of  Software  Is  Eating  The  marginal  cost  marginal  propensity  to  consume  trickle-down  economics  economics  of  abundance  underinvestment  infrastructure  investment  STEM  Research  R&D  labour  market  manual  labour  Tories  Conservative  Party  macroprudential  policy  macroeconomic  policy  microeconomic  policy 
september 2015 by asterisk2a
Bank of England may cut rates, says chief economist - BBC News
Softening employment figures and weakening surveys on manufacturing and construction output suggested growth in the UK could slow in the second half of the year and inflation might not pick up as expected. Furthermore, problems in emerging markets could be a drag on UK growth and the headwinds from those economies were unlikely to abate any time soon, Mr Haldane added. //&! In a wide-ranging speech that called on central bankers to think more radically to fend off the next downturn – including the notion of abolishing cash – Haldane warned the UK was not ready for higher borrowing costs. He described recent events in Greece and China as "the latest leg of what might be called a three-part crisis trilogy."
China  sovereign  debt  crisis  European  Union  BRIC  credit  bubble  2015  headwinds  Fed  mandate  BOE  bond  bubble  Taper  Richard  Koo  fiscal  policy  austerity  monetary  policy  QE  ZIRP  NIRP  QT  British  Pound  Sterling  Dollar  petrodollar  FX  reserves  excess  reserves  liquidity  trap  GFC  economic  history  trickle-down  economics  Pact  Schuldenbremse  George  Osborne  budget2015  David  Cameron  industrial  policy  underinvestment  infrastructure  investment  productivity  output  gap  STEM  Research  competitiveness  competitive  differentiate  differentiation  shadow  banking  banking  crisis  leverage  margin  trading  speculative  bubbles  property  bubble  asset  allocation  capital  allocation  asset  bubble  hunt  for  yield  FOMO  equity  bubble  Gini  coefficient  inequality  social  mobility  crony  capitalism  Wall  Street  business  confidence  business  investment  profit  maximisation  shareholder  value  share  buyback  Niall  Ferguson  secular  stagnation  western  world  deflationary  deflation  macroprudential  policy  microeconomic  policy  education  policy  fairness  Generationengerechtigkeit  bank  bailout  tax  evasion  tax  avoidance  tax  code  corporate  tax  rate  short-term  thinking  short-term  view  monetary  transmission  mechanism  monetary  stimulus  monetary  policy  monetary  monetary  debt  unconve 
september 2015 by asterisk2a
OECD: leading countries spend $200bn a year subsidising fossil fuels | Environment | The Guardian
Thinktank says member states and six biggest emerging economies should use sum to tackle climate change instead //&! Company emerges as Europe’s worst climate policy wrecker, according to a new table ranking firms by their records on lobbying and opposition - bit.ly/1Qtfq8j //&! 'its always about jobs' how about reframe it and retrain these people vs putting them directly on the dole, funded by government - long-term investment! duh. there is always an alternative. //&! nyr.kr/1W8YWpH - What Exxon Knew About Climate Change - The influence of the oil industry is essentially undiminished, even now. The Obama Administration may have stood up to Big Coal, but the richer Big Oil got permission this summer to drill in the Arctic;
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september 2015 by asterisk2a
America's Highways Need That Trillion Dollars Congress Already Spent - YouTube
transportation (all kinds), internet, phone lines, cable, energy (smart grid), water, --- cost increase w worse infrastructure to do business. whether its commuting times (chronic stress for workers - thus increased aggregate health care bill and increased sick days) & congestion, air water pollution (public health), car/truck maintenance cost, no bike lanes (public health), lost productivity due to energy outages, slow internet ...
