Jul 04

Today Mark Carney indicated it was only a month before he would make all his old mates at Goldman Sachs rich beyond even their dreams of avarice by destroying the pound which promptly tanked. OK I am going to America next month but it’s still bullshit. Here’s how zerohedge explained it:-


…meaning that some time in August Goldman’s latest central bank head will proceed doing what Goldman central bank heads do best: crush currencies in order to boost nominal, not real, returns and ensure another record Goldman bonus pool.

Your UK savings if you still have any and your UK pensions are there to be liberated. It’s all they have left to steal after Hunt’s parceled out the NHS to financial interests. How have we had 6 years below zero growth and the rich richer than ever? Do the Math and then watch what the Turks and Egyptians thought of similar bullshit.

There is no great art to this economics. For all the esoteric wanking of the economics profession we are just being stolen off. We given them a £20 and they change it for a tenner 5 pound coins and a fake fiver and we accept it then we do it again. You’re not being defrauded by geniuses! Danny Alexander, George Osborne and Ed Balls!

Wake up and smell the fraud.

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Mar 07

Vince Cable called for an end to Austerity.

Sadly he did not call for an end to QE and artificial interest rates as the gutless clown Osborne prepares to hand over the economy to the QE junkie Carney. Osborne is showing even greater cowardice than Brown who one could argue had good reason to hand over monetary policy in 1997 even if that abdication of responsibility looks like criminal incompetence 15 years later.

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Jan 31

It’s tough to say that the current Westminster fluff over tax avoidance is well fluff but it’s fluff. MPs try to sound moral about the world they created. The point is the world envisaged and logically derivable from the Brown Govt is one of a Kleptocracy being slightly more generous to the poor but emphasising the tax revenue from the rich. A world of the beholden to their betters under 24 hour surveillance.

In the US as the Obama Administration tries to fulfil the similar dreams of Clinton and Bush this duality can be seen by JP Morgan operating Food Stamps whilst rigging so called Markets, stealing from its customers and M F Global customers.

Even the utopia of a populace in thrall to his magnanimity as Brown imagined has the problem there is only so much wealth they can steal from savers and pensioners whose incomes and job prospects are falling. We now have new Bank of England head Mark Carney’s operation to kill what little remains of pensions with QE tying up with Osborne’s crusade against the poor. For all the bluster of the public accounts committee and the rhetoric of Labour and Conservative the clownery will continue regardless of how much tax Amazon or Starbucks pay. Bank fraud will continue no matter how much time Police spend on dead paedophiles or people who listen to phone messages.

We on the left must try to get above the Content Fetishism and move to raise the real issues even if it means pointing out the deformed version of Capitalism we have.

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Jan 29

Mark Carney the Goldman Sachs educated new head of the Bank of England promised inflation and more and more monetary policy when the OECD suggested monetary policy was maxed out. Indeed rather than inflation lowering he would target nominal GDP no doubt a measure not of real but monetary value in Sterling.

Already European spending on everything but rent is falling. Why is rent rising? This a side effect of QE and low interest rates where asset prices are forced upwards like Govt Bonds and Rents and represents a further contraction of demand. As this income is transferred from those with discretionary spending to those with either debt or more discretion who are saving.

In short Carney promises to kill your current and future pensions and to further feed the small percentage who benefit from this economic insanity.

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