A hard life - just how do they manage?

So UK MPs will now get a basic salary of £74k following a 10% pay rise. If I understand right they also get a host of allowances and index linked pensions. What a hard life.

See http://www.bbc.co.uk/news/uk-politics-33552499 

UK weather

Is it any wonder people in the UK enjoy talking about the weather? For several days our son and family have been on holiday on the Isle of Wight. The weather dad been appalling with lots of rain. There is little prospect of it changing any time soon.

Budget reaction

Although for those in work with 2 or fewer children the budget is probably neutral, I think it is fair to say reactions have been mixed. Overall, I think it was quite reasonable, although it would have been better to have gone after the very high earners too.

The UK budget and FTSE 100 - up 0.91%

The UK budget seems to have been generally liked even though it is quite hard if you were heavily dependent on benefits. The FTSE 100 ended the day up 0.91% on the day. I think it will take several days before people properly understand the full implications of the budget. There are quite a few hidden tax rises as well as some tax changes which reduce income tax for some.

China - worse than Greece?

We should be afraid of what is happening in China. There, stock market losses are huge in the last month and these will affect China and the West. The article linked shows parallels with the 1929 Wall Street Crash. Worrying. With Greece and China the world is facing another financial crisis.

See http://www.bbc.co.uk/news/business-33440565 .

FTSE 100 recovering?

OK, this is just a snapshot and all could change, but at the moment the FTSE 100 is up. I guess the real turbulence will be after Sunday when the situation with Greece becomes clearer. Clearly the countries in the Euro are doing everything to keep Greece in the Euro, but the Greeks are not wanting to play ball" and want things on their terms. Tax avoidance and possibly corruption seem endemic in Greece. Things have to change or they will be on their own again.

Thunderstorms in UK

At the moment the nearest thunderstorms seem to be in the east of Germany and in the Alps, with none in the UK.  Of course, this situation can soon change although it is definitely cooler here today with the winds more from the north. It is probably 8-10 deg C less here than a week ago.

See http://www.lightningmaps.org/realtime?lang=en .