Comments on: Another review of mortgages – what people need is some money http://johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/ Incisive and topical campaigns and commentary on today's issues and tomorrow's problems Thu, 09 Feb 2012 20:05:58 +0000 hourly 1 By: Acorn http://johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/#comment-2501 Acorn Thu, 10 Apr 2008 09:19:36 +0000 http://www.johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/#comment-2501 Mike, you should have been there in 2004, it was 75 Baht to the Pound then. For amateur currency traders, have a look at <a href="http://fx.sauder.ubc.ca/plot.html" rel="nofollow">http://fx.sauder.ubc.ca/plot.html</a> Mike, you should have been there in 2004, it was 75 Baht to the Pound then.

For amateur currency traders, have a look at
http://fx.sauder.ubc.ca/plot.html

]]> By: Mike Stallard http://johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/#comment-2500 Mike Stallard Wed, 09 Apr 2008 15:09:43 +0000 http://www.johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/#comment-2500 I am writing this in Bangkok. Today we went some 70 km on the railway for just 15B - 65B to the pound. We are staying with my son in a tower block on the 22nd floor. We have our own swimming pool, complete with gourmet restaurant, polite staff, invisible and efficient cleaner, instant rubbish disposal, complete safety, loads of police on the streets and a bearable tax system. The public transport system is fantastic - cheap, efficient and clean and safe. He had to go hospital for three nights. complete cost of treatment, nursing, medicine, wife's bed, everything - L100 per night (6,500B) I think the real trouble, you know, is that the pound is grossly overvalued compared to the Thai B. My real question is this: how do poor people get to work in London on 2,400B a journey whereas here it is only a hundred? I get the feeling myself that you may be moving deck chairs on the Titanic...... I am writing this in Bangkok. Today we went some 70 km on the railway for just 15B – 65B to the pound. We are staying with my son in a tower block on the 22nd floor. We have our own swimming pool, complete with gourmet restaurant, polite staff, invisible and efficient cleaner, instant rubbish disposal, complete safety, loads of police on the streets and a bearable tax system. The public transport system is fantastic – cheap, efficient and clean and safe.
He had to go hospital for three nights. complete cost of treatment, nursing, medicine, wife's bed, everything – L100 per night (6,500B)
I think the real trouble, you know, is that the pound is grossly overvalued compared to the Thai B.
My real question is this: how do poor people get to work in London on 2,400B a journey whereas here it is only a hundred?
I get the feeling myself that you may be moving deck chairs on the Titanic……

]]> By: PLA http://johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/#comment-2499 PLA Wed, 09 Apr 2008 12:35:44 +0000 http://www.johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/#comment-2499 JR: "Whilst market rates often detach from this in current circumstances, a lower Bank rate will tend to create lower mortgage rates than otherwise, so it could help." Some folk have been prudent and tried to save, why should they be penalised? JR: "It should accept as collateral a wider range of assets.." If by "wider range of assets" you mean anything including the second hand kitchen sink, then no it [the bank of england] should not. What the commercial banks would like to offload is the toxic waste that, now the music has stopped they can no longer pass to some other unsuspecting sap. The bank - that is british tax payers - should not be forced to accept this rubbish! JR: “Whilst market rates often detach from this in current circumstances, a lower Bank rate will tend to create lower mortgage rates than otherwise, so it could help.”

Some folk have been prudent and tried to save, why should they be penalised?

JR: “It should accept as collateral a wider range of assets..”

If by “wider range of assets” you mean anything including the second hand kitchen sink, then no it [the bank of england] should not.

What the commercial banks would like to offload is the toxic waste that, now the music has stopped they can no longer pass to some other unsuspecting sap. The bank – that is british tax payers – should not be forced to accept this rubbish!

]]> By: tim holden http://johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/#comment-2498 tim holden Wed, 09 Apr 2008 11:50:06 +0000 http://www.johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/#comment-2498 If interest rates fall, inflation will rise in our import economy. If housing prices fall, bank security will be eroded. We are in between a rock and a hard place, up a certain creek without a paddle, and, seemingly in the hands of a government that has taken a leaf from the book of Marie Antoinette. After suitable consultation it is likely that a new directive will instruct the public to eat cake. If interest rates fall, inflation will rise in our import economy. If housing prices fall, bank security will be eroded. We are in between a rock and a hard place, up a certain creek without a paddle, and, seemingly in the hands of a government that has taken a leaf from the book of Marie Antoinette. After suitable consultation it is likely that a new directive will instruct the public to eat cake.

]]> By: Acorn http://johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/#comment-2497 Acorn Wed, 09 Apr 2008 11:17:42 +0000 http://www.johnredwoodsdiary.com/2008/04/09/another-review-of-mortgages-what-people-need-is-some-money/#comment-2497 John, while you are on holiday, can I recommend some light reading, see link. I have no association with Axel Merk but I have learnt some things from his writings. He and his team are at the front line 24/7. Can I recommend "how the FED lost control of the money supply" from Feb 2007. And; "what's up with Asian currencies" from Mar 2008, for starters. http://www.merkfund.com/merk-perspective/insights/index.html Would appreciate your thoughts on these articles. John, while you are on holiday, can I recommend some light reading, see link.

I have no association with Axel Merk but I have learnt some things from his writings. He and his team are at the front line 24/7.

Can I recommend “how the FED lost control of the money supply” from Feb 2007. And; “what’s up with Asian currencies” from Mar 2008, for starters.

http://www.merkfund.com/merk-perspective/insights/index.html

Would appreciate your thoughts on these articles.

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