Something of an absolute sensation is breaking in the United States! It would appear that, at the behest of some independent politicians, the Federal Reserve Bank was placed under audit for the first time in over 100 years. The results indicate that in a period between December 2007 and June 2010 the American bankers 'loaned' out 16 trillion dollars (that is 16,000,000,000,000.00) to banks all over the world at 0% interest.
Now I know that it has nothing to with us this side of the pond but actually in this case it does have something to do with us. You see Barclays got $868,000,000,000, The Royal Bank of Scotland got $541,000,000,000 and the Bank of Scotland $181.000.000.000. These are the banks who of course cannot lend to small businesses because the climate is too tough.
I will not pretend to understand banking or international finance but where is this money coming from? Are they printing it, because if they are printing dollars and we are printing pounds what will eventually happen to the world's economy and what are the recipient banks actually doing with it?
I look forward to Ed Miliband in the first PM's Question Time asking 'Dave' on behalf of the public for an explanation of why there has been this major cover up on the economy? The irresponsibility of the banks and the collusion from the Bank of England indicates that our politicians have got to act quickly. Clearly bankers cannot be trusted but do you know what...it won't happen, the politicians will ignore it so that one day we will all wake up with nothing!
Showing posts with label The Credit Crunch. Show all posts
Showing posts with label The Credit Crunch. Show all posts
Sunday, 2 September 2012
Saturday, 23 June 2012
The Banking System
I received an apology from NatWest this evening in case I had been affected by 'technical issues' which had disrupted their computer system. They are currently working 'around the clock' to resolve the problem. In the meantime certain customers had not had payments credited to their accounts on time.
My initial reaction was of little concern because as far as I know my accounts had not been affected. Then I received this and I began to sit up and take notice. Surely it is highly unusual for TWO major banks to have 'technical issues' at the same time?
It may just be a coincidence but we are constantly receiving warnings that the western economies are at breaking point. Already Greece is destitute and Spain is following suit. Major British banks are also having their credit ratings downgraded and there are further doubts about Santander.
If there was a problem then I would bet that the public would be the last to know. It is all getting a little bit smelly. If a country the size of Spain requires a £400 billion bail out then I would suggest that it is insolvent. Is Italy next or is it Ireland or Portugal? What are the politicians doing about it all? I get the impression that everyone is waiting for Germany to bail them out and Frau Merkel is not keen on that plan. After all she too has to face an electorate!
My initial reaction was of little concern because as far as I know my accounts had not been affected. Then I received this and I began to sit up and take notice. Surely it is highly unusual for TWO major banks to have 'technical issues' at the same time?
It may just be a coincidence but we are constantly receiving warnings that the western economies are at breaking point. Already Greece is destitute and Spain is following suit. Major British banks are also having their credit ratings downgraded and there are further doubts about Santander.
If there was a problem then I would bet that the public would be the last to know. It is all getting a little bit smelly. If a country the size of Spain requires a £400 billion bail out then I would suggest that it is insolvent. Is Italy next or is it Ireland or Portugal? What are the politicians doing about it all? I get the impression that everyone is waiting for Germany to bail them out and Frau Merkel is not keen on that plan. After all she too has to face an electorate!
Monday, 14 May 2012
The European Union is doomed!
Most of the past 30 years I have dreamt of the collapse of the EU. It now appears inevitable and yet the misery it will bring fills me with despair. The reason for this is my recent discovery of the power of the Rothschilds. They have been manipulating world events for some 300 years or so and now they clearly have a plan to dissolve the economy of every western democracy.
I believe that it will begin in Greece but continue throughout Europe and we will not be immune. It appears to have been planned and preordained. Nothing appears to be able to halt this collapse and we should all prepare for an awful period of austerity. I have a firmly held belief that we may in the next five years be reduced to barter.
The European Union is the brainchild of the Rothschild banking dynasty. It was created to reduce the power of the western democracies. I am unable to predict the evil intentions of this all powerful New World Order but it will change all our lives.
On the surface we maintain an orderly, civilised society. Most of the population have no idea that their lives could be disrupted irrevocably very soon. Greece is such a long way from our shores and so is Iran. These countries have nothing to do with us but I believe in history that they will play a major part in the future.
Just remember prior to the banking collapse under Gordon Brown even the Bank of England did not warn us of the impending disaster. The Bank of England belongs to the Rothschilds. Every country in the EU borrows money from the International Monetary Fund (IMF) which belongs to the Rothschilds! Every UK government in recent history borrows money from the Rothschilds to grant Foreign Aid to poorer countries. We don't have that money we borrow it!
We also borrow all the money to remain in the EU. We borrow it from the Rothschilds and then give it back to them. Currently we owe them a trillion pounds to belong to their club! Good scheme eh?
Common Purpose and every Quango belongs to the Rothschilds so every official employed by every quango and probably every local authority owe their excessive salaries to the Rothschilds. They have corrupted almost all walks of life but most of the people that they head hunted believe that they had been selected for their skill and not because they were corruptible.
It is evil genius at work. It has worked for centuries but it is only since 9/11 that they have almost fulfilled their probable ambitions of ruling the world. Since they engineered the invasions of Iraq, Afghanistan and Libya and recently Syria the invasion of the world is almost complete. These were the only countries that the Rothschilds had failed to conquer economically. Only North Korea, Cuba and Iran now stand in their way. One has to ask if the Twin Towers were spectacularly brought down by banking ambitions?
