capitulation day
+134...
...nobody expected the spanish implosion.!.
...here in palookaville the traffic has ground to a halt...
...the wrong kind of money has brought the economy to a standstill...
...the brown boom...
...is over at last...
...now!...if only they can end the...
...brown bust.!.
Car sales plunge in worst figures since 1974
"Luxury car sales suffered most, with sales falling 65 per cent, compared to a year ago.
Fleet sales, which account for 60 per cent of the total market, fell by 35 per cent as the economic downturn forced companies to cut back on transport for staff.
It was the ninth successive month that sales have fallen compared to the previous year, the Society of Motor Manufacturers and Traders said.
The continuing slump in car sales comes after months of cutbacks within the industry with a wave of redundancies and extended factory closures...."telegraph
THE NOBEL PRIZE IS NOT WHAT IT WAS
...anatole is predicting a nobel prize for brown...
...after all not many enelected prime ministers have a patsy chancellor...
...our nobel dictator has created a spectacular bust...
...and should get some sort of recognition for it...
DEPRESSIONISM : THE ART OF THE BUST
...when peter the paintpallet started a new art movement...
...he did not realise that he would get a show so soon...
...now all the world is joining in the fun...
...currencies are out doing each other to debase themselves at his feet...
...zombie banks are casting out the demon hearsts...
...and hanging the painted one's depressionist masterpieces...
...from their atrium roofs...
DOWN IN THE JUNGLE, GOT THE BELLYACHE...
...down in the vaults the canvases are stacking up...
...toxic and unpredictable art for the new, bust millenium...
...their value rises as the other toxic assets deflate...
...paint is the future...
...for the new bust...
FORCAST NEWS
...suckers are still bettin the bust is past it's sell by...
...they think itz all over...
...normal service will be resumed and the paintings of doom...
...will be cast out of the galleries...
...but the fat lady is still waiting to sing...
...and she will not be denied...
...you can dance the danse macarbre...
...and drink the night away...
...talk yourself up till dawn...
...but...
...she will sing...
US Treasury in plans for record debt sale
"The US Treasury on Wednesday opened the floodgates of government bond issuance, revealing plans for a record debt sale in February and more frequent auctions in the months to come.
The announcement came amid growing fears about US government deficits and sent the yield on the benchmark 10-year Treasury note rising to 2.95 per cent, up from just over 2 per cent at the end of December.
The rise in Treasury yields has been pushing mortgage rates higher, complicating efforts to revive the economy. The US Federal Reserve said last week it was “prepared to” buy Treasuries if that would be a “particularly effective” way of reducing private borrowing costs.
“The Fed has to be troubled by the fact that mortgage rates have been rising and the buying of Treasuries by the Fed may come sooner than the market expects,” said William O’Donnell, UBS strategist"...FT
THE TRUTH IS OUT THERE
iain martin..."When a great many lies have been told, the antidote is usually truth. This can hurt, but without it the possibility of recovery and future happiness is remote. And so it is with today's crisis of capitalism.
If an excess of debt built with cheap money was the cause of the crisis – and it was – then more debt is not the answer. Aligning their party with this most basic but vital of insights was, as the essential Tory website Conservative Home put it, "Cameron and Osborne's bravest and loneliest decision". When the Tory leadership decided to oppose Gordon Brown's plans to borrow and spend his way out of the "Depression", as the Prime Minister called it yesterday in a revealing slip of the tongue, they were virtually alone in the western world." times
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