I don’t fully understand what’s going on but some leading economists suggest that Mervy King of the BOE having stated they will pump another 75Billlion £s through QE into UK PLC was a panic move, bringing it forward because they and Osborne have run out of ideas/options and, more seriously that this is a con, a cover up for something more sinister!
What though? Now today we hear 12 UK Banks have been downgraded by Moodys, including Lloyds, RBS and Santander. Also that RBS may need another bailout by the UK taxpayer.
What with Dexia up the creek, shares suspended and the likely knock on with all Banks it looks like some Banks will fail this time and not receive Gov’t/Central Bank support, if so, could there be another run on a Bank as with Northern Rock?
In the UK the headline should read :
King and George in Bed Together screwing Savers and Pensioners whilst helping fraudsters through Liars Loans.
It seems that the UK Gov;t, the BOE, the Banks and the FSA are complicit in the interest rate policy, not just the BOE, whilst turning blind eyes to the 70 Billion UK mortgage fraud that went on in the boom. Now we know more about the QE and why the Banks are up to their necks in exposure if the housing market bombs. 😡
Everybody can rant as much as they want, but there are really very few solutions to the current problems.
We are at the end of a Ponzi scheme when the baby-boomers reduce their investment as they need money for retirement/health problems and the younger generations are too indebted by the huge mortgage deals they entered in order to buy way-overprice houses.
Bankers like King are just buying time hoping for the best. Savers are the least of their worries.
Everybody can rant as much as they want, but there are really very few solutions to the current problems.
We are at the end of a Ponzi scheme when the baby-boomers reduce their investment as they need money for retirement/health problems and the younger generations are too indebted by the huge mortgage deals they entered in order to buy way-overprice houses.
Bankers like King are just buying time hoping for the best. Savers are the least of their worries.
Everybody can rant as much as they want, but there are really very few solutions to the current problems.
We are at the end of a Ponzi scheme when the baby-boomers reduce their investment as they need money for retirement/health problems and the younger generations are too indebted by the huge mortgage deals they entered in order to buy way-overprice houses.
Bankers like King are just buying time hoping for the best. Savers are the least of their worries.
Yup. To be fair pensioners shouldn’t complain too much about QE because although it (probably) has caused some awkward inflation, it has also (re)inflated asset prices and prevented the odd pension plan from going bust. Without QE UK house prices would have dropped a lot more, and so would the stock market. Both of which are probably more important to many pensioners than the price of fish going up by a few percent.
Everybody can rant as much as they want, but there are really very few solutions to the current problems.
We are at the end of a Ponzi scheme when the baby-boomers reduce their investment as they need money for retirement/health problems and the younger generations are too indebted by the huge mortgage deals they entered in order to buy way-overprice houses.
Bankers like King are just buying time hoping for the best. Savers are the least of their worries.
Yup. To be fair pensioners shouldn’t complain too much about QE because although it (probably) has caused some awkward inflation, it has also (re)inflated asset prices and prevented the odd pension plan from going bust. Without QE UK house prices would have dropped a lot more, and so would the stock market. Both of which are probably more important to many pensioners than the price of fish going up by a few percent.
Thanks shakeel, I quite enjoy creating these headlines for various topics 😛
I had thought about another : ‘George offers Little to Savers’, or ‘George wallpapers over Savers and Pensioners’ these being a reference to George Osborne’s family being the Osborne and Little fabric and wallpaper company. Not forgetting ‘Mervyn Panic King’ 😛
Regarding King, there were some quite amusing letters about him recently on back of Saturday’s Telegraph money page, one of them in particular which referred to him being a bit of a nasty bit of work (ref Savers again) yet looking like everyone’s favourite uncle with his glasses and white curly hair. Whilst many are suffering in the UK, both he and Charles Bean live the high life jetting off Business and 1st Class to conferences, they eat in the exclusive Walbrook Club in the City and other top clubs, enjoy loads of free hospitality to many sporting and entertainment events, get paid 250k per annum each plus expenses etc etc and yet it’s recorded that they have made several major cock-ups on interest rates’ timings behind the curve constantly, have lost credibility with inflation problems which they blame on the World’s problems (never their own), they both know about the huge Liars Loans fraud. I know most of this because I asked questions under Freedom of Information act, know a few Chefs where he eats and have received letters from him which continually pay lip-service and even downright lies 😡
Thanks shakeel, I quite enjoy creating these headlines for various topics 😛
I had thought about another : ‘George offers Little to Savers’, or ‘George wallpapers over Savers and Pensioners’ these being a reference to George Osborne’s family being the Osborne and Little fabric and wallpaper company. Not forgetting ‘Mervyn Panic King’ 😛
Regarding King, there were some quite amusing letters about him recently on back of Saturday’s Telegraph money page, one of them in particular which referred to him being a bit of a nasty bit of work (ref Savers again) yet looking like everyone’s favourite uncle with his glasses and white curly hair. Whilst many are suffering in the UK, both he and Charles Bean live the high life jetting off Business and 1st Class to conferences, they eat in the exclusive Walbrook Club in the City and other top clubs, enjoy loads of free hospitality to many sporting and entertainment events, get paid 250k per annum each plus expenses etc etc and yet it’s recorded that they have made several major cock-ups on interest rates’ timings behind the curve constantly, have lost credibility with inflation problems which they blame on the World’s problems (never their own), they both know about the huge Liars Loans fraud. I know most of this because I asked questions under Freedom of Information act, know a few Chefs where he eats and have received letters from him which continually pay lip-service and even downright lies 😡
Well said Peter, that’s very good advice and reply.
Yes the debtors got us in to this mess and yes the Coalition, B.O.E., Treasury, FSA etc are turning their blind eyes to this fraud and, even helping their own out. 🙄
Well said Peter, that’s very good advice and reply.
