Why Iceland Recovery Is Being Ignored In Mainstream News

Iceland is a small country with less that half a million people so is not a good comparison with Britain. It’s recovery from near bankruptcy in the wake of the 2008 financial crisis however is due to the rejection of politically correct, globalist politics so in that light it serves to illustrate that to suggest Britain (60 million people) cannot survive outside the EU is just globalist scaremongering.

Follow the link and learn just why Iceland has recovered by severing its links with the European Union’s bureaucratic dictatorship while other counties, Spain, Portugal, Italy and Greece foremost are still enmired in crisis and hamstrung by the membership of the European Monetary system (Euro)are unable to do the things needed to turn around their economies.

Why Iceland Recovery Is Being Ignored In Mainstream News

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Swiss Decoupling Sets The Euro Adrift, Triggers Vast Losses For Banks, And Currency Traders

Nobody is shedding any tears over the news that the deciusion by the Swiss central bank to sever the link that kept The Euro single European currency from the Swiss Franc, it is just another example of really important news you will never read of hear of from mainstream media. It is however bad news for all of us.

People Are Waking Up To The Fact That The European Union Is On The Fast Track To Fascism.
Greece has a General Election and it looks as if the anti – EU, extreme left Syriza party will win comfortably. In previous elections that went against the Euronazis in Brussels, the democracy hating bureaucrats simply told the sovereign government of the member nation that the vote was not acceptable. If their try to overturn the Greek result in the same way it will trigger massive civil unrest.
A Republic Always Decays Into Oligarchy. Here’s Why
Almost a rehash of Schumpeter’s warning, that capital always contains the seeds of its own destruction while socialism always leads to fascism. I guess the old Austrian economist was trying to tel us the only thing that works is chaos. I can live with that.


How the fall of France could accelerate the rise of UKIP
Don’t hold French stocks says former broker Farage as our Gallic neighbour sinks deeper into the Euroshite


Sharia law or gay marriage critics would be branded ‘extremists’ under Tory plans, atheists and Christians warn

EU Cuts Growth Forecasts as Big Economies Falter
Will Anti European Union Feeling Lead To More Integration
British taxpayers give away £30million in benefits to other countries each year
If There Is An Anti EU Surge Across Europe What Should Cameron Do?
European Commission puts business profits before the needs of the world’s poorest.

Not Waving But Drowning

Looking at the world situation and America’s worsening position as it tries (but fails) to manipulate events to its advantage brings to mind Stevie Simith’s poem, “Not waving but drowning.” which tells of a man who swam out beyond his range and was so far from shore people did not hear his cries for help and thought he was just larking about.

America is not quite like that, rather than waving frantically as it sinks below the surface of its debt pool, it is shaking an angry fist and blaming Russia, Syria, the Republicans, George W Bush, Europe, anyone in fact except the people responsible for its plight.

From The Trenches sums it up well:

In the present confrontation between Russia and the West over the Ukrainian crisis, the image of the Cold War inevitably comes to mind and the media are obviously fond of it. However, contrary to what it gives us to understand, it’s not Russia that seeks the return of an iron curtain but really the US. An iron curtain separating the old powers and emerging nations; the world before and the world afterwards; debtors and creditors. And this in the crazy hope of preserving the American way of life and the US’ influence over “its” camp in the absence of being able to impose it on the whole world. In other words, go down with as many companions as possible to give the impression of not sinking.

For the US, these are the current stakes in fact: drag along the whole Western camp with them to be able to continue dominating and trading with enough countries. So, we are witnessing a formidable operation of turning round opinion and leaders in Europe to ensure docile and understanding rulers vis-à-vis the American boss, supported by a blitzkrieg to link them permanently with the TTIP and to cut them off from what could be their lifeline, namely the BRICS, their huge markets, their vibrant future, their link with developing countries, etc. We are analyzing all these aspects in this GEAB issue, as well as the subtle use of the fear of deflation to convince Europeans to adopt US methods.

In the light of the extreme danger of these methods used by the US, it goes without saying that leaving the US ship wouldn’t be an act of betrayal by Europe, but really a major step forward for the world as we have already extensively analyzed in previous GEAB issues (1).

