borassic

London is now the world's Blackpool...

Not listened to it yet: BBC Radio 4 Rigged Markets www.bbc.co.uk/programmes/b04hvynp "Suppressing the gold price is rather like turning off a fire alarm because you can’t stand the noise"

"Taken from the month before the Lehman collapse, the real price of gold adjusted in this way is $550 today, based on a nominal price of $1220. So in real terms, gold has fallen 40% from its pre-Lehman level of $920, and has roughly halved from its adjusted high in 2011" Ends with "We are being regularly advised by analysts working at investment banks to sell gold. But bear in mind that the investment industry is driven by trend-chasing recommendations, because that is what investors demand. Expecting analysts to value gold properly is as unlikely as farmers telling turkeys the truth about Thanksgiving." http://www.financeandeconomics.org/valuing-gold-and-turkey-farming/

Something MSM are not reporting - The UK's current account deficit. The excellent Tim Morgan gives us a reality check: http://surplusenergyeconomics.wordpress.com/

It throws up big questions about the role of the nation state, patriarch organizations and the cross-class-hopping that massive wealth enables - so that the oligarchs mix with the old money. An old I mean the Viking settlers of Normandy who took over in October 1066. Working in London in all the boroughs from Tower Hamlets to Kensington I see that you need to be mega rich to live in all of them. London now a mad, money grabbing city state. Twas ever thus? Poor bloody plebs we are, will be beaten or arrested or just sacked. House of Commons and Lords, Bank of England and City of London based promoting and participating in fraud.

I got a cold call yesterday would I be interested in a 100% buy to let mortgage? from UK company Ward & Co. It's deja vu all over again.

I was in MoneyWeek's Simon Popple's Metals and Miners newsletter. And the performance of my portfolio since last November? Minus 47%. Good job I only risked a thousand bucks on it. Still holding the stocks but cancelled the newsletter until, if, when matters improve. I'm off to buy a house so that I stop speculating.

Ah Airplane gags beckon....

MoneyWeek sending this my inbox today: "Secure investment with 7% NET* returns assured for 5 years from the UK’s fastest growing property brand" Yes indeed invest in student halls of residence in sunny Exeter! (my home town) That brand is Vita Student

HTB brought forward to next week. So short of ideas or policy reform for their conference use an existing one instead? Tories on suicide mission?

Faisal Islam just appeared on Channel 4 news calling UK market disfunctional - report on Asian investors with billboards saying "and NO SOCIAL HOUSING" in the hotel marketing suites.

This from HPC - although the agent is the notorious Roy Brooks - a hero for plain English, long since dead (for both) http://www.rightmove...y-42812591.html A classic Roy Brooks ad below - oh for agents to be more, creative yet honest - the above is truly deceptively spacious - meaning, yes, it really is small. "Wanted: Someone with taste, means and a stomach strong enough to buy this erstwhile house of ill-repute in Pimlico. It is untouched by the 20th century as far as conveniences for even the basic human decencies are concerned. Although it reeks of damp or worse, the plaster is coming off the walls and daylight peeps through a hole in the roof, it is still habitable judging by the bed of rags, fag ends and empty bottles in one corner. Plenty of scope for the socially aspiring to express their decorative taste and get their abode in The Glossy, and nothing to stop them putting Westminster on their notepaper. Comprises 10 rather unpleasant rooms with slimy back yard, 4,650 Freehold. Tarted up, these houses make 15,000."

hubris from Osourne as he has his own "end of boom and bust" speech "We've saved the economy and proved Labour wrong" http://www.telegraph.co.uk/news/politics/georgeosborne/10295060/Osborne-Weve-saved-the-economy-and-proved-Labour-wrong.html Looking forward to his nemsis (a job at the IMF, big bank, UN envoy, ad nauseum)

Others feel the same way as me then... http://www.youtube.com/watch?feature=player_embedded&v=vRQjdvHJwQw

From today's Guardian - "Foxtons bosses in line to make £100m as estate agent prepares flotation" And a nice piece by Ann Pettifor - great phrase for the UK economy - Alice in Wongaland - she is good on media as well, see Keiser report. http://www.primeeconomics.org/?p=2030 It does seem odd and very depressing that George Osborne is carrying on the policies of Gordon Brown. Several thousand public sector jobs? - no, but we will do HS2 instead.