+ + + Gilts Plunge on End of Q.E. + + +
The Iranian Model is Hitler | Lawrence J. Haas
No.10′s Andrew Cooper Should Look at this Poll | Douglas Carswell
Livingstone Has Form on Homophobia | ConservativeHome
Investors HBack Over RBS Meddling | CityAM
Riddled With It | Pink News
I Went Mad in the Seventies | Ken
Guy Newsroom Splits | Indy
Polly’s Voodoo Polling | UK Polling Report
Labour SpAd Backs the Bill | Mark Wallace
Guido Goes for the Lobby | Press Gazette
 |
 |
 |
 |
 |
Max Clifford says…
“Most people want to read nasty things about people, not nice things.”
DisgustedOfMitcham2 says:
Maybe if they really wanted to “decontaminate the Labour brand” with business people, they shouldn’t have totally buggered up the economy?
Just a thought.
That is directly your fault Mr.F.
You said end QE and now you’ve destroyed the economy!
Who’s destroyed the economy??
Didn’t know that Gordon started with a “F”
We’re all printing money together (except, now, we’re not).
Hold on fucking tight because this is where the real fun starts.
Medical treatment ain’t ever fun but necessary.
had some last week which tickled…..you cheeky man
“Shields up! Red alert”
Are we to assume the highly-paid boys and girls in the Gilts market had no inkling about QE being paused, and just went ape at 12 o’clock when it took them by surprise?
Too bloody right ….
I wonder if the Chinese have billions upon billions to throw away ?
The answer is coming soon.
Well, that’s us well and truely fucked.
Taxi for Broon!
Red alert? Are you sure, sir? That does mean changing the bulb
Whoah there captain detail!
plunged how?
lost half there value? a quarter? a few percent?
I’m no fucking economist but somehow I think things like the actual numbers might be relevant and useful here
Yeah.. guessing that’s a day graph the headline might be “Plunged 0.5% to a 3 Hour Low”
Hardly news.
at least he shoved a graph in now
the scale on a graph is all important – and this indeed seems to be unchanged on this morning, down 0.5%.
Unless the base is 100, in which case the ‘interest’ overage is down 5%
Actually someone in No 10 tells me Gordon Brown always looks at graphs upside down…so he will interpret the gilts graph as an INCREASE in prices !!
Thats not quite true MI5.
In actuality all government graphs have a large, red arrow with “This way up” printed on the back.
But that is mostly for the benefit of Ed Balls.
MI5. Brown reading the grap upside down doesn’t matter. Remember Browns’ 0% growth. This will merely be -0.5% growth.
Guido,
there are two axes on that graph. One of which does not have a scale.
Is this “plummet” over several hours? Days? Months?
With all due respect? How does this compare with Gilt prices over a longer time scale.
GCSE Fail!
I can assure you that whenever Gordon is mentioned in this family it starts with an ‘ F ‘.
the uk would be better off.
if there were no f in gordon.
Mine finishes with a “nutc” not necessarily in that order
An edit from today’s Daily Politics of what Quantitative Easing has done to the UK economy, even a complete moron can understand it the way Andrew Neil and his guest explains it…..
Sorry – run that past me again?
Did he just say we can all have methadone?
Methadone, isn’t that what New Labour voters must be on to not be able to see what Gordon Brown has done to the UK economy. All they care about is their benefits cheque. The BBC has yet to give the news that their benefits will have to be cut, can’t say that before a general election.
Another round on the UK plc corporate credit card!
Can you run that past me three times please ??
Yeah, but the card which Brown’s using to pay off the debt of the first card charges higher interest rates. The man is out to wreck this country.
Giving methadone to a heretic?
Did she really say that?
In my house Gordon starts with an F and continues ucking Gordon Brown
Gordon is right, you right wing loons don’t understand him.
Fools
I love the leader.
http://www.economicshelp.org/2008/04/hyperinflation-causes-costs-and.html
Gordon was wrong.
Printing money has a nasty tendency to lead to hyperinflation.
McBust is always wrong. If there’s a right way and a wong way, you can always rely on him to pick the wrong ‘un and then really go to town on it.
He’s always trying for the wrong’un.
Yep. That’s it. The Maximum Imbecile when presented with a choice of two possible courses of action will simply plump for the first one that comes into his head. This holds even if one course of action is 95% certain to end in disaster and the other 5% certain to end in disaster. He has just as much likelihood of going for the 95% option.
The trouble is though – it’s worse than that. Because under that scenario he would at least get half of his ditheringly deferred decisions right in the end.
