Discussion
From the Evil Speculator traders blog, and posted from a think tank called LEAP2020.
So then, LEAP/E2020 asks two simple questions:
. who will be able/want to help the United Kingdom after the 6th May when its political chaos will inevitably expose the advanced meltdown of all its budget, economic and financial parameters?
The financial situation is so serious that the technocrats running the country have devised a plan, submitted to the parties contesting the next General Election, in order to avoid risking a power vacuum which could lead to a collapse in Sterling (which is already very weak) and British treasuries (Gilts) (the Bank of England having bought 70% of those issued over the last few months): Gordon Brown would remain Prime Minister even if he loses the election, unless the Conservatives were able to garner sufficient votes for outright victory (5). In effect, with an economic and political crisis as a backdrop, the polls lead one to think that the country is turning to a « Hung Parliament », without a clear majority. The last time that happened, in 1974, was a kind of political preliminary to IMF intervention eighteen months later (6).
For the rest the Government puts a positive spin on the statistics to try and create the conditions for a victory (or a managed defeat). However the reality is depressing. British real estate is trapped in a depression which will prevent prices reaching their 2007 levels for many generations (in other words, never) according to Lombard Street Research (7). The three parties are preparing to face up to a catastrophic post-electoral situation (8). According to LEAP/E2020 the United Kingdom could well suffer a « Greek (9) » event with British leaders announcing that the country’s situation is substantially worse than that disclosed before the election. The numerous meetings, at the end of 2009, between the Chancellor of the Exchequer, Alistair Darling, and Goldman Sachs is a very reliable indicator of sovereign debt manipulation. As we wrote in the last GEAB issue, all one needs to do is follow Goldman Sachs to know where the next risk of sovereign debt payment default lies.
So then, LEAP/E2020 asks two simple questions:
. who will be able/want to help the United Kingdom after the 6th May when its political chaos will inevitably expose the advanced meltdown of all its budget, economic and financial parameters?
The financial situation is so serious that the technocrats running the country have devised a plan, submitted to the parties contesting the next General Election, in order to avoid risking a power vacuum which could lead to a collapse in Sterling (which is already very weak) and British treasuries (Gilts) (the Bank of England having bought 70% of those issued over the last few months): Gordon Brown would remain Prime Minister even if he loses the election, unless the Conservatives were able to garner sufficient votes for outright victory (5). In effect, with an economic and political crisis as a backdrop, the polls lead one to think that the country is turning to a « Hung Parliament », without a clear majority. The last time that happened, in 1974, was a kind of political preliminary to IMF intervention eighteen months later (6).
For the rest the Government puts a positive spin on the statistics to try and create the conditions for a victory (or a managed defeat). However the reality is depressing. British real estate is trapped in a depression which will prevent prices reaching their 2007 levels for many generations (in other words, never) according to Lombard Street Research (7). The three parties are preparing to face up to a catastrophic post-electoral situation (8). According to LEAP/E2020 the United Kingdom could well suffer a « Greek (9) » event with British leaders announcing that the country’s situation is substantially worse than that disclosed before the election. The numerous meetings, at the end of 2009, between the Chancellor of the Exchequer, Alistair Darling, and Goldman Sachs is a very reliable indicator of sovereign debt manipulation. As we wrote in the last GEAB issue, all one needs to do is follow Goldman Sachs to know where the next risk of sovereign debt payment default lies.
from Bob Crow, the hardline leader of the Rail, Maritime and Transport union.
“At last the truth is out and the election has shifted to the £50 billion cuts legacy from the bankers bailout which the politicians are lining up in secret for the UK’s public services," Mr Crow said.
“There is no question that there will be widespread strike action as workers in health, education, transport, the fire service and across the whole spectrum of public services fight back against the full force of the attacks which will be unleashed after polling day.
“If you want a snapshot of what we are facing take a look at what’s happening in Athens today. Junk status, key services ripped to shreds and workers on the streets. Greece today - UK after May 6.”
“At last the truth is out and the election has shifted to the £50 billion cuts legacy from the bankers bailout which the politicians are lining up in secret for the UK’s public services," Mr Crow said.
“There is no question that there will be widespread strike action as workers in health, education, transport, the fire service and across the whole spectrum of public services fight back against the full force of the attacks which will be unleashed after polling day.
“If you want a snapshot of what we are facing take a look at what’s happening in Athens today. Junk status, key services ripped to shreds and workers on the streets. Greece today - UK after May 6.”
