Mervyn King : "We Are F**ked"
Yesterday Mervyn King said the Bank of England's predictions for growth in yesterday's inflation report were "not inconsistent" with two quarters of zero or negative growth - the economist's technical definition of a recession. For a central banker, that is strong language.
Meanwhile on planet Brown the Chancellor, Alistair Darling, claimed yesterday that "the fundamentals of the British economy are strong because of what we have done over the last 10 years. They will remain strong.... because of the robustness of our economy, I am confident that we can return to growth and we can keep inflation down to target."
In reality inflation is now higher than in 1997 when Gordon took over, the ballooning budget deficit is 2.8% - the largest in Western Europe and nearly triple the pan-EU deficit average of 1.1%. Real incomes are now falling...
The Citizens Advice Bureau has just released a report which says "The number of county court actions for mortgage and secured loans has also risen steeply over the last few years. Between 2004 and 2006, the number of mortgage possession claims has increased by nearly 70% and the number of possession orders actually made by 94%. The number of possession actions in 2006 is now similar to that seen at the beginning of the mortgage repossession crisis in 1990." Somebody should dig out that old Labour Party general election poster which blamed house repossessions on Hague and Portillo, changing the pictures to Brown and Darling. So much for an end to boom and bust...
Meanwhile on planet Brown the Chancellor, Alistair Darling, claimed yesterday that "the fundamentals of the British economy are strong because of what we have done over the last 10 years. They will remain strong.... because of the robustness of our economy, I am confident that we can return to growth and we can keep inflation down to target."
In reality inflation is now higher than in 1997 when Gordon took over, the ballooning budget deficit is 2.8% - the largest in Western Europe and nearly triple the pan-EU deficit average of 1.1%. Real incomes are now falling...
The Citizens Advice Bureau has just released a report which says "The number of county court actions for mortgage and secured loans has also risen steeply over the last few years. Between 2004 and 2006, the number of mortgage possession claims has increased by nearly 70% and the number of possession orders actually made by 94%. The number of possession actions in 2006 is now similar to that seen at the beginning of the mortgage repossession crisis in 1990." Somebody should dig out that old Labour Party general election poster which blamed house repossessions on Hague and Portillo, changing the pictures to Brown and Darling. So much for an end to boom and bust...
74 comments:
Mervyn King said: "Families have been warned to expect a decline in their standard of living as rising food and fuel prices place household finances under severe strain.......
......he said rising inflation and the fallout from global economic turmoil would take its toll on the spending power of British households....."
But Brown and Darling tell us that UK inflation is low and the latest CPI figure is only 2.2%.
Somebody is lying.
Labour is beginning to remind me of Tory government cira Black Wednesday.
Darling said "I am confident that we can return to growth and we can keep inflation down to target."
Return to growth? Is that a tacit admission that we are in a recession now or a slip of the tongue?
Alistair Darling is currently acting as Brown's liar-in-chief but their days of lying and fiddling the figures are coming to an end as the awful reality of our debt-fuelled ponzi economy becomes increasingly apparent.
A small number of commentators like Jeff Randall in the Telegraph have been warning of this for some time and now they're being proved right:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/13/ccjeff113.xml
Memories of Sunny Jim Callaghan: 'Crisis - what crisis?'
It is a truth universally acknowledged that Labour governments ALWAYS screw up the economy.
Someone at my bank actually phoned me up this morning (on my mobile) to ask me if I'd like to start an ISA with them.
They know how much I earn, they must be as desperate as Northern Rock if they need what I can afford to save each week.
Well, if someone's telling porkies, it's unlikely to be Swervin' Mervyn - his job is guaranteed for the next 5 yrs, unlike Mssrs. Brown, Darling et al.
stagflation said: "Somebody is lying."
Well now .... I wonder who that might be.
It couldn't possibly be those fine, upstanding guardians of truth and morals, our politicians, could it ? Surely not.
(That was satire, in case no one noticed.)
Maybe he could get a job as a polish plumber.
House Price Crash mentions that home ownership is lower than for ages. And that is before the repossessions get going.
Maybe porkiewatch with Boris (at Speccy) could be a combined effort. Lots of porkies here.
Perhaps DC could just give a long Brown-like list of all these facts at PMQs.
