politicalbetting.com » Blog Archive » Attention Mark Carney: Marf has some further suggestions fo
politicalbetting.com » Blog Archive » Attention Mark Carney: Marf has some further suggestions for who should be on future banknotes
politicalbetting.com is proudly powered by WordPress
with "Neat!" theme. Entries (RSS) and Comments (RSS).
Comments
-
I like the Ed Miliband one - top centre.0
-
FPT
@JohnO
Mr/Ms. Moderator,
I write as tim's pb carer. My only concern is his welfare. Please don't be too harsh on the lad. Things are pretty tough for him at the moment and they're only likely to get even worse in the months ahead.
Your sympathetic and sensitive treatment will win you many many friends.
I thank you.
JohnO
As tim's registered carer, have you considered applying for a subsidised spare room in which to house him?
It may reduce intra-family disputes although I fear sustained banging of head against the wall if he is left to his own devices.
I understand the government is very accommodating towards such applications,0 -
George will be on the notes... eventually. I may see even see them ! (I am a year and a day older than William)0
-
Marf
Wallace and Grommit best kept for Treasury Bond Certificates.0 -
HRH Baby George and Tinie Tempah have to be out of bounds because they're still alive.
The Eat Less Protein man would make for interesting bank notes:
http://www.inlondonguide.co.uk/images/stories/2_MainMenu/LondonByLondoners/Blog/2011/Eccentrics/stanleygreenoxfordstup.jpg0 -
If George Osborne is smart, he could offer it for sponsorship. With a 'modest contribution' to the cause of deficit reduction, you could have your mugshot on the notes in everyone's pocket.
Could you imagine how smug someone like Tony Blair would be to be staring out of your wallet? You heard it here first folks.0 -
Marf has clearly been inspired by the Happy Royal Event. Productivity seems to be up to record levels.
Fans of her work (few of whom are more enthusiastic than I) who wish to know more about her and her work might be interested in this recent interview.
http://www.cassart.co.uk/interview-cartoonist-marf/0 -
FPT - I was thinking about the various things that have been 'pinned' on the Tories in recent years.
The one that sprung to mind was about fundraising - some not-quite illegal rule bending about campaign funding that exploded around Labour (about 2005-2006) and then as it brewed, you had half a dozen people trying to drag Cameron into it as well.
At the time I remember being awfully het up about it, this will be the end of Blair etc etc
Now? I can barely remember it.
I can't even remember what took the sting out of the Latvian SS thing. I know the 'debate' went "they'll never form their own group", "they'll form it with nutters", "the green group is bigger" and only the last one really still stands (and there's not much in it).
I guess that's the 'bubble' effect for you.0 -
A tenner without Ratty.
Not worth the paper it's not written on0 -
tpfkar said:
If George Osborne is smart, he could offer it for sponsorship. With a 'modest contribution' to the cause of deficit reduction, you could have your mugshot on the notes in everyone's pocket.
Could you imagine how smug someone like Tony Blair would be to be staring out of your wallet? You heard it here first folks.
Surely, Tpfkar, there would have to be a discount on any note bearing St Tony's mugshot?
0 -
I nominate James Gordon Brown, on the same principle which led mediaeval stone masons to put gargoyles on cathedrals - to scare evil spirits away from the currency.0
-
0
-
This is appalling - CCTV pics of the Spanish train crash
http://www.guardian.co.uk/world/video/2013/jul/25/santiago-de-compostela-train-crash-cctv-video0 -
@MikeS - We fight on, we fight to win....ooh, er
I think it safe to say that turnout will be on the low side. Is Wantage South close to Bournemouth West? And are either/both/neither in reasonable proximity to Weybridge South. It's all slightly bewildering.
But the fair maidens and matriarches of the parish will be skipping to the polls once I've knocked them up, starting at 6.00pm. It could be a long evening.0 -
TBH, the way things have been going over the last couple of months 0.6% is at the bottom end of expectations. I would not be surprised to see it increased in due course when more information is in.
It is nice to see construction showing a positive contribution for a change. The next key steps in the recovery of UK plc should be a rise in investment and an improvement in the balance of trade. A rise in investment requires confidence, which is improving; capital, which our private sector has in abundance; credit which is still restricted by the failure to address the thorny issue of banking reform and demand which still remains problematic given the international situation but is improving. If investment grows construction will show this most quickly so it is worth watching that sector.
The moans on here about consumption boomlets and housing bubbles are absurd as any reference to the real, as opposed to the nominal, figures show. It also shows a complete lack of understanding about the absolutely critical role played by housing capital in providing finance to small businesses. The vast majority of our small businesses have their credit facilities backed up by personal guarantees secured over directors/partners houses. House prices have fallen substantially in real terms. This itself has limited the security available to small businesses and their ability to get credit. A recovery in house prices is also critical if our smaller businesses are to get credit to invest and grow.
Balance of trade is proving more difficult, again because of the lack of international demand. I also struggle to think of any country (except Japan) which manages to run a balance of trade surplus with a large public sector deficit pumping demand into the domestic system. I think we will see an improvement in the balance of payments when the deficit falls but these are unusual times. It is fortunate that we have the helmsman we do to steer us through them.
0 -
Chancellor Osborne calmly deals with a despairing , near hysterical , BBC " reporter " .
http://www.bbc.co.uk/news/business-234460560 -
Pulpstar said:
George will be on the notes... eventually. I may see even see them ! (I am a year and a day older than William)
Oh, I think George Osborne is a certainty, Pulpstar, and pretty soon too.
I imagine he will be appearing on the soon to be printed six pound note.