USA  infrastructure  investment  underinvestment  competitive  competitiveness  infrastructure  globalization  globalisation  Smart  Grid  microeconomic  policy  macroeconomic  policy  macroprudential  policy  macroeconomics  microeconomics 
september 2015 by asterisk2a
Easy Money Creates the Most Dangerous Bubbles - Bloomberg View
[Money has been slushing arnd in markets speculating, not investing in future & productive, added value goods. big companies are flush 2. easy credit is holding zombie corps of the last century over water. western world is persisting 2 put a banking bailout/crisis in the light of a sovereign debt crisis 2 push idealogical austerity. falling way being, never be able 2 catch up with productivity, output gap, STEM, research, future of work, smart grid & infrastructure, retooling their economy 21st century style.] // "speculation in property markets, amplified by mortgage financing, as a persistent central factor driving economic cycles." [...] the worst bubbles -- those that inflict the most economic pain -- tend to involve not just speculation, but a surge in easy lending and increasing leverage. [...] economic downturns following credit bubbles were generally worse and lasted longer. [...] danger of leverage cycle. // [ easy credit & debt fuelled recovery of assets, not fundamentals ]
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august 2015 by asterisk2a
El-Erian: This Is Not 1998 or 2008 - YouTube
it is a repricing. a correction. prices got too far away (reflation of equity & co through ZIRP, NIRP, QE, speeches, plus hunt for yield & FOMO). It just happened to be China being the trigger, the wake-up call - very loud wake-up call - bc of its economic size and heft. (taper talks 2015 that made equity already nervous, and bond holders too, was too timid). Reality check. // Was it justified, yes. // In the long-run, we are all dead. And in the long-run things will, eventually, correct itself. // People may take now into account a new normal, lower interest rate environment, lower global growth, lower yields, lower inflationary pressures, lower dividend payments, more work that corporates (crony capitalism) need to do to squeeze out that earnings growth especially in the western world. inequality - low wage growth/stagnation - less discretionary spending on non-essential items (in the western world). & "realization that policy tools were less effective". &! bv.ms/1NFsFUn
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august 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
China's currency devaluation could spark 'tidal wave of deflation' | Business | The Guardian
[3rd day in a row Yuan/RMB is devalued by PBOC (13/08/15)] “We’re all going to feel it: we’ll feel it through commodities; we’ll feel it through manufactured goods exports, not just from China but from everywhere that has to compete with it; and we’ll feel it through wages.” [...] China could be willing to let the yuan depreciate by as much as 25% over the next five years – “stone by stone, step by step” – in an attempt to restore the export-led growth that was such a winning formula [...] China [may be] trying to protect itself against the period of financial instability [following Taper by western central banks Fed/BOE] [or counter $ recent rise 21% & peg against $] [or fight home grown recession with kitchen sink] // &! bloom.bg/1gC8FFe &! bloom.bg/1WkMfZZ &! bloom.bg/1hy7O9l &! bloom.bg/1NpE4FI &! bv.ms/1IKB3fX // what is the new normal 4 growth in this global economy, competitive = keeping prices low = inflation & low interest rate pressure.
yuan  RMB  PBOC  China  devaluation  deflationary  deflation  UK  USA  Europe  Exportweltmeister  competition  competitive  competitiveness  Lohnzurückhaltung  lohndumping  secular  stagnation  western  world  globalisation  globalization  commodities  commodity  business  commoditization  Germany  Asia  Latin  America  borderless  flat  world  wage  growth  wage  stagnation  inflation  expectation  inflation  targeting  wage  pressure  productivity  output  gap  recovery  GFC  economic  history  New  Normal  hunt  for  yield  Great  Moderation  fiscal  policy  monetary  policy  QE  ZIRP  NIRP  Taper  unintended  consequences  unknown  unkown  complexity  Industrial  Revolution  2.0  IMF  SDR  currency  war  disinflation  inflation  wage  inflation  Japan  Australia  Oil  price  energy  price  Developing  Frontier  Markets  Forex  USD  British  Pound  Euro  Yen  BOJ  BOE  Fed  ECB  Bank  of  Canada  asset  bubble  macroprudential  policy  asset  allocation  productive  investment  underinvestment  business  investment  2015 
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
UK economic growth figures to ignite interest rate debate | Business | The Guardian
Recent business surveys have suggested household spending remains the main engine of growth despite the government’s long-standing vow to rebalance the economy towards more manufacturing and exports. [...] “Services output should do most of the legwork,” said Hare. “The GDP print is likely to point to a two speed economy, with services buoyed by solid domestic demand, while manufacturers suffer from the strong pound.” [...] Economists are divided over the extent to which households can continue to power the recovery, especially with another round of government cuts on the way. [...] “Consumers in the UK are feeling ever more confident. Wage inflation is starting to outstrip price inflation for the first time in years, while mortgage rates are at historically low levels and unemployment has generally been falling,” said Nielsen’s UK & Ireland managing director, Steve Smith.
