Maybe you should join as a gold, platinum and diamond member separately?What is it with this estate-agent fluff of late? Isn't there enough hard-core bubble material?Telegraph lead article: 25% down in nominal terms.Greenspan says that US recession is likely and a recovery isn't on the cards.And we're looking at some lame-ass property-scam website?
asteve, everyday I wake up and ask myself "what am I going to post today"? So there is always this pressure to find something new.I suppose the "lame-ass property scam website" post is an attempt to test the audience. So far, the reaction is negative! BTW, I used to post stuff on the US, but I sensed there wasn't so much interest. So I have this informal rule of sticking to the UK. Personally, I would love to branch out abroad, but I won't go, unless you and the other main commenters are ready to go there too.Again thanks for the comment; it is duly noted. Alice
Just feeling grumpy - I didn't intend to be so negative. :PMost of your material is serious stuff, forward looking and not (at least obviously) dumbed-down to the level of a particular audience.I understand your point about not wanting to be US focused... and I share that wish... but, in spite of this, we're affected greatly by the US. The US banks are responsible to a great extent for international banking practice; the US$ defines international commodity prices - and hence inflation in the price of raw materials... etc. Not only that but Greenspan is a lot more than the ex-chairman of the US-Fed... he has been in Britain as a special advisor to the UK government. Greenspan is still a hugely influential world figure.The telegraph article ( http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/24/bcnhouse124.xml ) refers to the dire BBA figures and outright predicts a housing crash... all in the mainstream media. The BBA figures also suggest that people are beginning to fill credit cards to keep up with mortgage payments.Bob Janjar (RBS senior credit analyst) has been saying some spectacular things too:http://www.financemarkets.co.uk/2008/06/18/rbs-warns-of-new-stock-market-crash/Credit analysts briefing the press about a likely equity crash three months out is unusual, at best, you surely agree?
One credit card issue, just posted something on that. The data is really surprising. However, it does jive with the most recent retail sales numbers.
Oh, and on looking abroad... I'm interested in that... though not as an exclusive focus. Ireland is in the news today looking at recession... and I'm personally very interested in the dynamics of property prices; portfolio/direct investment; economic strength and debts throughout Europe - for example. My interest wanes further afield than this - mainly because I find it harder to establish the economic relevance. I've been trying to research the history of the 1990 Japanese crash... as that looks to be the closest exemplar to the UK situation in modern history. Just like in Japan, the strategy seems to be to delay any effects reaching the "real economy".
Asteve, so you fancy a holiday, but you don't want to migrate!
Depends where you'd take me... ;)
ouch, walked into that one!
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