0 -
0
-
Appears to be a small 'explosion' mid train on the left (facing oncoming train).MikeSmithson said:This is appalling - CCTV pics of the Spanish train crash
http://www.guardian.co.uk/world/video/2013/jul/25/santiago-de-compostela-train-crash-cctv-video
0 -
Tinie Tempah?
Only marginally less daft than Julian Assange appearing on the next Ecuadorean 10 Sucres note imho...!
0 -
Although I'm not an Anglican, I think the Welby idea looks good. Rather than just shouting about the "vulnerable" being exploited, they will do something about it.
Compare and contrast ... The left-wing agitators "expose" inequality and demand that other people they don't like do something about it. Job done for them. We even have charities whose main function is to demand that somebody else does something.
I may be doing Owen Jones, Polly Toynbee and Ed Miliband et al an injustice, of course. They may be secretly toiling in London soup kitchens or working with down-and-outs at a hostel. Ralph Miliband may have spent his spare time helping "Help the Aged". If so, well done to them.
But what I do know is that the Sally Army and many other Christian organisations will be doing these things - organisations many of these shouty people dislike and insult.0 -
Some quite startling drug use figs
Christopher Snowdon @cjsnowdon
% of 11-15 yrs old who have taken drugs in last month down from 29% in 2001 to 17% in 2012. pic.twitter.com/IIdeg64AcD
and alcohol
Christopher Snowdon @cjsnowdon
few kids drinking a lot. pic.twitter.com/MWir9B1gKQ
https://pbs.twimg.com/media/BQBXDa6CMAIk4Df.jpg:large
Christopher Snowdon @cjsnowdon
Big difference between mean and median average of underage consumption (in units) suggests that there are a... pic.twitter.com/Mr0AqrOm5f0 -
@JohnO How can they still be maidens after you've knocked them up? Or are Hersham Tories that immaculate?0
-
The BoT is in the poo because of imports - we're still not making enough of what we use and the weak currency means it's more expensive to import it.DavidL said:TBH, the way things have been going over the last couple of months 0.6% is at the bottom end of expectations. I would not be surprised to see it increased in due course when more information is in.
It is nice to see construction showing a positive contribution for a change. The next key steps in the recovery of UK plc should be a rise in investment and an improvement in the balance of trade. A rise in investment requires confidence, which is improving; capital, which our private sector has in abundance; credit which is still restricted by the failure to address the thorny issue of banking reform and demand which still remains problematic given the international situation but is improving. If investment grows construction will show this most quickly so it is worth watching that sector.
The moans on here about consumption boomlets and housing bubbles are absurd as any reference to the real, as opposed to the nominal, figures show. It also shows a complete lack of understanding about the absolutely critical role played by housing capital in providing finance to small businesses. The vast majority of our small businesses have their credit facilities backed up by personal guarantees secured over directors/partners houses. House prices have fallen substantially in real terms. This itself has limited the security available to small businesses and their ability to get credit. A recovery in house prices is also critical if our smaller businesses are to get credit to invest and grow.
Balance of trade is proving more difficult, again because of the lack of international demand. I also struggle to think of any country (except Japan) which manages to run a balance of trade surplus with a large public sector deficit pumping demand into the domestic system. I think we will see an improvement in the balance of payments when the deficit falls but these are unusual times. It is fortunate that we have the helmsman we do to steer us through them.0 -
@tim - Very odd. Do LibDems not want illegal immigrants to leave voluntarily? Would it be less 'disproportionate' to send in heavies to eject them by force?
0 -
Back in 1997BannedInParis said:FPT - I was thinking about the various things that have been 'pinned' on the Tories in recent years.
The one that sprung to mind was about fundraising - some not-quite illegal rule bending about campaign funding that exploded around Labour (about 2005-2006) and then as it brewed, you had half a dozen people trying to drag Cameron into it as well.
At the time I remember being awfully het up about it, this will be the end of Blair etc etc
Now? I can barely remember it.
- New Labour wanted a source of funding independent of the unions.
- The City wanted non-regulation.
Any missing link between those two things would be quite a big deal in historical terms because the non-regulation in London was such a big part of the global credit boom and crunch and all the bad stuff still to come because of it.
0 -
O/T:
The experts must be able to estimate how fast the train was going from this footage:
http://news.sky.com/story/1120288/spain-train-crash-footage-of-disaster-emerges0 -
SeanT said:
I just saw that on Twitter. Horrifyingly fast. Was it meant to be stopping in the station? Crazy.MikeSmithson said:This is appalling - CCTV pics of the Spanish train crash
http://www.guardian.co.uk/world/video/2013/jul/25/santiago-de-compostela-train-crash-cctv-video
I don't think there was a station it was stopping at, it just seems to be that it took the curve in the track way too fast. The explosion noticed by Avery was probably just the electrical connection as the carriage separated from the track/rest of train.0 -
It's a great idea if it comes off.CD13 said:
Although I'm not an Anglican, I think the Welby idea looks good. Rather than just shouting about the "vulnerable" being exploited, they will do something about it.
Compare and contrast ... The left-wing agitators "expose" inequality and demand that other people they don't like do something about it. Job done for them. We even have charities whose main function is to demand that somebody else does something.
I may be doing Owen Jones, Polly Toynbee and Ed Miliband et al an injustice, of course. They may be secretly toiling in London soup kitchens or working with down-and-outs at a hostel. Ralph Miliband may have spent his spare time helping "Help the Aged". If so, well done to them.