Buut with Brown, by the time he even realises there is a choice to be made the Tories are there telling him he should take the course of action with only a 5% chance of going wrong. And because he’s so fucking clever and because his ego won’t allow him to look as though he’s following anybody elses advise he will then nail his colours to the mast of the most idiot option still unclaimed.
It would be hilarious to watch if it hadn’t destroyed the UK’s economy. I mean if this was Papa Doc or Bob Mugabe we’d be pissing ourself laughing at the eejits and marvelling why nobody shot the fucking imbecile in lieu of any other mechanism to get rid of the nutcase.
The right way the wrong way and the Brown way.
{The Brown way is basically the wrong way but dithered over for a few weeks}
The Brown way . . . . hmmm . . . that has a certain ring
Selling Britain’s gold at the bottom of the market was right.
Raiding pension funds to the tune of £120bn was right.
Building a 3rd runway at Heathrow is the right approach to creating a low carbon economy.
Doubling income tax for the poorest workers was right.
Spending £200bn in order to achieve 0.1% growth was right.
It might be, if you went to the Marxist Knuckleheaded School of Economics, but here on planet Earth..
I am skeptical about that 0.1% growth, particularly as Xmas falls in the fourth quarter, and you would expect that to to make it beat the third quarter anyhow. Or am I missing something?
Nope, you’re not missing anything – that’s why the smart money is on an election before the Q1 2010 growth figures are released on 23rd April
Looks like the recovery has peaked too soon, just like Labour’s opinion poll ratings.
Growth figures are seasonally adjusted to take into account little things like Christmas.
in other words you can write your own figures,try and grow up and realise you can’t believe the figures …
Quiet day at the rapid rebuttal unit today? No Nokias to rebuild?
Phone intercept fragments
February 4th 2010..11.35pm Downing Street office to Bank of England.
“you’re dead..you’re fuckin dead yahear ..you piece of m{indecipherable}
you can’t do it. I order you to run the presses Mervyn.I fuckin’ order you. I’m the Prime minister for fucks sake.i’m in charge now do it.DO IT! I say when QE ends and its not ending!
If I have to come over there I’ll rip off your balls you useless.. {incoherent}
..ser. I don’t give a monks ring Mervyn. MPC are my pawns.I decide. I’ll be Kicking them up your cock. Do as I say!!! Do as I fuck..{sound of phone breaking. Transmission ends}
Phone intercept fragments
February 4th 2010..11.45pm Downing Street office to BBC white City.
“hi, Andrew, Nick.I wanted you to be the first to know. I’ve decided to end QE. Yes..yes..well notionally its a BOE decision but..well..if I can just finish please..I decided that now the UK is well out of recession..well out of it ,yes.. look , Marr, if you keep talking you won’t hear what I have to say..Yes.. So I decided that the time had come…Pardon? Have I seen the gilts today? No why ? Lets see…F………..{sound of phone breaking. Transmission ends}
Brilliant.. genuis!
Pathetic
BROWNRUNNER
London 2045
Financial ruin has caused the city to decay. On the rooftop of the crumbling Treasury building amid the twisted and rusting broken, unused wind-turbines Dekard finds an old £50 note, folded into the shape of a unicorn. The odd, grumpy, voice of the replicant he is hunting, Rob-Roy ‘Batty’ Brown, echoes in his mind.
“The economy – Its too bad she won’t live! But then again, its not my fault!”
As the polonium rain, caused by all the dodgy nuclear power stations hurriedly built in the 20′s, falls upon him, Dekard knows that the replicant he hunts is trying to prolong his tenure.
He quickly communicates with the I.D.CCTV.4U.-SayNoToTerrorism police centre.
“He wants more time. He wants to be in power longer.He wants to restart QE. He must be going to meet his maker. I’m going to head over the Tyrell Corporation’s building for Business, Innovation and Skills and meet with , Mandyrell. ”
He got into his vehicle and engaged the electric cars weedy motor, but then switched over to bio-diesel. “Is this an emergency?” asked the metallic Harman-V computer system. “Yes” he replied.”This is an emergency. A big one.”
to be continued
“Replicants are like any other machine. They’re either a benefit or a hazard.If they’re a benefit then it’s not my problem”
Unfortunately, this one is the mother of all major hazards.
Wake up!
Time to die… or in the case of Broon…Time to go
Of course they did, no one wants to f***ing buy them.
