Twitter helps give you an inside fast track into the world of personal finance and the latest developments. I read and interact with hundreds of people via twitter everyday and only bring you those that are worth listening to. (If you want to join my watch list then simply follow me on twitter @money2themasses)
All the following tweets are the respective tweeters personal views and not those of their employers.
COMMONS DEBATE ON INTRODUCING FINANCIAL EDUCATION IN SCHOOL CURRICULUM
What follows was a conversation, on teaching financial education in schools, between myself (@money2themasses), Annie Shaw (@CashQuestions) who is a Daily Express columnist/Financial Agony Aunt and Madeline Thomas (@MaddyThomas) who is the manager of financial education programes for Citizens Advice :
- @money2themasses - all for fin ed in school - but its society's attitude to money that needs changing which is lead by example of govs & policy makers
- @money2themasses - kids will soon learn about dangers of spending what you don't have when the number of teachers falls due to gov cutbacks & class sizes go up
- @MaddyThomas - the fin ed we teach at CAB in schools is sorely needed. Pre-uni kids are desperate for knowledge before their debts rack up
- @CashQuestions (to @MaddyThomas) absolutely. But what u do is free. How much wd it cost to make what u teach compulsory?
Then there was the reaction to the actual Commons debate:
@Simonlovesmoney - Simon Ward - News Editor at lovemoney.com
Interesting that supermarket deals have been cited as part of the financial education debate
@Simonlovesmoney - Simon Ward - News Editor at lovemoney.com
Very empty Commons chamber for financial education debate. Shame.
@jimconey - James Coney - Editor of Money Mail
There are 200+ MPs on the APPG for Financial education in schools - but just 30 or so in chamber for debate. #cheersthanksforcoming
@MartinSLewis - Martin Lewis - owner of Moneysavingexpert.com
Financial ed debate just ended. No tweeting allowed in commons. Twas parliament at its best. Minister agreed to incl it in nat curric review
GOLD
@ReutersJamie - Jamie McGeever -- Editor at Reuters Insider TV
gold -7.5% so far this week. a close on friday of more than -8.6% will be biggest weekly fall since 1983. (ignore my tweet yday. bad charts)
@ReutersJamie - Jamie McGeever -- Editor at Reuters Insider TV
gold now testing longer-term tech support at 55-wk moving average $1,557. not been below since jan '09. could break trigger steeper fall?
@Brian_Dennehy - Brian Dennehy - Independent Financial Adviser
Investors dump #gold but bugs still believe dollar to weaken/gold to recover as we enter 2012 - think again bit.ly/uT8ESt
@AllisterHeath - Allister Heath - Editor of City AM
One reason for gold's collapse is that funds are selling to raise cash
PENSION AUTO-ENROLMENT
@PensionsMonkey - Tom McPhail - Hargreaves Lansdown
Woah, DWP also says revisiting auto enrolment thresholds, clear implication fewer employees will get swept in: is it all unravelling? Maybe
MORTGAGE LENDING
@money2themasses – ME!
FSA to announce relaxation on mortgage lending. Isn't this why it all went wrong in the first place?? tgr.ph/rYrS38
What follows is a conversation between Annie Shaw (@CashQuestions) a financial agony aunt and Andrew Mortlake (@montysblog) a mortgage broker as result of the FSA announcement:
- @CashQuestions: their lunacy knows no bounds. Mind you lenders will never go for it. It's the 125% mortgage all over again
- @montysblog: come on Annie - how is that lunacy? They are not changing anything, ir borrowing any more and it is affordable anyway!
- @CashQuestions: "affordable" is what got us into this mess. If the loan is that blooming affordable pay off some of the capital before you move!