But what I do know is that the Sally Army and many other Christian organisations will be doing these things - organisations many of these shouty people dislike and insult.0 -
I have just seen the same CCTV clip shown on television. It looked as though the third (?) carriage (above the 'explosion') had already derailed or, at least, was raised above the level of the others at the time of the crash.JonathanD said:SeanT said:
I just saw that on Twitter. Horrifyingly fast. Was it meant to be stopping in the station? Crazy.MikeSmithson said:This is appalling - CCTV pics of the Spanish train crash
http://www.guardian.co.uk/world/video/2013/jul/25/santiago-de-compostela-train-crash-cctv-video
I don't think there was a station it was stopping at, it just seems to be that it took the curve in the track way too fast. The explosion noticed by Avery was probably just the electrical connection as the carriage separated from the track/rest of train.
0 -
Smug bastard alert ...
Going to Chicago today with the family. All 5 of us have been upgraded to Biz.
I love BA!0 -
The curve looks quite sharp, hence the 80kmh speed limit; this part of the line follows the old route, i.e. it's not a new section of track designed for high-speed trains. Of course this is why UKIP's idea of high-speed trains along the existing tracks in the UK is a non-starter.JonathanD said:I don't think there was a station it was stopping at, it just seems to be that it took the curve in the track way too fast. The explosion noticed by Avery was probably just the electrical connection as the carriage separated from the track/rest of train.
0 -
AveryLP said:
It looked as though the third (?) carriage (above the 'explosion') had already derailed or, at least, was raised above the level of the others at the time of the crash.JonathanD said:SeanT said:
I just saw that on Twitter. Horrifyingly fast. Was it meant to be stopping in the station? Crazy.MikeSmithson said:This is appalling - CCTV pics of the Spanish train crash
http://www.guardian.co.uk/world/video/2013/jul/25/santiago-de-compostela-train-crash-cctv-video
I don't think there was a station it was stopping at, it just seems to be that it took the curve in the track way too fast. The explosion noticed by Avery was probably just the electrical connection as the carriage separated from the track/rest of train.
That's what it looked like to me too. Horrific for those on board or who were first on the scene to try and rescue survivors.
0 -
Dare I suggest that it's a practical example of the Big Society? A voluntary organisation coming to the aid of the poor and vulnerable.MrJones said:
It's a great idea if it comes off.CD13 said:
Although I'm not an Anglican, I think the Welby idea looks good. Rather than just shouting about the "vulnerable" being exploited, they will do something about it.
Compare and contrast ... The left-wing agitators "expose" inequality and demand that other people they don't like do something about it. Job done for them. We even have charities whose main function is to demand that somebody else does something.
I may be doing Owen Jones, Polly Toynbee and Ed Miliband et al an injustice, of course. They may be secretly toiling in London soup kitchens or working with down-and-outs at a hostel. Ralph Miliband may have spent his spare time helping "Help the Aged". If so, well done to them.
But what I do know is that the Sally Army and many other Christian organisations will be doing these things - organisations many of these shouty people dislike and insult.
0 -
SouthamObserver said:
Smug bastard alert ...
Going to Chicago today with the family. All 5 of us have been upgraded to Biz.
I love BA!
Chicago is a great city - have fun.0 -
Illegal immigration is mostly driven by employers who get people to come on student or tourist visas and then put them to work in their chain of restaurants, petrol stations, shops, fast food outlets etc. It makes the employers a lot of money but has an obvious effect on employment, housing, tax etc.
The easiest way to deal with it would be to target one of these employers and on conviction very publicly seize all their assets as proceeds of crime. You'd only need to do a dozen or so - if that many - before the rest would stop.
Result
+ employment - especially youth
+ housing
+ tax
- benefit fraud
etc
0 -
I'd say so.Cyclefree said:
Dare I suggest that it's a practical example of the Big Society? A voluntary organisation coming to the aid of the poor and vulnerable.MrJones said:
It's a great idea if it comes off.CD13 said:
Although I'm not an Anglican, I think the Welby idea looks good. Rather than just shouting about the "vulnerable" being exploited, they will do something about it.
Compare and contrast ... The left-wing agitators "expose" inequality and demand that other people they don't like do something about it. Job done for them. We even have charities whose main function is to demand that somebody else does something.
I may be doing Owen Jones, Polly Toynbee and Ed Miliband et al an injustice, of course. They may be secretly toiling in London soup kitchens or working with down-and-outs at a hostel. Ralph Miliband may have spent his spare time helping "Help the Aged". If so, well done to them.
But what I do know is that the Sally Army and many other Christian organisations will be doing these things - organisations many of these shouty people dislike and insult.0 -
Yup. The CoE have been very long on windy rhetoric [and wringing their hands in NewStatesman] - and at last here is something practical rather than demanding it of others. I wish them well.Cyclefree said:
Dare I suggest that it's a practical example of the Big Society? A voluntary organisation coming to the aid of the poor and vulnerable.MrJones said:
It's a great idea if it comes off.CD13 said:
Although I'm not an Anglican, I think the Welby idea looks good. Rather than just shouting about the "vulnerable" being exploited, they will do something about it.
Compare and contrast ... The left-wing agitators "expose" inequality and demand that other people they don't like do something about it. Job done for them. We even have charities whose main function is to demand that somebody else does something.
I may be doing Owen Jones, Polly Toynbee and Ed Miliband et al an injustice, of course. They may be secretly toiling in London soup kitchens or working with down-and-outs at a hostel. Ralph Miliband may have spent his spare time helping "Help the Aged". If so, well done to them.