LOL...Bob Crow....trying to pass off his actions on to the banking situation...even if none of it happened you can bet that he would be calling for a ballot / strike come the next pay talks. Whatever they are offered is never enough, and if he can get his stupid face on the telly, so much the better.
Yeast Lord said:
from Bob Crow, the hardline leader of the Rail, Maritime and Transport union.
“At last the truth is out and the election has shifted to the £50 billion cuts legacy from the bankers bailout which the politicians are lining up in secret for the UK’s public services," Mr Crow said.
If only we just had a £50bn debt.“At last the truth is out and the election has shifted to the £50 billion cuts legacy from the bankers bailout which the politicians are lining up in secret for the UK’s public services," Mr Crow said.
If only.
The Deficit is about that every two months now - March was £23.5bn
Brown makes the bankers look like amateurs at losing money. In addition it was Brown getting rid of the UK Glass-Steagall that caused the US to get rid of theirs, which caused the credit boom and subsequent crash. Well done Winky, you w
ker.I don't care if the pound gets smashed so hard that I can only afford lo-cost beans and have to walk everywhere. As long as the Euro superstate is falling to bits, I will be a happy man.
This awful socialist attempt at coercing the whole of Europe into a soviet style dictatorship is one of the most cancerous, odious things to ever have graced the earth.
Proof that you put enough sick minds together and they will seek to create something truly foul in their own collective delusional idiocy.
This awful socialist attempt at coercing the whole of Europe into a soviet style dictatorship is one of the most cancerous, odious things to ever have graced the earth.
Proof that you put enough sick minds together and they will seek to create something truly foul in their own collective delusional idiocy.
I think that the handwriting is on the wall for the Eurozone. The UK will fare better (1)after the election and the uncertainty it brings and (2)If..., whoever is elected, they can do something about the 450+% public debt to GDP ratio (in other words - massively cut the fat)
Just MHO from an outsider looking in.
Just MHO from an outsider looking in.
It certainly is a poison chalice, and realistically they have 3-4 years to make swaything cuts in public services, to my mind it's on teh Tories who will carry that out.
It will result in thousand of government workers being out of work especially in areas where the proportion of state workers is rtediculously high - I think Belfast and Newcastle are pretty bad - not really tory heartland though is it
It will result in thousand of government workers being out of work especially in areas where the proportion of state workers is rtediculously high - I think Belfast and Newcastle are pretty bad - not really tory heartland though is it
Tony*T3 said:
Given the above scenarios, do you not think that perhaps any party that wins the next election might suffer a voter backlash that could last decades?
Poison chalice.
I suppose there is a reaonsable chance that if the Tories get in and make cuts, the Lib Dems capitalise on the pain at the 2015 election and become the main party, with labour and the cons jostling for 2nd place.Poison chalice.
ErnestM said:
I think that the handwriting is on the wall for the Eurozone. The UK will fare better (1)after the election and the uncertainty it brings and (2)If..., whoever is elected, they can do something about the 450+% public debt to GDP ratio (in other words - massively cut the fat)
This is my view.We only have the failures of one Government to correct. They have the failures of many more, a number of which are overtly corrupt and incompetent rather than just incapable and incompetent.
Rude-boy said:
ErnestM said:
I think that the handwriting is on the wall for the Eurozone. The UK will fare better (1)after the election and the uncertainty it brings and (2)If..., whoever is elected, they can do something about the 450+% public debt to GDP ratio (in other words - massively cut the fat)
This is my view.We only have the failures of one Government to correct. They have the failures of many more, a number of which are overtly corrupt and incompetent rather than just incapable and incompetent.
I agree on the hung parliament point.
It also is not going to be easy for anyone and whoever wins this election is going to really need balls of steal to make the moves that are needed. Funny thing is that for the first time in many years I am sensing a mood within the people that actually pay for everything that they are willing to endure a few years of pain for the long term gain, but only if they are treated like adults and not just cash cows to be fawned over every few years.
There is also only one party with a proven track record for spectacularly correcting the cock ups of the previous incumbents.
It also is not going to be easy for anyone and whoever wins this election is going to really need balls of steal to make the moves that are needed. Funny thing is that for the first time in many years I am sensing a mood within the people that actually pay for everything that they are willing to endure a few years of pain for the long term gain, but only if they are treated like adults and not just cash cows to be fawned over every few years.
There is also only one party with a proven track record for spectacularly correcting the cock ups of the previous incumbents.
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