We all feel sympathy for the rebels in Syria but please remember that the media is owned by the Rothschilds. They pay the rebels to rebel and then blame the regime for their reaction. The government of Syria is trying to keep the Rothschilds at bay and yet the people are being paid to shed blood like they did in Libya. In my opinion they are being paid to die so that a Central Bank can be installed in Syria.
Prior to the rebellion in Libya that country had no sovereign debt. Colonel Gadaffi ruled supreme but he spent the money on the Libyans and did not need the Rothschilds. After the conflict we now have the Central Bank of Benghazi! Nuff said! Heh all I am trying to do is provoke someone somewhere to think outside of the box. We could be in a lot more trouble than we think. I am already growing vegetables!
I believe that it will begin in Greece but continue throughout Europe and we will not be immune. It appears to have been planned and preordained. Nothing appears to be able to halt this collapse and we should all prepare for an awful period of austerity. I have a firmly held belief that we may in the next five years be reduced to barter.
The European Union is the brainchild of the Rothschild banking dynasty. It was created to reduce the power of the western democracies. I am unable to predict the evil intentions of this all powerful New World Order but it will change all our lives.
On the surface we maintain an orderly, civilised society. Most of the population have no idea that their lives could be disrupted irrevocably very soon. Greece is such a long way from our shores and so is Iran. These countries have nothing to do with us but I believe in history that they will play a major part in the future.
Just remember prior to the banking collapse under Gordon Brown even the Bank of England did not warn us of the impending disaster. The Bank of England belongs to the Rothschilds. Every country in the EU borrows money from the International Monetary Fund (IMF) which belongs to the Rothschilds! Every UK government in recent history borrows money from the Rothschilds to grant Foreign Aid to poorer countries. We don't have that money we borrow it!
We also borrow all the money to remain in the EU. We borrow it from the Rothschilds and then give it back to them. Currently we owe them a trillion pounds to belong to their club! Good scheme eh?
Common Purpose and every Quango belongs to the Rothschilds so every official employed by every quango and probably every local authority owe their excessive salaries to the Rothschilds. They have corrupted almost all walks of life but most of the people that they head hunted believe that they had been selected for their skill and not because they were corruptible.
It is evil genius at work. It has worked for centuries but it is only since 9/11 that they have almost fulfilled their probable ambitions of ruling the world. Since they engineered the invasions of Iraq, Afghanistan and Libya and recently Syria the invasion of the world is almost complete. These were the only countries that the Rothschilds had failed to conquer economically. Only North Korea, Cuba and Iran now stand in their way. One has to ask if the Twin Towers were spectacularly brought down by banking ambitions?
We all feel sympathy for the rebels in Syria but please remember that the media is owned by the Rothschilds. They pay the rebels to rebel and then blame the regime for their reaction. The government of Syria is trying to keep the Rothschilds at bay and yet the people are being paid to shed blood like they did in Libya. In my opinion they are being paid to die so that a Central Bank can be installed in Syria.
Prior to the rebellion in Libya that country had no sovereign debt. Colonel Gadaffi ruled supreme but he spent the money on the Libyans and did not need the Rothschilds. After the conflict we now have the Central Bank of Benghazi! Nuff said! Heh all I am trying to do is provoke someone somewhere to think outside of the box. We could be in a lot more trouble than we think. I am already growing vegetables!
Sunday, 4 July 2010
The NHS Executives...rich beyond belief!
At last the salaries of government executives are being leaked into the public domain. These are the men who have taken full advantage of New Labour's inability to keep a lid on public expenditure. One of the most trumpeted of Gorgon Brown's excuses for losing grip of the public finances was his oft repeated excuse that the recession began in the United States. Every time he was approached about our serious financial position he called it 'The World Recession' thus deflecting blame from him and his useless cabinet.
Now we know why we had a serious financial position and it was one of the first topics that I blogged about when I first set up this blog. That was two and a half years ago I was really concerned about the dreadful waste of public money then. The word I used was 'untenable' but I had vey little idea how many people were drinking at the public trough and to what extent.
Today we learn that 320 executives of the National Health Service were earning more than the Prime Minister. 53 of them are earning more than £200,000 and let's hear it for Ian Miller who as Interim Director of Finance and Investment for the South East Coast Strategic Helath Auhthority who took pole position when he negotiated himself £305-310,000 for 9.3 months! Wow that is breathtaking! I wonder how many members of the public lost operations because of this salary. How many paramedics could have been recruited? How many special bits of equipment could have been bought to save lives?
This is the problem you see...these people were actually taking a far, far too large a slice of the cake and someone has always got to suffer. Now remember this is the NHS and now we all know why billions were poured into this monster and billions were obviously eaten up without an operation being completed. We must also remember that if these National Health Service Trusts would agree these salaries what were they spending on consultants and quangos?
I suspect that we may never discover the full extent of the profligacy in the NHS but David Cameron now knows where to begin the cuts...pass the knife PM I know where I would stick it!
Now we know why we had a serious financial position and it was one of the first topics that I blogged about when I first set up this blog. That was two and a half years ago I was really concerned about the dreadful waste of public money then. The word I used was 'untenable' but I had vey little idea how many people were drinking at the public trough and to what extent.
Today we learn that 320 executives of the National Health Service were earning more than the Prime Minister. 53 of them are earning more than £200,000 and let's hear it for Ian Miller who as Interim Director of Finance and Investment for the South East Coast Strategic Helath Auhthority who took pole position when he negotiated himself £305-310,000 for 9.3 months! Wow that is breathtaking! I wonder how many members of the public lost operations because of this salary. How many paramedics could have been recruited? How many special bits of equipment could have been bought to save lives?
