debt_crisis-nation-finance-borrowing-public_sector-interest-bonds-economy

Millions Not Saving
by Ian R Thorpe.
Four out of ten people in the age range from 45 to 54 have found themselves unable to save any money in a retirement fund because of the twin financial burdens of aged and infirm parents and young adult 'boomerang' children.

Young Hope For Housing Crash
The burden of student debts imposed on young people by a misguided education policy that has left the nation with a surfeit of media studies graduates and a shortage of practical skills is also having dire social consequences in other ways.

Financial Madness
Was the credit crunch as the media called it really caused by the geed and incometence of the banks and the inabiliy of us ordinary punters to manage our affairs. Or was it all due to the financial madness of politicians who engineered a a system that depended on infinite growh in a world of finite resources.

Shock, Horror! Coalition Spending Cuts Cuts Will Mean 50,000. NHS Job Losses
Predictably the left are screaming about the claimed 50,000 jobs that will have have to be axed by NHS trusts across the nation to meed government budget reduction targets. What NHS managers are doing however is following in the footsteps of Labour controlled councils and rather than losing the candy - floss jobs created by empire building bureaucrats are slashing front line services to punish users of the service for ...
Interest Rates Must Start To Rise Very Soon
The Daily Stirrer has warned you to brace yourselves for rises in interest rates. As it is the Bank of England has kept rates at an insanely low level for far too long in the face of evidence that their policy had completely failed to achieve its stated aim and boost the economy.

Now with the economy stagnant, the jobless figures flatlining but likely to increase as public sector jobs are shed and inflation

Sarko Calls For Action Against Inflation
As leaders meet for another ~~pointless, obscenely expensive jolly~~ high level meeting of world political leaders and heads of government finance, French President Little Nico Sarkozy warned delegates inflation poses a "great threat" to global growth, risking dangerous unrest if food prices soar out of people's reach, Nicolas Sarkozy, the French president, warned the Getting Naked In The Financial Markets
If you've heard of hedge funds and toxic debt you might well think these are the most evil manifestations of the financial markets that plunged our economy into the abyss. Unfortunately there are far more fearsome demons, arbitrage, short selling and naked short selling. Anyine wanting to know how insane pertsonal gred has made the people who are supposed to prudently invest our savings and pension fund money in currency, bond, commodities, stocks or any other financial market this is a must read.

George Osborne's Levy On Bank Profits Slammed by Ed Balls
Coalition Chancellor George Osborne was accused of "moving the tax goalposts" by banks and of introducing a "damp squib" by Labour after increasing a levy on bank profits to raise £2.5bn this year...

The Debt Threat To Our Way Of Life
Japan's Triple A credit rating has just been downgraded, that of the USA is looking a long way short of secure.What is going on in the world of finance when economic powerhouses like these are in trouble? Is the continuing financial criis and the threatened meltdown in the bond market just a knock on effect from 2008's problems or is something bigger going on?

Coalition Government Urged To Make PFI Profiteers To Repay Funds
Francis Maude, the Cabinet Office minister, claimed that many PFI deals were "ghastly" and imposed an unfair "penalty" on schools, hospitals and other public services. It is understood that Cabinet Office and Treasury officials are examining PFI contracts worth billions of pounds, looking for ways to claw back money for taxpayers. Signalling an end to the era of PFI, Mr Maude said the Coalition's plans for a ...

Inflation Tax
Inflation is the cruellest tax, it hits the cautious, prudent and hard working, rewards the feckless, reckless and downright foolish. We have a bout of inflation under way, engineered by governments to reduce their unsdustainable levels of debt incurred in the business of buying otes to stay in power. What will be its effect on ordinary people?

Gambling In The Euro Casino At Vegas on the Med
The Daily Stirer has warned of the collapse of the Eurozone and the death of the single currency before. It was not a hard call to make, tying traditionally weak economies to a strong one like Germany's and thus blocking off the traditional route to eliminating debt in the weak nations, devaluation and inflation, was bound to wreak havoc with the economic basket cases of Southern Europe. The single currency has only survived so long because Germany has been willing to prop it up.