I'm telling you, Guido, this is where the Zanu party ends. The economy. Just keep the pressure up - these fuckers need to pay for the obliteration of the UK economy.
Brown and Darling are in denial but then again so is the rest of the Labour Party.
The economy will finish Brown. The Bank has little room to reduce rates and in any event it's unlikely that Bank's will pass on the full benefit. The exchanges and markets have already passed their verdict on Brown/Darling and mortgage re-possessions are likely to rocket 2nd quarter along with record personal bankruptcies.
"The Rock" is moving inexorably towards nationalisation as Gordon tries to screw as much as he can out of any prospective private bidders. By next week even Branson will have pulled the plug as it's unlikely Virgin will make anything out of "The Rock" before mid 2009 on the terms demanded by the Treasury.
The budget 12 March is going to be interesting - to raise personal taxation or not or will the two Micawbers - Brown and Darling - hope something will turn up.
To say Labour is f***ked is a bit of an understatement even for you Guido
FT Today - "The Bank's bleak immediate outlook will represent a mild form of stagflation if it materialises, putting more pressure on Mr Darling after his recent policy reversals on taxation".
Oh Dear...better start buying gold bars and hoarding canned goods...
What is worse, the incompetence, the lies, the sanctimony, or the greed?
I've just been reading comments by that poisonous sycophant Jowell about the Olympics: "Don't be nasty to Chinese dictators blah blah."
Jowell might be thick, but she is capable of sly cunning. Does anyone doubt that she will wind up with some cushy number working for the Olympics or the Chinese?
She will dump her constituents, whom she prefers not to live among anyway.
Just like that other toe rag Blair, who used those Geordie mugs as a photo backdrop for years ("oooh, look at me in a Working Men's Club with pints of real beer"), but as soon as McBean got his wanker's claws on the keys to No 10, Miranda was out of Sedgefield like a Frenchman in a drinks round.
Twats, the lot of 'em
Gordo cannot keep it up :-0
Average price of unleaded petrol has increased by approx 18% from end Jan 07 to end Jan 08. Energy costs in general have seen similar increases - these are fundamental drivers of inflation. The RPI/CPI figures are politically distorted by NuLabour, but the truth will out as the electorate take notice of the increasing cost of living.
"It is a truth universally acknowledged that Labour governments ALWAYS screw up the economy."
They have done more than just srew it up this time. They have buggered it beyond repair. It will be far worse than anything experienced in the 70s because in those days fewer people were carrying large mortgages and personal debt and we still had a lot of industrial capcity that could be made productive once the Marxist unions were kicked out.
Now we have little industry left and what we have can't compete - we slipped from 4th most competitive country to 24th, so 20 countries are in a position to take our jobs away. Our trade deficit is enormous and persistent. Individuals are carrying enormous amounts of debt, as are corporations which enaged in frantic M&A activity or paid huge sums for 3G mobile phone licenses. We cannot bail ourselves out. We have spent so much credit on the party of the last ten years we have lost our jobs in the international marketplace.
This will be even worse than anything we experienced in 1929. Back then we had an empire and no-one messed with us. We could easily feed and fuel ourselves from within the empire.
Did Labour bring us to this point on purpose to force a revolution on us and end democracy? Or are they just a bunch of fuck-wits?
Speaker: PM (Porkie Meister) the (never) Right (dis) Honourable Gobshite Bean
SnotGobller: Thank you Mick, Peerage in the post. Due to the machinations of an ever more turbulent and failed world economic system that is the fault of the party opposite and nothing to do with my magnificent 10 years as ChancerI have deemed it prudent to enter the Euro forthwith as it has now passed my five tests of making me joint head of the IMF and ECB a move welcomed by all except the party opposite showing just how little they know of the economic requirements necessary to maintain the Gobshite clique in perpetual power even if out of government thereby getting the best deal for GB (me) and stuffing that cunt Bliar who only gets to be President with no powers, Mr Speaker I win and fuck you all, I commend the aggrandisation of me to the House.
Hansard: General uproar
Lordy Lord "Don I gotta Winner" King of the Bank said at the Mansion House 16th June 2007...
"Our central view remains that inflation will fall back this year as the rises in domestic gas and electricity prices last year drop out of the annual comparison, and the recent cuts in prices feed through to household bills."