Now; Glaxo announce 100′s of jobs to go in Uk operation
Then; Glaxo said last year that there were “wide differences in positions” between the company and HM Revenue & Customs, which might lead to litigation. But in June, the disputes were suddenly resolved “with no material impact on the expected tax rate for the year”.
This followed shortly after meetings between Glaxo executives and Gordon Brown, and public threats that Glaxo might relocate to the Republic of Ireland.
Here it comes . Canut brown thought he had commanded the waves to turn back
Stupid fuckwit has never seen how a tsunami works
Another piece of the jigsaw
http://www.independent.co.uk/news/uk/home-news/army-may-patrol-streets-to-confront-terror-threat-1889007.html
How very prescient and an ingenious analogy.
Fuck
another internet moron
try fucking googling King Knut (or Canute, or Cnut)
then experience the joy of education
and why you should not compare that Huhne brown to that King Cnut.
So what?
As you say…!
Just that Cherie Blair is out buying antiques !!
While Rome burns…
I can afford it, wanker.
Besides, we don’t have property in Rome, yet.
Talking of the haunted Lady Macbeth
http://www.telegraph.co.uk/news/newstopics/religion/7154277/Cherie-Blair-spared-violent-criminal-from-prison-because-he-was-religious.html
No surprise there – the number 1 buyer has just left the market.
No other fecker wants to buy them. Would you lend money to a company that spends more than it earns, has the highest debt level in the country and no firm plans for controlling it’s spending habits or reducing it’s debt? Oh, and the management’s in a state of flux.
Hell, no.
No one’s going to want to lend the Government money until they get a handle on the deficit, and on the national debt.
So were we buying up our own loan notes?
Now that would be nuts, even for Brown.
Oh, yes. The Bank of England was creating money, and then using it to buy gilts and corporate bonds. Hence they kept referring to it as an ‘asset purchase’ scheme. The idea is that at some point in the future, they will sell the assets they have created, and destroy the money.
Will they? I have my suspicions. QE has done nothing but prop up the Government’s out-of-control spending habit, devalue the pound, and cause a spike in inflation.
Created? I mean purchased!
They didn’t buy any corporate bonds, although it was in the original announcement when QE started.
There was no spare money after all the gilt purchases.
And illegal, but they still did it.
Through QE the Bank of England bought gilts REPRESENTING THE WHOLE DEFICIT FOR 2009…
So they’ve been virtually funding the Government’s overspending single-handedly.
Now that Governor King has seen the light, the Government is staring into the abyss… no more blank cheques.
Cuts in public spending and tax rises are a little bit closer today.
Yep. It is and was as obvious as that. 200bn quid of our own gilts purchased. Or, more likely 199.4bn quid so that Brown will be able to weasel word that we haven’t used the entire 200bn quid to ‘buy’ our own gilts.
It’s printing money pure and simple. Diluting everybodies savings and lighting a fire under anybody in a position to choose to buy our gilts that we have a government who will simply print their way out of trouble and trash other peoples savings.
We’re fucked.
How inevitable is it that we will default?
Is it just a matter of time, or is there even a slim chance we can honour these obligations?
Governments never go “bankrupt”
In the way you know it…
As in Zimbabwe, they just stop paying their employees of providing any services and print money so you need wheelbarrows to transport the cash to buy a loaf of bread …Just as in the Wiemar Republic in Germany…
Britain will have a severe auterity programme imposes on it bu the IMF or EU which will probally entail immediate 20% acress the board cutrs in government spending, followed by succesive rounds of further cute later to “balance the books”‘ left by the most corrupt, deceitful, treachurous,,nasty and incompetent government Britain has ever seen…
Oh, we can honour these obligations. The PBR states that our payments on debt are about £30billion a year – compared to tax revenues (even in recession) of £498billion.
The real problem is not our ability to afford the debt, but whether the Government (whichever party forms it) has the political will to pay it, instead of squandering it. This is what the credit rating agencies are questioning.
Even now, it is possible to get ourselves out of this mess. But it’s going to require some hard choices about public spending, and probably tax rises as well. Have any of the numpties in Westminster got the guts to see it through?
The only serious way out of this now is inflation –
MASSIVE FUCKING INFLATION
The numbers are so far away from being close to thinking about maybe balancing at some time possibly sometime in the far future, we are completely fucked.
In 3 years’ time we will be spending more on debt interest than of education and defence combined, from the govt’s own figures (PBR), massive inflation and devaluation really is now the only way out
And to think that two years ago we were laughing at Zimbabwe…
When I was a boy, back in the Dark Ages, we used to have a coin worth 2s 6d, known as ‘half a crown’ or ‘half a dollar’. And it’s true – for many years there were 4 US Dollars to the pound. Now, £1 is about $1.50.