Financial Alchemy
For three decades it was alchemy. Banks and corporations pullede off the equivalent of turning lead to gold by turning liabilities to assets and then using those very dodgy assets to secure loans. It could not last of course, sooner or later someone was bound to work out how the illusion of turning debt to wealth was performed. Find out how here...

UK Economy Slipping Back Into Recession? Gross domestic product fell 0.5pc in the fourth quarter, the most in more than a year, the Office for National Statistics reported on Tuesday. The decline compared with growth of 0.7pc in the third quarter.George Osborne insisted that the Government will press ahead with planned cuts to public spending, despite warnings from forecasters that the economy may be too weak to withstand the package. Blaming the growth figures on the cold weather, Mr Osborne maintained that a weakening in efforts to tackle ...

By 2015 Credit Cards Will Cost Families £1800 a year. Last week The Daily Stirrer warned that rising inflation meant interest rates would have to rise sharply very soon. Today as we learned that by the so called factory gate price measure infkation has gove over 4% the economic pundis of mainstream media are as usual playing catch up.

America's Debt Crisis Traps Less Well Off In Depression Conditions
News this weekend has been dominated by the assassination attempt on a Democratic Congresswoman and her companions in Tuscon, Arizona. As the story is everywhere there is little point The Daily Stirrer commenting other than to offer our condolences to those injured and the families of people who died in the attack. What this incident has done however is to focus the attention of the outside world on some very worrying social trends in the world's most powerful nation, namely the polarisation on political, racial and regional lines and the seething anger at most levels of ...

Death Of The Eurozone.
When the first treaty aimed at establishing the European Union was drafted by the bureaucrat Jean Monnet it stated clearly the aim should be to create a single European state with a single currency (the Euro) and eventually a single government. That part of the reaty was rejected by all European states and an economic community based on free trade and fee movenent of goods and labour formed. But the Eurocrats of Brussels did not give up their dream ...

Rogernomics.
It was the belief of economists (practicioners of the dismal science) in their own infallibility and the power of their mathematical models to override nature that got the world into its currect economic mess. Rogernomics is the science of blaming the previous government when the predictions of the mathematical models go horribly wrong.

Batteries Not Included
"Batteries not inclded" The dreaded words on the boxes of toys bought for Christmas presents. At first sight of those words Dad knew that stuffed with turkey, roasties and duff he was in for a trek round the destered streets on Chistmas day to find an open all hours. Now as governments and sciencyheads and green, three hugging weirdie - beardies whose love of science and the environment is more to do with religious zeal than reason and logic we are starting to the that the words "batteries not included will be even mkore terrifying when see in the small priint of the contract we have just signed for a new electric car.

Obama Deficit Reduction by John De Roe.
We hear that America's AAA credit rating is likely to be downgraded because the Obama administration has embarked on a course of increasing its public sector deficit and national debt rather than taking steps to reduce its debt burden. Bit at least some member of the Obama administration seem to have got the message that debt reduction is more important than Obie's beloved vanity projects.

Eurozone Unravels In Debt Crisis The rebellion against the 1930s fiscal and monetary policies of the Euro-complex is gathering pace.
Il Sole has published a letter by 100 Italian economists warning that the austerity strategy imposed by Brussels/Frankfurt risks tipping Europe into a self-feeding downward spiral. Far from holding the eurozone together, it will cause weaker countries to be catapulted out of EMU

Papering Over The G20 Cracks Will Not Avert A Currency War.
The G20 leaders can pass all the resolutions they like and issue joint statements ''til the cows come home, the fact is we have a currency war and until the United States, owner of the world's reserve currency, the US Dollar stops trying to reduce its debt by devaluing the currency the world trades in and starts to work on getting its deficit under ...

Obama Takes A Swipe At China
US president Barack Obama took a swipe at China's currency policy after G20 leaders failed to resolve tensions running high over global trade imbalances.