A triumph of the forecasters art ?
http://tinyurl.com/2k4hoo
My savings account has just responded to the Bank's 25bp cut with a 50bp cut in its interest rate... so it seems they're one institution that's not desperate for money.
But yes, the economy is f*#ked and it couldn't happen to a nicer Prime Minister.
Yeah and whose going to pay dearly for the price of Stalin McBeans f**k up?
Non-Doms?... Not bloody likely!
City Moguls?...... No chance he wants a job when he buggers off!
Well to start it will be pensioners as he has consistently proved and who are currently being hit in all directions. Then it will be low wage earners as he has proved yet again when they lose out on the abolished 10% tax threshold which comes into force in April. And if you are listening to the retoric then the unemployed look as if their in for a bashing. Then it'll be the middle classes etc......
Anonymous said...
Labour is beginning to remind me of Tory government cira Black Wednesday.
If only! The awful truth is that the oncoming crisis is of a scale immeasurably greater than the ERM farce of the early nineties.
Brown has put this country in hock for years to come, and allowed millions of it's more infantile, irresponsible citizens to do the same.
After a period of stagflation we will suffer a deflationary slump for the foreseeable future.
Get ready for: massively rising unemployment, tax rises, public spending cuts, house price crash, massively rising repossessions, bankruptcies, a collapse in the value of the pound, retail depression, belt-tightening on a huge scale......
....and all the social consequences that ensue.
BrianSJ said...
Maybe he could get a job as a polish plumber.
Oi! Mr SJ.
Plumbing is proper work requiring, combination of engineering, dexterity, ingenuity, compassion and Zen. Is not make-believe job, like good for fuck all lawyer or politician or banker or fucking wanker journalist like Toilets Maguire, all of whom are responsible for country being up to belly button in shit.
Can't just fuck country up arse and say Oh, fuck me, never mind, can always go and do plumbing.
On the other hand, for cash and no receipt, plumber can come and sort out bollocks of government. Is big job, maybe last a week and have to employ cousin, Waldemar, but he's cheap enough, not steal nothing nor try and fuck Mrs.
Is not-brainer, innit. Can have skilled, bilingual Polish plumber, with own tools and van in charge of stuff or can have delusional Scotch Nancy freak with voices in head who eats snot on tv in front of whole fucking world and belongs in straightjacket in nice secure room with no sharp edges.
Said before on here, when is torrent of shit and sanitary towel and dirty water flooding down stairs you need a fucking plumber, not a gang of thieving incompetent Scotch mental patients, who blocked up the toilet in the first place.
Next time Nancy is on the telly, twitching and blinking and jerking and gulping his wanker's gulp, just close eyes and visualise that it's not words coming out of his mouth, like Vaaah-lewes or British Jobs but is instead slimy, strings of yellow-brown turds, one after another, after another, sliding down his chin, over his red tie and forming a big stinking, steaming pile in his lap. Premier of Shit-UK is not figure of fun but of revulsion.
Don't put up with this shit any longer.Phone StanislavPlumbCheap4U. Best offer you'll get.
Trust in the currency is holding up, though, unlike the days of Major/Lamont, or even Callaghan/Healey - clearly a vindication of the policy of taking control over interest rates away from the government.
Fook knows how the government measures inflation. They obviously don't buy petrol, gas, leccy, bread, butter, council tax, water, car tax, milk, eggs, TV licence, meat, vegetables etc
Thy must be using stuff like Plasma TVs and DVD players to measure it. In the real world, Inflation is well into double figures.
The last time I abandoned the Mother country was during the disastrous and shaming reigns of Wilson, Callaghan, and the hated cottaging cunt Heath. Then Margaret Thatcher got in, and I came home as there was a good chance that she had the balls to turn things around and restore national pride - and so it proved.
Now I ask what is to be saved? Firstly as many have pointed out it is going to be immeasurably worse this time, and then we didn't have this appalling race/immigration problem to overcome. When the economy tanks what happens to all the Roma, travellers, polygamous benefit thieving Northerners, chavs and "incapacity" benefit claimants which anticitizone drew our attention to yesterday?
(This was such an illuminating read, I reproduce the link here for anyone who missed it)
http://www.newsoftheworld.co.uk/1002_scroungers.shtml
It is a not infrequent wistful(?) call here for insurrection to rid ourselves of this destructive antidemocratic shower of shit, but where do you think the riots will start?