This is the problem you see...these people were actually taking a far, far too large a slice of the cake and someone has always got to suffer. Now remember this is the NHS and now we all know why billions were poured into this monster and billions were obviously eaten up without an operation being completed. We must also remember that if these National Health Service Trusts would agree these salaries what were they spending on consultants and quangos?
I suspect that we may never discover the full extent of the profligacy in the NHS but David Cameron now knows where to begin the cuts...pass the knife PM I know where I would stick it!
Sunday, 15 February 2009
KPMG
There was a time that the financial consultancy KPMG had an impeccable reputation but suddenly they have been mentioned by both Gordon Brown and Alistair Darling as being the paragons of virtue.
Suddenly I am beginning to think that something is wrong. At the time of writing I have no reason to suspect KPMG of any wrongdoing but experience has taught me that any company mentioned by NoLab as being independent usually ends up as being totally biased towards their aims and goals.
Do KPMG also act for any of the banks? As I say I have really no idea but I suspect anything which supports Gordon and Alistair.
Suddenly I am beginning to think that something is wrong. At the time of writing I have no reason to suspect KPMG of any wrongdoing but experience has taught me that any company mentioned by NoLab as being independent usually ends up as being totally biased towards their aims and goals.
Do KPMG also act for any of the banks? As I say I have really no idea but I suspect anything which supports Gordon and Alistair.
Tuesday, 10 February 2009
The Depression/Recession
I read that Gordon Brown is revisiting the events after the depression/recession in the nineteen twenties/thirties. There is a thought that Gordon might try and form a National Government which would include David Cameron and Nick Clegg so that the public do not get a vote. After all if you include all the main parties and their agendas all follow the line that we are all in thrall of the European Union then the solution is obvious.
That way all the disciples of Europe can gain a foothold in power and the electorate can be ignored. I am absolutely convinced that Gordon will try everything in his power to avoid a fair democratic election when the times comes. I am almost equally convinced that, however horrible it may be to countenance, that eventually the people in this country will have to take to the streets to restore democracy. I seriously hope not but we are facing unprecedented times.
That way all the disciples of Europe can gain a foothold in power and the electorate can be ignored. I am absolutely convinced that Gordon will try everything in his power to avoid a fair democratic election when the times comes. I am almost equally convinced that, however horrible it may be to countenance, that eventually the people in this country will have to take to the streets to restore democracy. I seriously hope not but we are facing unprecedented times.
None of them were qualified to run a Bank!
I am watching ITV news and I am absolutely astounded that the heads of four of the major banks who were paid millions of pounds to almost ruin our economy had not a single relevant qualification between them! No wonder they went bust!
The blogosphere is working overtime on this and Jacqui Smith. Some of these Blogs are doing a brilliant job and if you can stand the language I once again recommend 'Old Holborn'.
I have just picked up on Paul Waugh of the Evening Standard who has dug deeply into the problems with the banking system and finds a real live link back to Gordon Brown. Once again the so called Scottish Mafia is the prime suspect and once again the prime suspect appears to have a very shallow banking background.
The blogosphere is working overtime on this and Jacqui Smith. Some of these Blogs are doing a brilliant job and if you can stand the language I once again recommend 'Old Holborn'.
I have just picked up on Paul Waugh of the Evening Standard who has dug deeply into the problems with the banking system and finds a real live link back to Gordon Brown. Once again the so called Scottish Mafia is the prime suspect and once again the prime suspect appears to have a very shallow banking background.
Thursday, 29 January 2009
The Streets of Paris!
Tonight I watched the French confront their gendarmes on the streets of the cities in France. Their beef? They were protesting about their governments reaction to the credit crunch. They believe that President Sarcozy is giving the banks an easy time despite the fact that they let their nation down. Can you believe that? A million people have apparently erupted with fury because they believe that their government has let them down.
Ha! Mon dieu! Those crazy French have once again demonstrated how latin they are. Have they no restraint? Where is their stiff upper lip? Surely they should all quiver like we do whenever Gordon Brown pronounces that he is the best person to lead us to the promised land and the current financial position of this once great nation has been destroyed by his actions.
We will never rid ourselves of this destroyer unless we physically get rid of him. I cannot believe that his own party are prepared to allow him to continue when he is destroying them and our country. Still I suppose that for most of them another eighteen months of slurping in the public trough will set them up for life.
Why have we all become cowards? It is so shameful that the French are showing us the path ahead.
Ha! Mon dieu! Those crazy French have once again demonstrated how latin they are. Have they no restraint? Where is their stiff upper lip? Surely they should all quiver like we do whenever Gordon Brown pronounces that he is the best person to lead us to the promised land and the current financial position of this once great nation has been destroyed by his actions.
We will never rid ourselves of this destroyer unless we physically get rid of him. I cannot believe that his own party are prepared to allow him to continue when he is destroying them and our country. Still I suppose that for most of them another eighteen months of slurping in the public trough will set them up for life.
Why have we all become cowards? It is so shameful that the French are showing us the path ahead.
Monday, 19 January 2009
The Banking Industry TV Show - You decide!
I've just watched Vince Cable speaking in the House of Commons and I must admit he appears to be one of the few people in parliament who has got a grasp of the fundamentals of economics. In order to disguise their part in the economic downturn this government has consistently concealed the extent of the banking demise brought about by the incompetence and greed of the bankers.
