UK ‘is hovering on the brink of a double dip recession’.

The UK is hovering on the brink of a double dip recession Official Gross Domestic Product (GDP) figures due out on Wednesday are expected to show the UK narrowly escaping a double dip recession; however many experts predict we’re still not safe. With mixed signals coming from different sectors and unemployment decreasing only marginally, albeit for the first time in a year, the UK seems to be teetering on the edge. The fragile economic conditions and high unemployment are putting many households under pressure to save money. This is fuelling the growth and popularity of cashback sites and discount culture; websites such as TopCashBack have nearly doubled the amount of its members in the past 12 months alone.

 

Natasha-Rachel Smith, Spokesperson for TopCashBack, said, “Households are under increasing pressure to save money and cut costs, especially since the UK fell into financial turmoil five years ago. With many households saddled with debt, consumers are reluctant to pay more than they deem is absolutely necessary for purchases, and are drawn by the savings and discounts offered through the innovative techniques of the internet, such as cashback sites.” Natasha-Rachel added, “The strong growth in demand for such online offerings is being fuelled by the recessionary environment, fragile consumer confidence and a strong desire for people to conserve their cash as steadfastly as possible.”

Are The Good Times Really Over For Good?

For someone in their twenties it is hard to think of a time which has been harder economically than right now. But I do know that this is not true. There have been many booms and busts before, times much harder than this. Rationing, world wars, the great depression.

But what of the future? My generation seems to have gotten the muddy end of the stick. The OECD, a respected British think tank, said that Britain has slipped into a double dip recession and more pupils than ever are getting free school meals, the governments indicator of a child growing up in poverty. Tube drivers might be raking it in, getting paid £500 just to show up for work each day during the Olympics, but the rest of us are struggling.

Are the good times really over?We have become generation rent, unemployment is high, we not only have a harder time getting our dream job, but getting any job at all. I have friends that are moving out of West London where I live because they cannot afford it, struggling to find jobs and even if they have one, struggling to survive the squeeze.

Not getting to the nitty gritty. Tuition fees are up to a staggering amount, 9K a year for an education, transport costs go up above inflation every year; the Oyster caps at £10 per day in London. Then there is the fact that if you get an unpaid internship these days you are one of the lucky ones. It seems everyone is taking everything from the young. I am luckier than most. My education days are behind me and so are my internships: but if the children really are the future, then what of it? Are the good times really over for good? Everything from stamps and food is going up. Petrol is so expensive people cannot even get to work and the government is looking shifty after the cash-for-access scandal. Never mind the fact we don’t have any privacy anymore and they are trying to bring in web-monitoring.

Government debt is at a £988.7 billion. And who is going to have to pay that off? The decent, hard working people of Britain. Oh well. We can always print some more money.

What good will come from this? Lessons maybe. We lived in a society that saw the word ‘credit’ and did not take in the fact that actually means ‘debt’. Above all we will do what the British do: keep calm and carry on. You may want to cross your fingers too.

 

The Next Sub-Prime Mortgage Crisis – We Have Learnt Nothing

Some lessons are never learned and the boom and bust of the housing market is one of them. As we finish one housing crash we are already setting ourselves up for the next one. The seeds for the next sub-prime mortgage crisis have already been sown.

It stems from a desire by all parties to encourage people to buy their own homes and keep house prices going up. This results in an unsustainable boom followed by a sharp correction, all to the detriment of stability and economic growth.

Everyone from the building companies, estate agents, mortgage brokers, banks, government, owners and even buyers all want to see the market rise. Prior to the crash we had mortgages being offered for 120% of a home’s value. We now have offers encouraging people to buy houses which are equally or more dangerous.

The reality of the situation is that house buyers (particularly first time buyers) are not earning enough to get onto the housing ladder at the moment. There simply isn’t the demand.

Desperate to sell the houses on their books, Estate agents and builders have been offering shared equity solutions to first time buyers. The buyer only buys a percentage of the property (making it more affordable and much easier for them to get a mortgage). They then pay rent to the building company on the percentage they do not own. The scheme is all over housing websites. The government has been encouraging this scheme. In fact it is taking part in it.

On the face of it the scheme looks attractive. I admit even being interested in it myself initially. However once you understand the motives behind it and the reality of it we see how dangerous it can be.

You can see how it can become very expensive for someone who takes on this scheme. They are paying a mortgage, rent and service charges, not to mention maintaining 100% of a property they don’t fully own.

Many newspapers were initially very critical, until building companies started taking ads out in their papers advertising the scheme.