Yes the debtors got us in to this mess and yes the Coalition, B.O.E., Treasury, FSA etc are turning their blind eyes to this fraud and, even helping their own out. 🙄
The world economy has destroyed itself with debt. Whatever the Euro zone does will make no difference. The debt has to be reduced, they is no capacity for more, anywhere. Even China has managed to increase its debt by 100% of GDP in a couple of years.
We a looking at a ‘lost decade’ scenario (as in Japan), low growth, falling asset values (property esp.) for a very long time and there is no magic wand to fix it.
The world economy has destroyed itself with debt. Whatever the Euro zone does will make no difference. The debt has to be reduced, they is no capacity for more, anywhere. Even China has managed to increase its debt by 100% of GDP in a couple of years.
We a looking at a ‘lost decade’ scenario (as in Japan), low growth, falling asset values (property esp.) for a very long time and there is no magic wand to fix it.
We a looking at a ‘lost decade’ scenario (as in Japan), low growth, falling asset values (property esp.) for a very long time and there is no magic wand to fix it.
Yes there is. It’s called inflation. It’s a devious way to steal money from savers and pay off debts, especially government debts. I wouldn’t be surprised if the UK has 10pc inflation in a couple of years. It’s already up near 5pc and what are King and George doing about it? Printing more money of course.
Inflation is always and everywhere a monetary phenomenon. Friedman said that. It’s not like we don’t know what causes inflation.
Anyway, it’s obvious they have decided that inflation is better than grinding deflation, and they are probably right. If you let vandals like Brown run the economy for 10 years borrowing and spending like a lunatic, which the British electorate did, then you have to pay the price. Once in a debt trap, inflation is the only way out, regardless of the harm it does to people who save and live within their means.
We a looking at a ‘lost decade’ scenario (as in Japan), low growth, falling asset values (property esp.) for a very long time and there is no magic wand to fix it.
Yes there is. It’s called inflation. It’s a devious way to steal money from savers and pay off debts, especially government debts. I wouldn’t be surprised if the UK has 10pc inflation in a couple of years. It’s already up near 5pc and what are King and George doing about it? Printing more money of course.
Inflation is always and everywhere a monetary phenomenon. Friedman said that. It’s not like we don’t know what causes inflation.
Anyway, it’s obvious they have decided that inflation is better than grinding deflation, and they are probably right. If you let vandals like Brown run the economy for 10 years borrowing and spending like a lunatic, which the British electorate did, then you have to pay the price. Once in a debt trap, inflation is the only way out, regardless of the harm it does to people who save and live within their means.
‘We’re all in this together’ says Cam-moron and Osborne.
‘We know what it’s like for everyone who is finding things hard’ they say.
‘We have kept interest rates at record lows’ they say (with no mention of savers’ problems)
These comments coming from 2 multi-millionaires, members of 18 multi-millionaires who sit in the Coalition (incs. Lib Dems) 18 from 21 and the other 3 only millionaires yet aspiring multi-millionaires.
Not many of the population went to Eton/Harrow and then Oxbridge!
Not forgetting that many in this Coalition have offshore funds in tax havens like Cayman Islands, like Phillip Hammond with his 7-8 million pound fund.
Now, let them tackle their own greedy members as well as the Likes of Phillip Green who avoid nay evade their UK taxes, then we might be all in this together.
Sorry to rant about UK greed but makes a change from ranting at Spanish property greed 🙄
‘We’re all in this together’ says Cam-moron and Osborne.
‘We know what it’s like for everyone who is finding things hard’ they say.
‘We have kept interest rates at record lows’ they say (with no mention of savers’ problems)
These comments coming from 2 multi-millionaires, members of 18 multi-millionaires who sit in the Coalition (incs. Lib Dems) 18 from 21 and the other 3 only millionaires yet aspiring multi-millionaires.
Not many of the population went to Eton/Harrow and then Oxbridge!
Not forgetting that many in this Coalition have offshore funds in tax havens like Cayman Islands, like Phillip Hammond with his 7-8 million pound fund.
Now, let them tackle their own greedy members as well as the Likes of Phillip Green who avoid nay evade their UK taxes, then we might be all in this together.
Sorry to rant about UK greed but makes a change from ranting at Spanish property greed 🙄
Angie,
I presume you worked for the N.of the World – Please if you do have an image of George and King in bed together keep it to yourself – the sight of two pale fleshy bodies on a futon will spoil dinner!
Angie,
I presume you worked for the N.of the World – Please if you do have an image of George and King in bed together keep it to yourself – the sight of two pale fleshy bodies on a futon will spoil dinner!
I just love those 3 replies from Chris, Mexberry and shakeel so thanks for them 😛
A pal of mine went on BBC radio 4 World at One today re the latest UK inflation figures which rather knocks Ca-moron, Osborne and Panic-King, inflation is out of hand and maybe worse is to come for the UK 🙄
I might one day think of bagging a bargain in Spain but, I’m thinking of putting a consortium together to buy Greece soon 😆
I just love those 3 replies from Chris, Mexberry and shakeel so thanks for them 😛
A pal of mine went on BBC radio 4 World at One today re the latest UK inflation figures which rather knocks Ca-moron, Osborne and Panic-King, inflation is out of hand and maybe worse is to come for the UK 🙄
I might one day think of bagging a bargain in Spain but, I’m thinking of putting a consortium together to buy Greece soon 😆
Greece as a collateral may not be acceptable to the lenders from whom if you were planning to raise the finance. If you are lucky enough to find a lender.
Greece as a collateral may not be acceptable to the lenders from whom if you were planning to raise the finance. If you are lucky enough to find a lender.