It is Obvious

Chris Rick has got altogether too much to say

I’m giving up smoking

Posted by chrisrick13 on April 25, 2013

It is obvious: headlines are very interesting

 

East Croydon station is my worst habit.  I can’t hold my breath long enough,coming off a train, from the barriers to get away from the smokers clustered just out the building to a smoke free zone.  Same for going in.  When I leave Waterloo I have to hold my breath from the top of the stairs down to the road below and about 20 yards along it.  Then there is a short period where I gulp in air before running the gauntlet into the building I’m working in.  When I’m asked by doctors if I smoke I should answer that I’m trying to give it up.

I really did wish that I smoked because I could improve my health hugely by giving up.  I’m not exercising at the moment because I damaged my back rowing.  It is not easy reducing calorie intake to compensate.  I think that all the exercise did for me was to allow me to indulge in eating a lot of unhealthy stuff.  Perhaps for the sake of my health I should give up exercising.

Life is so perverse.  The BoE is putting in place a lot of schemes to encourage banks to lend at low rates of interest.  This will encourage businesses to borrow and increase the GDP of the country thus getting us out of our financial…mess.  Alas banks are reverting to type.  Typically they only lend to entities that don’t need the money: if you are a good credit risk then you have lots of money and few debts.  Also the banks might be getting cheap money but they are lending it expensively.

The main problem is that businesses do not want to borrow.  They have different sources of information to government.  Or perhaps they have the same information but are not constrained to put a brave face on things, a euphemism for lying.  So it is a horse to water time.  If there was one group of people I might listen to it is the people running successful companies.

I bemoaned the lack of advertising for ISAs this year.  The banks don’t need the money why bother chasing me for it.  I was going to move some money from NS&I to an ISA.  I can put £11,000 into an ISA for both of us.  The ‘improvement’ in interest over a year is less than £100.  I should get every penny I can but I’m not going to do it.  Being in cash is not a good idea at the moment.  Being in a bank similarly.  Being in a government might be better,but I’m not convinced about that.  I think being in gold might be good and that pays no interest at all.

I’m back to one of my favourite jokes: what is the best way to get to London?  Don’t start from here.  There is a race going on between the reducing house prices, (that are down over 30% from their highest point) and their use as a store of value in the face of a large reset in the economic system.  I think that if you are starting from here, then stay here.  It is no good doing this unless you are confident that you can feed the beast through any rest to come out the other side.

As a reluctant commuter I read AM on the train today.  Bankia made a profit in the last quarter.  This is the bank that the Spanish government created by joining a bunch of failed, what we maybe call, building societies.  The government put a teeny bit of money and watched.  Sure enough a year later it declared a £2bn loss and asked for a bailout that eventually ran to over £30bn.  The government then took all the non-performing loans away from Bankia and put them in a ‘bad bank’.  This left Bankia with 3 things: a name, a retail banking business, good debts.  Difficult not to make a profit, but is it really Bankia any more?  No it is not.  I hope the publicise the progress of the ‘bad bank’ just as much.  Who owns the ‘bad bank’?  The Spanish government went around collecting cheques off the population.  They will go round a few more times yet.
It is obvious: headlines are very interesting, shame they don’t ever carry useful information

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