When will the river of greater fools run dry?

Tuesday 7th November 2017

When will the river of greater fools run dry?

So, the Bank of England raised the base rate from 0.25% to 0.5% last week – the first rise in borrowing costs for a decade.

It’s a small hike but the average mortgage will go up by £22 per month adding to pressure on households….

Typically, banks raised mortgage rates immediately upon the Bank of England announcement but were not so quick to pass the increased rate on to savers….

The rise made a big noise in the papers. But this is only a very small step back in the direction of normality….

Granite-chinned markets barely took a step backwards. It will take more than last week’s rather puny left hook to wobble them….

I think of last week’s rate rise as though it were the pilot episode of a new TV series that will command more of our attention further down the road.  There is more to come. And that is when things will get interesting….

  • Bitcoin – on a tear….

Meanwhile, like everybody else, I’m unable to look away from the bitcoin saga….

Records are being broken day on day. Bitcoin punched through $5000 last month.… Click here to read more

Harry Redknapp – serving up a lesson to us all….

Tuesday, 31st October 2017

Harry Redknapp – serving up a lesson to us all….

You never stop learning. That’s one of the great things about life….

It doesn’t matter how old we are, the opportunity to gather fresh knowledge and put it to profitable use is always one that is available to us – one that can help move us forward….

That’s the theory, of course. But it doesn’t just happen….

The practice requires a commitment of time and energy. There is no significant output without a corresponding input. We need to actively apply ourselves to the task of learning….

So, hats off this week to Harry Redknapp – the 70-year-old football man, perhaps best known for his spells in charge at West Ham, Portsmouth and Spurs….

  • Not me, guvnor….

You might recall that way back in 2012 Harry Redknapp was not only being spoken of as a potential England manager, he was also on trial for tax evasion at Southwark Crown Court….

Redknapp stood accused of receiving a transfer ‘bung’ of £189,000 during his time as manager of Portsmouth –  money that had allegedly been paid into a secret bank account in Monaco so that Redknapp could avoid paying tax on it.… Click here to read more