PALOOKAVILLE FINANCIAL stardate capitulation day+31
...Admiral Brown has won the battle of the media...
...he has arranged for our money to be given to the BANKERS so that they can sit on it and feel warmer...
...evvabody happy innit!..bollox!
...itz bankers 10 - taxpayers 0... inna contest ta see who guz BONUS or BUST...
...they think itz all ovva...
........MASSIVE TEMPERATURE DROP..!...
FINANCIAL WINTER : ECONOMIES FREEZE OVER
mish : ..."
- US leading indicators have biggest weekly plunge in 37 years.
- US leading indicators are at 33-year low.
- US Consumer sentiment drops most on record to 57.5 from 70.3, the biggest decline since monthly records began in 1978.
- US big-ticket purchase sentiment slumped to 58.9, the lowest level ever, from 75.
- Canada Consumer Confidence Drops to 26-Year Low.
- German investor expectations slumped to minus 63 from minus 41.1 in September.
- French manufacturing confidence slumped in September to the lowest in 15 years.
Britain will slump into deflation next year for the first time in half a century, experts have warned.
For the first time since 1960, the cost of living will start to shrink next year, in a worrying parallel of the Japanese "disease" of the 1990s, according to new research.
The news comes amid growing speculation that the Bank of England will soon be forced to cut borrowing costs to 2pc or below, taking them to their lowest level since it was founded in 1694.
Telegraph
guardian : Wall Street banks in $70bn staff payout
"Pay and bonus deals equivalent to 10% of US government bail-out package"
FANTASY ISLAND
simon : ..."As we reported on Friday, Mr Brown has promised to maintain his spending pledges on capital projects and public services. This is despite the fact that the economic prospects predicted at the time these pledges were made are now fantasy. Growth is non-existent, tax revenues are tumbling, borrowing is ballooning, yet Mr Brown thinks it is business as usual.
I have quoted Jim Callaghan before and, for Mr Brown's edification if no one else's, I do so again: you can't spend your way out of a recession.
Mr Brown thinks he knows better. Having also borrowed money to bail out the banks - and who is to say that will work, or that more banks might not need assistance? - the total borrowing this year is predicted to be £90 billion- £100 billion.
Given how wildly inaccurate most earlier predictions have been, we can assume that is a conservative estimate. Mr Brown has learned nothing. The debt will take generations to pay off. I hope our grandchildren will be grateful for this unwarranted imposition on them...."Telegraph
...bond market fat lady still waitin ta sing
petey : winter draws on!..
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