Trust Deeds Scotland Lately, Scottish people have already been taking up a brand new kind of legal debt legislation to assist all of them with their unsecured finance that they’ve been attempting to pay for. A Trust Deeds Scotland is really a form of procedures developed through the Scottish government to assist operating individuals and [...]
With inflation approaching 5pc, do we really want more QE?
On the basis that inflation is better than depression, I suppose it is just about possible to go along with the Monetary Policy Committee’s decision to increase “quantitative easing” by a further £75bn. But I worry about it. I worry both that it will be ineffective in terms of stimulating investment and growth, I worry [...]
Government plans could cut a third or more off thousands of house prices
Thousands of house prices could fall by a third or more if Coalition Government proposals to change planning rules in favour of developers become law, knocking hundreds of thousands of pounds off some of the most desirable homes in the green belt. Many estate agents are reluctant to discuss this potential domestic disaster because they [...]
More banking sector bailouts? When will the madness end?
The IMF Global Stability Report suggests that banks might be €200-€300 billion down as a result of the Eurozone crisis. The predictable cry has arisen that this shortfall should be made up by governments. Really? So, let’s see. Setting aside the bailouts of late 2007 and early 2008 and just starting when it got serious, [...]
More public money required for bankers as IMF warns of €200bn blackhole in European banking system
Most International Monetary Fund reports are necessarily the result of compromise and negotiation. Rarely is the IMF allowed by its nation shareholders to tell it exactly as it sees it. So the warning in the IMF’s latest “Global Financial Stability Report” that European Union banks face a possible capital shortfall of €200bn to €300bn as [...]
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Credit Card Debt Settlement
If the Bank of England is going to do more QE, it should get ultra adventurous
As regular readers will know, I’m not in favour of a new programme of “quantitative easing” for the UK in current circumstances. Not until there is an extreme deflationary threat does it strike me as warranted. That moment may come soon enough, but we are not yet there. Yet perhaps I’ve been a little too [...]
What happens when banks are required to hold more capital?
Financial regulation imposes requirements on banks to hold certain amounts of capital. When the financial crisis began in 2007, the capital banks held fell significantly. Regulators could have taken the view that capital is there as a buffer against a rainy day, and the rainy day had come, so the buffer should be allowed to [...]
More QE? Give us a break
A head of steam is building up for more quantitative easing in the US and the UK, though apparently not for the eurozone, which is the one place which really needs it. Here’s the case against more QE, which I was going to put on BBC Radio 4’s Today programme on Friday morning, except that [...]
Tin hats on, there’s more misery to come
Households can breathe a sigh of relief and small businesses continue their forlorn hope that credit will become cheaper. Rates will be on hold at their record low of 0.5pc for another two years, the Bank of England indicated at it’s Inflation Report today. By the time rates start rising, according to the Bank’s current [...]