No good news this wee. Then to cap it all today we hear the latest on inflation. Oh well tht’s goodbye o our savings, pensions and lifestyles.
Meanwhile Portugal looks set to become latest eurozone member to be threatened by speculative attacks in the bond markets as borrowing costs soar
The European Central Bank (E.C.B.) has stepped in to the financial markets to buy Portuguese bonds on Thursday amid growing fears that the eurozone’s rolling crisis is about to claim its third victim.
Policymakers in Frankfurt intervened for the first time in three weeks as borrowing costs on Portugal’s debt remained at a level that proved to be unsustainable for both Greece and Ireland.
Left Bloc, one of the smaller parties in Portugal’s parliament, said on Thursday it would table a motion of no confidence in the minority socialist government.
There is a pattern emerging here. Oo – er we have a coalition government with a minority party whose members are not happy.
Roll on The New World Order.
Drop in UK inflation Is Not Good News
The Office for National Statistics has reported a sharp fall in the Consumer Prices Index – down from 4.8 per cent in November to 4.2 per cent last month – was the sharpest drop in the annual rate since December 2008 when the UK was in recession and VAT was reduced. Government ministers and propagandists will try to talk this up as a sing that the economy is starting to recover. We should be wary however, in the current economic circumstances a drop in inflation, especially one this rapid in what is traditionally the best month of the year for retailers, is not good news …
Economic Doom: Sovereign Debt Leads To InflationThe bond vigilantes are walking out on Greece, Spain, Portugal, the U.K. and Iceland, Unfortunately in the U.S., the bond-market vigilantes are not walking out. Roubini said during a panel discussion on financial markets at the Milken Institute Global Conference in Beverly Hills, California. The thing I worry about is the buildup of sovereign debt, said Nouriel Roubini, a former adviser to the U.S. Treasury and IMF consultant who in August 2006 predicted a painful …
The Debt Threat To Our Way Of Life
Japan’s Triple A credit rating has just been downgraded, that of the USA is looking a long way short of secure.What is going on in the world of finance when economic powerhouses like these are in trouble? Is the continuing financial criis and the threatened meltdown in the bond market just a knock on effect from 2008’s problems or is something bigger going on?
Inflation is the cruellest tax, it hits the cautious, prudent and hard working, rewards the feckless, reckless and downright foolish. We have a bout of inflation under way, engineered by governments to reduce their unsdustainable levels of debt incurred in the business of buying otes to stay in power. What will be its effect on ordinary people?
Workers Hit By Wage Cuts As Prices Rise