Where could you start without ideas that even the BNP or UKIP wouldn't advance? No, I think as Stan says you're getting it up the arse with a broken bottle, and have shown such evident signs of enjoying it over the last ten years, you will just get more of the same, only harder.
Thank God the architects' of your rape will be all right Jack, eh?
The price of butter has almost doubled in the last year (bottom end of market) from 45p to 85p. Chav pizza has gone from 99p to approx. £1.60. A free-range chicken has gone from approx £8 to £12. However, local-shot pigeon and pheasant remain competitive. Price for a pheasant has fallen from £3 to 2.50. Paper products (toilet roll, tissue, kitchen roll) creeping quietly e.g. tissues from 99p to 1.09.
The biggest price rises are at the end of the market which serves the very poorest in society. The ones Labour is supposed to be so goddam worried about. Cheaper sources of food are hard for them to find. They only have supermarkets or street markets, and these ingredients tend to need more time and more skill to process. Farmers' markets provide a self-satisfied glow to the merry wives of Waitrose, but they only make sense as distributors of premium goods.
Has the price of guns fallen? Wouldn't have thought so as the supply is theoretically restricted, but I don't fancy trying to explain to the police that I'm doing a shopping comparison.
Spot survey: only two copies left on stand of a magazine about emigrating to Australia, compared to half a dozen suggesting a move to Italy. Cover price £3.50.
"Alistair Darling claimed yesterday that "the fundamentals of the British economy are strong because of what we have done over the last 10 years."
What's he smoking?
- Western Europe's largest budget deficit
- The OECD's largest trade deficit
- A wobbling currency
- An economy reliant on financial services
- A booming subprime mortgage market
- Rising home repossesions
- Northern Rock fiasco
- Massive house and commercial property bubbles
- Wrecked pension schemes
- Policies (CGT, non-doms) made up overnight to chase headlines
- Inflation soaring (only luxury goods like TVs and iPods are getting cheaper, the poor are socked by prices of wheat, milk, petrol, electricity etc)
- Taxes rising: scrapped the 10p basic rate, council tax rising
You name it, Gordon Brown has made a mess of things. It's taken a decade for him to undermine the British economy, to sabotage the healthy economy Ken Clarke left him.
No wonder Brown wss desperate to become PM, he couldn't get out of being Chancellor quick enough. Hence why he chose a weak, yellow-livered patsy like Alastair "Yes" Darling as his puppet in the Treasury.
A clever move by Mr Brown to appoint someone even duller than him.
I can't honestly listen to the end of anything Darling says without suffering narcolepsy.
When He drones out the his statistics he is like a poor science teacher with an indifferent class...
H Hydrogen Atomic weight 1 Gas ..
Ba Barium Atomic weight 56 Metal
Cu copper Atomic weight 29 ..
He could be reading out anything .. expense claims .. dodgy donations lists ..
Maybe he inserts ' I am going to kill you all' into the middle of his texts.. who knows what this dim energy saving lightbulb is really thinking..
And so he goes on
He Helium Atomic weight..
Unman ..
Wittering..
and Zigo is absent.
Apologies, slightly off topic, but recalling Wendy Alexander's 'let off', it subsequently emerged that Lord Murray Elder, apparently a member of the Electoral Commision, had previously dontated a sum of money to Wendy Alexander's campaign fund. There are two letters in todays Herald from members of the public who are trying to find out more from the Electoral Commission, but they are being stonewalled. Apparently Lord Murray Elder "did not attend a panel meeting at any time when the Electoral Commission was conducting its investigations into the Alexander Campaign". The correspondents are trying to find out what panel he was on, as a website still lists him as being a member of one, and other panels are also mentioned on the site which do not list the members.
It sounds like classic NuLab doublespeak to me, denying something emphatically and hoping this will stop people digging too deeply into what actually happened, i.e yes he did resign from 'a panel' but perhaps he did not resign from the panel that carried out the Alexander investigation.
Last night,after hearing King,I re-read an account of the 1931 financial crisis which caused the fall of the second Labour government.Brown and Darling,our very own Laurel and Hardy tribute act,would be wise to study that crisis.The parallels are alarming.