See what just happened there? The Pound fell to nearly a third of its value against the Dollar that it had all those years ago.
Anyone like to guess what happened to make it that way? Here’s a clue: destruction of assets and savings; government incompetence; an increasing reliance on the state to solve our problems and eye-watering inflation.
That’s what we had then and that’s what we’re having again right now. And the results will be just the same and just as painful.
Its’ termed investment ya’ cranky loon!
As I have been saying. Brown has been paying the country’s monthly credit card bill, with the same credit card!
The man is a fucking idiot!
Guido
As you and many others here have been saying…
This is the beginning of the real crisis…
The Gilts market is likely to collapse…
and possible freeze so that the UK Government can no longer fund the £20 billion per month necessary to continue government business..
THEN WHAT ???
The true cost of Labour and the National lunacy of the last 13 years will become apparent.
Or in laymans terms…… WE’RE FUCKED.
the dead rising from their graves, fire & brimstone, dogs & cats living together
MASS HYSTERIA!!!!
Mass rioting more likely in 2010 and 2011….
Hence the decision seen earlier to have troops patrolling the streets.
Ghostbusters. Quality!
Who you gonna call?
Not Gorgon, that’s for sure.
Who ya gonna call?
Those Bastards!?!?!?!
maybe not!
ahh a good old ghostbusters quote….’cept in the real world, we have no one to call to sort this clusterfuck of a mess out, i would rather face gozer the gozerian, that face what is gonna happen to the uk very soon ………..!
DON’T CROSS THE STREAMS!
Its true.
This man has no dick.
I donno, thinking about it, perhaps we should cross the streams.
Gordon the stay puffed marshmallow man?
Food riots. Martial Law. Elections cancelled TFN. Then Brown can get on with the job of 1000 years of enlightened government. You know it makes sense!
Cost of imported food will rocket, and people will decide to ave a veg patch, then we find 2 Banjoes has built all these houses without gardens, and the allottments have been built on and then there’s the Olympics………..
Also this:
http://www.marketskeptics.com/2009/12/2010-food-crisis-for-dummies.html
How much of our food is home grown these days?
According to BBC ‘Crop to Shop’ last night 60%
According to Hilary ‘Dynasty’ Benn last month, also on BBC over 70% and increasing
NuLabia=Piss and Wind
Just outside my window is a large patch of the finest farmland in England.
Our local Liberal democrat Council is determined to build a huge estate of poxy boxes on it in accordance with Prescott’s plans to build ten million houses in the S.E.
It was Green belt but they changed the designation.
Why was the green belt designation brought in?
giant ants will roam the streets, Bankers will turn feral and roam in packs hunting jounalists eating their brains and thus dying of starvation fairly quickly, the official currency will be the pot noodle, transport infratructure will collapse forcing everyone to use hoverdonkey’s, Wales will go to War against the Isle of man and the dead will be the lucky ones
I’m pretty sure I saw that DVD. They all had bones through their hooters dinnay?
Only if the Manxers come to Wales, otherwise the Welsh will not bother. Too far to travel.
You forgot the bit about the invading sea tanks and the melting polar glaciers.
The Krappen Wakes!
The dead ARE the lucky ones in Wales already.
According to my daughter at University in Wales, their currency already is the humble pot noodle.
Although she may be moving over to the weetabix soon.
A thousand-year Reich!
Judging by the queue at the ‘baccy’ counter in Asda, Wednesday is benefit day. I was wondering, when the government can no longer afford to print benefit cheques (er, now) and no-one is prepared to lend them money, at what point do people stop queuing and start rioting? How long would it take? Two or three days?
I thought “Any nation is three meals from revolution”
It will happen the first giro day after enacting the decision, although an Eastenders omnibus may delay it somewhat..
Let them eat brioche!
Or Big . . . . what are those things called….?
Now now Miss Pollytwaddle…
Calm down…
But you will be in Tuscany when the sh**t hits the fan I assume ?
I am always right.
I am never wrong.
And Gorgon has Britain going for a song.
But here, in Tus-can-ee,
Mr BellyScone
Will look after me.
but I’ll always have a place in my heart for Gorgon – and his huge . . just the thought drives me ……. Oh I’m going into status polytwadlicus again . . . .. . . no …. don’t help me . . . let me enjoy the sweet agon-eee
what is it they say? 8 meals from anarchy I think
THEN WHAT?
