Express 6/3/09
Posted by Merk
March 6th, 2009
Categories: Express Watch, Front Pages |
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Huge inflation risk, would this be the huge inflation that the Tories presided over in those glorious eras of Thatcher and Major.
Savers are ruined = Savers are not really saving just holding money and unless the banking system collaspes they won’t be that ruined. (They would be ironically if the Tories were in power as that’s exactly what there policy would have done)
As for the end to free banking, I don’t see that anywhere? As Vince Cable said and he is right as usual, this is the only option open to the government and that they need to be careful over inflation. However Inflation is pretty low compared to previous recessions throughout the 80’s and possibly is worth doing.
What do the Express want? for the government do nothing let everyone suffer and somehow it will all become bright tomorrow, Osbourne’s and Tories plans have been torched whenever mentioned, they are useless and have been from day one and yet doing nothing is still seen as a viable option. I hope this recession is easing once they get back into power because without Ken Clarke they sounded and looked pretty useless.
Spend that money on carpet madness.
Carpet madness??
THIS. IS. SPARTAAAAA. Look at our beautiful rugs.
“Bravest of the Brave” surely this is an award for anyone seen walking out of a newsagents with the DE in their hand!
The end of free banking’s coming because the banks aren’t able to use punitive charges to milk the irresponsible and give the rest of us a free ride.
I seem to remember the Express and Mail have generally been on the side of the irresponsible in the past.
They’ve tried to con people that it was the Gov’s fault for letting the housing market go nuts.
It wasn’t
(although I do agree the housing market had been allowed to go nuts).
If that was all it was ‘we’ (in the UK & USA) would be hit to the tune of a few tens or maybe hundreds of billion £/$.
A major headache to be sure but one that could have been gotten over as everytime before – large as it would have been it represents a fraction of the economic value of 1yrs economic earnings in the UK & USA.
The difference this time is that the financiers and bankers ran up real debts (on their various derivative schemes) of a few hundred trillion £/$.
This represents multiples of the annual economic earnings of the UK & USA.
That’s why people are white with fear (talk to anyone in banking with half a clue about what they’ve done) and we now see the unique sight of western Govs throwing hundreds of billions of £/$ at the problem.
Watching that greasy creepy boy Osborne continually on the mdia attempting to points-score at every opportunity (whilst, laughably, ending up saying they’d be doing something similar to this ‘quantitive easing’) is tragic.
He mustn’t have noticed how this is effecting markets all over the world.
The problem is not inflation but deflation…stupid express.
OOOps.
Turns out my info was out of date.
In 2007 & 2008 private borrowing (including mortgages) exceeded the British GDP for the first time.
About £1.34 trillion compared to £1.33 trillion.
Nevertheless, the admitted derivative losses so far total almost $700 trillion.
Like I said, the claims about private borrowing and the housing market gone nuts are just diversion.
It’s Jacko’s final curtain because he’s been infected by the CARPET MADNESS! Or maybe he’s taking the gamble?