Gordon Brown IS a fiscal colossus and inflation IS on target, tractor production rising, employment staggeringly high.
The Government has the UK economy safely on course despite troubled-waters.
Time now for Britain to stand full square behind its glorious leader.
yours sniggeringly,
Anthony Charles Lynton
Repossessions have increased over the last few years but they are still only at about half the rate they were under the Major government.
Not surprisngly, the mortage lenders who set out to attract sub-prime borrowers are the ones with most repossessions. The more responsible lenders, like Abbey and Halifax, still have a very small repossession rate.
Blundering Government gives £2m council grant to the WRONG Newcastle
As part of the two-year Local Authority Business Growth Incentives scheme Newcastle-under-Lyme should have got just £500k but were given over £2.5 million. Newcastle upon Tyne lost out.
The Leader of Newcastle-under-Lyme says that he shouldn't have to give the money back because it wasn't their fault and they have already earmarked the money!
Anyone want to take a guess at how many people will be sacked over this?
I will also take guesses at the number of people who [b][i]should[/i][/b] be sacked over this :D
"Repossessions have increased over the last few years but they are still only at about half the rate they were under the Major government."
It doesn't surprise you that we are experiencing a rise in repossessions already and we aren't actually in a recession? It takes time for economic problems to hit consumers hard enough that they just can't pay their mortgage at all. Wait till the recession really starts. Then you will see repossessions go through the roof. And this will then feed into the economy making matters even worse. The same is happening in the US where repossessions are now hitting the prime market.
"Brown has put this country in hock for years to come, and allowed millions of it's more infantile, irresponsible citizens to do the same."
Its worse than that. There is more debt in the system than cash. Which means that technically we can't pay off our debts ever because we can't even sell everything to pay off the debts. Thus we can only pay off the debt by printing money, or by adding a zero to everyone's digital bank account. Thing is that foreigners ain't going to like that, and 20million of us rely on foreigners to feed us. They may prefer to feed customers with proper money like the Chinese. The yanks will do alright - they still produce more food than they need. But we could really be fucked if the global economy stops in its tracks like it did in 1929.
woman on a raft said "has the price of guns fallen"
No it hasn't - as more dealers and distributors have gone broke the rest are pretty much operating as a cartel keeping prices of imported guns unrealistically high.
Repossessions have gone from around 8 to 10,000 four or five years ago to treble that last year and forecast to be upto 60,00 this year.
What's in store for 2009? I would estimate reposssessions to be approaching 100,000 dwarfing the previous record of 75,000 in 1992 during the house price crash of the early nineties.
This UK meltdown is only in it's infancy.
Ludwic said earlier
Get ready for: massively rising unemployment, tax rises, public spending cuts, house price crash, massively rising repossessions, bankruptcies, a collapse in the value of the pound, retail depression, belt-tightening on a huge scale......
Well so far this week 1000 jobs have gone in Corby and Wellingborough
E-surv (biggest client is N Rock) sacked 18 staff before Christmas
HousePriceCrash report estate agents going under. Anecdotal evidence reports that Local Authority search departments running at 50% of last year's volume (and now operating at a loss so more redundancies on the way there)
It's not all doom and gloom.
Tractor production is up for the 20th quarter in succession.
In the Northern Rock picture above,I notice three very similar looking,glasses wearing men.Is that the archetype Socialist Sap?
Buy foreign currency
Anonymous 11:50: That's because we are just starting into recession, give it 18 months and come back to us...
woman on a raft said "has the price of guns fallen"
- and I should have added that anything American is at an absolute premium as a lot of their arms industry has gone over to war production, and they've introduced unbelievable export controls on anything firearms related.
Apparently another northern based bank is seriously near to Northern Crock style situation - this time not geordie-run but located somewhere between Bradford and Bingley. It will be amusing to see if Darling and Broon act swiftly to bail out this one if it comes to the crunch.
"Repossessions have increased over the last few years but they are still only at about half the rate they were under the Major government."
Can't you see the difference? In 1992 the economy had been through 2/3 years of recession - right now (apparently) we've been in a boom. Boom, my arse!! A massive credit explosion is what we've had and a massive credit contraction is what we are about to have. Result - massively over-leveraged house buyers with nowhere to go to refinance when the rate rises 2/3%.
