Thursday, June 25, 2009
The trillion dollar question of the moment
Call Guido old fashioned, but he somehow thinks that it might be a tad useful if the former student Trotskyite turned Chancellor, Alastair Darling, consulted the professor of economics turned career central banker, Mervyn King.
IMO: For once I do not think that Fawkes is absurd, IN FACT WHAT HE SAYS IS SO SO TRUE. But I suspect there are plenty of people better than King to consult, even Vince Cable is an obvious choice. The economic figures are bad, the moment the Americans fully realise they also are in a mess, which may only take the US retards a couple of years, things will be very bad indeed. As I have already mentioned, the US GM pension fund problem will arise in a couple of years. As just one small further example: Even now FEMA is trying to sell the cockroach infested trailer park residences of the New Orleans victims to their occupants and they will not buy some of these for even a dollar! True, some will pay up to half a sawbuck ($5) for the good trailer homes, but yes, things are worse than with Reagan - thanks to George Bush and possibly to a lesser degree even Obama. How does this leave US property prices ? And there is much, much more.
OTOH the steps Brown took in fighting the recession have mitigated its effects. Brown took decisive action while Mervyn King was still wittering about the risks of ‘moral hazard’ in preserving banks. The economic outlook is improving thanks to government efforts to stimulate the economy, according to the Organisation for Economic Cooperation and Development (OECD).
IMO: Why pay the bankers these big bonuses? The fate of Bear, Stearns and the like should have made it plain that fine talk will not solve the problems. The UK needs effective economic leadership and it has not got it. The Tories would have been far worse, Vince Cable would have been very much better at the economics of it all, but a depression is still a depression. Job losses will only start to reduce after the next election whichever party wins, as the economy takes time to react.
IMO: For once I do not think that Fawkes is absurd, IN FACT WHAT HE SAYS IS SO SO TRUE. But I suspect there are plenty of people better than King to consult, even Vince Cable is an obvious choice. The economic figures are bad, the moment the Americans fully realise they also are in a mess, which may only take the US retards a couple of years, things will be very bad indeed. As I have already mentioned, the US GM pension fund problem will arise in a couple of years. As just one small further example: Even now FEMA is trying to sell the cockroach infested trailer park residences of the New Orleans victims to their occupants and they will not buy some of these for even a dollar! True, some will pay up to half a sawbuck ($5) for the good trailer homes, but yes, things are worse than with Reagan - thanks to George Bush and possibly to a lesser degree even Obama. How does this leave US property prices ? And there is much, much more.
OTOH the steps Brown took in fighting the recession have mitigated its effects. Brown took decisive action while Mervyn King was still wittering about the risks of ‘moral hazard’ in preserving banks. The economic outlook is improving thanks to government efforts to stimulate the economy, according to the Organisation for Economic Cooperation and Development (OECD).
IMO: Why pay the bankers these big bonuses? The fate of Bear, Stearns and the like should have made it plain that fine talk will not solve the problems. The UK needs effective economic leadership and it has not got it. The Tories would have been far worse, Vince Cable would have been very much better at the economics of it all, but a depression is still a depression. Job losses will only start to reduce after the next election whichever party wins, as the economy takes time to react.
# posted by uv : 2:53 AM
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