The summit in South Korea ended as it began, the row over gaps and surpluses which sees China accused of keeping the yuan artificially low to boost its exports at the expense of American and European jobs dominated discussions .

One of China’s leading credit rating agencies has downgraded United States of America government debt in response to what it sees as deliberate devaluation of the dollar by quantitative easing and other means. If China, now the second biggest economy in the world, stops buying US government bonds this could have a very negative effect on…

Benefits Review One of the proposals put forward by the coalition for reducing the public sector deficit is reform of the benefit system. Predicatably tis sent the hand-wringers, bleeding hearts and human rights screamers of the 'progressive left' into paroxysms of hysteria. People would be starving the the streets, they wailed, malnourished children would queue for a handful of rice. They wished. Actually the coalitions proposals look quite reasonable.

Businessmen Brick Up His Bank's Doorway In ProtestThe stupidly expensive bail out of banks by Gordon Brown's government was supposed to enable the bankers to kick start the economy by giving them the liquidity and freedom from their toxic debt trading misadventures neded to enable lending to small businesses to re-commence. The economy remains stagnant however because the bankers simply trousered all the bail out cash or used it to

Amazon Takes On Sainsburys We are not against progress at this publication nor are we against technology. There has to come a point however where, when presented with some new development and told it will make life better in many ways for us all, we take the advice of Marcus Tullius Cicero and ask "Cui Bono?" Who benefits? One such case is exemplified by the expansion of Amazon into the groceries business.

The Arrogance Of Ecomonists And The Stupidity Of Politicians
Don't you just love the arrogance of economists and their detatchment from anything remotely resembling reality. They're all scum sucking crackfarts, they really are. Little Nicky Machiavelli has said this many times and here's a mainstream journalist taking up the theme in response to an economics academic who says that anyone who does not have a PhD in economics should not be allowed to express an opinion on the subject as only...

Defending Keynes
The name of a great Englishman, John Maynard Keyes, is being trashed by that jug eared steak of piss and racist hater of all things British Barack Obama in attempts to give the failing Obama administration's loonytoons economics a veneer of sanity. Keynes recommended governments should use publc spending to sustain their economy during periods of recession. He did not say, as Obama's supporters claim he did, that nations already way past the point of bankruptcy should continue with reckless poublic spending projects.
United In Austerity
Vince Cable on the budget and why the cuts and tax rises were necessary. A quiet but devastating denunciation of Labour's lie that they left the economy in good shape.

The Necessity Of Curbing State SpendingThe left, already laughable styling themselves "the opposition" even as Labour splits into tiny factions including the "old left" the traditional party of the working class, the people with traditional Labour values who recognise there are no magical solution, the "progressive left", the kind of people my colleague Ian Thorpe refers to as The Politically Correct Thought Police, who are currently working themselves into a frenzy about

When The Cutting Begins
As the coalition settles into its new job and the words of former chief treasury secretary Liam Byrne, 'There is no money left' reverbrate how will the new team set about reducing the deficit and mountian of debt, creating jobs and sorting out the financial mess left by Labour?

Rebellion Of The DHWFs
by Wat Tyler (Burning Our Money) - recommended by John De Roe

Wat Tyler at Burning Our Money blog has been giving it rice with his calculator and worked out how much it is going to cost the ConDem-ned coalition to clear up Labour's economic mess. And he reckons the burden will be too much to bear for the DHWFs (Decent Hard Working Families) who pay the bulk of direct and indirect taxes. Wat predicts a middle class tax rebellion. But then Wat has a track record for that kind of...read Wat Tyler

The Fiscal Nightmare
Political conservatives and libertarians in the USA are aware of the problem but here in the UK with less than three weeks to go until the General Election that will decide who governs the country for the next four or five years only the Liberal Democrats and representatives of...