And Abbey and Halifax won't get hit? I'm in the game - oh yes they will!!
vervet 10:22 AM, February 14, 2008
(That was satire, in case no one noticed.)
I didn't
9:47AM
"Families have been warned to expect a decline in their standard of living as rising food and fuel prices place household finances under severe strain......."
Oh fuck, one will simply have to set an example to the nation and shoot a couple of corgis.
Jane Austen's big sister said:
It is a truth universally acknowledged that a single politican of advancing years and dubious proclivities must be in want of a wife.
Oi what's happened to the sign on system BTW?
In Gordo the Ineffectual's parallel universe everything is rosy and the Wehrmacht has almost reached Vladivostock and Stalin has been tried and hanged.
This country is headed for the U-Bend at a fast gallop with Gordo riding the hobby horse wearing rose tinted speccies and kakking himself.
Without labour, there is no capital.
Labour creates capital, and without it, the people are reduced to trading their homes and possessions, and with each sale and taking of profit, the price rises.
Only those who produce food and clothing, machinery and tools, those who build the houses , are contributing to the well-being of this island...
(Cuba, 1962, political speech by Osvaldo Torrado.).)
"Brown and Darling tell us that UK inflation is low and the latest CPI figure is only 2.2%."
Believe this pair of lying shits and you'll believe anything.
Currency trader ..."This UK meltdown is only in it's infancy"
oh yes, yes indeed
this will be a painful and drawn-out business
Re. the curse of Brown: Apparently the Fat One 'has a soft spot for Tottenham'... Shit, there go my hopes for a first trophy in 9 fucking years.
Will the last taxpayer to leave England please turn out the lights...
:(
Fucked? Fucked? That’s the usual mandarin class understatement. We’ve all been taking it up the arse so hard and for so long under this dog-breathed, bogey-picking, hiding in the closet cunt that ten years looking for the soap in the showers at Tennessee State Penitentiary, wearing the white pointed hood and robes and shouting “my pa shot that cunt Martin Luther” would seem like a holiday. King, despite his occasional attempts to show some cojones gets his pension rain or shine so he won’t blow the gaffe.
What these fuckwits in government, these users of apostrophes in the singular possessive pronoun, these holders of D grade GCSEs, bollock-brained, parasitic, inadequate on so many levels, unspeakable twats are really shitting themselves about is the lesson of the Northern Rock. The run on NR was the closest the British have coming to storming the Winter Palace since the Peterloo massacre. It was obvious that the thing would be propped up from early on and yet, stupidly, perversely, all the lemmings queued up to stoke the fires of their own financial self-destruction. To all the pleas for calm and solemn assurances, magnificently, came the fiercely independent response, rarely articulated, but nevertheless clear :- “Fuck off you lying cunts, my account is payable on demand so fucking pay up, we don’t trust any of you robbing fuckers as far as we could throw that fat Scottish cunt, if anybody can find him”. Now I know that most of them were pensioners, queueing because it was the only way they could find anybody to talk to, some of them so daft as to put the dough back next week, but it drew back the veil a little.
What’s dawned on them, finally, and what their insolvency (sorry, corporate restructuring) advisers will have confirmed (since it’s [note the correct use of the apostrophe] obvious even to those pie-faced, snivelling, intellectual pygmies, once they’ve spared some time from taking lardy, bollockless bankers to fancy restaurants and expensive pole dancing whorehouses) that there’s a personal debt crisis in this country.
The management of credit card companies is well on a par with the guys in the NatWest bank adverts. If you live in Southend or Chester look for familiar faces on www.amateur-blogs.com. These moneylenders, usurers, lowest of the low, preying on students ( fuckwitted, stupid, lazy, randy but short-stroked, pissed-up ungrateful shits they may be, BUT THEY’RE OUR CHILDREN!) aided and abetted by the slimy, belly-slithering, parasitic, syphilitic debt counselling industry have created a financial Numenor.
I know as much as anyone in this land about the law and procedures of bankruptcy, and a great deal more than many of the spineless, Next-suited, rubber-soled shoe wearing, smelly footed, sexually inadequate dickheads who farm IVAs and peddle debt consolidation( swap a load of unenforceable unsecured loans for a charge on your house – fuck off!). Properly advised the majority of these degenerate credit card debtors, these daft twats who pay interest at 23%, would say “ fuck an IVA, fuck paying so much a month for the rest of my life” and would petition their own bankruptcy, borrow the deposit and fee of £485 and tell *****card and that grinning cunt with the forest of rancid pubic hair round his mouth, wotsisname, you know the pickle fella, to stick their debt up their arse.