recovery  UK  Taper  2015  economy  zombie  consumer  consumer  confidence  consumer  debt  household  debt  credit  card  debtoverhang  private  debt  budget2015  austerity  consumption  job  creation  job  market  Niedriglohnsektor  Niedriglohn  Service  Sector  Jobs  fiscal  policy  macroprudential  policy  microeconomic  policy  macroeconomic  policy  monetary  policy 
july 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
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july 2015 by asterisk2a
Yellen sees growing confidence in US - BBC News
'we will raise rates as economy can take it.' meaning if economy can't take it and a bubble is staring you in the face, they won't use rates (or even any other monetary policy tool), lets not even start on macroprudential policy under the current state of Congress ... to reign in an obvious bubble. Richard Koo argues, western world still in balance sheet recession. and shiller argues we are at risk to suffer another financial crisis and we have no tool left to fight a downward drag, to quote BIS // The chair of the US Federal Reserve, Janet Yellen, has suggested there's growing confidence in the US economy. And after more than six years of near-zero interest rates - it seems a rate rise is likely sometime this year. But facing Congress, the Fed chair faced some tough questions from politicians wondering why the increase was taking so long. // &! youtu.be/zn5zt1XzX6g - Fed Chair Janet Yellen's Testimony in Two Minutes
Taper  Fed  2015  2016  QE  ZIRP  NIRP  macroprudential  policy  monetary  policy  GFC  dot.com  irrational  exuberance  secular  stagnation  Richard  Koo  balance  sheet  recession  liquidity  trap  deleveraging  debtoverhang  consumer  debt  credit  card  household  debt  private  debt  BIS  Robert  Shiller  robertshiller  unconventional  monetary  policy  monetary  system  monetary  transmission  mechanism  monetary  theory  monetary  stimulus  bond  bubble  China  equity  bubble  global  economy  asset  bubble  hunt  for  yield  unknown  unkown  unintended  consequences 
july 2015 by asterisk2a
Credit Booms & Credit Busts - YouTube
// financial cycle twice as long as business cycles (which is on top, like an inverted pyramid). // financial markets are not self-stabilising // better make policy on caution, that if you don't act you will cause more long-lasting economic damage by curbing one obvious bubble not in (ie uk property bubble - people who have difficulty serving their interest payment) // QE does not facilitate loan growth in times of balance sheet recession - Richard Koo // QE is reflationary and currency war, downside size unknown - look Richard Koo, state has to pick-up shortfall of demand // // There is now a growing consensus among policymakers and academics that a key element to improve safeguards against financial instability is to strengthen the “macroprudential” orientation of regulatory and supervisory frameworks. [Dr. Claudio Borio @ BIS], one could even say that “we are all macroprudentialists now”. And yet, a decade ago, the term was hardly used. What does it mean?
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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
UK's inflation rate falls to 0% - BBC News
bit.ly/1IXuomp >> Carney: Current account deficit is a risk highlighted by FPC. UK is relying on the kindness of strangers to finance current account deficit. Household borrowing isn't driving the deficit Tighter fiscal policy is needed. Tighter macroeconomic policy is needed also. Deficit highlights importance of maintaining the attractiveness of the UK for foreign investment // &! bit.ly/1I07olT - BOE's Miles doesn't see secular stagnation in the UK [...] Carney - Health of the financial system is likely to boost productivity [really?] [...] McCafferty: Low income jobs have kept productivity low &! bit.ly/1JfaSxr - Bank is looking at the household sensitivity to rate rises [ mortgage bubble will prevent BOE to raise rates faster as demand stokes as more disposable income is spend on serving interest payments thus depressing GDP growth bc 70% of it is consumer spending ] &! bit.ly/1HtySg1
current  account  deficit  UK  Mark  Carney  austerity  fairness  sovereign  debt  crisis  ZIRP  NIRP  QE  unintended  consequences  unknown  unkown  asset  bubble  equity  bubble  property  bubble  George  Osborne  productivity  output  gap  industrial  policy  STEM  Higher  Education  added  value  fiscal  policy  Public  infrastructure  investment  recovery  economic  history  competitiveness  competitive  globalisation  globalization  flat  world  borderless  deflationary  deflation  secular  stagnation  zombie  banks  Service  Sector  Jobs  job  creation  job  market  labour  market  labour  economics  skills  gap  policy  vocational  working  poor  precarious  work  Precariat  squeezed  middle  class  Zero  Hour  Contract  Contractor  disposable  income  discretionary  spending  household  debt  Niedriglohn  Niedriglohnsektor  underemployed  self-employment  employability  part-time  mortgage  market  BOE  2015  macroprudential  policy  macroeconomic  policy  microeconomic  policy  Manufacturing  fiscal  stimulus  Taper  USA  negative  real  interest  rate  interestrate  debt  servicing  interest  payment  consumer  debt 
july 2015 by asterisk2a
Osborne faces up to productivity challenge - BBC News
UK is 30% behind USA and Germany in terms of productivity. // most job creation was in service sector jobs / manual labour - no net new jobs stemming from productive investments in new technology/manufacturing/R&D ... the future. The Future is obviously not made in the UK. And stuff is not made what people use across the globe.