They cannot however hide from the fact that they were the government in charge when this was happening and everyone knew that they encouraged personal debt to an unsustainable level. Gordon Brown also begged, borrowed and stole from any source that he could raid to feed the army of supporters that he has recruited to prop him up.
I find it appalling that we, the taxpayers, are being asked to pour billions into this black hole and yet nobody appears to know how deep the hole is. The government should bring the leading bankers to the House of Commons armed with their balance sheets and make them confess live on television what exactly their losses are, how they accrued and what they should have done to regulate it.
We should get a look at these people and then have a public vote, like a real live reality show, to decide who we believe and who merits more money. It is crazy that they have not been exposed and made accountable before they were bailed out with thirty seven billion pounds! It could get better because we could even vote who should go to jail!
They cannot however hide from the fact that they were the government in charge when this was happening and everyone knew that they encouraged personal debt to an unsustainable level. Gordon Brown also begged, borrowed and stole from any source that he could raid to feed the army of supporters that he has recruited to prop him up.
I find it appalling that we, the taxpayers, are being asked to pour billions into this black hole and yet nobody appears to know how deep the hole is. The government should bring the leading bankers to the House of Commons armed with their balance sheets and make them confess live on television what exactly their losses are, how they accrued and what they should have done to regulate it.
We should get a look at these people and then have a public vote, like a real live reality show, to decide who we believe and who merits more money. It is crazy that they have not been exposed and made accountable before they were bailed out with thirty seven billion pounds! It could get better because we could even vote who should go to jail!
Saturday, 6 December 2008
The Banking Bill
Guido Fawkes has flagged up an item which should be concerning all of us and is already being followed up on other blogs. This government has introduced an amendment to the Banking Bill of 1844. This Bill in simplistic terms seems to govern how much money we actually release into the community.
The government (Darling and Brown) have apparently introduced an amendment to the Bill which has kept the country on a level track for 164 years. They want to abolish the principle that the amount of money coming off the presses each week should be published so that our economy does not descend into the gutter like for example the economy of Zimbabwe.
Why do they want to do that? Why destroy a principle which has served us so well for so long? I am beginning to think that these people are becoming desperate and that really worries me. Are they really planning to print more money than is appropriate to keep our economy stable.
Can it get any worse? I guess so.
The government (Darling and Brown) have apparently introduced an amendment to the Bill which has kept the country on a level track for 164 years. They want to abolish the principle that the amount of money coming off the presses each week should be published so that our economy does not descend into the gutter like for example the economy of Zimbabwe.
Why do they want to do that? Why destroy a principle which has served us so well for so long? I am beginning to think that these people are becoming desperate and that really worries me. Are they really planning to print more money than is appropriate to keep our economy stable.
Can it get any worse? I guess so.
Thursday, 6 November 2008
What we were saying just weeks ago!
I have shamelessly lifted the following contribution posted anonymously on the Guido Fawkes blog. Guido was running a feature on the No2ID people who have 'kidnapped' the Home Secretary's DNA. It is very interesting but amongst the posts, some of which are so disgusting that they defy comment, was this message completely unconnected with the story.
It describes frighteningly how we were 'persuaded' by the government, the press and the bankers to adopt a philosophy which has eventually lead to financial disaster. Read on and can you recognise yourself? If not then you are probably well placed to ride out the credit crunch!
Politics is boring - no more boom and bust - I will not let house prices get out of control - borrow and spend - spending is good - spending is all - spending is your patriotic duty - what's the point of saving - my house is my pension - Live for today -tomorrow might never come -you can't take it with you -spending the kids inheritance - growing old disgracefully - I have a lifestyle to maintain - we're having a black granite worksurface fitted -sex and shopping - because I'm worth it -put it on the plastic - releasing equity - what's the point of leaving it sitting in the bank - I'm a shopaholic (giggle) - I'm into buy to let - I'm a property developer - houses are a great investment - spend spend spend - ignore the doom mongers - It's different this time - I'll pay you back next week honest - we bought three flats in Bulgaria as an investment - the bloody banks charged me £30 just because I went overdrawn again - we have three holidays abroad a year plus four weeks in Salcombe in the summer - the kids are spoilt rotten but I hate saying no to them - you can make money out of property without even trying - what's the point of money if you can't spend it?
It all seems a bit silly now doesn't it?
It describes frighteningly how we were 'persuaded' by the government, the press and the bankers to adopt a philosophy which has eventually lead to financial disaster. Read on and can you recognise yourself? If not then you are probably well placed to ride out the credit crunch!
Politics is boring - no more boom and bust - I will not let house prices get out of control - borrow and spend - spending is good - spending is all - spending is your patriotic duty - what's the point of saving - my house is my pension - Live for today -tomorrow might never come -you can't take it with you -spending the kids inheritance - growing old disgracefully - I have a lifestyle to maintain - we're having a black granite worksurface fitted -sex and shopping - because I'm worth it -put it on the plastic - releasing equity - what's the point of leaving it sitting in the bank - I'm a shopaholic (giggle) - I'm into buy to let - I'm a property developer - houses are a great investment - spend spend spend - ignore the doom mongers - It's different this time - I'll pay you back next week honest - we bought three flats in Bulgaria as an investment - the bloody banks charged me £30 just because I went overdrawn again - we have three holidays abroad a year plus four weeks in Salcombe in the summer - the kids are spoilt rotten but I hate saying no to them - you can make money out of property without even trying - what's the point of money if you can't spend it?
It all seems a bit silly now doesn't it?