Unfortunately, the most reasonable European leaders are completely paralyzed and the best strategy that they are still capable of currently putting into effect, in the best case scenario, seems to be simply to delay (2), certainly useful and welcome but hardly sufficient…

Continue reading:

Like I said, not waving but shaking a fist.

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Kiss Your Money Goodbye – China Sells $48bn US Treasury Bonds

I told you so. Yes once again Little Nicky Machiavelli called it correctly and said the Chinese were ready to take down the US dollar and replace it with a new reserve currency based on the Renminbi.

What do you mean you didn’t read it here, Little Nicky has been blogging a long time and has always warned (since the days of Bush2) that the dollar was very fragile and as soon as China felt ready they could stage a coup and replace the USA as the world’s foremost economic power.

And it looks as if they are ready. The sell off of US treasury bonds spells out the message very clearly.

$48 billion may be a mouse turd sized chunk of the US paper the government of China holds but it’s a hell of a lot to sell in one chunk

Watch this Bloomberg video that explains fully the significance of the move.

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Britain’s Credit Rating Dowgraded By People Who Rated Toxic Debt Bonds

The downgrading of Britain’s credit rating, which will have little effect on us ordunary punters, is interesting only in that it has been done by a credit ratings agency closely which gave triple-A ratings to worthless toxic shite bonds (aka Collateralised Debt Obligations) sold by the banks to a lot of decent people who were persuaded they were putting their money in sound investments.

‘Moody’s announced on Friday night that it had cut the Government’s bond rating one notch from ‘Aaa’ – the highest possible level – to ‘Aa1’.

The agency pointed to “continuing weakness in the UK’s medium-term growth outlook, with a period of sluggish growth which [it] now expects will extend into the second half of the decade”.

Thus these ‘rating agencies’ which were created by the banks for the benefit of the banks. played a major role in the crash of 2008 are now the same agencies (just three dominate the world market) are now credit-rating countries and impacting upon the lives of many people.

While dropping from Aaa to Aa1 will have little immediate effect because few nations still retain an Aaa rating, and at Aa1 we still only pay 3.5% interest on our £trillion and a half debt, when the rot sets in seriously as it has in Greece, Italy, Spain and other Eurozone nations we are looking at paying between six and seven per cent on that £trillion and a half.

Any idea what six % of a trillion pounds is? No?

It is £60 billion a year. Or £1000 for every adult and child in the nation. Or about 5% of GDP. Or a hell of a lot more austerity measures than left wing politicians and media dickheads have been complaining about over the past few years.

First we need to get that debt down. If you don’t believe me, go to Greece, Spain or Portugal and ask how life is right now. Or go to Italy and you can join in the celebrations if Silvio Berlusconi is re elected on a platorm of standing up to the Gauleiters of Brussels. Then we need to dump politicians who are in the pockets of the New World Order bankers (all three major parties in the UK) and elect some leaders who are apable of thinking for themselves.

Shame and humility are not the greatest gifts of bankers or politicians, gobsmacking levels of arrogance are more their line. But their ranks a numbered in thousands, there are sixty million of us. Time to show them who is boss.

Update:

So Why Don’t The Bank Of England Just Do The Sensible Thing?

The Bank Of England is not what you think it is. Most people think Th Central Banks are owned by the nation, in fact I have seen many vitriolic argements about the US Federal Exchange in which well informed people of not particular political persuasion tried to explain that The Fed is owned by private inteests and thus does not have to do what is in the best interests of American citizens and US Liberals, the most fanatical members of the Obamessiah cult who insist their wondrous leader controls The Fed and thus everything it does is in the best interests of the American people and anyone who disagrees is a racist and a young earth creationist right wing nut job. Obamessiah cultists are not big on sanity.

The same goes for The bank of England although British lefties usually manage to be a teeny bit more rational in their responses to the truth.

We The Punters do not own the Bank of England, neither does The Queen nor the Government; it is owned by 1000 share holders whose identities we are not allowed to know (The Boggart Blog bookie is not taking bets on some of them being named Rothschild). So it doesn’t really matter because the 1,000 will decide what happens to the UK’s monetary policy anyway.

“In 1977, the Bank set up a wholly owned subsidiary called Bank of England Nominees Limited, (BOEN), a private limited company, with 2 of its 100 £1 shares issued. According to its Memorandum & Articles of Association, its objectives are:- “To act as Nominee or agent or attorney either solely or jointly with others, for any person or persons, partnership, company, corporation, government, state, organisation, sovereign, province, authority, or public body, or any group or association of them….”

