At least according to Bloomberg. One for the core of PB.
After more than 20 years in the financial-services rat race, Swiss banker Michael Reichstein packed it in and turned to horse racing for a living.
The 46-year old quit his job as a vice president at UBS AG (UBSN)’s private-banking unit in Zurich where he advised wealthy clients in countries from Jordan to Lebanon and in 2011 began offering bets on British horse races. Reichstein said his Gibraltar-based service, which mostly places lay bets -- a wager that a horse won’t win -- is unique.
“Very wealthy private clients like the approach, they say it’s not correlating to anything,” said Reichstein, who wore sports trousers and a hoody during the interview and spends afternoons betting his client’s money on losing horses at popular U.K. racetracks such as Kempton Park or Wolverhampton.
All of the Questions mainly have negative result for government and Osborne
George Osborne as made my family better off financially Agree - 9% disagree - 67% or this one - George Osborne should rightly take credit for the uk's economic recovery Agree 22% Disagree 46%
Mike Smithson @MSmithsonPB 2 mins 9% tell ComRes/ITV News poll that George Osborne has made their family better off. See this & other findings pic.twitter.com/FeFg9pEZ38
The ComRes findings remind me on an interview with a worker at the motor parts supplier in Durham which was blessed by a visit from St. George last week.
The worker was asked about the 'cost of living' crisis and responded by saying that prices were going up much faster than wages and that it was very difficult to keep pace with increases in energy bills, food and fuel.
He then paused, thought a little, and said: "but we have been very well treated here. Our wages have gone up by 3%, 4% and 4% and being so busy we have had plenty of overtime".
There are lots of people moaning about price increases and falling pay, but where did the 5.6% increase in Christmas shopping volume come from? The BoE show consumer deposits remained flat during Q4 and that, although unsecured credit rose in the period by around 3%. this only offset falls in previous quarters of 2013.
How long are people prepared to believe their own lies?
I put it all down to the UK's 'victim culture' pandemic.
Some astonishing stats for China-skeptics. China produces 90% of the world's personal computers, 80% of the world's air conditioners, 63% of all the shoes on the planet, and 50% of the world's PORK.
Over the last 30-ish years the bankstas looted most of the industrial capital in Britain and America and transferred it to the East. While the credit lasted they got fantastically rich paying eastern wages, charging western prices and paying their tax in Monaco but now it's over.
The current *boom* is all the "emerging markets" version of banksta trying to find a place to stash their winnings from the last 30 years before it all goes down.
MrJones
Every reader of PB knows you have developed your own language but I am surprised to see it adopt grammatical gender.
Am I right in thinking that "banksta" is the feminine form of "bankster"?
Sorry I'm late to the game, but this awful little thing called work got in the way. Darned, I hate it... ;-)
As for my point 2: CCS can take 15-45% of the power of a power station to run, depending on many factors. ISTR this covers everything from scrubbing the gasses to transport. That is one heck of a big energy hit, and is more than enough reason not to use it in power generation.
Point 3: this is allied to point 3. Not only are CCS plants less efficient, but the scrubbers and transport cost more.
For my other points: IANAE, but it should be noted that CO2 is not natural gas (which is a mixture of things; alkanes, methane and some CO2). The reservoirs may have stored natural gas for millions of years, but that was before they were made into pincushions and emptied. And if CO2 does degas in a big way, it is much worse - and deadlier - than natural gas as it is slightly heavier than air.
See Lake Nyos for a natural example of this: http://en.wikipedia.org/wiki/Lake_Nyos#1986_disaster And how the experts disagree: As for my point 2: CCS can take 15-45% of the power of a power station to run, depending on many factors. ISTR this covers everything from scrubbing the gasses to transport. That is one heck of a big energy hit, and is more than enough reason not to use it in power generation.
Point 3: this is allied to point 3. Not only are CCS plants less efficient, but the scrubbers and transport cost more.
For my other points: IANAE, but it should be noted that CO2 is not natural gas (which is a mixture of things; alkanes, methane and some CO2). The reservoirs may have stored natural gas for millions of years, but that was before they were made into pincushions and emptied. And if CO2 does degas in a big way, it is much worse - and deadlier - than natural gas as it is slightly heavier than air.
The gas pipeline infrastructure costs money to maintain. That's all good and well when it's used to provide gas for power; it's an added cost when it is used to remove waste.
I don't know what the answer is, but I'm fairly sure it's not large-scale CCS on power generators.
The gas pipeline infrastructure costs money to maintain. That's all good and well when it's used to provide gas for power; it's an added cost when it is used to remove waste.
I don't know what the answer is, but I'm fairly sure it's not large-scale CCS on power generators.
At least according to Bloomberg. One for the core of PB.
After more than 20 years in the financial-services rat race, Swiss banker Michael Reichstein packed it in and turned to horse racing for a living.
The 46-year old quit his job as a vice president at UBS AG (UBSN)’s private-banking unit in Zurich where he advised wealthy clients in countries from Jordan to Lebanon and in 2011 began offering bets on British horse races. Reichstein said his Gibraltar-based service, which mostly places lay bets -- a wager that a horse won’t win -- is unique.