George  Osborne  UK  productivity  recovery  income  growth  living  standard  GFC  employment  labour  market  labour  economics  underinvestment  productive  investment  general  election  2015  Industrial  Revolution  2.0  Future  of  Work  Mobile  Creatives  Mobile  Creative  output  gap  Niedriglohnsektor  Service  Sector  Jobs  job  creation  microeconomic  policy  microeconomics  macroprudential  policy  macroeconomics  macroeconomic  policy  Makers  short-term  thinking  short-term  view  austerity  fiscal  policy 
may 2015 by asterisk2a
Inside Out London - The Great Property Race
London, one of the most expensive places on earth to live. // Inside Out London - The Great Property Race - Mark Jordan joins first-time buyers and cash-rich Chinese investors as they race to buy homes in the capital's fast, furious and often cruel market. >> London-mania, speculation, ASIAN individual investors leave flats empty & sell them again after 12-18m after much appreciation of value. Buying just based on the prospect & not one stone put down or even speculating on green fields planning permission 5 years down the road. Insane. // &! Existing owners building owners are in a Millionaire Basement Wars - bbc.co.uk/programmes/b05r86yg // Think about all that money being invested long-term into productive investments (STEM) creating current & future opportunity. Lowering the output & productivity gap of UK! Once, a high rise is finished, there are no jobs there that generate tax income from revenue/profit generation - that of a worker or company of the 21st century.
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april 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
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
Is there a London property bubble? - YouTube
--- outside money driving up prices in the city and outer suburbia // first time buyers locked out !!! - inequality because buying is unaffordable and locked into renting
economies  of  agglomeration  London  property  bubble  Supply  and  Demand  Demand  and  Supply  hunt  for  yield  macroprudential  policy  urban  planning  urbanisation  city  living  quality  of  life  pollution  faultlines  infrastructure  investment  infrastructure  standard  of  living  well  being 
august 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
The Assets Perspective: Amazon.co.uk: Reid Cramer: Books
'weather proofing for the future.' - The Assets Perspective presents a multi-dimensional exploration of the rise of asset building as a new social policy framework. By focusing on long-term economic health outcomes rather than short-term income or poverty, this book offers a valuable lens for thinking about social policy - pointing to opportunities for policy interventions designed to assist families in building their asset base. Topics covered include the evolution of public assistance programs, the racial wealth gap, impact of the Great Recession, the challenge of affordable homeownership, the history of financial services, and the potential of policy reform. With contributions from leading scholars, the book considers how the assets perspective has impacted the manner in which social policy is conceived, designed, and delivered.
working  poor  squeezed  middle  class  asset  bubble  asset  allocation  assets  Public  Policy  social  health  error  folly  health  fiscal  energy  Policy  Makers  microeconomic  macroeconomic  macroprudential  Politics  Career  Politicians  short-term  thinking  long-term  thinking  democracy  Democratic  Process  book 
june 2014 by asterisk2a
BBC News - 'No wage rises' until jobless rate falls to 5% says MPC member
Martin Weale said there may be more spare capacity in the economy than policymakers had previously estimated. +++ Bank of England 'puzzled' by productivity gap - http://www.bbc.co.uk/news/business-27857472 >> London Finance Centre Canary Wharf drove up productivity in the run up to the 2008 GFC :: UK workforce as a whole, lacking skills for the future, thus the productivity gap; Mobile Creative, Mobile Creatives, skill-biased technological change, knowledge worker, White-collar Worker, Blue-collar Worker. Year of Code is too late and a drop/tea-cup in the ocean. College needs to offer Computer Science Degrees (Technichal College), not just University. College's offers courses as "Beauty Technicians." Services Industry that does NOT scale. A locals hairdressers service can not be exported, sold and consumed in other countries. Period.