Bank of England Nominees Limited was granted an exemption by Edmund Dell, Secretary of State for Trade, from the disclosure requirements under Section 27(9) of the Companies Act 1976 , because, “it was considered undesirable that the disclosure requirements should apply to certain categories of shareholders.” The Bank of England is also protected by its Royal Charter status, and the Official Secrets Act.”

OK, so now you know why the Bank Of England does not act in the interests of the people. Makes a lot of other things crystal clear doesn’t it.

As Britain Goes Jubilee Mad It’s Business As Usual In The Eurozone

Little nicky’s friends at The Daily Stirrer has consistently reported the truth about the Euro crisis while mainsteam print and broadcast media have consistently tried to suggest there was nothing wrong that could nut be put right by simply mugging German taxpayers to bail out debt problems in basket case nations like Greece, Portugal, Ireland and Italy. Another basket case nation, one that compounded it’s economic folly by committing to expensive and almost totally inefficient “green” energy projects is Spain. Now as a Spanish economic collapse that will need another massive bail out from north Europeran taxpayers draws closer every day we hear that another small EU nation, Cyprus, has at last admitted it is bankrupt

Spain’s ruling party, only recently elected, has begun to crack under pressure, signalling for the first time that the country may need a European rescue to shore up its banking system.

Meanwhile even the mighty German economic behemoth is faltering as one of it’s main customers, China, feels the pich due to Economic contraction in the USA and Europe.

While British financial markets remained closed today for the Jubilee celebrations, the German stock market fell sharply on fears of US economic relapse after last Friday’s terrible employment figures and news of a sharp slowdown in China. Spanish, Italian and French shares rose slightly on hopes of new eurozone fiscal authority to control national budgets and manage debts As any such scheme depends on German financial stability a news pan European financial policy already looks a forlorn hope..

Europes Crisis Is Going To Get A Lot More Insane

How would you go about solving your personal debt problem if your credit cards were maxed out, your overdraft was over it’s limit and your income would not stretch to buying basics after all the interest on your morthgage and loans had been paid.? Go to a loan shark? Of course not, that should be a no brainer even for politcians and bureaucrats. But it is exactly where Europe is heading.

Euro-Lefties have been having a thin time of it recently. Only three per cent of EU citizens live under socialist or socialist-led governments. The European People’s Party is the largest bloc in the European Council, as measured by voting weight, second are the European Conservatives and Reformists, who edge ahead of both the Liberals and the Socialists.

That, though, is about to change. France,a nation in which the state consumes 56 per cent of GDP, even more than our own greedy government – monster, and whose budget was last in balance in 1974, has just elected François Hollande who, on a platform of ‘growth, not austerity,’ (if only achieving it was as easy as saying it) will try to create illusory growth in the economy by borrowing more and more money at ever higher interest rates and giving it away to the lazy, the shiftless and the corporations whose business is built on mining taxpayer’s pockets.

Greece, which also voted when France did and now must vote again, is inclining toward a pack of communist parties; the politicians there who talk openly of the need for cuts currently command less than seven per cent in the polls.

Fortunately the parties of Greece’s fragmented left hate each other more than they hate the bankers who screwed their country Romania, too, is about to install a Leftist ministry, following the defeat of the last government’s austerity platform. As other elections follow around the poor nations of Europe, we can expect more of the same.

The invevitable result of this will be that Europe will return to and intensify all the policies that brought it to its present unhappy condition: loonytoons spending, unsustainable borrowing, obscene levels of taxation, deeper fiscal and political integration integration. Voters, protected from reality for too long by the EU’s overgenerous benefits system are in not willing to accept less generous benefits and pensions. They’d rather be told what they want to hear that the money can somehow be got out of the rich.

A politician who admits the truth that the rich, a tiny fraction of the total population, have nothing like enough to pay for all the things that modern governments want to do is liable to have rotten fruit, dead vermin and molotov cocktails thrown at him … by member of his own party.

Even in the north European countries that still recognise the virtue of financial discipline the Centre-Right parties in government have done little to bring spending under control. All are running deficits that would have been catastrophic a generation ago. But like the other Elepphant In The Room, immigration, nobody wants to talk about it.

