Keep your home

Everyone agrees that the housing market needs to stabilize before things can get better.

People are usually made reduntant because governments have not managed the respective exconomies like a prudent housewife would, not because of their work attitude.

Yesterday the Spanish Government extended their partial postponement of mortgages to three years from two for the unemployed and for people who are having difficulty meeting mortgage commitments, the economy ministry said in.

The measure will allow those worst hit by the Spanish economic downturn to postpone part of their mortgage payments for three years.

The government also announced it will extend and make more flexible the loans offered to small and medium sized businesses by state-owned credit agency ICO

By banks repossing houses it brings more properties onto the property market thus bringing house price down placing more families with negative equity, and more risk to the banking system.

The Spanish governments example will mean that the property market will establish a floor sooner and hopefully start to increase in value sooner. It is better for families to pay a mortgage for a few more years than loose their home and all the trauma that goes with it in finding a place to rent and moving all their furniture and belongings.

I don´t know if the English Prime Minister George Brown or the American President Barack Obama have a similar plan? If not I think that it would be worth considering as it is America that led the world into this crisis with their housing problem. Had they had such a scheme in place a few years ago maybe the world may never have got into this mess!

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Canadian Pharmacy and Glavmed: An Open Letter To Law Enforcement, The FTC And The FDA

Chapter two ”Owlhoots”

Chapter two ”Owlhoots”

U.S. hedge fund reaps big RBS profit whilst British pensioners in Europe are below the poverty line

It is said that 350,000 British pensioners live in Spain. One has seen his state pension drop from 410 euros (for 4 weeks) over the last twenty months to 290 euros ($406). It should be noted that he is not on the full state pension for having been invalided out of the army after service in Korea he was told that he did not have to make contributions, something that the Department for Work and Pensions changed their mind on after several years which resulted in a short fall in his contributions. A similarly aged pension (a former RAF intelligence officer) who wrote to this department about his difficulty received an insulting letter from a Civil servant stating "there is no legal requirement to help pensioners. The Governments priority is to help pensioners living in this country (England) and it will continue to help them so they are able to have a decent income." (reported in The Olive Press). It is estimated that at least 5% of pensioners will have to return to England putting a burden on that country, but I personally believe that it will be much higher.

Perhaps there should be a common European Union pension where all pensioners receive the same basic pension. English pensioners that were not claiming the heating allowance before they retired do not get it whilst pensioners that moved to Spain or another European country do not. What happened to equality?

Who is to blame? The people that speculate in currencies and secondly the English Government/Bank of England for the possible mismanagement of the sterling weakness. Should the Governer of England King not have reduced interest rates at the same time as the Fed in the USA?

George Soros is still speculating in sterling saying today that he had stopped betting on sterling at $1.40 and can be blamed for sterlings weakness. Jim Rogers makes alarmist remarks about the UK (possibly to line his own pockets) and U.S. hedge fund Paulson & Co's profit (short selling), which could have topped 270 million pounds if it sold all its RBS (RBS.L) position, Other short sellers of UK bank stocks could have been in part to blame for the collapse in their share prices and the resulting talk of nationalisation which further weakened sterling. Of course Sir Frank Goodwin (or will it be Frank Goodwin) comes into the equation for his running of RBS allowing Paulson & Co's to short the banks shares!

We did write to Bloomberg suggesting that the word Nationalisation should not be used by them for at least a month and I have only heard it mentioned once (not forcefully) and it does not appear to have been on the ticker tape. The share price of UK banks appeared to have recovered by over 100%

Should Sir Fred Goodwin be stripped of his knighthood?

We have mentioned this about a week ago and now there is an article By Tony Bonsignore | 14:10:32 | 27 January 2009 HERE. where you can leave your views or on this blog

I think that the consensus of opinion in the comments is that Sir Frank Goodwin should be stripped of his knighthood for diservice to the banking industry, but the it might be difficult for shareholders to reclaim his bonuses, but should there nof be a class action as in my opinion the shareholder that took up the entitlement in the first right issue for 12 bn pounds were mislead about the finances of Royal Bank of Scotland

The Prime Minister of England George Brown is ANGRY with him as are the shareholders and the employees of the bank.

Chapter 1 "The ambush"

Chapter 1 "The ambush"

Bernie Madoff

How to Ponzi Proof Your Portfolio (22 January 2009)

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5 Ways to Ponzi proof your portfolio and sleep well at night.

I've been in the financial arena for over 30 years. I must say I that I am appalled to see scum like Bernie Madoff stealing money from honest people. In many ways he's committing one of the most heinous of crimes. He's destroying the financial standings of unsuspecting victims for his own selfish greed.

My message left on Bloomberg. Let us see if they publish

Thank You for Your Feedback!

Feedback Status:

TicketID: W00328635880539504685
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Summary: the use of the word NATIONALISATION by the media

LOG: 1/22/09 06:24:45 Your Initial Feedback

With respect I believe that Bloomberg and other channels are using this word too much and contribute to the fall in financial shares in both the USA and UK. I think that you should try not using this word for at least one month.

Stock markets usually anticipate facts by 6 months. I believe that if we could have healthy stock markets then the economy could improve. This requires both retail and professional investors.

I would also suggest that both capital gains taxes and with holding taxes on dividends be removes to encourage investment. This would encourage investment in quoted companies and compensate the investors (including pensioners) who are getting little or no interest on their savings in banks due to the current low interest climate.

We do not hear on the media the word Nationalisation used with respect to the French Banks - just no bonuses
which is the way it should be. Please restrain your reports for at least one month the use of the word NATIONALISATION