Crash 2 The Sequel!

[Merlin]

I wish I knew what you are on about!!

[Malcolm Robinson]

That's why I put the last picture up Merlin!!!!!

We are all in the house at the end of the explanation!

Why......... I would say because the establishment has protected itself, privilege and class rather than hard work, prudence and effort.

That's about word for word (OK different words but still!) what you said on the railway posting!

[Malcolm Robinson]

Manufacturing activity in both France and Germany has now been contracting for 10 months in a row.

In Spain, it's contracted for 20 months in a row.

In Greece, one in five bank loans is thought to be toxic.

Nearly 40% of people under 25 in Italy are unemployed.

French car output since 2005 has fallen 45%.

Since 2006, the average house selling price in Spain has fallen 70%.

Happy days in Euro land and we now have Frau Merkle telling the UK to shut up or be kicked out..........

[Malcolm Robinson]

Back in the UK........... Net National Insurance receipts this fiscal year are forecast to be £106bn, benefit payments will be not less than £207bn.

New taxes anyone?

[Adam Hogg]

Another one bites the dust:

http://www.bbc.co.uk/news/business-21021073

[Malcolm Robinson]

I see Peston is being quoted........................if there is anyone who enjoys talking after the fact then claiming to have pre-empted it its him.

So HMV, Jeesups, Woolies, Comet.............tip of the iceburg.

[Malcolm Robinson]

All that dosh gone into the banks and still..........

http://www.bbc.co.uk/news/business-21037568

[Malcolm Robinson]

In Spain Bankia has a negative value of 4.2 billion euros, and its parent group BFA is 10.4 BN in the red yet Bankia is about to receive 18 BN euros of Eurozone aid?

Greece says it needs 27BN Euros for its banking system which is only worth 22BN. Their already priced in 10% hike in electricity prices is being upped by almost another 3BN Euros.

These are prime examples of how citizens are being fleeced to save the privileges of the few.

To quote Money Week: "We believe the outcome of this problem is inevitable… and the recession, joblessness and instability you see right now is only the first stage of it. Many people think the slump we're in now is as bad as it will get. But the truth is, it's only the start.”

Full article.

Time to stock up on the water purification tablets!

[Adam Hogg]

More Job losse's and empty Business units.

http://www.bbc.co.uk/news/business-21099741

[Malcolm Robinson]

Looks like someone is taking huge positions in VXX (VIX) puts starting next month and up to June.

Metals look to be as manipulated as ever, especially silver! Gold looks to be pegged artificially anyway now.

Is this the last 10 minutes of playtime in the playground before teacher rings the bell?

[Malcolm Robinson]

Any 'unexpected growth' that hadn't been factored in, said BoA, could very easily cause the bonds market to crash.

Might cause debt to be repaid more like!

Which mighty organ of intelligence has Wor Dave called in to help privatise the Royal Mail.................BoA????

[Malcolm Robinson]

http://rt.com/business/news/us-major-deposit-withdrawal-740/

[threegee]

http://rt.com/busine...withdrawal-740/

Money is moving into equities at the moment; the only place you can get any sort of return, and one that enjoys some sort of inflation protection.

[Malcolm Robinson]

Looks to me like any other form of investment is being 'Zirpd' to keep equities artificially high and protect bankrupt fiat currencies.

I thought equities relied on fundamentals for their prices? The consumers are bust and the economies are over leveraged, even the best companies can't avoid a downgrade, or should be!

If we had taken the bust in 2008-9 we would probably be coming out of it by now. Instead we allowed half witted politicians to be hook winked by their financial masters into protecting financial interests and socialising all mad banking losses. It can only end very badly indeed, we are bust and because of the scale there is no way out!

[threegee]

The way out is inflation. Inflation that's not too wild, but nevertheless bites into mortgages, bonds, other debts, and into fixed incomes. Then the best place to be is in companies with pricing power - equities!

http://uk.news.yahoo.com/bank-englands-king-says-time-review-inflation-targeting-195013654--business.html

[Malcolm Robinson]

Not sure anyone's got a handle on this one GGG.

http://www.bloomberg.com/news/2013-01-25/u-k-economy-shrinks-more-than-forecast-as-triple-dip-risk-looms.html

and whats the Footsie doing...........the emperor has no clothes on!

[threegee]

It's as I said many moons ago: a ten year bump along the bottom. The month to month changes are now so small that any major transaction (aircraft or whatever) can have the financial press blowing hot or cold. In the light of this the recession criteria are a bit daft.

The FTSE is reflecting the smart money - going on things not paper. The blue sky stuff is gone now, and it's an emphasis on real earnings. There are actually a lot of bargains around for pickers in the the more speculative companies, or ones that have good recovery prospects.

[Malcolm Robinson]

http://www.fdic.gov/bank/individual/failed/banklist.html

[Malcolm Robinson]

Schadenfreude anyone?

http://www.telegraph.co.uk/finance/financialcrisis/9832845/France-totally-bankrupt-says-labour-minister-Michel-Sapin.html

[Malcolm Robinson]

Not just France then...........

http://uk.news.yahoo.com/video/naples-buses-run-fuel-071633061.html

[threegee]

Not just France then...........

http://uk.news.yahoo...-071633061.html

Hey, it's Italy! Always some institution having their electricity cut off for non-payment or something!

The real news is: http://money.cnn.com...ndal/index.html

Too close to Draghi for comfort. Save the Euro? Save yourself first!

the world's financial elite, gathering from Jan. 22 at the World Economic Forum in Davos, Switzerland, will clamor to know how he believes the currency can overcome the huge existential challenges it still faces.

Read more: http://business.time.com/2013/01/17/mario-draghi-the-man-who-would-save-europe/#ixzz2JXjP3DQ8

Easy! You just do the Monte-Paschi and you turn around - that's what it's all about!

[Malcolm Robinson]

Did you see who they paid out to.......................flipping heck!

[Malcolm Robinson]

There is no € in Mario Draghi!

[Malcolm Robinson]

The Netherlands have just nationalised the fourth-largest Dutch mortgage lender, SNS minutes before it imploded.

French lender Credit Agricole announced a huge 2.7B Euro write down of balance sheet goodwill.

The Monte dei Paschi di Siena bank is being shot a 3.9B Euro lifeline.

And Deutsche Bank suffered a €2.2bn quarterly loss.

Good job the EU is on the right path to recovery.

[threegee]

Meanwhile ... in Spain ...

http://politica.elpa...226_077767.html

The ruling party takes double entry book-keeping to a new level!

Translation: http://translate.google.com/translate?sl=es&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&eotf=1&u=http%3A%2F%2Fpolitica.elpais.com%2Fpolitica%2F2013%2F02%2F01%2Factualidad%2F1359751226_077767.html

Of course it's only Euros, not real money, and everyone is at it!