No Real Jobs In The New Economy
Gordon Brown's Labour government and the failing Obama administration in the USA, feeling power slipping through their fingers, are trying to lull people into a false sense of security with claims the 'green' and the 'digital' economies will restore prosperity. This as a blatant lie, nobody needs a PhD in economics or Social Science to understand that the "new economy" of green businesses and digital commerce will destroy not create real jobs...

The Real Unemployment Figure
New unemployment figures released yesterday show unemployment fell by 0.1% in the three months December to FebruarY. Contained in the figures was a statistic that undermines government talk of an economic upturn. This is the number of people in work. Headline unemployment has fallen the number of people in work has also fallen. What's going on?

Bond Villain Targets Britain's Future by John De Roe.
Bill Gross, the world's biggest bond investor might have voted for Obama hnd has some sympathy for Labour because they talk of creating jobs, but he thinks the British economy is in worse shape than anyone is going to admit and is quite willing to take advantage of our vulnerability." The Jobless Economy
by John De Roe
13 January 2010

Politicians, economists and others with an interest in talking up the economy to get us all spending and taking on debt and mortgage loans again may rave about recovery. With our industrial base so depleted where will the jobs come from that we need to lead a recovery?" They may call it fiscal prudence, we call it loonytoons economics...

Interesting Times - Which Way Will The Global Economic Crisis Go In 2010?
Which way will the economic crisis go in 2010? Cracks are apearing in the Europen Single Currency scheme and China which has massive holdings of US treasury bonds is making unhappy noises about the dececits being run up by the Obama administration as they pursue loonytoons economic policies...

Copenhagen Climate Change Lies
Ian R Thorpe
18 Dec 2009

The Copenhagen summit conference on climate change was never about climate change. It was about money, power, control and the need to divert attention from the failure of globalization. Pity the science used to back up the case for action was so easily exposed as fraudulent.

Chancellor Darling's PBR Cancels Christmas And The Future
by Ian R. Thorpe : 16 October 2009

Both the USA and Britain are in a debt crisis that dwarfs the catastrophe of climate change. Other developed nations are crippled by debt and their Public Sector Borrowing Requirement but not completely hamstrung yet. Read how government borrowing by means of selling bonds to finance out of control public spendingis dragging us into the abyss.

The Dollar Is Sinking - Man The Lifeboats
by Ed Butt: 25 October 2009
As The Daily Stirrer predicted recently the position of the $US is under attack. Last week a sustained slide in the value of the currency was halted by the smaller Pacific Tiger economies, Singapore, Malaysia, Hong Kong buying up Dollars that were flooding the markets. So whay is going on and how will it end?

The Economy Of The Living Dead
by Ian R. Thorpe:
Though governments talk about recovery we are stuck in the economy of the livind dead, the global financial system as become a zombie. Is there any way out?

Have We Forgotten How To Be?

People in the developed nations have never been materially so well off, so healthy or so secure. And yet it is likely that in a time of peace at home people have never been so unhappy. Where did it all go wrong? The pages in this menu are aimed at helping people remember how to just be, how to step outside the conflict and constant endeavour and enjoy the pleasure of being alive.

Feeling Let Down By Hope

Barack Obama won a Nobel Peace Prize for promising the wold hope even though he shows no sign of delivering. Let down by hope? Why not embrace nihilistic despair? Or alternatively take responsibility for your own life and spit in the face of adversity. Live like a wimp or die like a warrior, the choice is yours.

Magic Money, The Free Market Illusion

Not so long ago politicians and bankers were full of confidence bordering on hubris and they were telling us the good times could go on for ever. So where did it all go wrong. The finance industry blame politicians, politicians blame the finance industry and they all blame us as they try to dream up schemes that will enable the world to carry on prining worthless money and lending it to each other...

The Luddites Club

The word Luddite has many negative connotations but the first Luddites were only trying to preserve theor livelehood and the wellbeing of their families against innovation they claimed, rightly as it turned out, would impoverish them, deskill their trade and destroy the communities thay lived in. Perhaps we need some Luddites to make a stand against the tsunami of unneccessary change that has left some politicians describing they ways we live as "a broken society."