It’s the work of minutes to see from the Government's own websites, let alone what someone with any knowledge might point out, that the majority of these people could organise their affairs to keep their houses, furniture and cars without breaking the law and certainly without fear of any onerous sanctions, whilst writing off completely all their debt. So once these arseholes realise, or more likely, someone tells them, the resulting wave of bankruptcies, already near all time highs will engulf this financial Numenor and drop a credit card issuer like the World Trade Center – and then you’ll see some fucking woe!
Oh, and just to make sure the UK can never get off its knees, Labour have fucked the education system.
Since they made students pay for their tuition in full, we have been producing far fewer engineers and scientists. The reason for this is that engineers attract lower salaries as they need to compete on world markets for their income. This makes investing in ones education as an engineer a rather precarious proposition. Instead, more and more young people are training to enter the law or the media. Both these professions are internal to the UK and therefore not so subject to international competition, so wages are remaining high - high enough to pay back student loans. However, we now have such a serious shortage of engineers that we cannot even meet our own needs for engineers working within the UK economy on things such as new power stations, let alone export our engineering expertise to the rest of the world.
Consequently we are going to find it increasingly difficult to export anything of value to the res of the world, and even if we started today to rectify this problem it takes about ten years for a student engineer to go through education, training and professional development to reach a point where he is actually productive.
these holders of D grade GCSEs, bollock-brained, parasitic, inadequate on so many levels, unspeakable twats
Steady on, Shithouse. The government has made great strides towards diversity and equality among its ministers, thereby improving the Cabinet process and so Britain as a whole.
Think H. Harperson, J. Smith, T. Jowell, R. Kelly, H. Blears, Y. Cooper, C. Flint... True intellectual giants to a man.
I'm just hoping that all those media johnnies who have told us over the last 11 years just how fabulously clever Mr Brown is, and what a superbly heavyweight intellectual politician he is (I'm looking at you, d'Ancona), have the decency to go and shoot themselves.
Preferably somewhere in the body that doesn't cause immediate fatality, just a long, lingering and painful death.
Crikey bogeyman, I knew our Ruth's gender was open to question, but ALL the others?
Lovely, Mt Shithouse, thank you.
Great headline.
I wish politicians and business leaders really did say things like that.
Drew and Real are right, this is only the beginning.
Let's hope the mass immigration can at least stave of the worst of a house price crash.
see, there can always be a positive side to things if you look hard enough...
Go on lurking journalists.
You know you want to ask the Treasury if they still believe there's no more boom and bust.
An end to Broon and bust?
gordon brown and alistair darling are a pair of lying cunts.
any companies which have contracts with these liars should understand that they are not men of honour and therefore cannot be trusted to honour those contracts.
Real Schadenfreude said...
"Since they made students pay for their tuition in full, we have been producing far fewer engineers and scientists..."
English university students are heavily subsidised. Overseas students are the ones who pay in full (plus a bit over the odds to help subsidise the UK students)
"... it takes about ten years for a student engineer to go through education, training and professional development to reach a point where he is actually productive."
More like 5 or 6 years in my field - Civil Engineering.
I don't understand why Mervyn King has a job. He looks over 50 to me and most people over 50 in this shite country are made redundant. What is the dirty little secret? Why are all the men at the top in the corporate world over 50, deciding how many redundancies to preside over, and everyone else over 50 out of a job or delivering supermarket groceries? I don't get it. Are they alien lizards? When did it become illegal for Englishmen to possess handguns without a licence (for example)?
in the final analysis politics isn't about ideology, it is all about cashology.
when wankers like gordon brown fuck peoples' wallets they get their just desserts.
brown has fucked our wallets raw.
your turn gordon.
your turn to be fucked.
English liberation front:- to your last question, 1932, when the then Home Secretary assured the House that it was no part of the government's intention to curtail the rights of law-abiding Englishmen to use firearms to defend their homes and families.
