The world is falling apart.
This has to be the subject of a new blog; anyone out there up to the task? Even celebs can find themselves in housing trouble.
Terminal five loses 900 bags a day
Heathrow has always been my vision of hell. They should have posted a sign on the front door of terminal five - "forsake all hope, ye who enter".
Venezuela inflation at 32 percent
Chavez, the cracker from Caracas, has an inflation problem. It must be the fault of the Imperialists, who are trying to bring down the Bolivarian revolutionary.
Inflation is back
Long term readers of this blog know that I have never believed in this "deflation is coming" baloney. I have always thought that we are heading for a prolonged period of slow growth and inflation. Trichet, the ECB governor, is now calling recent trends as "worrying". At least, the ECB had the good sense to raise rates, unlike the Fed and the BoE.
Housing losses to top $1.6 trillion
Nouriel Roubini's blog is always alarming, but rarely wrong.
Home ownership ‘out of reach’ for average earners
"Couples who have a combined take-home pay of £27,500 or less would have to save more than a year’s salaries to pay for a deposit, stamp duty and solicitors’ fees on the average first-time home – a total bill of £27,738 – figures from the Royal Institute of Chartered Surveyors (RICS) show. Couples both earning the average wage would have to set aside two thirds of their take-home pay of £44,000 to cover the bill."
This is why house prices fell two percent in June.