The Apprentice Prime Minister
News that Prime Minister Gordon Brown has appointed Sir Alan Sugar, anchorman of reality television show The Apprentice to his cabinet team as Labour's small business tsar makes us wondr just what king of showbiz government is Brown running Or is the decision perhaps based on the knowledge that Labour will be seking to appoint a new leader very soon. As the party's internal elections process failed so disastrously last time perhaps Surgar will lead a new selection method.

QE Quantitative Easing,
...it's the new financial crisis television panel gamehisted by Stephen Fry. A bit like QI but funnier.

Bilderberg Bastards
One of the most important meeings in the world, The Bilderberg Group, took place over 6 days up to the 18 May. This group comprised of the world's leading politiciand businessmen and financiers meets annually but little is known and even less reported of what goes on. Why is that do you think? And why is the meeting's venue surrounded by a level of security that makes the inauguration of a United States President look like a church coffee morning? The lack of openness, the paranoid suppression of news reporting and the heavy handed treatment of the fewjournalist who have got past the security suggest if we knew more about bilderberg we would not like it. We must find out more.

The Tyranny Of Bricks And Mortar
The word freedom is bandied about recklessly. Have human beings ever truly been free? Even now self hating white middle class guilt trippers blether about the evils of slavery as though the slave trade was an invention of Europeans in the 17th century when in fact it had been around since the beginnings of civilisation. But despite all the posturing and finger pointing are millions of peoplenot living as slaves to their mortgages, unable to get out of bad situations because it may mean losing their home and evrything?

How Saddam May Yet Win The War
Based on an article written in 2005 this reflection of the economic and political effect of the Iraq war on the American and European economies poses some distrurbing questions and a warning against complacency to those who believe the west will quickly pull out of 2008's economic meltdown simply by restarting the cycle of borrowing and consuming that created the economic crisis. From the moment the invading troops poured into Iraq the world could never be the same.

Darling's PBR Disaster
The Chancellor's Pre Budget Report is being haled by Labour supporters in the media as a triumph of economic thinking that will save the nation. But all Alistair Darling has achieved is to mask how a bad a state our economy is truly in. Has the Labour party succumbed to Obama syndrome, a delusional beflief that the world runs on monpoly money and natioal leaders can just print as much as they need.

Need A Crisis
Need a crisis to divert attention from the real catastrophe that has been created by the incompetence of politicians, the academics and "experts" who advise them and the businessmen who between them manage the affairs of nations? Just invent a global warming crisis. We are not saying global warming is not happening only that it is too late to reverse it and spending £$£$ zillions trying to is futile.

Systemic Dishonesty
Whichever way you look at it the politicians of all sides have been lying to us for years

Privatise Profit - Nationalise Losses
Governments and politicians of all shades like to talk of gbeing fair, equal opportunities for all, an aspirational society with upward social mobility. How does that equate though to the fact that for many years taxpayers will be paying interest on money borrowed from China and India in order to bail out our failed banks and financial insitutions. Being unfair to the rest of us so they can be fair to the bankers who got right by stealing from ordinary people does not equate to equal opportunity in our view

FRAGMENTS:
(Shorter Posts From Our Blogs) PIIGS Might Crash And Burn
The Next Financial Crisis
Printing Money - Finance Nightmare
Darling PBR Makes Taxpayers Bail Out Labour
The pre budget report (PBR) delivered by Chancellor of the Exchequer Alistar Darling yesterday was the nearest any Labour politician has yet come or is likely to come to admitting how comprehensively the party has screwed the economy during their twelve years in power. Even so, Darling could not break with the kind of deluional thinking on the economy that typifies

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Iran: Britain could send military reinforcements to Gulf Britain could send military reinforcements back to the Persian Gulf region if the dispute with betwen Obamaland and Iran's theocratioc regime escalates, according to Philip Hammond, the Defence Secretary. He said the decision to send ...