Well... we are all wet with excitement here in the loft. The unfinished magnum opus is collecting dust on the easel as we sit glued to the screens. The stock market is spiraling down ...
"its a f***ing waterfall". "look out below". "May Day, May Day" SOS.
The Wizard of Oz has been found out and ... BREAKING NEWS ...Financial rocket scientists have diplomas instead of brains... Medals instead of courage... and worst of all No hearts! - just tickers!
"What does it all mean Peter?" asks Opkins (the mouse)
"looks like it's back to the 70's.
- Unions are bringing their members out on strike - their pay is failing to keep up with inflation.
- Oil is rocketing in price.
- House prices are going through the roof.
- There's a banking crisis.
- Pay rises are running into double digits.
- Interest rates reach 15%. "
"Yo! - painter dude, slow down man. House prices aint risin, they fallin man!" - (its Spider) he's been on the web checkin out Nouriel Roubini.
Seems like this time it's different!
Pay aint rising for the workin stiffs, real estate sucks, interest rates is low.
It aint inflation man! - it's deflation, comin to get ya from Japan. seems like they've had it for yonks and yonks.
They had a property boom/bust and then Zombie banks. It was all covered up...swep under the carpet instead of bein busted out and started over. Looks like thats wot they tryin here now.
"Spider yo full o shit man. yo aint nuthin but a poxy spider anyway.
And that web o yorn is just bollocks dude."
Wait a minute guys (it's the mouse!) This swot in America (Rogof) has got a interestin take on this...
THE global economy is a runaway train that is slowing, but not quickly enough. That is what the extraordinary run-up in prices for oil, metals, and food is screaming at us.
The spectacular and historic global economic boom of the past six years is
about to hit a wall. Unfortunately, no one, certainly not in Asia or the US, seems willing to bite the bullet and help engineer the necessary co-ordinated retreat to sustained sub-trend growth, which is necessary so that new commodity supplies and alternatives can catch up.
Instead, governments are clawing to stretch out unsustainable booms, further pushing up commodity prices, and raising the risk of a once-in-a-lifetime economic and financial mess. All this need not end horribly, but policy makers in most regions have to start pressing hard on the brakes, not the accelerator.
Don’t look to the US for leadership in a presidential election year. On the contrary, the US government has been handing out tax-rebate cheques so that Americans will shop until they drop .....
Shit man! I don't geddit! is they is or is they aint no deflation comin?
Is they is or is they aint no inflation comin?Seems like up here in the loft us chickins got to dig a little deeper.