Just found an excellent posting over at Wikileaks.
Not that anyone actually reads this blog, but it might help the post get spidered and botted more quickly if I mention it here.
http://wikileaks.org/wiki/UK_phone_hacking_scandal:_The_News_of_the_World_didn%27t_go_far_enough
Sunday, 12 July 2009
Thursday, 27 November 2008
We're All Frickkin Doomed!
Now, anyone that knows me in real life might think I'm a bit of a worrier, tending to the gloomy side now and again, but believe me on this one folks we're all deeply in the doo-doo here on Airstrip One.
From seekingalpha.com
The government also announced fantasy growth forecasts that stated that UK GDP growth would return to trend growth of 2.5% per annum by 2011. This leaves more probable forecast growth rates of 0.6% for 2010 far behind and opens up a potential black hole in Britain's finances that implies that actual official government borrowing will be some 50% higher than today's electioneering budget's forecasts.
Don't worry, it gets worse.
The actual amount of additional government borrowing is expected to be 50% higher than the forecast of £500billion by 2013, at some £750 billion. On top of this, the government has bailed out the banking sector to the tune of £500 billion and incurred nationalisation debt of an additional £120 billion, all of which contributes towards the true extend of government borrowing, despite off the balance sheet accounting practices the government utilises to hide these facts. The total UK Real debt is expected to rise from £534 billion in 2007 to £2,140 billion by the end of 2013...
Some good news for some, some news that might be considered "sub-prime" for others:
More Bargains Coming for Shoppers
The outbreak of panic sales of 20% plus off marks just the first stage of the consumer bust of 2009. Shoppers can expect more discounting the closer we get to Christmas, followed by deeper cuts during the January sales and later in 2009 by the 70% to 80% price cuts in the CLOSING DOWN SALES as many retailers go bust
And in the long term?
However the risk is that foreign investors take fright at the soaring amount of government debt being sold, i.e. government bonds, and stop buying gilts, which would send interest rates soaring and the currency plunging, igniting hyper inflation. This would put Britain more or less on a similar path to Iceland, where the country has come to a standstill in economic terms as no one wants to do business in the Icelandic Krona. As a result, the country is unable to import goods necessary for its survival triggering a downward hyperinflationary economic spiral in which Icelanders are witnessing their life savings all but wiped out.
Ah yes, Iceland, that happy little Scandanavian Island.
Of course, you might be thinking that whatever is happening here in Blighty, it's not as bad as over in the 'States right? I mean, they're all up to their ears in personal debt as well, we would never be so silly as to get into that sort of trouble? Well, yes, according to those awful worriers at the IMF, we are just as bad as our colonial cousins, in fact we're worse. Have a look at this to see precisely how bad our position is when you compare the size of our population to our external national debt. For anyone too scared to look, and that ought to be pretty well everyone the sums come out at that each and every soul shivering on this impoverished rock owes the rest of the world $125,852 or at the current feeble exchange rate of 1.54, £81,722. Yup, even before you get out of bed each day, you're already nearly eighty-two thousand pounds in debt.
Hoorah!
Still, chin up, it couldn't get any worse eh?
Right, I'm off out to stock up on shotguns and canned food. Have fun.
From seekingalpha.com
The government also announced fantasy growth forecasts that stated that UK GDP growth would return to trend growth of 2.5% per annum by 2011. This leaves more probable forecast growth rates of 0.6% for 2010 far behind and opens up a potential black hole in Britain's finances that implies that actual official government borrowing will be some 50% higher than today's electioneering budget's forecasts.
Don't worry, it gets worse.
The actual amount of additional government borrowing is expected to be 50% higher than the forecast of £500billion by 2013, at some £750 billion. On top of this, the government has bailed out the banking sector to the tune of £500 billion and incurred nationalisation debt of an additional £120 billion, all of which contributes towards the true extend of government borrowing, despite off the balance sheet accounting practices the government utilises to hide these facts. The total UK Real debt is expected to rise from £534 billion in 2007 to £2,140 billion by the end of 2013...
Some good news for some, some news that might be considered "sub-prime" for others:
More Bargains Coming for Shoppers
The outbreak of panic sales of 20% plus off marks just the first stage of the consumer bust of 2009. Shoppers can expect more discounting the closer we get to Christmas, followed by deeper cuts during the January sales and later in 2009 by the 70% to 80% price cuts in the CLOSING DOWN SALES as many retailers go bust
And in the long term?
However the risk is that foreign investors take fright at the soaring amount of government debt being sold, i.e. government bonds, and stop buying gilts, which would send interest rates soaring and the currency plunging, igniting hyper inflation. This would put Britain more or less on a similar path to Iceland, where the country has come to a standstill in economic terms as no one wants to do business in the Icelandic Krona. As a result, the country is unable to import goods necessary for its survival triggering a downward hyperinflationary economic spiral in which Icelanders are witnessing their life savings all but wiped out.
Ah yes, Iceland, that happy little Scandanavian Island.
Of course, you might be thinking that whatever is happening here in Blighty, it's not as bad as over in the 'States right? I mean, they're all up to their ears in personal debt as well, we would never be so silly as to get into that sort of trouble? Well, yes, according to those awful worriers at the IMF, we are just as bad as our colonial cousins, in fact we're worse. Have a look at this to see precisely how bad our position is when you compare the size of our population to our external national debt. For anyone too scared to look, and that ought to be pretty well everyone the sums come out at that each and every soul shivering on this impoverished rock owes the rest of the world $125,852 or at the current feeble exchange rate of 1.54, £81,722. Yup, even before you get out of bed each day, you're already nearly eighty-two thousand pounds in debt.
Hoorah!
Still, chin up, it couldn't get any worse eh?
Right, I'm off out to stock up on shotguns and canned food. Have fun.
Monday, 20 October 2008
It's 1983, 31st of December, and the clocks have just struck 13.
Not being content with all the other databases that they want to build, all the other forms of intrusion on our lives, it seems that the government now wants to make it illegal for anyone to own an un-registered mobile phone. Gee, thanks guys, you've really got your priorities right. As ever, a much better rant about this particular piece of idiocy can be found over at The Devil's Kitchen. (NSFW language, and all the better for it.) The sooner we get rid of this bunch of totalitarian dick-wads the better as far as I am concerned. Even the Conservatives must be a better short term solution that this collection of awful, utter, utter, utter, c***s.
Saturday, 18 October 2008
Hello World.
This is just a tiny little blog where I intend to post things that have either made me laugh, made me go 'Huh, WTF?', or generally annoy me. Just pop in now and again, and I might have something interesting to show you. Or possibly not. It'll just depend on how I'm feeling. Now, sod off, and don't come back until I've got something to show you. Something like this for example.
From Britains brightest on-line tabloid, The Daily Mash.
From Britains brightest on-line tabloid, The Daily Mash.
WITH unemployment expected to reach three million by the end of next year,
economists were last night warning of Billy Bragg.The dire financial climate means there is now a greater chance of the communist singer-songwriter than at any time since 1987.
Superb.
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