Monday, 23 March 2009

Brown on Terror

We are about to take the war against terror to a new level.

Seriously, FUCK OFF. We don't need to escalate this clusterfuck of a war any further. In fact, when the hell are we going to withdraw from Iraq and Afghanistan?

The War on Terror is a complete fucking sham/scam, which has cost far too much in blood and money, fighting a mere concept. Illegal seemingly unending war and an increasingly totalitarian society are NOT the right ways to deal with the threat of terrorism. In fact, the wars in Afghanistan and Iraq have undoubtedly made the UK less secure and so more likely to be the target of a terrorist attack.

Thanks Tony and Gordon, what a legacy you have left us with. Cunts.

Wednesday, 18 March 2009

Quantitative Easing US Style

The Fed plans to inject $1.15 trillion (£808bn) into the US economy in an effort to reflate it's stalling economy.

That is a HUGE amount of money to be pumping into the system, it’s approximately ~10% of GDP!!
What a trillion dollars actually looks like.
Hopefully Bernanke and the other members of the Federal Open Markets Committee (FOMC) know what their doing. These efforts are to ward off the dangers of deflation; however such a surge in the money supply could lead to inflation accelerating inflation in the future, if this excess money is not ‘sucked out’ of the system when markets and the economy begins to recover. Quantitative easing now could be storing up inflation problems in the future. This coupled with higher taxes to pay off deficits that have been allowed to spiral, is not a pretty picture.

2m+ Unemployed & the IMF slam UK growth prospects

UK unemployment last month jumped at the fastest pace since records began
Not really all that surprising, what goes up inevitably must come down. And employment certainly is continuing that age-old trend. Unemployment will continue to rise for quite a while as time progresses and the recession deepens. That is the nature of the beast. 6.5pc is not all that high in comparison to France (7.9pc), the USA (7.6pc) or Germany (7.2pc) although we will catch up over the coming months.

Britain will take longer to recover from the recession than any other major economy, according to a leaked International Monetary Fund report.

Again this forecast does not surprise me, two of the main drivers of UK growth over the past decade have been in financial services and housing. Both of these sectors have so far bared the brunt of the downturn and will remain injured for some time. Where will growth come from for the recovery? I don’t know, but it is unlikely to come from the banks, seeing as the Government now has it’s grubby fingers clasped around them and will likely to be unwilling to release it’s grip soon, or from the housebuilders who are going to wait a while before the start new projects, as prices continue to head southwards.

The future doesn’t look too good at the moment, but we can be reassured by the fact that recessions do end, growth does pick up, unemployment falls and hopefully Brown & Darling are gone, before they can cause any more damage.