The service charges and rent often rocket and the homes are almost impossible to sell leaving owners completely trapped even when they need to move in an emergency. You can read some people’s nightmare experiences here.

Now, in what can only be described as utter madness, the UK government’s latest plan is to guarantee 95% mortgages. The ‘New Buy’ or mortgage indemnity scheme (MIG) only requires a 5% deposit from the buyer and if they default the government will pick up the tab along with the bank.

The government is trying to artificially inflate demand in the short term to boost the construction sector and push house prices up so everyone feels wealthier. This should also boost consumer spending and the economy as a whole. But this is a typically short term politically motivated view. The current government cares nothing for a future crisis which might occur in 10 years’ time. At some point the market will have to correct to an equilibrium level and the more we inflate prices artificially the bigger that crash will be. All the jobs created will be lost along with many more as well.

Nothing has been learnt from the recent crisis. With a government guarantee, banks and mortgage brokers will be flogging mortgages to anyone they can. This is exactly what happened before the recent crisis in America. Just look at Fannie Mae and Freddie Mac.

When prices do start to fall owners will have no incentive to keep paying their mortgages as they move into negative equity. If house prices fall by 20% and you have only put down a 5% deposit what incentive do you have to keep paying the mortgage? As prices continue to fall this gets worse and turns into a negative cycle.

When the bubble does burst the ensuing crisis will be just like the recent one, except this time instead of the banks bearing the brunt of the loses, it will be the you and I the taxpayer.

Unfortunately we never learn from our mistakes. We must stop creating these damaging bubbles. We should just let the housing market correct itself naturally; unfortunately the government just can’t help itself. It is now just a matter of time before the next major sub-prime mortgage crisis. I just hope we can survive the fallout.

MASTERS OF DIRT BRING THEIR WORLD CLASS FMX SHOW TO THE UK

**FIRST TIME UK EVENT PREVIEW**

MASTERS OF DIRT BRING THEIR WORLD CLASS FMX SHOW TO THE UK

14th LONDON- WEMBLEY ARENA
16th MANCHESTER – MANCHESTER ARENA

TICKETS ON SALE NOW – £32.50

www.mastersofdirt.com
www.wembleyarena.co.uk // www.mcr-arena.com

Masters of Dirt have been setting the standard for world class FMX and bike stunt entertainment for the past 10 years performing across Europe. Hitting London and Manchester for the first time, The UK now has the chance to see the World’s top Freestyle Motocross, Quad, 50cc mini bike, mountain bike, bmx and even snowmobile riders perform their death defying whips, backflips and other jaw dropping tricks live and up-close at the action packed 2 1/2 hour fully seated indoor arena shows.

UK Champion Chris Birch and Aussie superstar Blake ‘Bilko’ Williams confirmed for Masters of Dirt UK Tour 2012.

We are delighted to confirm British FMX champion Chris Birch for the Masters of Dirt UK Tour hitting London 14th March and Manchester 16th March. Twenty Seven year old Birch competes on a world-class level bringing the most amazing whips and backflips this side of the Globe.

‘I can’t wait to ride MoD in my home country and you can guarantee I will bring some serious new tricks to the ramps in March’

25 year old Aussie Sensation Blake ‘Bilko’ Williams has also been added to the all star cast.

Bilko was the first ever athlete to land a cliffhanger backflip, as well as winning X Games Gold, Silver and Bronze and competing in X-Fighters, makes him one of the most exciting athletes to flip the Masters of Dirt ramps in March.

Sam Reynolds, 20yr old British Mountain Bike champion also adds to one of the most exciting line-ups MoD has seen for years. He said ‘I cannot wait to bring MoD to London and Manchester riding along side some of the best freestyle athletes across the globe’

Confirmed Rider List:
Edgar Torronteras (ESP)
Blake ‘Bilko’ Williams(AUS)
Derek Burlew (USA)
Alastair Sayer (SA)
Rob Adelberg (AUS)
Andreu Lacondeguy (ESP)
Chris Birch (UK)
Jostein Stenberg (NOR) (Snowmobile)
Jon Guetter (USA) (Quad)
Tomas Barta (CZ) (Minibike)
Sam Reynolds (UK) (Mountainbike)
Bienvenido Aguado (ESP) (Mountainbike)

A Tribute to Adonis

First U.K solo exhibition of art works by great Syrian poet

3 February – 30 March 2012                                                          

The Mosaic Rooms, 226 Cromwell Road, London, SW5 0SW

 

‘His vision is extraordinary. His poetry sublime… He is for me a master of our times’ V.S. Naipaul

 

The Mosaic Rooms is delighted to announce for 2012 a tribute to the Arab world’s greatest living poet, Adonis. From February to March 2012, the Mosaic Rooms will host an exhibition of Adonis’ exquisite drawings alongside a series of literary events celebrating his life, poetry and criticism. This is the first solo exhibition of Adonis’ artwork in the United Kingdom.