Thursday, 30 October 2008
Gordon Brown and the Economy
Gordon Brown and his pet poodle Alistair Darling seem to believe that their answer to this credit crunch is to borrow their way out of difficulty. Has anyone ever borrowed their way out of economic difficulty? Countless of idiots have tried to do it but all they get is more heavily in debt!
Some time ago I blogged that I was concerned that if we allowed Gordon Brown to remain in control of the country he would ruin us all. You see it is my contention that Gordon is not bothered about the welfare of the British economy. His only concern is the continuation of the New Labour Project (NLP). As I have often said the employment of so many stooges on such a high salary level is unsustainable.
Gordon is borrowing way above his own self imposed fiscal rules purely to keep the project, which has already ruined our country, in place. If he is allowed to continue then heaven help our grandchildren. Single handedly this man is being allowed to ruin the economy. I am amazed that the press have never cottoned onto his plan. He has already raided pension funds, sold off gold reserves and raised tax levels so high that every aspect of our lives is affected.
Gordon Brown is pushing us so far into debt, purely to sustain the unsustainable, that his very presence in government has to be questionable. He is ruining our economy and every day that he remains in office will eventually finish us off. How can one man who was never elected in the first place cause so much harm?
Some time ago I blogged that I was concerned that if we allowed Gordon Brown to remain in control of the country he would ruin us all. You see it is my contention that Gordon is not bothered about the welfare of the British economy. His only concern is the continuation of the New Labour Project (NLP). As I have often said the employment of so many stooges on such a high salary level is unsustainable.
Gordon is borrowing way above his own self imposed fiscal rules purely to keep the project, which has already ruined our country, in place. If he is allowed to continue then heaven help our grandchildren. Single handedly this man is being allowed to ruin the economy. I am amazed that the press have never cottoned onto his plan. He has already raided pension funds, sold off gold reserves and raised tax levels so high that every aspect of our lives is affected.
Gordon Brown is pushing us so far into debt, purely to sustain the unsustainable, that his very presence in government has to be questionable. He is ruining our economy and every day that he remains in office will eventually finish us off. How can one man who was never elected in the first place cause so much harm?
Wednesday, 15 October 2008
The Housing Market
I really feel for the young! Recently I have welcomed new neighbours on either side of me. I suspect that they are successful young professionals. One of them is an estate agent and this week he seems to be at home more than he is at work. I do not know what the other side do but they are nice people.
The problem that I query is that they both bought their houses at the height of the property market prices and even if they intend to stay as long as we have stayed it could be years before they break even.
Now I know that on one side the people that they bought it from had an unbelievable offer from a relative to purchase a property which was so beyond their dreams that they could not ignore it. My former neighbour in that side also runs his own business and currently they are in rented accommodation awaiting the the completion of their dream property. I do wonder if they will regret their decision. Personally I hope that they all win because we are dealing here with hard working, honest, decent folks who are only trying to improve their lives.
I wonder in the long run who if anyone will win from this situation. I really hope that in the end they all win and do you know I think they might do that. My reasoning for this is that my neighbours have both bought a house in a lovely row. This row is south facing, not overlooked, close to urban and rural facilities and all the neighbours are solid English citizens!
I do hope that our former neighbours will also gain from their gamble because to be honest they deserve to be successful but I do fear for them! Dream houses often come at a price!
The problem that I query is that they both bought their houses at the height of the property market prices and even if they intend to stay as long as we have stayed it could be years before they break even.
Now I know that on one side the people that they bought it from had an unbelievable offer from a relative to purchase a property which was so beyond their dreams that they could not ignore it. My former neighbour in that side also runs his own business and currently they are in rented accommodation awaiting the the completion of their dream property. I do wonder if they will regret their decision. Personally I hope that they all win because we are dealing here with hard working, honest, decent folks who are only trying to improve their lives.
I wonder in the long run who if anyone will win from this situation. I really hope that in the end they all win and do you know I think they might do that. My reasoning for this is that my neighbours have both bought a house in a lovely row. This row is south facing, not overlooked, close to urban and rural facilities and all the neighbours are solid English citizens!
I do hope that our former neighbours will also gain from their gamble because to be honest they deserve to be successful but I do fear for them! Dream houses often come at a price!
Monday, 13 October 2008
The Reinvention of Gordon Brown
I cannot believe that in these dreadful financial times that some sections of the media are trying to turn it into a triumph for Gordon Brown. His ratings have apparently increased because of his handling of the crisis. How can people be so utterly stupid?
This disaster happened on Gordon Brown's watch. He has been systematically crippling the country since he put his hands on the tiller by over borrowing. He has taxed us until the pips squeaked and encouraged the police to introduce a war on motorists.
He has created an empire of special advisors, trusts, committees and quangos all who earn high salaries to ensure their loyalty. This is a crippling and unsustainable drag on the country's economy and in order to support it his Chancellor is breaking the rules on borrowing. I read that even before the borrowing, which they have had to request in order to nationalize the banks, they had already exceeded the recommended 'red line' figure of 40% of the gross national product.
At the same time he must have known that the level of personal debt in this country was also unsustainable. Ever since NoLab came into power they have been encouraging the young to go into debt. I suspect that this current generation of teens and twenties are in for a very rude shock to their culture of drink today to forget tomorrow.
Gordon Brown must have seen warning signs that the banks were overstretching themselves in their search for massive bonuses and profits. He must have known that their culture was irresponsible and dangerous and yet they were allowed to destroy their banks every bit as much as Nick Leason destroyed Behrings. The difference is that Nick was sent to prison.
