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- New research into proposed UK "mansion tax" released | Global Briefing
2 September 2013. By Liam Bailey.
If the £2m threshold were adopted and not increased in line with house price inflation, over the next 25 years a total of 775,500 properties would be dragged into the mansion tax net, including all properties with a current value of £540,000 or more. This means that some first time buyers buying through the government's help to buy scheme (upper limit £600,000) would be paying a mansion tax before they finished their mortgage term.
It's a type of on-going luxury tax that assumes those who can afford the pricier properties can afford to pay more in taxes over and above cheaper-home owners. It's a tier in a progressive property-tax scheme.
Read the source article ... https://www.knightfrankblog.com/global-briefing/news-headlines/?new-research-into-proposed-uk-mansion-tax-released-today/
- Calculated Risk: Update: Charts to Track Timing for QE3 Tapering
By Bill McBride. 9/01/2013 10:08:00 AM.
We can update three of the four charts that I'm using to track when the Fed will start tapering the QE3 purchases.
The September FOMC meeting is on the 17th and 18th. The only data relevant for these charts that will be released between now and the September FOMC meeting is the August unemployment rate that will be released this coming Friday. [Sept. 7, 2013]
The major variable is the reaction to tapering when it is announced. Of course, if the taper is truly the Fed just dipping its toe in the water to test it and then slowly wading in rather than diving, that will matter greatly as to the general reaction.
Read the source article ...
- Five Takeaways from GDP Revisions - Real Time Economics - WSJ
A positive and substantiated direction for US jobs:
August 29, 2013, 9:44 AM. By Ben Casselman.
Good news for jobs: One of the recent mysteries of the economy has been the apparent disconnect between the job market—which has been recovering steadily—and overall economic growth, which seemed to be sputtering. That kind of disparity can't continue indefinitely, and economists have been trying to figure out which set of numbers were telling the true story. Thursday's revisions suggest the jobs figures had it right. That's good news both for next week's jobs report and for the pace of hiring in the longer term. A separate decline in new jobless claims on Thursday is further evidence that the job market continues to heal.
The new GDP-calculation methods accounted for the substantiation of the jobs numbers.
Read the source article ... https://blogs.wsj.com/economics/2013/08/29/five-takeaways-from-gdp-revisions/
- FX carry trade losses worse than 2008 /Euromoney magazine
Ordinarily we wouldn't cover a story on the carry trade; but, because what's going on is to tied to what's happening so mortgage-interest rates, we thought you'd like to know just how impactful the Fed's taper talk has been.
"The unwinds of the summer put the carry trade losses of 2008 into perspective," says Robert Savage, chief strategist at FX Concepts, a currency-focused hedge fund. "The downside move has been ferocious and bigger than anything we saw during the financial crisis. Year-to-date, the 30 or so currencies that are used in the carry trade are down 33%."
Read the source article ... https://www.euromoney.com/Article/3250151/FX-carry-trade-losses-worse-than-2008.html