For Britain, official Treasury figures show that, contrary to almost universal belief, total public s ending is higher today than it was under Gordon Brown. The left constantly scream abouut the unfairness of the Coatolitions cuts but the Coalition austerity measures have not reduced spending by one penny. All that has been achieved is a lowdown in the rate of acceleration at which we are amassing debt.

The EU is in a downward spiral. The worse things get, the more reluctant its governments are to tackle the underlying problem of excessive expenditure. Lacking any alternative narrative, voters blame the lack of growth on ‘cuts’, ‘bankers’ and ‘deregulation’. They then support parties committed to even higher spending – which, of course, exacerbates the problem. And, as if national governments were not burdensome enough, Europeans must also contend with more rules and more taxes and a headlomg dash towards fascism from Brussels.

The E U is insance and growing more psychotic by the minute. We must get out. Ignore those wimps who say it is impossible; unless you want to live under a system of oligarchic collectiveism (see George Orwell’s 1984) we simply cannot allow it to be impossible. FFS we stood up to Hitler’s Wehrmacht, have we become so weak we are prepared to let a bunch of penpushers in Brussels destroy our nation?

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more on the Debt Crisis

Schumpeter’s Warning and the economic mess

World on the Greece – y slope to financial ruin.

According to news reports, finance ministers from the world’s leading economies worked on through last weekend to line up a deal that will see the world embark on a second global rescue package worth nearly $2 trillion in April this year.

They claim this is needed to stop the euro-zone sovereign debt crisis from spreading and putting at risk the tentative recovery.

Germany said it would make a decision some time in March on strengthening Europe’s bailout fund, a move other Group of 20 countries say is essential to clear the way for throwing extra funds into the International Monetary Fund.

I have been doing a little research and found that the nations coping best with the economic slump are those that did not join in the first money priniting exercise stimulus. The point about such a project is it contains the seeds of it’s own destruction. Printing money is not a question of revving up the printing presses. Money these days exists computer databases and only shows up in spreadsheeds.

There is very litle real money around.

So when we say ‘printing money’ it means governments borrowing money on which they must pay interest. And the more money governments borrow to finance their profligate spending, the more interest they must pay.

This is how Greece got into it’s current state. The interest that nation must pay on its €1,7 trillion debt at current interest rates of around 7% is €120 billion. With a GDP of about €220 billion and falling the nation is in a spiral of debt. It must take on more debt by borrowing to pay the interest on existing debt. Simples.

So long as economists and politicians choose to ignore this we are all on the Greece – y slope to the same fate.

What makes matters worse is nobody in their right mind would lend to governments these days so governments are buying in their own bonds, i.e. borrowing from us poor punters. And they are not giving any guarantees when or even if they intend to pay us back.

Greek debt deal, Greek taxpayers must stump up for Euro folly

It seems the Euro has been saved at the expense of democracy and inndividual freedom again.

from The Daily Beast:
Greek leaders on Thursday reached a deal for deep austerity cuts, a government official has confirmed. By enacting austerity cuts, Greece is now eligible to receive bailout funds from the European Union—and thus will avoid defaulting on its debt. The deal came just hours before Greece’s financial backers were set to meet in Brussels to discuss the debt crisis. The euro and Greek stocks rose Thursday after the news of a deal broke Greece’s two major labor unions called for a 48-hour strike on Friday and Saturday against the cuts. Meanwhile, Greek unemployment rose to another new record, of 20.9 percent, in November, up from 18.2 percent in October. The average jobless rate for 17 eurozone countries edged up to 10.4 percent in November from October’s 10.3 percent.

read full story

We predicted at The Daily Stirrer some time ago the (B)euro(c)rats of Brussels, the unelected elitists who run our lives would sacrifice the future to save theie precious single nation bureaucratic dictatorship project.

The Greek population are angry and have taken to the streets to protest against being sold into slavery by their leaders. It seems we may soon be hearing little Sir Echo Cameron mimicking Obama’s calls for military intervention in Greece.