I seriously object that any of these incompetent mavericks should walk away with any money at all. That includes not only bonuses or lump sums but huge pensions as well. They have forfeited the right to any compensation because they have not only failed but their actions have endangered us all. They should be sacked summarily and then criminal investigations should take effect.
If Gordon Brown was warned then he chose to ignore the warnings. If he wasn't warned then he should have been. No way should he seek to make political capital out of his failures. He is still a poor PM and all this has done is to prove it.
This disaster happened on Gordon Brown's watch. He has been systematically crippling the country since he put his hands on the tiller by over borrowing. He has taxed us until the pips squeaked and encouraged the police to introduce a war on motorists.
He has created an empire of special advisors, trusts, committees and quangos all who earn high salaries to ensure their loyalty. This is a crippling and unsustainable drag on the country's economy and in order to support it his Chancellor is breaking the rules on borrowing. I read that even before the borrowing, which they have had to request in order to nationalize the banks, they had already exceeded the recommended 'red line' figure of 40% of the gross national product.
At the same time he must have known that the level of personal debt in this country was also unsustainable. Ever since NoLab came into power they have been encouraging the young to go into debt. I suspect that this current generation of teens and twenties are in for a very rude shock to their culture of drink today to forget tomorrow.
Gordon Brown must have seen warning signs that the banks were overstretching themselves in their search for massive bonuses and profits. He must have known that their culture was irresponsible and dangerous and yet they were allowed to destroy their banks every bit as much as Nick Leason destroyed Behrings. The difference is that Nick was sent to prison.
I seriously object that any of these incompetent mavericks should walk away with any money at all. That includes not only bonuses or lump sums but huge pensions as well. They have forfeited the right to any compensation because they have not only failed but their actions have endangered us all. They should be sacked summarily and then criminal investigations should take effect.
If Gordon Brown was warned then he chose to ignore the warnings. If he wasn't warned then he should have been. No way should he seek to make political capital out of his failures. He is still a poor PM and all this has done is to prove it.
Thursday, 9 October 2008
The Credit Crunch and Iceland!
You really couldn't believe that this financial crisis could get any worse but then Iceland declares itself bankrupt and we subsequently discover that dozens of our local authorities are on the brink of losing millions! Apparently top of the list is Kent County Council who stand to lose 50 million pounds but even my own authority, Charnwood Borough Council, deposited one million in Iceland. My one question is why?
What was wrong with English banks? Why take a chance with a foreign bank? Who advised it? The questions keep mounting because in every walk of our public life greed has overtaken common sense. I have advocated for some time that what we 'old' people called 'common sense', the instinct that our parents instilled in us, has been replaced by the power of the state.
No longer are people rewarded for honest endeavour or experience they are only rewarded for supporting the right people or adopting the socially correct mantra. In modern society we don't have matrons, old fashioned police desk sergeants, foremen of apprentices or experienced Civil Servants. They have all long gone and more is the pity. That is why all this money has disappeared out of the country. Common sense would tell them that it would be better to keep the Council Tax proceedings closer to home but what do we know?
So now our glorious PM has used anti terrorist laws to threaten little Iceland. Is there nothing he won't do to make the situation worse. He has borrowed so much to save his own hide after years of boasting about 'no boom and bust' on his watch that we may never recover. Our once great country is staggering from this period of incompetence but what concerns me even more is why David Cameron is not challenging the PM.
It is all very well to claim that we are all in this together which of course we are but this PM has already proven to be incompetent and so has his Chancellor so why are the Tories not demanding more information? Why doesn't David Cameron insist on clarification of the deals that Brown is doing with the banks? He cannot possibly trust NoLab because his job is not to trust NoLab. They are the opposition for heaven's sake and yet they support the borrowing that is beyond belief!
I have this uncomfortable feeling that the people who are backing Gordon Brown are the very same people who are backing David Cameron. So let's face it our vote counts for nothing. Can anybody persuade me otherwise?
In the meantime it is the pensioners, the thrifty, the so called little people who will suffer as they always do. The fat cats who have caused this debacle should be named and shamed! They won't be because they are in the same club, the same stratosphere that NoLab have actually created. This political class protects their own and always will. The country is close to bankruptcy but of course nobody is to blame.
What was wrong with English banks? Why take a chance with a foreign bank? Who advised it? The questions keep mounting because in every walk of our public life greed has overtaken common sense. I have advocated for some time that what we 'old' people called 'common sense', the instinct that our parents instilled in us, has been replaced by the power of the state.
No longer are people rewarded for honest endeavour or experience they are only rewarded for supporting the right people or adopting the socially correct mantra. In modern society we don't have matrons, old fashioned police desk sergeants, foremen of apprentices or experienced Civil Servants. They have all long gone and more is the pity. That is why all this money has disappeared out of the country. Common sense would tell them that it would be better to keep the Council Tax proceedings closer to home but what do we know?
So now our glorious PM has used anti terrorist laws to threaten little Iceland. Is there nothing he won't do to make the situation worse. He has borrowed so much to save his own hide after years of boasting about 'no boom and bust' on his watch that we may never recover. Our once great country is staggering from this period of incompetence but what concerns me even more is why David Cameron is not challenging the PM.
It is all very well to claim that we are all in this together which of course we are but this PM has already proven to be incompetent and so has his Chancellor so why are the Tories not demanding more information? Why doesn't David Cameron insist on clarification of the deals that Brown is doing with the banks? He cannot possibly trust NoLab because his job is not to trust NoLab. They are the opposition for heaven's sake and yet they support the borrowing that is beyond belief!