Well, let’s just say that government spending will be falling somewhat quicker than most had planned for in the next few months!
Who will be “cut off” first ???
Police and army will be thelast to be asked to take a pay-cut.
He’s going to need them.
Indeed. That is why they were issued with all those tasers some months ago
Now you watch out for the following.
In order to contain Civil unrest:
Give the Police and the Armed Forces inflation busting payrises.
Local government offices begin internal briefings on a triage system for services.
CPSO are given the powers of arrest, detention and receive riot skills training.
Stockpiling of natural resources. Look out for mountains of coal outside powerstations.
Purchase orders of CS gas, water cannon and rubber bullets increase above and beyond levels seen in the past 15 years.
Government looks into the compulsory purchase of communications assets. BT, VirginMedia and the BBC are called to the Home Office to report on their available assets, redundant systems and disaster recovery planning.
p.s.
Buy Baked Beans and Gold now.
PCSO’s traffic wardens and other low-level-state employees already have been given the powers of arrest, detention, entering homes etc… They are just not allowed to use these powers yet. They have been granted and the police is to be militarised and used to assist the Army. These plans are already in motion now.
Thank you Ned for the heads up regarding PCSOs
After a bit of digging I find that they can detain you for a maximum of 30 minutes, pending the arrival of a Police Officer.
They can stop a vehicle under the guise of “testing”.
They can seize vehicles driven carelessly, inconsderately or dangerously, and are cuasing alarm or distress.
Stop & Search individuals as part of the Terrorism Act 2000.
etc…
http://www.asb.homeoffice.gov.uk/members/article.aspx?id=8210
Why does Guido never link? would be quite helpful to link to a news story that supported what he says. Instead no link? Happens all the time – and very annoying (although at least this time I do at least know what story he is referring to)
What a load of bollocks. Have a full refund and fuck off. That chart is taken from Guido’s own trading screen. It is news originated from Guido’s desk not copied from Reuters you twat.
Go Guido!
Well it is Guido’s blog, he can bitch-slap who he likes.
You must be making a few bob on Gilts Guido…
Good for you…!
Chuckles at the bitchslap – lord knows what you would be like if someone actually pissed you off!
I’m not surprised Guido’s pissed off. No sign of him on this list:
http://www.telegraph.co.uk/technology/twitter/7153433/Perez-Hilton-holds-off-TechCrunch-Mashable-and-Twitter-founders-in-web-influence-list.html
A travesty…
questionable then.
Tutty, tut, tut.
Hell hath no fury like a Fawkes scorned.
Oddly deja vu, though.
Still, enough of this idle speculation.
Come, Guido, pretty please, give us the lowdown on gold (tungsten optional if you’re still feeling coy).
Tinfoil hat already donned.
Paul B….the B is for Bitch. BITCH slapped by the Fawkes!
Its partly why Iris bought that new bed. To hide under now that the end is coming.
Partly..
and she needed another mattress to stuff all the money in …..
Thought she was doing the ‘coming’.
I was giving a speech at The House Of Commons last night, when Mrs Commons stood up and told me to get out of their house.
twat
Might be a better strategy if Gordon switched to selling Big Issues?
If he could get a grasp of big issues.
Well, he’s good at selling things at the bottom of the market.
Gordon’s strategy to sell the Big Issue:
1. Borrow £100bn.
2.
SpendInvest the £100bn on a Department of Big Issue Purchasing.3. Department buys 50 copies of the Big Issue.
4. Department sells two of them.
4. Gordon tells everyone it’s been a big success.
I know there are two step 4s. Like Gordon, I can’t count.
But I’m drunk. What’s his excuse?
There’s Methadone in his madness.’ (see much earlier).
Plunge ?
I do believe Camerons satisfaction rating has plunged further in the last few months as a percentage.
Damn those facts!
And Browns has risen has it?
Damn those facts!
Guido’s said here before that he has a short position on gilts – maybe he’s trying to talk up his own bet??
What’s known in the trade as a quick ‘Morgan’
as in Piers
FOAD twat
RR is beneath contempt. His lonely blog is full of creepy brown nosings of the likes of Mandleson etc.
He also posts his sub Daily Mirror penis drips on Labour home. He even gets ridiculed over there. A bargain basement lickspittle.
hey Guido, any chance of a labeled x-axis (over what time period did this occur?)
I’d be interested in what it looks like in a few hours time too.
Thats wierd. Surely everyone knew that QE was very likely to come to an end, so the prices would go down.