David Cameron Isolated As EuroNazis Try To Save The Single Nation Project

Senior analysts and traders in the financial markets have warned that bank failures are likely as the summit convened to work out a way to save the Euro and solve the European debt crisis failed to deliver a solution. The only positive outcome of the meeting was that David Cameron vetoed a deal which would have given a huge chunk of Britain’s national sovereignty away by handing over control of Britain’#s finances including taxation policy to a bunch of unelected bean counters in Brussels.

I’d rather trust our incompetent, spineless politicians.

READ full version of this article:


David Cameron Isolated As EuroNazis Try To Save The Single Nation Project

More From Greenteeth and The Daily Stirrer
Back Index 14 – The Daily Stirrer, Boggart Blog and more

Berlusconi Admits Defeat But Will Italy Be The Loser?

Silvio (Don Vito) Berlusconi has often been given the benefit of the doubt by Italians having survived numerous sex scandals, allegations of corruption and having links with organised crime and worst perhaps, humiliating his country through appalling behaviour. I don’t need to remind you (but I’m going to because it’s fun) that only a few weeks ago, as fellow European leaders tried to find a solution to Italy’s debt problem, Berlusconi called the person he must have onside if Italy is to have any chance of recovery, German leader Angela Merkel, an “unfuckable lardarse.”

The biggest problem isd none of the surviving worl leaders inspire any more confidence than the Bunga – bunga man. And the others aren’t even funny.

Italy will be better off without such a leader you might well say, but will they? With Berlusconi stepping down and his ruling coalition in disarray and unable to agree an austerity program to control the debt, the likely winners in elections due to be held early next year are a coalition of socialists, comunists and greens. And their plan for reducing Italy’s massive debt burden is to borrow the money they need from China and Germany.

Somehow Little Nicky gets the impression we have not seen or heard the last of Snr. Berlusconi.

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Germany Tells America What It Needed To Be Told

Two of our recent posts from The Daily Stirrer:

Germany and America were squaring up for a head banging contest like two rutting stags on Tuesday night after Berlin savaged plans put forward tby Timoth Geithner, arcitecht of the Obama admisitrations loonytoons spend, borow and spend economic policy, which demanded the EU boost the rescue fund set up to bail out failing Euro zone nations as a “stupid idea” and told the White House to sort out its own mess before offering unrequested advice to others.

Germany Slams American Plans For Euro Rescue

Europe, the G20, and the global authorities are drinking in the last chance saloon to deploy a cliche, as they try to come up with a plan to contain the EMU debt crisis. The must come up with a workable solution or abdicate responsibility and watch as the world slides into depression, endangering the benign but fragile order that has taken shape over the last three decades. Failure to do so will result in collapse of the system as a Greek default on it’s debt.

Obama’s Sidekick Makes Europe Responsible For Saving The Global Economy.

It’s The Sovereignty, Stupid

Frau Merkel has been punished by German voters for saddling them with huge tax bills to bail out the eurozone basket cases and keep the single European superstate dream alive.

President Bill Clinton swung the 1992 presidential election campaign in his favour when his chief political strategist, James Carville, hung a sign in the Clinton campaign HQ that read, “ It’s The Economy Stupid”. The phrase focused the minds of voters on George Bush senior’s economic record.

The state of the economy is the main factor in most elections, but not always. John Major famously won the UK general election of the same year into the face of an even more worse recession than the one out in the US by putting reminders of Labou’s previos economic disasters to the fromt of people’s minds.

We live in an era when every established turth seems to get turned upside down. The latest example of this is Angela Merkel’s Christian Democrat Union suffering a crushing defeat at the hands of the Greens in one her most solidly Christian Democrat regional strongholds, Baden-Wuerttemberg. The electoral setback, latest in a run of defeats in regional and local elections, had virtually nothing to do with the German economy, which for the time being is about the only one inEurope that is solvent. Unemployment is below pre creit crunch levels and output surging. The German economy is the economic powerhouse of the west.

Frau Merkel’s fortunes have instead been determined by mainly by events in the Eurozone basket case economies of the Club Med nations. always fringe economies in the eurozone. The German government’s decision to bail out debtor nations such as Greece, Ireland and Portugal has aroused eurosceptic emotions among German taxpayers who will have to foot the bill for their government’s commitment to the federalisation project.