I have this uncomfortable feeling that the people who are backing Gordon Brown are the very same people who are backing David Cameron. So let's face it our vote counts for nothing. Can anybody persuade me otherwise?
In the meantime it is the pensioners, the thrifty, the so called little people who will suffer as they always do. The fat cats who have caused this debacle should be named and shamed! They won't be because they are in the same club, the same stratosphere that NoLab have actually created. This political class protects their own and always will. The country is close to bankruptcy but of course nobody is to blame.
Monday, 6 October 2008
The Credit Crunch
Well who do we believe? What is going on? I believe that Sir Michael Parkinson was correct on Saturday night when he opined that the financiers have treated the western economy as if they were in a betting shop! These fools have gambled trillions away but then my question is who has been regulating them?
Where have the governmental regulatory bodies disappeared? We all know what happened after Nick Leason brought down Behrings but has greed superceded common sense. We have still not introduced a system where those who are responsible for this disgrace will lose their houses, their yachts or their status. Nobody will name and shame them. This is down to the government. A Labour government would hound them down but a NoLab government props them up.
I cannot believe our financial regulatory services could not predict that we had overstretched ourselves. It is a joke but not a very funny joke. Somebody, somewhere has totally outfoxed every western government and that is a real problem.
Are we all not sick of the statement that our government is ready to do 'everything that is necessary' to keep us all safe? It is the same as 'I am getting on with the job'. They have not a clue and that is really scary.
Personally my savings hopefully will not be affected because I am not that rich but if I had a million I would really be worried. This 'government' whether it be led by Blair or Brown have capitulated to the money markets. I would really like to know what Alistair Darling is going to do and I don't want to hear that he is going to do 'everything that is necessary'.
TELL US SOMETHING!!
Where have the governmental regulatory bodies disappeared? We all know what happened after Nick Leason brought down Behrings but has greed superceded common sense. We have still not introduced a system where those who are responsible for this disgrace will lose their houses, their yachts or their status. Nobody will name and shame them. This is down to the government. A Labour government would hound them down but a NoLab government props them up.
I cannot believe our financial regulatory services could not predict that we had overstretched ourselves. It is a joke but not a very funny joke. Somebody, somewhere has totally outfoxed every western government and that is a real problem.
Are we all not sick of the statement that our government is ready to do 'everything that is necessary' to keep us all safe? It is the same as 'I am getting on with the job'. They have not a clue and that is really scary.
Personally my savings hopefully will not be affected because I am not that rich but if I had a million I would really be worried. This 'government' whether it be led by Blair or Brown have capitulated to the money markets. I would really like to know what Alistair Darling is going to do and I don't want to hear that he is going to do 'everything that is necessary'.
TELL US SOMETHING!!
Thursday, 25 September 2008
Governments and Banks
So now we have seen the unedifying spectre of George Bush pleading on American television for the public to understand why it will be necessary for them to bail out the bankers in order to protect the western financial system which they have all but wrecked.
If they do decide on this course of action it is high time that a new set of rules were put into practice to protect the public from the banks.
In this country the taxpayer owns Northern Rock and apparently it is not the end of the problem. When we had a proper Labour party with proper values they would never have stood by and watched the bankers award themselves obscene bonuses simply for doing their jobs. It has encouraged them to take ridiculous risks in order to boost profits and earn these bonuses. Consequently it has all come down on everyone's head, crippled the housing market and ruined a lot of lives.
If NoLab had been acting like a proper government instead of cosying up to the city and allowing these scandalous malpractices to continue then we wouldn't have the situation which exists today.
What concerns me is that the people who have caused the problem are probably going to keep their money and sail into the sunset in their luxury yachts leaving the taxpayer to pick up the bill and their hard up staff to scramble for any remaining jobs.
Gordon Brown and Alistair Darling have blamed the global problems for their inability to run the economy but they must have seen this coming because the personal debt in this country had reached epidemic proportions. Youngsters leaving university had been encouraged, nay almost forced, into five figure debts long before they tried to get jobs. They were led to believe that all would be fine and that running up a debt was 'normal'.
Young couples were encouraged into huge debt in order to get onto the housing market but that too was sensible because property would always be a good investment. If you couldn't manage your debt there were companies who would repackage it, you had equity in your house and you could draw on your pension before you retired. Nothing was impossible so keep borrowing.
Now it is all coming home to roost. The people who set the rules are scarpering and the government is doing nothing to stop them. Well I am waiting for our deadly duo to draw up a new set of rules to govern the finance houses of this country. If they are using taxpayer's money to prop the banks up then it must be under a strict new set of regulations which should protect the taxpayer. Banks must be made to act in a responsible manner and at last we have got them on the run. The point is will we see it?
I am not holding my breath because so far they have spluttered and swallowed hard but nothing has been announced. It won't be long before the spivs and crooks will be back in charge again because our politicians are also spivs and crooks. We live in shocking times and we still have more time left if we ever get another election in this country. I strongly suspect that Gordon has plans to ban an election when the time comes of the grounds of National Security or some other pretext. He will never fight an election!
PS This will be my last post for a week as I am off to Spain to see friends. It will be interesting to see how the Spanish live under the European banner.
If they do decide on this course of action it is high time that a new set of rules were put into practice to protect the public from the banks.