I look at the £/€ graph occaisionally, and that’s very wiggly today (technical term), but on the whole nothing they didnt anticipate.
always people willing to make a quick buck. Brown said he’d abolished short term-ism, but he can’t and he hasn’t
Interestingly gold has dropped as well today…
THE UK IS OUT OF RECESSION
THE UK IS OUT OF RECESSION
BRITISH GAS ARE CUTTING THEIR PRICES
BRITISH GAS ARE CUTTING THEIR PRICES
LABOUR WILL WIN THE NEXT GENERAL ELECTION AND THAT IS A CAST IRON GUARANTEE
I hope your cast iron guarantee is better than Cam the Shams.
Rag twat. Get back to your lonely blog. You are the Farm Foods of New Labour twats, creeping up the hierarchy’s arse.
Yep. British Gas are cutting prices at 1/3 of the benefit they have received on the reduction of their costs – and after all the Nov-Dec-Jan quarterly bills have been levied. They are not doing anyone any favours.
Nothing to do with me.
Give me a job .
You are going to be tied to the railings of no 10 when the rioters arrive Damien…
To get a taste of your own filthy medicine….
Trousers down if you please. Whare’s Mandy?
No scale on the x-axis. Two out of ten.
I detest this blog!
People who write on here contradict what we say, …. and can string more than two words together. Where is Mr Pestillon?
Oh for the day when the sheeple are properly dumbed down by the Leader’s Education Reforms!
Not something else Mr Brown cocked up? Oh, God. It’s going to be one of those days…
Yes old son..
Just more buggery, thuggery and skulduggery from ZaNu Labour…it all they are able to do…
Usual fare…
Vote Labour. Vote Buggery.
you want to find a dummy look for any tit who uses the word sheep**
Pound jumped half a cent against the dollar at midday too – surely any unease would have sent it down rather than up, or was the hold of QE already priced into the rates?
Aussie dollar is now dropping at a rate of 1% per week against sterling, I’ve always suspected that Oz is where the bankers are stashing the cash
I thought it was stashed in Magrathea.
We’re off to see the wizard!
The wonderful Wizard of Oz!
Just another slaphead manipulating shit from behind a curtain.
It pulled back from a daily oversold position to a level lower than yesterdays close. This fucker is going south big time.
1.55 TOMORROW AFTERNOON then 1.35 by March. You heard it here first, a couple months ago. Then it will be down to par with the dollar.
Buy US dollars wear diamonds.
I believe the Bank of England building should be sold off to become a boutique Hotel
just as well I get paid in US dollars then!!
My US SSA pension is looking pretty good these days. Not as good as a year ago, though, when exchange rate was 1.38. Still, 1.58 is pretty good. Thank fu*k I’m not in the States with a UK pension.
A boutique hotel for Nulabour homosexual gang bangs while Rome burns ?
Ahh, Berlin, 1945… plus la change. I’m sure Ed Balls could help with the outfits.
…’coz the end of QE means that interest rate rises are closer…
Is it perhaps because Obama’s in a bigger bloody mess than McBust ?
There is some truth in that. Obama wasted his first year in office receiving Nobel prizes, instead of rolling up his shirt sleeves to tackle the terrible US deficits. Until bloated, consumer economies like the US and UK start to rebalance their economies to live within their budgets, private and public, global imbalances and instabilities will continue.
Of course, as a massive entrepreneurial economy, the US is much better placed than the UK, but even so it cannot have a sustainable future based on public and private debt. As for the UK – we are totally so in a mess!
now Brown has had his money gun taken off him, he is going to have to get other weapons dusted off from his arsenal
I am not sure what he has left
His arse?
QE is only suspended, the corpse is not yet interred and could be resurrected at any point. My point? Brown could go for a March election, before the proverbial hits the fan on trying to sell 20 billion of Government Debt every month. Alternatively, if Brown delays until May or June, the BoE could suddenly and magically restart QE to keep Brown’s debt mountain bankrolled until after the election.
Only problem for Brown would be if he won the election – at some time all that shit will hit the fan, whether he likes it or not. Unfortunately for Cameron, if he becomes PM after the election, his Government will have to deal with the terrible legacy left by McDoom!
There is no winner, the parliament will be hung but not drawn and quartered unfortunately. [Although power sharing in the light of all that has gone on could only be a good thing..right? All will have to fix Broon's Mcmess.
Why can't someone from Burnley [if there are so many Jihadists] pop down to London and slot the Scottish f*ckwit?
On the other hand, I do have it in mind and I’d like you to join me in making the biggest sign you can, stand outside a polling station and hold it there proudly, without jest.