 

Adonis, who is now in his eighties, has been painting and creating works of art for the past 12 years. His pictorial pieces are beautiful collages, made up of rags, yarn, fabric, documents, ancient papyri, used cans, and other found objects that have inspired him. By unifying these materials which belong to different cultures, Adonis aims to give sense to objects that have previously had no significance.

 

Each collage has a background of Arabic writing, not only used because it is Adonis’ native language, but also because he considers the language to have an exceptional graphic quality. Through his art work Adonis demonstrates the beauty of the Arabic language, both in its musicality and also in its literal written form. ‘The written word’, he says, ‘is a picture in itself’.

 

The Italian artist Marco Nereo Rotelli has previously described Adonis’ artworks as being ‘like a short story told in an instant.’ Adonis himself considers the pieces to be an extension of his poetry, defining his art work as poems but in a different form.

 

Winner of the 2011 Goethe Prize and a favourite for last year’s Nobel Prize for Literature, Adonis is recognised as the man who led the modernist movement in the Arabic literary scene in the past 50 years and brought Arabic poetry the international recognition it deserved. He is also famous for his critical views on Arab culture, politics and current affairs and even today, at 81years of age, he retains his fresh and critical outlook on the events in his homeland, attracting controversy and debate because of his cautionary and critical worlds on the Arab Spring.

ADONIS: A BIOGRAPHY

 

Adonis was born Ali Ahmad Said Esber near the city of Latakia, western Syria, in 1930. He had no formal education for most of his childhood, learning the Quran at the local mosque school and memorising classical Arabic poetry, to which he was introduced by his father. His formal education began after he impressed the then President of Syria as a teenager by reciting one of his poems. He was given a scholarship to a French lycée and went on to study philosophy at Damascus University.

 

In 1956, he was forced to leave Syria after being imprisoned following his involvement with the Syrian National Socialist Party. He moved to Beirut, Lebanon, and, together with Yusuf al-Khal, set up the legendary Shi’r (Poetry) magazine, one of the Arab world’s most influential literary journals. Adonis then studied in Paris before returning to Beirut and taking up a post teaching Arabic Literature. In 1982, he and his family relocated to Paris as a result of the Israeli invasion of Lebanon and they have remained there until this day.

 

Adonis’ work includes over 50 books of poetry, criticism and translation in his native Arabic. His multi-volume anthology of Arabic poetry (Diwan al-shi’r al-‘arabi) covers almost two millennia of verse. He has also translated a number of works into Arabic, including the first complete Arabic translation of Ovid’s Metamorphoses (2002). He has won several awards, including the Goethe Prize in 2011, and has been shortlisted for the Nobel Prize for Literature a number of times.

 

At Last! GTA 5 Trailer

The new trailer for Grand Theft Auto 5 has finally been released.

What can I say? Typical of its developers, Rockstar Games, it leaves a lot to the imagination.

Different magazines and sources have all given their own dissections of where Rockstar could go with this latest release.  It looks as though they are going to give the player even more freedom in the open world, much like what they did in Red Dead Redemption and from the feel of the trailer, one gets the feeling the game will focus even more on the storytelling.

One thing to improve upon will be the online multiplayer aspect. It’s not hard to understand why, as they have seen other games like Uncharted 3 do so well in this area.  Maybe they will bring a social element into GTA 5, such as offering Facebook integration.

It’s hard to say what direction the developer will go in terms of the tone of the game. We all know that the previous version was violent, while the one before that had its funny side. Maybe they ought to offer some sort of parental control, so you can have the best of both worlds.

One other source apparently ‘leaked’ some information regarding the GTA 5 world – which proved very interesting – suggesting that owing to the size of the game Grand Theft Auto 5 would be digital only. This would mean that it would not be on a physical disc, but via an online set of downloads.  So let’s play devils advocate for a second. Let’s say for a moment that there will be a physical copy as well. Would this be a PS3 only release?  It will not require as many discs as the 360, due to the fact that Sony use the Blu-ray, whereas Microsoft went for the smaller capacity DVD.

Questions are always about in matters like this. but I am interested to know what you think of the trailer, where you think it is going and what you think the new game should include.