But what I do know is that the Sally Army and many other Christian organisations will be doing these things - organisations many of these shouty people dislike and insult.0 -
Alex Wickham @WikiGuido
"Crosby will be the story between now and polling day" says Watson. If Labour actually think that then slash the odds on a Tory majority...0 -
PoliticsHome @politicshome
.@GrantShapps writes to @Ed_Miliband calling for Labour's review into the Falkirk row to be published. http://polho.me/13HbLOm
Funny ;-)0 -
From Sam at the ASI http://www.adamsmith.org/blog/money-banking/the-wonga-delusion
The Church of England’s plan to drive payday lenders like Wonga out of business by competing with them is wonderful. After years of politicians demanding ‘action’ on the payday loan industry, an organization has finally decided to tackle this perceived social evil by giving people a better alternative, not trying to legislate problems away.
Critics of payday lenders quote the loans’ astronomical APRs — Wonga’s representative APR is 5853%. But this is extremely misleading. Representative APR is designed to show interest-on-interest compounding over a year, and is an inappropriate measure to use for a loan whose term is a month or so. A Wonga loan does not and cannot compound for longer than 60 days beyond the initially agreed loan period (which can be between 1 and 46 days).
Borrowing £200 over 46 days accrues £100.03 in interest and fees, an effective interest rate of 50% over this period. After this point, interest only continues to accrue for 60 days, after which point it stops. It simply does not make sense to look at representative APR for a short-term product that does not keep compounding for long enough for anything like that APR to ever apply.
No Wonga borrower can end up with a 5853% interest rate – the existence of this rate is just an quirk of our financial regulations which require all lenders to express their rates in annualized terms. Journalists and politicians who report this 5853% APR figure as the ‘standard’ Wonga rate are mistaken and are misleading the public.
The real problem is that people are poor enough to have to rely on these sorts of lenders. Wonga et al only exist because their customers have no better alternative. Before the emergence of the formal payday loan sector, people had to rely on tattooed guys with a Rottweiler who’d happily break your legs to recover their investment. Nobody wants to borrow from a firm like Wonga, but they're a damn sight better than the existing alternatives.
The Archbishop of Canterbury appears to recognise this. Giving people more choices by offering a cheaper alternative is the sensible way to help payday borrowers.
0 -
He didn't know what was going on at the desk a few feet from his at Number 10.Plato said:Alex Wickham @WikiGuido
"Crosby will be the story between now and polling day" says Watson. If Labour actually think that then slash the odds on a Tory majority...
Treat that prediction with the humour it deserves.
0 -
Blimey http://www.thetimes.co.uk/tto/health/news/article3825001.ece
More than 300,000 youngsters took “hippy crack” last year as it became a craze at festivals and concerts, according to official drug figures published today.
The craze for inhaling nitrous oxide — also known as laughing gas, N2O and sweet air — provides users with feelings of intense euphoria that some have likened to the effects of heroin and crack cocaine.
Often sold to youngsters in balloons for £2 or less, it is now, according to the figures, second only to cannabis as the most popular drug among 16 to 24-year-olds. Nitrous oxide can be bought online by buying “whipped cream canisters” .0 -
More stats
Overall, drug use continues to fall in England and Wales with just under three million 16 to 59-year-olds saying that they took drugs in the last year. Cannabis remains the most popular drug, followed by powder cocaine and Ecstasy. Young adults aged 16-24 were most likely to have used drugs, according to the findings from the Crime Survey of England and Wales for 2012-13.
About one young person in six took illegal drugs in the 12 months, down from almost one in five the year before. The long-term trend in use of Class A drugs among 16 to 24-year-olds, including heroin and cocaine, fell, largely because of a reduction in the use of Ecstasy, LSD and magic mushrooms.
Cannabis use among all adults is now at the lowest level since measurement began 16 years ago. More than 13 per cent of youngster aged 16-24 used cannabis, down from its peak of of 28 per cent in 1998.0 -
.
Alanbrooke said:
The BoT is in the poo because of imports - we're still not making enough of what we use and the weak currency means it's more expensive to import it.
No, I think the major problem is still on the demand side. A government pumping the thick end of £10bn a month into our economy that it is not taking out in taxes inevitably means demand and consumption are too high. Unless that is off set by an increase in production of at least the same amount (probably more due to multiplier effects) we will inevitably suck in imports.
Reducing government borrowing will therefore reduce the trade deficit. If we want to be better off and consume even more in the future then you are clearly right that we need to make and sell more.0 -
Nigel Farage has set out his vision for his dream Westminster seat, describing a bungalow town filled with “good ordinary people”. The UKIP leader announced in May that he would try again to become an MP at the next general election.
...Asked to paint a picture of the demographic, he offered something close to a textbook definition of Middle England. It would be a place with “relatively high owner-occupiers but relatively average house price”, he said.
There would be a “fair proportion” of self-employed people and “probably” plenty of bungalows. “It would all be people paying their own way in life,” he said. “Drawing a pension, yes, that they’d paid in for. But absolutely self-supporting, self-reliant.” Hinting that he might pick one of the coastal regions where UKIP has performed well, he continued: “What’s become really interesting is the phenomenon that no one has really noticed, which is that by accident we’re becoming the seaside party.”
A likely candidate for Mr Farage’s own battle is Boston & Skegness, held by Mark Simmonds, the Conservative Foreign Office Minister. Others include the coastal seats of North Thanet and South Thanet, or Great Yarmouth. http://www.thetimes.co.uk/tto/news/politics/article3824595.ece0 -
Surely this is an obvious area for credit unions and community banks? If the CoE is willing to give them a helping hand then they are to be commended but I think they would be better placed giving some start up capital and organisation to get credit unions going.Plato said:From Sam at the ASI http://www.adamsmith.org/blog/money-banking/the-wonga-delusion
The Church of England’s plan to drive payday lenders like Wonga out of business by competing with them is wonderful. After years of politicians demanding ‘action’ on the payday loan industry, an organization has finally decided to tackle this perceived social evil by giving people a better alternative, not trying to legislate problems away...