In this country the taxpayer owns Northern Rock and apparently it is not the end of the problem. When we had a proper Labour party with proper values they would never have stood by and watched the bankers award themselves obscene bonuses simply for doing their jobs. It has encouraged them to take ridiculous risks in order to boost profits and earn these bonuses. Consequently it has all come down on everyone's head, crippled the housing market and ruined a lot of lives.
If NoLab had been acting like a proper government instead of cosying up to the city and allowing these scandalous malpractices to continue then we wouldn't have the situation which exists today.
What concerns me is that the people who have caused the problem are probably going to keep their money and sail into the sunset in their luxury yachts leaving the taxpayer to pick up the bill and their hard up staff to scramble for any remaining jobs.
Gordon Brown and Alistair Darling have blamed the global problems for their inability to run the economy but they must have seen this coming because the personal debt in this country had reached epidemic proportions. Youngsters leaving university had been encouraged, nay almost forced, into five figure debts long before they tried to get jobs. They were led to believe that all would be fine and that running up a debt was 'normal'.
Young couples were encouraged into huge debt in order to get onto the housing market but that too was sensible because property would always be a good investment. If you couldn't manage your debt there were companies who would repackage it, you had equity in your house and you could draw on your pension before you retired. Nothing was impossible so keep borrowing.
Now it is all coming home to roost. The people who set the rules are scarpering and the government is doing nothing to stop them. Well I am waiting for our deadly duo to draw up a new set of rules to govern the finance houses of this country. If they are using taxpayer's money to prop the banks up then it must be under a strict new set of regulations which should protect the taxpayer. Banks must be made to act in a responsible manner and at last we have got them on the run. The point is will we see it?
I am not holding my breath because so far they have spluttered and swallowed hard but nothing has been announced. It won't be long before the spivs and crooks will be back in charge again because our politicians are also spivs and crooks. We live in shocking times and we still have more time left if we ever get another election in this country. I strongly suspect that Gordon has plans to ban an election when the time comes of the grounds of National Security or some other pretext. He will never fight an election!
PS This will be my last post for a week as I am off to Spain to see friends. It will be interesting to see how the Spanish live under the European banner.
Sunday, 7 September 2008
The Credit Crunch
Is there anybody left in this country be it in the government or in the financial system who is going to help some of the poor devils who are losing their properties or help the elderly during the winter?
I fully understand that many of the people in trouble have overcommitted themselves and probably through greed of foolishness did not do their sums right but was it all their fault? The financial industry have recklessly been throwing money at people for the past decade. They have exercised no restraint whatsoever and much of the credit crunch is down to the handling of their foray into the American sub-prime market.
The government must also accept their share of the blame because they must have realised that there was a problem but sat on their hands until Northern Rock collapsed. In addition their interest rate strategy is failing and they have allowed the oil companies to milk the electorate without exercising any restraint on them.
So the upshot of all this mismanagemsnt is that once again the public have to pay the price of incompetence. It is those who cannot afford it who will suffer. I know that the government grant the elderly a fuel allowance but already it is not worth what it was at the start of the year. Inflation running at 10% may not mean too much to those MPs who have access to public money to fund Sky TV and their John Lewis purchases but to pensioners on fixed incomes it is a nightmare!
What I cannot understand is the compulsory purchases of so many properties. What can these banks and building societies gain from taking a house from a family? Surely rescue packages are better than repossession? What is the government doing about it? Where are the bright ideas? Are there no quangos, trusts, committees or councils who could direct the people in trouble into finding a better path or are they just there to protect government policy?
This is what I find so distasteful about NoLab. When the going really gets tough they never get going. Well I hope they have the answer during the winter because when it really gets cold people will begin to die so Gordon now is the time to reveal your big plan. Now is the time to show why you wanted to be Prime Minister. The stage is yours!!
I fully understand that many of the people in trouble have overcommitted themselves and probably through greed of foolishness did not do their sums right but was it all their fault? The financial industry have recklessly been throwing money at people for the past decade. They have exercised no restraint whatsoever and much of the credit crunch is down to the handling of their foray into the American sub-prime market.
The government must also accept their share of the blame because they must have realised that there was a problem but sat on their hands until Northern Rock collapsed. In addition their interest rate strategy is failing and they have allowed the oil companies to milk the electorate without exercising any restraint on them.
So the upshot of all this mismanagemsnt is that once again the public have to pay the price of incompetence. It is those who cannot afford it who will suffer. I know that the government grant the elderly a fuel allowance but already it is not worth what it was at the start of the year. Inflation running at 10% may not mean too much to those MPs who have access to public money to fund Sky TV and their John Lewis purchases but to pensioners on fixed incomes it is a nightmare!
What I cannot understand is the compulsory purchases of so many properties. What can these banks and building societies gain from taking a house from a family? Surely rescue packages are better than repossession? What is the government doing about it? Where are the bright ideas? Are there no quangos, trusts, committees or councils who could direct the people in trouble into finding a better path or are they just there to protect government policy?
This is what I find so distasteful about NoLab. When the going really gets tough they never get going. Well I hope they have the answer during the winter because when it really gets cold people will begin to die so Gordon now is the time to reveal your big plan. Now is the time to show why you wanted to be Prime Minister. The stage is yours!!
Monday, 19 May 2008
Coming soon - the real inflation rate .
My wife has saved her detailed shopping bills from Tesco for the past eight weeks. I am creating a spreadsheet so that we can track the real cost of shopping at Tescos and highlight where the real damage is being done to pay packets.
Stand by I think it will be an eye opener.
Stand by I think it will be an eye opener.
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