LIBOR rising again
"The key rate at which banks lend to each other in dollars hit its highest level in two months on Monday, suggesting there could be more turbulence ahead for the financial system."
But I thought that things could only get better? Can you feel it? Something bad in banking is about to happen.
Where is the deflation?
It hasn't happened yet....
"US wholesale prices rose twice as fast as expected last month as new home construction plunged, government data showed on Tuesday, offering little reason for optimism on the outlook for either inflation or the ailing housing market."
Covers the same story; "The latest Producer Price Index for Finished Goods is out, and its screaming hot: It advanced 1.2% in July (seasonally adjusted). 1.2% headline and 0.7% core vs consensus estimates of 0.6% and 0.2%. "
Econbrowser on falling oil prices
Lower oil prices will take one full percentage point off the US CPI. That still leaves the US with a five percent inflation rate and negative interest rates. It still puts the US economy a long way north of deflation.
Times guide to London property
"The Royal Borough tops the list with an average price over £1.4 million followed by Westminster at over £1 million. Why would I pay an average £412,023 to live in Hounslow?"
I have a passing acquaintance with Hounslow, it is not so bad.
Worst of the credit crisis still to come
Don't tell me that!
Why UK house prices could fall by 50%
Someone must have looked at my recent "short history of UK house prices" slideshow. However, I discovered one interesting thing from this post:
"According to Rightmove, the average estate agent now has a record 78 unsold properties on its books. That represents a seventh consecutive monthly increase in the amount of unsold stock. "
Stumbling and mumbling
On why Polly Toynbee is wrong. Is she ever right?
A Chinese perspective on the UK economy
At least we are picking up a few medals in China.