“VOTE LABOUR”
O/T
Guido, it looks like Ms Dorries is looking for a hand from a friendly blogger. Take a look at her blog for details…
“I am making this case known on behalf of someone else as my concern is that as long as it takes to reach a legal solution, others may be suffering the loss of their life savings at the hands of a company I believe to possibly be corrupt through to its very core”.
Talking of corrupt to the core,Nadine,we know of another place like that……..
Wow – look at this – I have a pound coin on my desk and a minute ago it was worth a pound (adjusted figure, ignoring last couple of year’s CRASH), but nw it’s changed and is worth 99P! Amazing!
98p!
This is fantasic – I wonder if I could enter it in the Turner?
97p!
I could go on…
Not for long Frank, not for long
What this country needs is Kaberet!
Oh, and wheelbarrows.
i will give you 92.5p for it
Can I borrow it off you for a week or so,
I’ll give it all back!
You lend me a quid, I give you a quid back next week, honest.
Gimme all loose change – its worth more to me as scrap metal.
In case you hadn’t noticed, our bronze coinage is highly magnetic, even the penny in your pocket is worthless.
is the lunch still on tomorrow
Glenn Beck yesterday was very interesting telling the story of when America bankrupted the UK after WW1 to become number one. His analogy of China replacing the US as world number one is spot on.
Bank of England to become Chinese Take-away. Because it is the right thing to do. No more Gilts we will service our debt by selling Lanterns. But do not fret, they will send us copious amounts of Heroin for our people to reduce the pain.
Looks like a flaccid hockey stick graph
Looks like crunch time for McSnots economic policies then.
Saved the world, and abolished boom and bust ?
Lets see what the world thinks of our economy now……..
“It does not mean that the pound here in Britain, in your pocket or purse or in your bank, has been devalued.”
Harold Wilson LABOUR Prime Minister 19 November 1967
Well it’s open in New York and we’re still ‘only’ down 0.3c on the dollar and level on the Euro.
Looks like it was priced in already. I must admit I thought he’d simply continue printing cash. Perhaps I need to read the small print of the BoE’s announcement. He has no choice but to print cash or increase interest rates with a deficit like that to fund.
Couple of things here : My first best guess is that the markets are still holding out the hope that McDoom’s not going to be around post-election. That and the fervent hope that the election’s going to come sooner rather than later (given that Q1 figures aren’t going to look too clever)
They’re also not going to go for a defacto devaluation of their Sterling-valued assets by sinking the pound short-term until they’ve covered the risks elsewhere.
Most of the markets are already pricing in that there will be a change of government on May 7th
Anything that changes that narrative (no matter how the press want to see a hung Parliament) will cause chaos – watch for the pound crashing through parity with the Euro and being close to parity with the US$ if Labour are re-elected!
Parity with euro I can go with – your projections on dollar are on high side. Am more inclined to think $1.30 but time will tell.
Rumour has it that the mint had run out of paper and ink, it could not afford to buy anymore
The Spain/Portugal /Greece debt bomb is keeping the Euro down. Obama’s feeble stimulus response is keeping the dollar down.
Its happy time for McBroon.
After throwing me out last week, my wife has agreed to let me move back in, as long as I promise to re-do my English GCSE, as I kept getting things I was saying muddled up.
I’m glad she’s given me a second bite of the whip.
Errrrmmmmmm fuck off Gordon
No wonder they have extended the car scrappage scheme.
http://www.independent.co.uk/news/business/news/high-street-feels-the-chill-after-worst-january-since-2005-1888894.html
Growth anyone?
Presumably the banks are doing well out of this sub prime car financing
Er, no, apart from what they can eke out from top-up finance packages.
The real benefit is going to all the overseas-domiciled car manufacturers – more of our cash haemorrhaging offshore. Bit of fringe benefit to the assemblers in the UK and that’s it.
But if you have a car that is worth less than £1k, how do you find £10k for a new shiny motor other than finance
Dealer network has been saved from shedding jobs I guess, but as you say major benefactors are the manufacturers and the lack of growth figures
January 2010 UK new car registrations:
Hyundai +285%
Kia +195%
Renault +90%
Skoda +85%
Volkwagen +70%
Fiat +70%
Jaguar -10%
Champagne corks popping in Korea, Germany, France, Italy… You’re fucked, you dumb chumps.
Why the fuck are people still buying Renaults? I mean for fucks sake, they’re shit!
The only thing more likely to go wrong than a Renault is a BL Allegro!
