Bob Parker of Credit Suisse Asset Management was asked on WATO why the London stock exchange is not following the NY exchange downwards this week. Parker opined that it’s mainly down to the British government’s insurance scheme for the banks (plus the gaping holes in the Messiah's scheme which the markets don't like). Ah, yes. That would be the insurance scheme that those novices Osborne and Cameron proposed in November last year. Noticing that there were Tories in the room, you had your fingers in your ears, of course, so in January this years they went further, to try and force you to listen:
Mr Osborne said the Conservatives will table an amendment to include a National Loan Guarantee Scheme, in which banks would be allowed to buy state insurance to cover the risk of firms failing to repay their loans. Source
Getting more desperate. you were listening at this point, no doubt hoping to pick up some tips. But, oh dear, those old conditioned reflexes, still working so many years after you ceased to to be a student:
Labour hit back, however, by accusing the Conservatives of failing to explain how they would fund such a scheme.
And now you have introduced exactly such a scheme, to the relief of the markets.
It's not very convincing when you snort contemptuously at an idea which the entire finance industry is screaming at you to take up and which you later adopt, just because a Conservative suggested it.
I have lost count of how many times you've done that. It's not big and it's not clever. It's pathetic.
Your trouble, Gordon, is that you mix business with pleasure. Never a good plan. You are obsessed with your raging, obsessive hatred of the Conservative Party. You enjoy your student-politics game of Kick-a-Tory so much that you cannot keep your mind on your job. You really are an obsessive and irresponsible bastard, aren’t you?
Be a man Gordon, go now and take those liebour parasites with you, your vampires in government have bled Britain dry far too long. Go,go,go.
ReplyDeleteYour treatment of Brown, shit be upon Him, is laudable, but do we take it you are in favour of this insurance scam?
ReplyDeleteEx-App:
ReplyDeleteTo be honest, I do not know. I am at the limit of my knowledge of macro-economics here. I'm glad I don't have to make that call. I have to say, though, that after a
lifetime's experience of politics-watching, I would choose the instincts of the Tories and their advisers over Brown's proven-to-be-destructive "I Am Infallible" approach to, oh, almost anything, but especially economics.
(Meeting the Pope does not enable the git to share the papacy's historic claim to infallibility - whatever one makes of that. A propos, I take it you saw this?)
Whether this insurance scheme is any good or not in the cosmic scheme of things, what with public debt being literally incalculable now, my gist here is that Brown is brazenly nicking as many Tory ideas as he can, gracelessly sneering the while, as though he had a fucking clue. Which it is clear he has not, as evidenced by the insane interventions of his own conception, in the present crisis.
A knowledge of economics is not required, your common sense will do nicely. After all, those who claim expertise in this area have not exactly distinguished themselves thus far.
ReplyDeleteThe insurance scheme, as I'm sure you know, is a con, which could, if Barclays join in the fun, and they will, easily cost us £300 billion.
But I take your point about Brown's hypocrisy.
Yes, I did see the Mash, I make it an essential daily read: much more accurate than the Guardian, and nearly as entertaining.