https://geopolitics.co/2019/04/24/the-russian-china-polar-silk-road-challenges-british-geopolitics/
Home@ix Tackling the Going Direct Paradigm
https://www.opendemocracy.net/en/opendemocracyuk/democratic-dialogues-how-to-communicate-with-people-of-nuneaton/
Home@ix Tackling the Going Direct Paradigm
Key findings
The outstanding value of all residential mortgage loans was £1,613.4 billion at the end of 2021 Q4, 4.7% higher than a year earlier (Table A).
The value of gross mortgage advances in 2021 Q4 was £70.2 billion, 8.4% lower than in 2020 Q4, and the lowest level since 2020 Q3 (Table A and Chart 1).
The value of new mortgage commitments (lending agreed to be advanced in the coming months) in 2021 Q4 was 2.0% less than the previous quarter at £77.3 billion, and 11.9% less than the recent peak of £87.7 billion a year earlier (Table A and Chart 1).
The share of gross advances with interest rates less than 2% above Bank Rate was 71.3% in 2021 Q4, 6.5 percentage points (pp) higher than a year ago, and the highest seen since 2020 Q3. The increase was driven by the 15bp increase in Bank Rate in December 2021 rather than any significant change in mortgage interest rates (Chart 2).
The share of mortgages advanced in 2021 Q4 with loan to value (LTV) ratios exceeding 90% was 4.2%, 3.0pp higher than a year earlier but broadly unchanged compared to the previous quarter (Chart 3).
The share for house purchase for owner occupation returned towards pre-coronavirus pandemic levels, at 53.0%, down 10.9pp from 2020 Q4. The share of gross advances for remortgages for owner occupation also moved towards levels observed before the pandemic, at 28.1%, an increase of 9.7pp since 2020 Q4 (Chart 5).
The value of outstanding balances with arrears decreased by 2.1% over the quarter to £13.5 billion in 2021 Q4, and now accounts for 0.84% of outstanding mortgage balances, the lowest since recording began in 2007 (Chart 6).
Finance Insurance Real Estate FIRE
Good Derivatives: a story of financial and environmental innovation
Oil Gas Mining OGAM
Military Industrial COmplex. MIC
“Talk about centralisation! The credit system, which has its focus in the so-called national banks and the big money-lenders and usurers surrounding them, constitutes enormous centralisation, and gives this class of parasites the fabulous power, not only to periodically despoil industrial capitalists, but also to interfere in actual production in a most dangerous manner— and this gang knows nothing about production and has nothing to do with it.”
Steve Keen’s DebtWatch No 31 February 2009: “The Roving Cavaliers of Credit”
[Marx, Capital Volume III, Chapter 33, The medium of circulation in the credit system, pp. 544–45]
Bourgeois resolution. A poem in Three Voices for added 4th part Harmony.
Glamorous flashing city lights
Suburbia within commute of higher
Dreams. A stairway to real Estate heaven.The only Ladder, oh to be
upon the bottom rung and rise.Dreams for mortgage, no hostage to Fortune.
Sophistication often masques ignorance. The humble and rustic often belies an appreciation of what truly is.Calliopsis or Magnesia where poets
slave to familiar rhymes and themes
Not golden or silver words but workmanlike
fashion hymns of safe iron and copper.
2 thoughts on “Gimme Shelter. Surveillance Capitalism, Financialised Rentier Capitalism , Industrial Capitalism. Make Affordable Housing Great Again.”