spare  capacity  output  gap  UK  productivity  recovery  2014  BOE  economic  history  unknown  unknowns  complexity  unemployment  structural  unemployment  economy  monetary  policy  fiscal  policy  austerity  Impediments  faultlines  structural  imbalance  productivity  gap  Mobile  Creative  Mobile  Creatives  skill-biased  technological  change  knowledge  worker  White-collar  Blue-collar  workforce  Year  of  Code  21stcentury  Why  Software  Is  Eating  the  World  Software  Is  Eating  World  education  Higher  formal  education  business  education  education  bubble  un-college  College  scaling  scale  microeconomics  macroeconomic  policy  microeconomic  policy  macroeconomics  macroprudential  policy  microprudential  regulation  Public  interest  retraining  STEM  education  policy  Career  Politicians  short-term  thinking  long-term  thinking  accountability  Politics  transparency  democracy  Democratic  Process  free  press  free  speech  pluralistic  society  plurality  pluralism  freedom  of  press  debate  discourse 
june 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
Learn To Code, Learn To Think : 13.7: Cosmos And Culture : NPR
policy to push to learn to write, read, understand code and systems. design thinking. problem solving. early on as soon as yound ppl are literate ~12-14. - higher productivity - + 3D printing future in 30 years ... future of 30-35hr work week - 5-6hrs a day. THE REAL NEW ECONOMY. 90's New Economy was hyped by exuberance and ... different topic. But this is the outline of the real new world, new economy. ( robert skidelsky in praise of leisure ) when the world is flat - 2050. baring any other crisis being solved ala climate change and ecological disasters. man made or ie earthquake swallowing california, canarie islands exploding creating huge tsunami, yosemite exploding, etc etc. - baring also - that we fix inequality problems, reducing the divide. fostering better democratic process, transparency and accountability - instilling trust and confidence again in public service.
Year  of  Code  coding  programming  programmers  ethical  machine  systems  design  system  design  skill  skill-biased  technological  change  capital  skills  skills  knowledge  worker  White-collar  Blue-collar  Mobile  Creative  Mobile  Creatives  destruction  globalisation  globalization  comparative  advantage  comparative-advantage  competitive  advantage  competitive  competitiveness  Competition  Why  Software  Is  Eating  the  World  Software  Is  Eating  World  education  Higher  formal  education  business  education  education  bubble  Public  Policy  Policy  Makers  error  folly  industrial  fiscal  macroprudential  Career  Politicians  long-term  thinking  21stcentury  productivity  macroeconomic  macroeconomics  microeconomic  microeconomics  3D  printing  Future  optimism  Robert  Skidelsky  academia  economic  history  capitalism  workforce  book  economist  New  Economy  global  digital  digital  natives  digital  divide  Age  knowledge  Commanding  Heights  Politics 
june 2014 by asterisk2a
EZB senkt Leitzins und beschließt Minuszinsen für Banken - SPIEGEL ONLINE
Die Europäische Zentralbank (EZB) hat ihren Leitzins auf ein Rekordtief gesenkt und erstmals einen negativen Einlagensatz beschlossen. Angesichts der zuletzt sehr niedrigen Inflationsrate wird der Zins, zu dem sich die Geschäftsbanken bei der Notenbank Geld leihen können, um 0,10 Punkte auf 0,15 Prozent gesenkt, wie die EZB am Donnerstag nach ihrer Ratssitzung in Frankfurt mitteilte. Der Einlagensatz, zu dem Banken kurzfristig Geld bei der Notenbank parken können, wird erstmals in den negativen Bereich gedrückt. Er sinkt von bisher null Prozent auf minus 0,10 Prozent. Der Zins für kurzfristige Ausleihungen bei der Notenbank vermindert sich von 0,75 auf 0,40 Prozent. + http://www.spiegel.de/wirtschaft/unternehmen/ezb-entscheidung-kredite-und-senkung-des-leitzins-a-973657.html ""Die Banken leiden nicht unter vermeintlich zu hohen Notenbankzinsen, sondern unter dem hohen Bestand fauler Kredite, an dem Negativzinsen nichts ändern." + !! http://youtu.be/kKO_yxP3dyQ !!