Whether the German chancellor likes it not, in the wake of this result she will become more reliant on support from some failrly flaky opposition parties, which in turn will feed uncertainty about German support for further eurozone bailouts. European solidarity has always been more of a political than a popular movement with voters in most nations mistrustful of the ‘one-global-nation’ New World Order tendencies of their leaders, none more so than the Germans, which at grass roots level is probably even more eurospectic than Britain.

Germans were not given the chance to vote in a referendum on the euro, and with good reason; they would have rejected it out of hand if allowed one. Understandably, they now balk at the idea of having to bailout the profligate governments of what they see as tepramenally lazy nations. Frau Merkel is being kicked for her “I’ll do whatever it takes” stance on saving the euro. Her political room for manoeuvre in future is being eroded with every electoral setback. With Greek and Irish voters resentful of the austerity measures imposed by the bail out agreements (Portugals is not yet finalised) and likely to bring down the fragile coalitions that run their nations the future of the Eurozone looks bleak.

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Euro Uber Alles

Last week The Daily Stirrer reported:

European leaders managed to reach an agreement on how to tackle the debt crisis afflicting the nations using the single currency, in the early hours of this morning. The deal was only concluded after significant concessions from Germany. “The fundamental path was …

European Leaders Agree Deal On Eurozone Bail Out Fund

Not everything was sweetness and light however.

European leaders in the smaller states felt the Germans had held a gun to their heads and squeezed concession on sovereignty out of them in the name of saving the Euro.

Euro Uber Alles

The new bigger bailout fund will not solve the sovereign debt crisis so we must wonder what the real agenda was. From outside the Eurozone but in the EU it looks like a giant leap towards the creation of the Brussels Bureau Rat’s wet dream, a single European Superstate.

Euro Going Down The Portugese Toilet

Political paralysis in Brussels and monetary tightening by the European Central Bank has set off a fresh spasm of the eurozone bond crisis as Portugal’s credit rating is downgraded and debt interest threatens toi cripple the country.

Is this the end of the Euro and with it the autoriratian dreams of the Bureau Rats in Brussels of a singe European superstate

EU Bond Crisis Worsens

We hope so.

Eurodebt Threatens Portugal – Inflation Threatens Your Pocket

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.

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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 Inflation“The 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 Tax
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

title-10459736

Just a cople of links to the latest Daily Stirrer posts:

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?
The Debt Threat To Our Way Of Life

Francis Maude, the Cabinet Office minister, claimed that many PFI deals were “ghastly” and imposed an unfair “penalty” on schools, hospitals and other public services. It is understood that Cabinet Office and Treasury officials are examining PFI contracts worth billions of pounds, looking for ways to claw back money for taxpayers. Signalling an end to the era of PFI.Coalition Government Urged To Make PFI Profiteers To Repay Funds

Well that’s nice of him but although the worst PFI deals were made by Labour let’s not forget it was the Tories who introduced the scheme when Maggie was running things.

Debt and the Telephone Thugs

Bullying Telephone Debt Collectors

A little known consequence of the global financial crisis has been that the banks which own many of the major credit card brands, Barclaycard, MBNA, Goldfish, have bundled up bad debt and sold it on for about 10p in the pound to some pretty unpleasant people who are now contracting telephone bullies to recover as much asd they can. As the thuigs who run the debt collection services are paid on commission they have a huge incentive to screw as much as they can out of you by …
READ full post Bullying Telephone Debt Collectors.

Loonytoons Economics Attacts Bond Vultures

Which way will the economic crisis go in 2010? Cracks are apearing in the Europen Single Currency scheme and China which has massive holdings of US treasury bonds is making unhappy noises about the dececits being run up by the Obama administration as they pursue loonytoons economic policies…

Read an analysis at The Daily Stirrer: Interesting Times – Where The Economy Is Going Inb 2010

Bond Villain Targets Britain

The Future Is Cancelled

After taking a few days to digest Chancellor Darling’s Pre Budget Report (and not much else as I have been a tad off colour – and that’s not just the humour on Boggart Blog – I have found that all the optimism and “recovery is just around the corner bullshit is just Labour spin.

What has happened in the bond markets since the PBR exposed our darling Chancellor’s borrowing plans to reinflate the economic bubble with debt shows we are totally up shit creek.

Any signs of movement in the UK economy merely show it is turning into a zombie.

The Future Is Cancelled

Follow our debt crisis round up at Greenteeth Labyrinth