yo!..greatest story evva told...innit!
PALOOKAVILLE FINANCIAL
capitulation day
+117...
...the story so far...
...america has the worlds reserve currency...
...but...
...structural deficits, bust banks, national debt... an political malaise...
...are threatening to implode the dollar...
AMERICA HAS A NEW PRESIDENT
...but...
...he plans to borrow more money to solve the debt crisis...
...there is no plan to force the banks to declare, in full...
...their exposure to toxic assets...
ENGLAND EXPECTS
...britain has the devalued pound...
...but...
...the rest of the world is also in recession...
...so our trade gap still gets wider...
BRITAIN HAS A NEW DICTATOR
...but...
...he plans to borrow more money to solve the debt crisis...
...there is no plan to force the banks to declare, in full...
...their exposure to toxic assets...
FIRE IN THE HOLD
The US economy’s perilous condition calls for extreme fiscal activism. The new administration’s stimulus plans are by no means over the top. If anything, a fiscal injection of $800bn (€602bn, £543bn) over two years is too modest. But the implication of so strong a fiscal boost is a swift and severe worsening of the country’s long-term fiscal position.
clive crook
Gordon Brown’s government tightened its grip on Britain’s financial system...
...guaranteeing toxic assets and giving...
...the Bank of England unprecedented power to buy securities.
bloomberg
‘Time to Sell’ Treasuries, Biggest Korean Fund Says
...but...
PALOOKAVILLE FINANCIAL
capitulation day
+117...
...the story so far...
...america has the worlds reserve currency...
...but...
...structural deficits, bust banks, national debt... an political malaise...
...are threatening to implode the dollar...
AMERICA HAS A NEW PRESIDENT
...but...
...he plans to borrow more money to solve the debt crisis...
...there is no plan to force the banks to declare, in full...
...their exposure to toxic assets...
ENGLAND EXPECTS
...britain has the devalued pound...
...but...
...the rest of the world is also in recession...
...so our trade gap still gets wider...
BRITAIN HAS A NEW DICTATOR
...but...
...he plans to borrow more money to solve the debt crisis...
...there is no plan to force the banks to declare, in full...
...their exposure to toxic assets...
FIRE IN THE HOLD
The US economy’s perilous condition calls for extreme fiscal activism. The new administration’s stimulus plans are by no means over the top. If anything, a fiscal injection of $800bn (€602bn, £543bn) over two years is too modest. But the implication of so strong a fiscal boost is a swift and severe worsening of the country’s long-term fiscal position.
clive crook
Gordon Brown’s government tightened its grip on Britain’s financial system...
...guaranteeing toxic assets and giving...
...the Bank of England unprecedented power to buy securities.
bloomberg
Firefighters are failing and we're all getting scorched
Unemployment will soar to 3.4 million, thinktank warns
‘Time to Sell’ Treasuries, Biggest Korean Fund Says
Help Ireland or it will exit euro, economist warns
A leading Irish economist has called on Dublin to threaten withdrawal from the euro unless Europe's big powers do more to rescue Ireland's economy.Once again, Britain leads the world...
...in the macabre speciality of saving banks.
...but...ambrose : ..."Taken together, the rescues may make the difference between global recession and a deeper slump that causes mass unemployment and social turmoil, perhaps destroying the open global order we take for granted. We can only guess....
...but...
...but...
In the end, the only way out of all this global debt may prove to be a Biblical debt Jubilee.
...but...
Creditors are not going to like that."
telegraph
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