“Very wealthy private clients like the approach, they say it’s not correlating to anything,” said Reichstein, who wore sports trousers and a hoody during the interview and spends afternoons betting his client’s money on losing horses at popular U.K. racetracks such as Kempton Park or Wolverhampton.
Kempton and Wolverhampton - Oh what a shock !
He may put in an occasional visit to Lingfield and Southwell too.
At least according to Bloomberg. One for the core of PB.
After more than 20 years in the financial-services rat race, Swiss banker Michael Reichstein packed it in and turned to horse racing for a living.
The 46-year old quit his job as a vice president at UBS AG (UBSN)’s private-banking unit in Zurich where he advised wealthy clients in countries from Jordan to Lebanon and in 2011 began offering bets on British horse races. Reichstein said his Gibraltar-based service, which mostly places lay bets -- a wager that a horse won’t win -- is unique.
“Very wealthy private clients like the approach, they say it’s not correlating to anything,” said Reichstein, who wore sports trousers and a hoody during the interview and spends afternoons betting his client’s money on losing horses at popular U.K. racetracks such as Kempton Park or Wolverhampton.
Kempton and Wolverhampton - Oh what a shock !
He may put in an occasional visit to Lingfield and Southwell too.
Dirt racing I call it.
Take The lead has come in at 7-2 for me today at Southwell but yes if racing is bent, the all weather is the most bent of the lot.
Critical point about China is that it's been too successful - unnaturally and unsustainably so -because the ruling elite in Britain and America were using the imbalance to make themselves very rich. However that imbalance between supply and demand could only last till the credit ran out.
Comments
George Osborne as made my family better off financially Agree - 9% disagree - 67% or this one - George Osborne should rightly take credit for the uk's economic recovery Agree 22% Disagree 46%
The worker was asked about the 'cost of living' crisis and responded by saying that prices were going up much faster than wages and that it was very difficult to keep pace with increases in energy bills, food and fuel.
He then paused, thought a little, and said: "but we have been very well treated here. Our wages have gone up by 3%, 4% and 4% and being so busy we have had plenty of overtime".
There are lots of people moaning about price increases and falling pay, but where did the 5.6% increase in Christmas shopping volume come from? The BoE show consumer deposits remained flat during Q4 and that, although unsecured credit rose in the period by around 3%. this only offset falls in previous quarters of 2013.
How long are people prepared to believe their own lies?
I put it all down to the UK's 'victim culture' pandemic.
Plus if his client's cash is bigger than the jockey's take home for winning the race - well you work it out
twitter.com/tonyfernandes/status/428166589683630081/photo/1
What a mess. Hope it's slowest and not fastest.
Every reader of PB knows you have developed your own language but I am surprised to see it adopt grammatical gender.
Am I right in thinking that "banksta" is the feminine form of "bankster"?
As for my point 2: CCS can take 15-45% of the power of a power station to run, depending on many factors. ISTR this covers everything from scrubbing the gasses to transport. That is one heck of a big energy hit, and is more than enough reason not to use it in power generation.
Point 3: this is allied to point 3. Not only are CCS plants less efficient, but the scrubbers and transport cost more.
See: http://en.wikipedia.org/wiki/Carbon_capture_and_storage#Cost
For my other points: IANAE, but it should be noted that CO2 is not natural gas (which is a mixture of things; alkanes, methane and some CO2). The reservoirs may have stored natural gas for millions of years, but that was before they were made into pincushions and emptied. And if CO2 does degas in a big way, it is much worse - and deadlier - than natural gas as it is slightly heavier than air.
See Lake Nyos for a natural example of this:
http://en.wikipedia.org/wiki/Lake_Nyos#1986_disaster
And how the experts disagree:
As for my point 2: CCS can take 15-45% of the power of a power station to run, depending on many factors. ISTR this covers everything from scrubbing the gasses to transport. That is one heck of a big energy hit, and is more than enough reason not to use it in power generation.
Point 3: this is allied to point 3. Not only are CCS plants less efficient, but the scrubbers and transport cost more.
See: http://en.wikipedia.org/wiki/Carbon_capture_and_storage#Cost
For my other points: IANAE, but it should be noted that CO2 is not natural gas (which is a mixture of things; alkanes, methane and some CO2). The reservoirs may have stored natural gas for millions of years, but that was before they were made into pincushions and emptied. And if CO2 does degas in a big way, it is much worse - and deadlier - than natural gas as it is slightly heavier than air.
See Lake Nyos for a natural example of this:
http://en.wikipedia.org/wiki/Lake_Nyos#1986_disaster
The gas pipeline infrastructure costs money to maintain. That's all good and well when it's used to provide gas for power; it's an added cost when it is used to remove waste.
I don't know what the answer is, but I'm fairly sure it's not large-scale CCS on power generators.
The gas pipeline infrastructure costs money to maintain. That's all good and well when it's used to provide gas for power; it's an added cost when it is used to remove waste.
I don't know what the answer is, but I'm fairly sure it's not large-scale CCS on power generators.
Dirt racing I call it.
Don't knock it.