The real problem is that people are poor enough to have to rely on these sorts of lenders. Wonga et al only exist because their customers have no better alternative. Before the emergence of the formal payday loan sector, people had to rely on tattooed guys with a Rottweiler who’d happily break your legs to recover their investment. Nobody wants to borrow from a firm like Wonga, but they're a damn sight better than the existing alternatives.
The Archbishop of Canterbury appears to recognise this. Giving people more choices by offering a cheaper alternative is the sensible way to help payday borrowers.
0 -
Perry's Porn.
Which of the following images should Dave be weeding out (if any)? They are all the works of well known artists and a photographer. Do any Tories on here know what he has in his mind?
http://farm5.staticflickr.com/4112/4843353721_7d2e07905b_b.jpg
MODERATED
http://m2.paperblog.com/i/120/1200611/giuseppe-veneziano-_-intervista-con-lartista-L-yh1cyX.jpeg
http://anatomika.net/wp-content/uploads/2011/07/LidiaKochetkovaOlesyaYarokhinabyDavidHamiltonSistersSoonInternational2011-ANATOMIKA-15.jpg
0 -
The CCTV footage of the Spanish train derailment is truly shocking,but it will be analysed intensely frame by frame,and will give clues to the cause.
As an uninformed observer,it does look to be very fast,and there was clearly a disruption from one of the carriages behind the main cab.
The Film footage of the diastrous shuttle launch,eventually led the investigators to the O ring failure on one of the solid boosters,I am sure they will find the cause of this derailment,hopefully not terror related.0 -
Link to evidence ?MrJones said:Illegal immigration is mostly driven by employers who get people to come on student or tourist visas and then put them to work in their chain of restaurants, petrol stations, shops, fast food outlets etc. It makes the employers a lot of money but has an obvious effect on employment, housing, tax etc.
0 -
The CoE's plan seems interesting but what happens when people can't or won't pay back the loans. Will the CoE send the bailiffs round?0
-
FPT @Plato
Archbishop Wonga may well have difficulties establishing a sustainable credit lending scheme.Plato said:I'm intrigued by the CoE's ambition re credit unions it's the first sensible thing I've heard ArchWelby say. Not keen on his rhetoric when attacking Wonga 'put them out of business' - it's a business providing a service to those who can't go elsewhere.
If the CoE can use churches and its school premises as branch outlets for small loans at better rates - great.
When consumer loans carry an interest rate which exceeds prevailing market rates by a wide margin this more often indicates that the lender has a high cost base rather than that he is making excessive profits.
Revolving credit cards are intermediate examples. Interest rates are not set as a margin above interbank or base rates (even though they may be advertised as such). The core cost drivers are fraud losses (say 0.5% to 1.5% of outstandings), write offs for bad debt (say 1.5% - 4.5%), and cross subsidies between cardholders.
Cross subsidies work as follows. In an average credit card portfolio, one third of customers will 'never borrow'. They take advantage of the max 45-60 day credit free period between transaction date and payment due date, but pay off the full monthly amount due each month. Another third only pays off the statutory minimum of 5% of their outstanding loan balance each month. And the final third pays somewhere between 5% and the total amount outstanding. Interest is only paid at the full APR rate by the third who 5% of the outstanding credit balance. This group is therefore 'subsidising' the other two thirds. The group which benefits most are those who pay off the entire balance each month: they are effectively getting 'free' credit paid for by the 'borrowers'.
The 'brick and mortar' costs of mainstream consumer credit lending are minimal. Most schemes are operated independently of a bank's branch network from a single national computer centre and offshore call centre. There is very little face to face human interaction between lender and borrower.
[to be continued]0 -
@Plato
[...continued]
When lending at the credit risk margin - i.e. very short term loans to high risk borrowers - then not only are bad debt losses likely to be much higher but the collection process will also require a much more distributed, local and face to face (i.e. expensive) network. So 'payday loans' have to operate with a much higher cost base and the repayers have to cross subsidise a much larger proportion of non-repayers.
There may well be a role for the Church to play in this market. They have a fully funded local distribution network in place. Additionally the Church's existing pastoral role may make it easier for a Church affiliated staff to collect or renegotiate payment terms than would be the case for an impersonal company perceived as hostile. However this assumption needs to be well tested by research and piloting before it can be accepted as valid.
The Church may also claim it can reduce interest rates because it does not need to turn a profit on its operations. Again this assumption will need careful testing. The counter arguments are that non-profit organisations tend to be less hard headed with costs and still need to generate surpluses to remain sustainable.
For the above reasons, I doubt whether the Church's involvement will lead to lower interest rates for borrowers. The business model for lending short to high risk borrowers is well established and there won't be much room for radical remodelling of the dynamics.
What the Church's involvement may achieve is a lessening of the stigma attached to payday loans and an increase in pressure on commercial operators who are abusing their customers. I suspect though this is more a PR initiative by Welby than a real business proposal: unless a major bank steps in to back the operation.0 -
On topic. Jane Austen fans from all over the world , every literate woman , will want to have a genuine British note as a souvenir which they will keep rather than spend . I'm guessing that this will have a positive impact on the UK economy.0
-
Alanbrooke said:DavidL said:.