Somehow that has metamorphosed into "it is no part of the government's intention to deprive anyone of the means to self-defence EXCEPT law-abiding Englishmen."
anything American is at an absolute premium ... controls on anything firearms related.
Price of ammo has indeed risen steeply (e.g. box of 250 9mm rounds gone from $27 to $42 in 18months) but it's not part of the gov't's inflation calculation LOL
This country does not need a revolution is has already have one of those. Although it seems very few of us seem to have noticed.
It will soon be time for lovers of freedom, from whatever political wing they think they come from, to rise up against our ruling elites.
We will soon have nothing left of any value to lose. As far as I am concerned we lost anything of value many years ago.
WE NEED A LIBERTARIAN COUNTER REVOLUTION, and we will need one soon.
We have nothing to fear but fear itself.
The police are going to have as much shit paying the bills as the rest of us. All but the super rich and our political masters are going to suffer more then at anytime in their entire lives, and for longer.
Do not allow then to side line us into racism or division, we must be united Muslim Christian Hindu Jew black and white.
This is all about US and THEM, and please do not let anyone brainwash you all anymore into thinking any different.
Send all of the Evil shit back to the Dark Side Of The Moon, from where they all came, Labour Tory and Liberal alike.
Take back our country, we can all live better without being eaten away from the inside by these lying Neo-Marxist and Neo-Fascist parasites.
Above all remember; THEY CAN NOT STOP US IF WE REMAIN PEACEFUL and have little to stop us even if some do not.
Atlas shrugged, but soon he will stop shrugging, and take his job seriously.
Tsk!, Tsk! only second time I have ever been censored by the Libertarian Guido? No ifs no buts is it or is have you burnt the Iron Broom? Pity - you were doing so well.
"English university students are heavily subsidised. "
Pedant. The point was that the sheer cost of going to university puts people off certain valuable courses because the salary is not sufficient to make the initial investment worthwhile. Consequently we are now desparately short of certain professional people, particularly electrical and electronic engineers.
"... it takes about ten years for a student engineer to go through education, training and professional development to reach a point where he is actually productive."
More like 5 or 6 years in my field - Civil Engineering."
Really? An engineering degree usually takes three years but you normally have at least one year of work experience. And you are saying that just after a year of that initial training you are doing something that justifies your salary in full? Well it ain't like that in electronics. It takes several years of postgraduate experience before an electronics engineer will be contributing significantly to a project that might actually be sold on the open market. For some it might be sooner if they are lucky, but for most they will be put on noddy projects that are unlikely to go anywhere until they have learned how to engineer cost competitive products. This takes a long time.
Wrong Guido; real inflation, which is an increase in the money supply which is currently 12 to 13% not the CPI which anyone with brains knows is gibberish. Price rises are a result in the increase in fiat money, a symptom not the cause of inflation. Back to school dunder-head. What till we get peak oil! Then you will realy see the shit hit the fan!
On the World at One on Wednesday Darling himself said several times 'that we will see a return to growth'. Seems like he already knows what he daren't admit. That we aren't growing at all at the moment.
Tractor production is increasing, the grain harvest has broken all records and at No37 Workers' Paradise Coal Mine, Comrade Miner Stakhanov has loaded ten times more coal in a shift than production norms dictate.
All hail our white haired chancellor for his insight. All hail the glorious party. All hail our Glorious Leader for his prudence. Hail Hail Hail!
[The crowd will now rise to their feet and break into a display of spontaneous gratitude of exactly fifteen point four five minutes duration].
remittance man
Four legs good,
Two legs better
Oink.
45govt: "to your last question, 1932, when the then Home Secretary assured the House that it was no part of the government's intention to curtail the rights of law-abiding Englishmen to use firearms to defend their homes and families."
Thank you. I understood that the right of Englishmen to own firearms to defend their homes was enshrined in the Bill of Rights (and in Common Law) until the pernicious 1920 Act? Reading Greenwood it is clear that most of the 20th Century firearms legislation was knee-jerk, framed around false conclusions in response to media/female hysteria and has done absolutely NOTHING to reduce the illegal use of firearms by criminal gangs, which is increasing. What it has done is to remove the ability of law-abiding citizens to protect themselves and their property. A liberty enjoyed by ENGLISHMEN for over a thousand years until LEFTY LABOUR FUCKWITS arrived on the scene.
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