- @montysblog: nope not checking affordability properly was the issue - affordability does not mean you also have piles of spare cash
- @CashQuestions: it means you should have a stake in your home and not be able to throw the keys back - which means loan of less than 100%
EUROPE
@EdConwaySky - Ed Conway -Economics Editor of Sky News
Treasury sources say definitively: NO agreement made at EU summit for UK to contribute more to IMF. Wld only be done as part of global deal
@ReutersJamie - Jamie McGeever -- Editor at Reuters Insider TV
eu summit over. re. uk, overwhelming view among press + officials is cameron played it v badly. uk more isolated than ever, cld be dangerous
@Brian_Dennehy - Brian Dennehy - Independent Financial Adviser
There's a long way down - euro down through 1.30 to USD. Italy bond yields up again. #eurocrisis alive and well
@EdConwaySky - Ed Conway -Economics Editor of Sky News
I hear from a friend in the US media that barely anyone - aside from the NYT - has reported on the "UK isolated from EU" story in past wk
@johnstepekMW - John Stepek - Editor of MoneyWeek
In case you hadn't noticed the desperate flight to 'safety' going on, US sells 30-year bonds at record low yield: marketwatch.com/story/us-sells…
@EdConwaySky - Ed Conway -Economics Editor of Sky News
Next stage in story is watching the euro-saving plan disintegrate as EU parliaments scrutinise it & the Cameron-bashing novelty wears off
@montysblog - Andrew Mortlake (@montysblog) a mortgage broker
Looks like the whole if Europe is about to be downgraded ! Expected but does anyone care anymore? #euroschemozzle
@buyingagent - Tracy Kellett - Buying Agent London & South-East
Dear Simon Cowell, don't waste money on market research, I am browsing Eurozone analysis during #xfactorfinal - that's all you need to know
UK UNEMPLOYMENT
@Peston - Robert Peston - BBC Business Editor
The unemployment rate 8.3%, up 0.4 on quarter. 2.64 million unemployed people, up 128,000. Number unemployed highest since 1994.
@BBCHughPym - Hugh Pym - Chief Economics Correspondent for the BBC
Two faces of jobs market - up to 1,000 jobs at risk at Thomas Cook shops while Morrisons announces its creating 7,000 new jobs in 2012
ON MARY PORTAS' PROPOSALS TO SAVE THE HIGH STREET
@JuliaKollewe - Julia Kollewe -Financial reporter at the Guardian/Observer and artist
Retail Queen Mary Portas' long-awaited review of the high street is out bit.ly/kvhnNJ ... but it's less than 50 pages #business
@PropertyJourn - Graham Norwood - Property journalist
Portas 30 recommendations excellent, experience-driven - council zoning/planning/parking in firing line - quick win for Cameron if he backs
@HenryPryor - Henry Pryor - Property Expert
Dear @maryportas, I don't want to go back to the High Street. It's full of tourists, sells nothing I want & I prefer the shopping centre.
NEWS THAT THE MONEY ADVICE SERVICE NON-EXEC EARNS £360K A YEAR
@simonnread - Simon Read -personal finance editor at The Independent newspaper
How much do non-exec directors earn? Average £60k? That'd be £360k handed out by Money Advice Service while sacking 60 staff.
@TheParaplanner - Richard Allum - Parapalnner
MAS is yet another example of "jobs for chums" at the top. How can it need £350k salary when 60 being made redundant?
FALLING INFLATION
@PensionsDan - Dan Hyde - journalist at thisismoney.co.uk
Inflation starting to build downward trend. Savers note RPI down to 5.2% - more relevant for linked bonds
@EdConwaySky - Ed Conway -Economics Editor of Sky News
UK now has highest inflation in EU (4.8%) - next highest is Estonia at 4.7%
@aliceemross - Alice Ross - Currencies Correspondent at the Financial Times
Lower inflation in the UK = expectations of more QE = pound has moved lower against dollar and euro.
FSA REPORT ON THE COLLAPSE OF RBS
@paullewismoney - Paul Lewis - Radio 4 Money Box host
FSA 452 page report: RBS collapsed cos it did silly stuff and we didn't spot it then and can't punish anyone for it now fsa.gov.uk/pages/Library/…
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