The BoT is in the poo because of imports - we're still not making enough of what we use and the weak currency means it's more expensive to import it.
No, I think the major problem is still on the demand side. A government pumping the thick end of £10bn a month into our economy that it is not taking out in taxes inevitably means demand and consumption are too high. Unless that is off set by an increase in production of at least the same amount (probably more due to multiplier effects) we will inevitably suck in imports.
Reducing government borrowing will therefore reduce the trade deficit. If we want to be better off and consume even more in the future then you are clearly right that we need to make and sell more.
It's a fine balance. If he sucks too much demand out he crashes the economy till it finds its new floor, maybe that's the right thing to do as it gets the pain over fast, but he'll never get re-elected in a month of Sundays. So it's walk down the hill rather than jump off a cliff. And since we're taking that path we need more domestic production to counter balance imports. It's infrastructure and capital investment rather than house price inflation, and why I argue for reform rather than GO's box of gimmicks.0 -
Maybe they won't lend you money unless you're CRB checked first.tim said:Garethofthevale said:The CoE's plan seems interesting but what happens when people can't or won't pay back the loans. Will the CoE send the bailiffs round?
Plagues of frogs and locusts I'd imagine0 -
I don't think the CoE goes in for hell fire and brimstone. The whole damnation thing smacks too much of Judgement, and that's a bad thing. We shouldn't judge; we should understand.tim said:Garethofthevale said:The CoE's plan seems interesting but what happens when people can't or won't pay back the loans. Will the CoE send the bailiffs round?
Plagues of frogs and locusts I'd imagine
Perhaps they'll give those in arrears a disapproving look, maybe combined with a raised eyebrow for serious cases.0 -
The CCTV is truly shocking. The drivers phone call is also puzzling -- was there some problem with the brakes that prevented the train from slowing down? I thought there were automated gizmos that prevented trains from exceeding the posted limit these days.0
-
Electrical short, possibly from a HV inter-carriage bus or the overhead HV lines.AveryLP said:
Appears to be a small 'explosion' mid train on the left (facing oncoming train).MikeSmithson said:This is appalling - CCTV pics of the Spanish train crash
http://www.guardian.co.uk/world/video/2013/jul/25/santiago-de-compostela-train-crash-cctv-video
In my inexpert view, I'd say that train was going way too fast for that radius of curve. That's the easy bit. The next question is why. Driver brain-fade or technical failure.
Apparently that stretch of line was not fitted with ETRMS which may have stopped driver error. It may not have helped if the cause was a technical failure on the train.
A horrific tragedy.
https://en.wikipedia.org/wiki/European_Rail_Traffic_Management_System0 -
FPT:
New UKPR polling average:
Lab 38%
Con 32%
LD 10%
http://ukpollingreport.co.uk/
Gives Labour a projected majority of 76 which is obviously 38 seats over the winning post — not an enormous number of seats to play with at this stage.0 -
Personal experience listening to shop and petrol station workers complaining about the gang problem.MarkSenior said:
Link to evidence ?MrJones said:Illegal immigration is mostly driven by employers who get people to come on student or tourist visas and then put them to work in their chain of restaurants, petrol stations, shops, fast food outlets etc. It makes the employers a lot of money but has an obvious effect on employment, housing, tax etc.
Easily testable.0 -
If the Church of England is going to venture into financial services, it could give a whole new meaning to the Alpha course.0
-
There may well be a role for the Church to play in this market.
I can't wait to see what Welby comes up with.
I'm particularly looking forward to reading the reports of strongarm deacons crowbarring cash out of the inevitable welter of defaults.
Why do people think Wonga's rates are so high FFS?
0 -
Can anyone think of a response to Crick's tweet that doesn't include "so f******* what ? "
Michael Crick @MichaelLCrick 42m
TheCityUK, group which promotes City of London + financial services, confirm they still employ Lynton Crosby's firm on "consumer research"0 -
"Dearly beloved, we are gathered here today in the sight of God, and in the face of this congregation, to join together this Man and this Woman in holy Matrimony, but first I must inform you that the Church of England is regulated by the Financial Conduct Authority. Information in this service does not constitute an offer or solicitation to conduct investment or banking business in any jurisdiction other than the UK. Prayers may be recorded for your protection."0
-
No surprise that UKIP is becoming the seaside party when you consider this question: where would a member of the chattering classes be least likely to be seen under any circumstances? Skegness, Yarmouth and Ramsgate would probably be at the top of the list.0
-
@RichardNabavi "Souls can go down as well as up".0
-
I think Mr Welby is going to have an enlightening experience when his polite letters regarding debt collection go unanswered.
0 -
@Alanbrooke
All you say about the balance of trade is true. But..don't think of the BoT as all about manufactures.
The biggest thing we can relatively easily do to increase exports is through tourism - and here the new governor at the BoE is helping through weakening the pound, which helps manufactured export compettitveness too.
On imports our biggest gap is in energy. This is not easy to resolve quickly and the main cuplrit is whoever was minister fro energy over the last 15 years. Shale will help alot as will maintaining efficiency drives for vehicles, homes, commercial industrial use. I'm afraid a high tax take on fuel also helps suppress demand - so that's a hot potato for cost of living reasons.0 -
It seems that some of you don't watch satellite TV reality programmes:
http://en.wikipedia.org/wiki/Amish_Mafia0 -
It would keep the pension industry busy.antifrank said:If the Church of England is going to venture into financial services, it could give a whole new meaning to the Alpha course.
Calculating pension contributions on an actuarial assessment of everlasting life would be challenging.
