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If you actually think this Government has any idea what it is doing then please read this from Michael Coogan, Director General of the Council of Mortgage Lenders.
“To different degrees lenders are facing conflicting pressures to recapitalise against possible future losses, service government’s preference shareholdings at 12 per cent, pay a premium to access the Bank of England Special Liquidity Scheme, show forbearance to borrowers in arrears, follow base rate moves down to help their existing borrowers, keep savings rates high to support existing savers, and provide competitive rates to new borrowers and savers to maintain economic activity in a recession. And they are supposed to ensure their long term financial stability to help the UK economy rebuild itself when we are out of the recession."
Is that all?? Even a man with four arms couldn’t juggle this lot. Has Gordon gone mad? Well madder anyway…….
http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5312186.ece |
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Start stocking up China ain’t coughing up |
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Well if you thought things couldn’t get any worse, China have said they not going to lend us anymore cash. Bugger, these fellows have been working for slave wages in sweatshops for a decade now, to fund our western lifestyles through their savings, which we then borrow and spend on their goods. Crazy world this bastardisation of Capitalism is…...
http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article5309917.ece |
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A documentary produced by by an awardwinning Canadian director, John Zaritsky is to be shown tonight on Sky Real Lives channel. It will document a a terminally ill man, Craig Ewert swallowing a lethal mixture of sedatives and switching off his life-support machine. He needed a mouth-operated system to switch off the machine because he had lost the use of his limbs.
The contrevsial clinic in Switerland has helped over 700 people from 25 countries end their lives since 1999. However there was criticism yesterday from people who saw it as an invasion of privacy, and from those who oppose assisted suicide.
John Beyer, the director of the television watchdog Mediawatch-UK, said: “Documentary-makers produce all manner of programmes and no one can stop that or intervene unless they fail to comply with the requirements of the Communications Act. If this programme is not impartial and promotes euthanasia then it would be in breach of the Act; in short, it must not influence members of the public or a change in the law."
God forbid someone actually makes a television programme that influences members of the public or a change in the law. Whatever next? Ban David Attenbourgh for alerting us to climate change, ban FOX network or prehaps even censor the BBC for alerting us to the fact that Iraq had no weapons of mass destruction……
Serious subject as this is, I had no idea the Communications Act has such a vast mandate.
http://www.independent.co.uk/life-style/health-and-wellbeing/health-news/final-words-to-her-husband-have-a-safe-journey-i-will-see-you-some-time-1059446.html |
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Reality in the markets but not in the press |
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Further to my earlier blog regarding the backwardisation of gold for (technically) the for first time in history (first link), the 3 month US Treasury Bill turned negative for the first time too. When a Treasury bill paying 0% is overvalued at issue what does this tell you about the true scale of this depression? Well it was four times oversubscribed so in my humble opinion a lot.
These issues are not in the meainstream, ordinary people don’t quite get this technical stuff so it does make good news, this however is NEWS is has never happened before! We the people have been failed at the highest level will someone please let them know whats coming.
http://georgewashington2.blogspot.com/2008/12/did-december-2nd-mark-beginning-of-end.html
http://www.bloomberg.com/apps/news?pid=20601087&sid=at.e0xwtyWrk&refer=home |
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