As for the release date? Well,  we cannot be certain of this, but the rumour mill is circulating that the release date could be as early as May 24, 2012.

We wait with bated breath.

[youtube http://www.youtube.com/watch?v=QkkoHAzjnUs&w=560&h=315]

Sienna Miller supports BUAV campaign to end cruel cosmetics tests on animals

Stage and screen star Sienna Miller is supporting the BUAV No Cruel Cosmetics campaign to end animal testing for toiletries and cosmetics sold in the EU. Sienna joins a number of high profile celebrities supporting the BUAV campaign, including Sir Paul McCartney, Pussycat Doll Kimberly Wyatt and British Actress Jenny Seagrove.

Despite a UK and EU ban on the use of animals to test cosmetics and toiletries, companies are still allowed to sell products in the EU that have been tested on animals in other parts of the world. A ban on the import and sale of new animal tested cosmetic products in the EU is due to come into effect in 2013. However, concerns have arisen that this animal testing ban may be delayed. In response, the BUAV launched the European-wide No Cruel Cosmetics campaign calling for the ban to come into effect as planned in 2013.

If the ban is delayed, animals will continue to suffer and die needlessly in cruel tests for new beauty products sold in the EU. That means that hundreds of thousands more rabbits, guinea pigs, mice and rats could be injected, gassed or force-fed cosmetics worldwide for new beauty products sold in the EU, including right here in the UK.

Over one hundred thousand people across the UK and EU, including Sienna, have already signed the No Cruel Cosmetics petition which is being sent to the European Parliament. The BUAV petition can be signed at www.NoCruelCosmetics.org.

Michelle Thew, Chief Executive of the BUAV, said: “We are delighted to have the support of Sienna Miller. It is totally unacceptable for animals to continue to suffer and die in the name of beauty. Please join Sienna and support our No Cruel Cosmetics campaign to end cosmetics testing on animals. Sign our petition to the European Parliament at www.NoCruelCosmetics.org.”

Celebrities, politicians, cosmetic companies and European citizens are being urged to sign the Euro-wide petition calling for the animal testing ban to go ahead in 2013.

Labour’s Debt Legacy

You (every UK household) will pay £2,128 in taxes this year just to cover interest debt repayments!

That’s not to pay off the debt, that’s just to cover the interest. That is Labour’s legacy.

The worst part is this amount is set to increase as the national debt continues to soar thanks to the estimated £146billion budget deficit this year (and that’s after the cuts)!

In 1997 Labour inherited a budget that was in balance and set to move into surplus. That is a budget deficit of £0. With the budget deficit moving to a surplus the Labour government wasted a valuable opportunity to pay off some of the UK’s debt.

It’s so infuriating that that £2128 in taxes we’re all paying today to cover interest debt repayments need not exist at all.

What the previous Labour government actually did was go on a massive spending spree with borrowed money. Government spending soared from £309billion in 1997 (40% of GDP) to £647 billion in 2010 (52% of GDP). The Labour government mortgaged Britain’s future to achieve political success in the short term. Ultimately their actions were profoundly irresponsible and selfish. ‘Weak politicians have bribed voters with endless amounts of borrowed cash’

The UK now owes over £31,000 for every person in employment!

See the debt bomb for an idea of the scale of the debt and how fast the debt it is increasing http://www.debtbombshell.com/

No one wants these cuts. But we need to except that we can’t spend more money than we have. If so much money wasn’t going on interest re-payments there would be no need for cuts. But the fact is Labour has created this debt and we can’t just ignore it.

Quite frankly it was sickening to watch Ed Milliband giving a speech to anti-cuts protestors, when it was his party who got us in this situation in the first place.

His attempts to link the anti-cuts protests to the anti-apartheid movement and the suffragettes were ridiculous if not offensive.

Let us not forget the lessons this has taught us. We all need to take a longer term view. Politicians but us voters as well. And there needs to be more transparency. Personally I found George Osborne’s recent budget much easier to follow than the old Brown ones.

The fact is the previous government spent money it didn’t have and now you have to pay it off. Let’s learn the lessons. Don’t let any government do it again.

http://www.telegraph.co.uk/news/politics/7495214/Budget-2010-Relentless-march-of-state-spending.html
http://www.ukpublicspending.co.uk/downchart_ukgs.php?year=1990_2011&state=UK&view=1&expand=&units=b&fy=2008&chart=F0-total&bar=1&stack=1&size=l&color=c&title=Overall%20Public%20Spending%20Chart
http://www.debtbombshell.com/
http://www.bbc.co.uk/news/business-12830224
http://cluaran.free.fr/debt.html