0 -
This Michael Crick ?TGOHF said:Can anyone think of a response to Crick's tweet that doesn't include "so f******* what ? "
Michael Crick @MichaelLCrick 42m
TheCityUK, group which promotes City of London + financial services, confirm they still employ Lynton Crosby's firm on "consumer research"
" On 24 February 2008, the News of the World newspaper reported that Crick had a six month affair with Jeanette Eccles, a former BBC researcher. The paper ridiculed Crick for presenting himself as a moral crusader when his own behaviour was unethical. He was also criticised for trying to prevent the publication of the story on the grounds of privacy while he was making a living from exposing the wrongdoings of others. "
A clown . To be laughed at.
0 -
"Souls can go down as well as up".
"Your salvation is at risk if you do not keep up payments on a loan or loans secured thereon....."0 -
That is (I understand from my actuarial acquaintances) entirely doable. When I last saw projections of this type, the cost of an eternal pension was only about double that of a normal one - but that was a few years back now. Neil may be able to comment more usefully.AveryLP said:
It would keep the pension industry busy.antifrank said:If the Church of England is going to venture into financial services, it could give a whole new meaning to the Alpha course.
Calculating pension contributions on an actuarial assessment of everlasting life would be challenging.0 -
Courtesy of UK GENERAL ELECTION 2015
7 COUNCIL BY ELECTIONS TODAY
Click the links below to find the information for the council by election you are interested in.
Each link gives you the list of candidates, Past results, ward map and ONS data.
BRAINTREE - BRAINTREE EAST COUNCIL BY ELECTION
EAST NORTHAMPTONSHIRE - THRAPSTON MARKET COUNCIL BY ELECTION
ELMBRIDGE - Weybridge South COUNCIL BY ELECTION
KINGSTON-UPON-THAMES - Beverley COUNCIL BY ELECTION
LAMBETH - TULSE HILL COUNCIL BY ELECTION
NORTH SOMERSET - Weston-Super-Mare North Worle COUNCIL BY ELECTION
UTTLESFORD - FELSTED COUNCIL BY ELECTION
CANDIDATES CONSIST OF.
7 CONSERVATIVES
7 UKIP
6 LABOUR
5 LIB DEM
4 INDYS
3 GREENS
1 TUSC
1 SOCIALIST
Also if you wish to take part in a online poll that election is on today
http://voteyourgoat.com/election0 -
Whitstable serves very good Oysters. The Royal Native Oyster Stores is a fine restaurant and well worth a detour.Andy_JS said:No surprise that UKIP is becoming the seaside party when you consider this question: where would a member of the chattering classes be least likely to be seen under any circumstances? Skegness, Yarmouth and Ramsgate would probably be at the top of the list.
http://www.whitstableoystercompany.com/
Fine lobster, oysters and conversation. And not a kipper in sight.
0 -
I'm afraid Patrick you're only highlighting why we need to get some of our productive capacities back quick. With oil on the decline for the long term if we don't start covering more of our bills through our own work we'll be stuck with a huge hole. The issue facing UK plc atm is the damage done to industrial sectors during Blair. We've had a permanent and needless reduction in our manufacturing base. We need to rebuild that hole to cover the bills since we can't just borrow forever and services can't do enough to fill the gap. Normally people jump up and down at this point and say something meaningless like China, but large slices of our imports come from medium to high cost countries ( EU mostly ) and are low to medium tech items ( fridges, cars, food ). If we restore what we had then we can get out of the mess.Patrick said:@Alanbrooke
All you say about the balance of trade is true. But..don't think of the BoT as all about manufactures.
The biggest thing we can relatively easily do to increase exports is through tourism - and here the new governor at the BoE is helping through weakening the pound, which helps manufactured export compettitveness too.
On imports our biggest gap is in energy. This is not easy to resolve quickly and the main cuplrit is whoever was minister fro energy over the last 15 years. Shale will help alot as will maintaining efficiency drives for vehicles, homes, commercial industrial use. I'm afraid a high tax take on fuel also helps suppress demand - so that's a hot potato for cost of living reasons.0 -
Nice of you to leave UKIP out of the equation, but then you would, wouldn't you?Andy_JS said:FPT:
New UKPR polling average:
Lab 38%
Con 32%
LD 10%
http://ukpollingreport.co.uk/
Gives Labour a projected majority of 76 which is obviously 38 seats over the winning post — not an enormous number of seats to play with at this stage.0 -
:Busy searching youtube for an episode of the Monty Python sketch 'The Bishop':TGOHF said:I think Mr Welby is going to have an enlightening experience when his polite letters regarding debt collection go unanswered.
0 -
If churches want to go into finance one thing they could be helping with using their large, trusted international organisation is overseas remittances. British banks are shutting down the accounts of remittance firms because they're scared of getting shut down for money-laundering or something. Apparently a lot of people in Africa depend on these remittances. The churches could do a kind of Christian version of hawala.
http://www.economist.com/news/middle-east-and-africa/21581995-western-worries-about-money-laundering-are-threatening-economic-lifeline?fsrc=scn/tw_ec/let_them_remit0 -
Once God had gained control of the financial services industry, he would render Neil redundant by eliminating inflation.AveryLP said:
It would keep the pension industry busy.antifrank said:If the Church of England is going to venture into financial services, it could give a whole new meaning to the Alpha course.
Calculating pension contributions on an actuarial assessment of everlasting life would be challenging.