And at least buy a car with a warrnaty as long as the finance deal. Jeez. Thank fuck some people can understand that buying a Kia isn’t such a bad idea!
Interesting article – quoted Lord Pecker of Harris – owner of Carpetwrong.
This is the outfit we ordered your normal light beige carpet from…and got a red one.
They then tried to get us to keep the pile of crap in red that they had delivered.
It’s a wonder they are selling any carpets these day’s – does anyone know someone who has actually moved house?
Gordon’ about to move house.
Look
For Christ’s sake, I was the 101st of Tony’s cronies appointed to the House of Lords…
I only paid £ 50 grand for the title
I got that back in 6 months in expenses..
You do not understand what kind of world we are in…
So please stop being rude about me
They get back more in VAT than the scheme costs, it was making money even when VAT was 15%.
FFS. Pravda still trying to spin that QE is a good, good thing even while explaining that the gummint’s buying it’s own debt via printed money.
Not one feckin’ mention of inflation or the drop in gilts.
Were doomed doooomed i tell ye !
at the end of Q1 brown will now claim the credit for a O.O005% rise in growth !
and as anybody knows a 5 is greater than a 1
the markets have barely moved kiddies
Yep. Looks like it’s already ‘priced in’.
Now, for our next trick – maintaining the ‘recovery’ without printing and squandering 200bn quid a year.
Oh yeah – and paying off that additionla 500bn quid in debt.
Good luck with that.
well unless you are an MP and get everything paid by the Taxpayer
it would be all of us who need Good Luck with that
we know there’s going to be no masive cuts in public spending this year
so it’ll be our raised Taxes paying that debt very shortly
And the additional £500bn?
And the additional PFI-swollen £2Tn shurely.
Guido has drawn a sports car on his etch-a- sketch
Martin O’Neill, Arsene Wenger, Alex Ferguson and Rafa Benitez are in a pub. O’Neill gets up and gets a round in. Shortly after Wenger makes his way to the bar and gets them all another drink. The pattern continues as Benitez and even Ferguson buy a round of drinks. Once everybody has finished Ferguson’s drinks O’Neill heads to the bar for a second time but only buys one drink which he begins drinking. The other managers, confused, ask O’Neill what’s going on? To which the Irishman replies: “This is the 5th round lads and none of you are fucking in it.”
Won’t the government just change bank monetary requirements to hold a certain percentage of gilts ? Make it a few billion per bank and that’s a few months worth of gilts purchased. Just in time for an election.
There is NO way we’re having a gilt crisis before the election. NO WAY.
Why not? How many of the electorate have even a basic grasp of economics?
More circuses and bread all round!
Give them housing, beer and Sky TV and they will vote.
Moved from 116 to 155.5? Does that count as “plunged”?
What happened to RBS shares a little while back was some serious plunging. This doesn’t really seem to be in the same league, does it?
115.5 not 155.5. It is a lot for a security whose value is based on supposedly certain cash-flows.
Why has the market reacted to something it knew was going to happen? Shouldn’t the end of QE have been priced in already?
Sorry, you’re quite right, I did mean 115.5.
But there’s still not a whole lot of difference between 116 and 115.5.
You would need to be VERY geared to notice this plunge! It’s less than a day’s trading.
Exactly. Let’s change the scale, shall we? Gilts are 2 big points higher than 19th Jan. The latest auction was well subscribed. We have plenty to worry about in the UK, but not this.
portugal/greece/hungary…………
bonds all getting hammered…….
reason? budget deficit…………..
we know a country like that don’t we?
(u.s. downgrading mooted……..reason? debt!!!!!!!!)
the western world is heading 4 disaster………
that’s what you get when people in charge haven’t got a clue!
Buckle up the seat belts: FTSE looks as if it could be doing some freefall …
And both the main chute, and the emergency chute are severely damaged.
Guido
Just getting back from lunch, and slightly OT, but I’m surprised to find you haven’t got Fraser Nelson’s Times piece today in “Seen Elsewhere”. Somewhat more incisive than Brogan’s piece in the Bellylaugh – although, of course, neither are quite to our taste here at the Beeb.
Non farm pay roll tomorrow..
[...] end of QE happened today. Much righthandwringinging over this. But this is hardly a gilt ‘plunge’, Guido, and you know it. What a [...]
Dude, gilts are like totally awesome
but surely the real danger is inflation after the latest record 1% jump
Perhaps QE was kept on too long.
Data spike down to a support level. I bought at the bottom and am now showing a nice profit. Gilts now rallying with treasuries as risk assets sell off globally.