by Nicola Kedhi, Cap X
Photo: Getty Images
Covid has created another pretext for billions of euros to be spent on zombies
Zombie companies are in limbo: unproductive, but kept on life-support by low interest rates
As soon as interest rates start rising, Europe’s economies will face a reckoning
Once the continent of innovation, art, democracy and non-conformity, Europe has been laid low by a heady brew of bureaucracy, over-regulation, over-taxation and debt. A crisis of political leadership has in turn produced a deficiency of bold, innovative ideas, a shortage of vision and a huge expansion of government intervention. Nowhere is this clearer than in the EU’s ill-fated monetary misadventures.
Throughout the last decade, the European Central Bank has pursued a program of Quantitative Easing program that has pushed interest rates into negative territory, all in the name of keeping the EU together … Continue reading >>>
Negative Interest Rates – Final Nail In The Coffin Of Neoliberalism?
Negative interest rates, in plain terms a situation in which we pay bankers for holding our money, are the latest ruse of politicians and economists to make uis start spending our investments and savings, thus kickstarting the global economy thy have screwed up.
The age of financial privacy is over
Inland Revenue a Dysfunctional department that ‘can’t be trusted’ with power to raid bank accounts
Yes you read that right. The fascist regime in the USA has usurped to itself the right to raid bank accoutns anywhere is the world. At the moment they are only stealing money by way of tax demands from people who were born on US soil even if those people have not lived in the USA since childhood and have never be employed by a US business.
Plans to let the taxman take cash out of people’s bank accounts without their permission were condemned by MPs after Rebecca Benneyworth, of the Institute of Chartered Accountants, warned the department is ‘shooting itself in the foot.’ She told the ICAEW conference : ‘Public trust in HMRC would be eroded very quickly if cases come to light where funds have been incorrectly removed. ‘HMRC cannot afford to have public opinion turn against the tax system and those charged with administering it.’Accountants have warned HMRC cannot be trusted …
Taxes Will Rise If Government Do Not Raid Bank Accounts
Taxes will have to rise unless officials are given new powers to raid people’s bank accounts, David Cameron has said.
The Treasury select committee warned that allowing HM Revenue and Customs to remove cash from bank accounts without court orders is “very concerning” because of its history of mistakes.
Magic Money – How The Fractional Reserve Banking System Conjures Money From Fresh Air
The committee said that taxpayers could suffer “serious detriment” if officials are able, either by mistake or through an “abuse” of power, to take money from people who have done no wrong.
A look at how the fractional reserve banking system works and how it brought the global economy and many people’s personal finances close to collapse. It’s really all about pulling magic money out of fresh air.
Investors Ignore Triple Dip Regession As Stock Market Hits Four Year High
News that the British economy was staring an unprecedented triple dip recession in the face left investors unperturbed yesterday as shares on Britain’s leading index hit their highest point in since the crash four-and-a-half years ago.
Tax The Rich, Hurt The Poor
The loopy left in Britain and the USA have, throughout the cedit crunch, chanted their Tax The Rich mantra. Those who do not learn from history are condemned to repeat it of course and the left have still not learned from all the other economic catastrophes caused by attempts to redistribute wealth that taxing the rich huts the poor most.
The Folly Of Using Inflation To Reduce The Debt
As the Obama administration starts to seriously consider minting Trillion dollar coins to reduce debt by fuelling massive inflkation the Daily Stirrer’s finance expert explain why this would not work and would have catastrophic consequences.
A Dickensian Christmas Gift: Mister Micawber’s Economic Wisdom
Despite the ever growing dunghill of evidence to the contrary lefty politicians around the world continue to call for higher taxes, more government spending and collectivist solutions while the clueless Obama administration embark on another futile round of “quantitative easing. What they are trying to do is inflate away debt but inflation is the curellist stealth tax. (Also posted at Scribd)
The Cashless SocietyOmnibus page on how the elites are trying to abolish cash to facilitate total surveillance of every aspect of our lives and to remove from us the ability to control our own finances and lives
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.
You mortgage owners will suffer over the next few monthe, years maybe. The truth of our “most successful chancellor since WW2” and his mismanagement of the economy is starting to bite.
Interest rates, held artificially low by squeezing wage settlements in the public sector and promoting a debt based economy, are set to rise several times. This first increase will come just after the local elections and will drive into poverty people who stretched themselves to take on massive mortgages, behind the interest rate monster will come others, uspeakable horrors that could come from the pages of an H.P. Lovecraft story. Credit Squeeze, unemployment and negative equity. But most fearsome of all, The Truth Monster cannot be containded much longer.
The chancellors success is a lie. The economy, far from being successful under Brown has been driven into deep poo.
Inflation has not been under control, the books have been cooked, first by switching the quoted measure from the Retail Price Index the the Consumer Price Index which always gives a lower rate. When that ploy ran out of steam, thev simple expedient of excluding the most inflationary items, housing and fuel costs, from the calculation was used.
So when we hear of the Bank of England getting a snottogram from the Chancellor because the inflation rate had gone to 1% above target and now stands at 3% we all think “oh that’s pretty good really.”
But the real figure, when all those nasties Mr Broon does not bother to count are factored in is a savings eating 6%
To exclude such major and essential costs as housing and fuel from the figures is fraudulent. But fraud and mendacity are the hallmarks of this shoddy government and nothing will change once Blair is gone.