deflation  deflationary  monetary  transmission  mechanism  unconventional  monetary  policy  monetary  policy  macroprudential  policy  macroeconomics  macroeconomic  policy  ECB  MarioDraghi  BuBa  Bundesbank  2014  ZIRP  OMT  QE  debt  monetization  debt  monetisation  deposit  levy  New  Normal  financial  repression  zombie  banks  zombie  corporations  Super  Cycle  sovereign  debt  crisis  PIGS  Structural  Impediments  deficit  unemployment  imbalance  Europe  Germany  faultlines  recovery  policy  error  policy  folly  Makers  Career  Politicians  austerity  fiscal  policy  GFC  lost  decade  lost  generation  long-term  unemployment  banking  union  creditcrisis  creditcrunch  credit  crunch  2015  NPL  non-performing  loan  economic  history  LTRO  assetbackedsecurities  Sterilization 
june 2014 by asterisk2a
Dax knackt 10.000 Punkte: Rekord wegen billigen Gelds von EZB - SPIEGEL ONLINE
Erstmals überspringt der Dax die Marke von 10.000 Punkten. Das beweist erneut, wie sehr der deutsche Leitindex vom billigen Geld der Notenbank abhängig ist - und wie schnell die gute Stimmung an der Börse vorbei sein kann. + http://www.spiegel.de/wirtschaft/unternehmen/dax-steigt-ueber-10-000-punkte-auf-neuen-rekordstand-a-972849.html + http://www.spiegel.de/wirtschaft/unternehmen/geldanlage-bei-niedrigzinsen-gold-immobilien-einen-jaguar-a-973671.html ""Wohin also jetzt mit den Ersparnissen?"" +++ Spekulationsblasen: Wirtschaftsweiser warnt vor Gefahren der Niedrigzinsen - http://www.spiegel.de/wirtschaft/ezb-wirtschaftsweiser-wieland-warnt-vor-spekulationsblasen-a-975400.html +++ Niedrigzinsen: Schäuble befürchtet Immobilienblase in Deutschland - http://www.spiegel.de/wirtschaft/soziales/zinsen-schaeuble-befuerchtet-immobilienblase-in-deutschland-a-976154.html
asset  bubble  Betongold  Beton  Gold  ZIRP  QE  OMT  ECB  BOE  BOJ  Fed  monetary  policy  unconventional  monetary  policy  monetary  stimulus  asset  allocation  property  bubble  London  PIGS  monetary  transmission  mechanism  liquidity  trap  liquidity-trap  zombie  consumer  zombie  corporations  zombie  banks  Europe  sovereign  debt  crisis  Super  Cycle  hunt  for  yield  New  Normal  financial  repression  2014  MarioDraghi  BuBa  Bundesbank  banking  union  unintended  consequences  unknown  unknowns  complexity  macroprudential  policy  Politics  Career  Politicians  policy  folly  policy  error  austerity  fiscal  policy  Structural  Impediments  unemployment  faultlines  imbalance  recovery  greatdepression  greatrecession  lost  decade  lost  generation  speculative  bubbles  equity  bubble  credit  bubble  debt  bubble  bond  bubble  Wolfgang  Schäuble 
june 2014 by asterisk2a
Mini-Wohnung in London mit hoher Miete alarmiert Behörden - SPIEGEL ONLINE
London is a different country than UK ex-London. PERIOD. As is SF, LA, NY compared to USA as a whole. UK needs support for 2nd London, ie Manchester surroundings. That is why BBC moved parts of its operations to Manchester, creating the MediaCity. It was a politically motivated and macroprudential influenced decision as well as microeconomic decision for BBC Operations (lower wage demands, lower operating cost). ""Für durchschnittliche Mieter dürfte es nur ein schwacher Trost sein, dass in London auch die Superreichen inzwischen Mondpreise für Immobilien zahlen müssen. So hat ein privater Käufer für eine Penthouse-Wohnung im vornehmen Londoner Stadtteil Knightsbridge kürzlich 140 Millionen Pfund (knapp 171 Millionen Euro) bezahlt. Angesichts solcher Zahlen warnte sogar der stellvertretende Direktor der Bank of England vor einer gefährlichen Blase: Das Preisniveau auf dem Grundstücksmarkt stehe in krassem Gegensatz zur derzeitigen Schwäche der britischen Wirtschaft, sagte Jon Cunliffe.
London  property  bubble  Supply  and  Demand  Demand  and  Supply  hunt  for  yield  2014  monetary  policy  unknown  unknowns  unintended  consequences  complexity  macroprudential  policy  BOE  faultlines  economies  of  agglomeration  structural  imbalance  infrastructure  investment  infrastructure  urban  planning  urbanisation  asset  bubble  recovery  UK  microeconomic  policy  microeconomies  microeconomics  macroeconomic  policy  macroeconomics  economic  history  BBC  MediaCity  Manchester 
june 2014 by asterisk2a

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