0 -
Does Mr Flashman (Deceased) get a pension? He might know.antifrank said:
That is (I understand from my actuarial acquaintances) entirely doable. When I last saw projections of this type, the cost of an eternal pension was only about double that of a normal one - but that was a few years back now. Neil may be able to comment more usefully.AveryLP said:
It would keep the pension industry busy.antifrank said:If the Church of England is going to venture into financial services, it could give a whole new meaning to the Alpha course.
Calculating pension contributions on an actuarial assessment of everlasting life would be challenging.0 -
Excellent. It has been a while but are we not supposed to be storing our treasure in heaven?RichardNabavi said:"Dearly beloved, we are gathered here today in the sight of God, and in the face of this congregation, to join together this Man and this Woman in holy Matrimony, but first I must inform you that the Church of England is regulated by the Financial Conduct Authority. Information in this service does not constitute an offer or solicitation to conduct investment or banking business in any jurisdiction other than the UK. Prayers may be recorded for your protection."
Or something?
Perhaps Charles could advise on the Basel II implications of this.
0 -
PLEASE PROVIDE THE LINK TO YOUR QUOTEMonikerDiCanio said:
This Michael Crick ?TGOHF said:Can anyone think of a response to Crick's tweet that doesn't include "so f******* what ? "
Michael Crick @MichaelLCrick 42m
TheCityUK, group which promotes City of London + financial services, confirm they still employ Lynton Crosby's firm on "consumer research"
" On 24 February 2008, the News of the World newspaper reported that Crick had a six month affair with Jeanette Eccles, a former BBC researcher. The paper ridiculed Crick for presenting himself as a moral crusader when his own behaviour was unethical. He was also criticised for trying to prevent the publication of the story on the grounds of privacy while he was making a living from exposing the wrongdoings of others. "
A clown . To be laughed at.0 -
Unfortunately I didn't get a " final reckoning" pension.Gerry_Mander said:
Does Mr Flashman (Deceased) get a pension? He might know.antifrank said:
That is (I understand from my actuarial acquaintances) entirely doable. When I last saw projections of this type, the cost of an eternal pension was only about double that of a normal one - but that was a few years back now. Neil may be able to comment more usefully.AveryLP said:
It would keep the pension industry busy.antifrank said:If the Church of England is going to venture into financial services, it could give a whole new meaning to the Alpha course.
Calculating pension contributions on an actuarial assessment of everlasting life would be challenging.0 -
0
-
Makes you wonder what the CoE's website might be called
Loans 4 believers?
Cash 2 Cassock?0 -
Now we have an financially savvy ex-oil executive as Cantuar, do you think the Tories could privatise the Church of England?0
-
PBModerator said:
PLEASE PROVIDE THE LINK TO YOUR QUOTEMonikerDiCanio said:
This Michael Crick ?TGOHF said:Can anyone think of a response to Crick's tweet that doesn't include "so f******* what ? "
Michael Crick @MichaelLCrick 42m
TheCityUK, group which promotes City of London + financial services, confirm they still employ Lynton Crosby's firm on "consumer research"
" On 24 February 2008, the News of the World newspaper reported that Crick had a six month affair with Jeanette Eccles, a former BBC researcher. The paper ridiculed Crick for presenting himself as a moral crusader when his own behaviour was unethical. He was also criticised for trying to prevent the publication of the story on the grounds of privacy while he was making a living from exposing the wrongdoings of others. "
A clown . To be laughed at.
Crick's biography according to Wikipedia ;
http://en.wikipedia.org/wiki/Michael_Crick#cite_note-10
Dennis Pennis was a funnier clown.
0 -
Soul converters.Slackbladder said:Makes you wonder what the CoE's website might be called
Loans 4 believers?
Cash 2 Cassock?
On a more relevant point, perhaps this might be a way of filling the pews. If people were well known within the community, the church would probably be more willing to give them loans.0 -
"I think Mr Welby is going to have an enlightening experience when his polite letters regarding debt collection go unanswered."
Ah, yes but ... Nobody expects The Spanish Inquisition!
0 -
Loans 4 believers?
Cash 2 Cassock?
' The Finance Font?'
0 -
F1: apparently there were rumours Hulkenberg could leave Sauber after Hungary. Anyway, he's said that's nonsense:
http://www.espn.co.uk/sauber/motorsport/story/117829.html0 -
It's UKPR who leave UKIP out of the equation, not me.MikeK said:
Nice of you to leave UKIP out of the equation, but then you would, wouldn't you?Andy_JS said:FPT:
New UKPR polling average:
Lab 38%
Con 32%
LD 10%
http://ukpollingreport.co.uk/
Gives Labour a projected majority of 76 which is obviously 38 seats over the winning post — not an enormous number of seats to play with at this stage.
0 -
Yoofs drift away from the left
http://blogs.telegraph.co.uk/news/matthewholehouse/100228127/the-liberal-democrat-student-base-has-evaporated/
" if only those 24 and under were allowed to vote, we forecast David Cameron would be PM with a healthy majority of 46 and 44 per cent of the vote – a greater share of the general vote than Thatcher or Blair ever enjoyed.
Labour would gain 18 seats off 36 per cent of the vote, but remain in opposition. And all that would remain of the Liberal Democrats, with 4 per cent of the vote, would be Alistair Carmichael, Member for Orkney and Shetland. "0 -
@AveryLP I would have thought that most Tories were antidisestablishmentarianists.0
-
Yoofs drift away from the left
I've noticed a few articles on the strange re-emergence of the lesser spotted young conservative.
Is it real and/or significant in any way?0
![[Deleted User]](https://wd.vanillicon.com/d2ea526b1b06ed109333f390c7ae956b_100.png)
