Crash 2 The Sequel!

[Malcolm Robinson]

France's economy looks to be tanking with production figures going in exactly the wrong direction. This is hardly surprising when you consider the percentage of workers who work in their public sector and what is everyone trying to cut and rebalance now-a-days?

FEO.bmp

I know from first-hand experience just how difficult it is to start a new small business in France, best thing to do........

FGI.bmp

[Malcolm Robinson]

Idiot!

http://www.dailymail.co.uk/news/article-2209303/Lord-Mandelson-Britain-ready-join-Euro-10-years.html

[Malcolm Robinson]

Good idea....................

[John Fox (foxy)]

Good idea....................

Only thing that would change is the amount of expenses that is "Fiddled"

[Adam Hogg]

Only thing that would change is the amount of expenses that is "Fiddled"

Foxy for PM!

[Malcolm Robinson]

(Reuters) - Greece's unemployment rate hit a new record in July with one in four now out of work, like in Spain, as a crippling recession and austerity measures continued to take a toll on the labour market.

Unemployment rose for a 35th consecutive month to 25.1 percent in July, more than double the euro zone average and up from a revised 24.8 percent in June, Greece's statistics service ELSTAT said on Thursday.

The jobless rate has more than tripled since the debt-laden country's five-year recession began in 2008 and now stands at 54 percent for those aged between 15 and 24 years, compared with 22 percent in July 2008.

[Malcolm Robinson]

And of course the Iberian experience...........

http://www.bbc.co.uk/news/business-19905747

[Malcolm Robinson]

Worth a read for anyone looking to stay up…………especially GGG!

Basically get rid of the current corrupt capitalist money supply and replace with a more social one.

http://www.imf.org/external/pubs/ft/wp/2012/wp12202.pdf

[Malcolm Robinson]

Here's the latest result from one of the biggest Euro banks Santander.

Incidentally this was the bank urging West Bedlington town Council to place their capital reserves with them! Hope someone was listening!

http://www.businessweek.com/news/2012-10-25/santander-profit-plunges-on-spain-property-purge-as-u-dot-k-dot-slumps

[Malcolm Robinson]

International Monetary Fund (IMF) report to the Eurogroup Working Group (EWG).......

"It is clear that Greece is off track and there is no chance they will cut the debt to 120 percent of GDP in 2020 as envisaged. It will be rather 136%. New prior actions will be needed, on top of the existing [ones] before any new tranches of Eurozone and IMF emergency loans to Greece can be paid."

Hang onto your hats………………

[Malcolm Robinson]

Looks like moves afoot on gold..............Germany want to repatriate theirs and ECB might make private holdings illegal in Euro land!

Never mind the UK is out of recession..............just who do these half wits think they are kidding?

[Adam Hogg]

Looks like moves afoot on gold..............Germany want to repatriate theirs and ECB might make private holdings illegal in Euro land!

Never mind the UK is out of recession..............just who do these half wits think they are kidding?

Themselves?

[Malcolm Robinson]

http://www.journallive.co.uk/north-east-news/todays-news/2012/10/27/north-east-house-prices-fall-as-the-divide-widens-61634-32112963/

[Malcolm Robinson]

http://www.nytimes.com/2012/10/28/world/europe/list-of-swiss-accounts-turns-up-the-heat-in-greece.html

[Malcolm Robinson]

http://www.reuters.com/article/2012/10/29/spain-retail-idUSL5E8LT3TY20121029

[Malcolm Robinson]

You know when the Eurobods say they only politely put up with the UK………..

Take a look at these UK and Euro land trade figures………We should be seen as the favourite uncle!

Our trade in goods with the 27 nations of the European Union

2009 -£37.9 billion

2010 -£44.1 billion

2011 -£43.3 billion

[keith lockey]

We are their favourite uncle, everyone keeps borrowing off us.

[Malcolm Robinson]

looks to me like we are the favourite customer!!!!!!!!!!

[Malcolm Robinson]

Anyone have a clue why Gold has dropped so spectacularly?

Looks like a concerted action to get gold down at the end of the year, with a clear message, invest in fiat paper products!

Fiscal cliff...........must be a slight undulation in the road.

[Malcolm Robinson]

Like this from ZH,

'Finally, we must question the morality of Fed programs that trick people (as if they were Pavlov's dogs) into behaviors that are adverse to their own long-term best interest. What kind of government entity cajoles savers to spend, when years of under-saving and over-spending have left the consumer in terrible shape? What kind of entity tricks its citizens into paying higher and higher prices to buy stocks? What kind of entity drives the return on retiree's savings to zero for seven years (2008-2015 and counting) in order to rescue poorly managed banks? Not the kind that should play this large a role in the economy.'

Yet somehow we allow it to happen?

[Malcolm Robinson]

Oh dear........happy 2013........not for some...........

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9763716/More-retail-casualties-as-Christmas-trading-unwinds-says-Begbies-Traynor.html

[Malcolm Robinson]

Worth the read if anyone has the stoicism......

http://www.scribd.com/doc/117792941/BCG-Ending-the-Era-of-Ponzi-Finance-Jan-2013

[Malcolm Robinson]

Father of the EU?

http://uk.news.yahoo.com/britain-leave-eu-former-commission-chief-delors-112759572.html#fZrcO4t

[Malcolm Robinson]

So the Yank have swerved away from the 'fiscal cliff' again……….no they haven't they have just put off their day of reckoning, and everyone else's! Last thing the world needs at the moment is the biggest bankrupt to go legit! Wouldn't be surprised if China had a hand in this because it's only the likes of the still over extended American consumer keeping China afloat too. Would still like to ask Hank what happened to that 900B dollar TARP?

BTW, looks like China is starting to roll out her own world first reserve trading currency! Yanks won't like that; Saddam was the last one to try that trick!

Back to Euroland and the PIGS are buying their own debt with their own structural reserves. Spain for example is buying her own bonds with her Social Security Reserve Fund, anyone else see a problem there soon? When that pack of cards folds…. no pensions, no healthcare, no education………..€62B and counting!

The UK is no better £200B and counting into QE to keep bankers in the lifestyles they have become accustomed to. All that issued as real debt yet we still have to borrow more to pay day to day expenses.

Two ways to repay debt either cut your expenses, live frugally and repay it out of the savings or earn more and repay it out of increased earnings. Doing both is just an amalgam of the two!

We are doing neither…………Only one way this can end now!

[Malcolm Robinson]

Anyone got a shovel.................