And in my second flagrant rip of the day from Lord Patel I refer to his post on the effective nationalisation of a certain financial institution entitled 'Northern Rock ... Apocalypse (almost) Now'
and whilst I approve wholeheartedly of his chosen Wagnerian soundtrack for the unfolding spectacle, personally I'm veering more towards Led Zeppelin, specifically...
"Cryin' won't help you, prayin' won't do you no good,
Now, cryin' won't help you, prayin' won't do you no good,
When the levee breaks, mama, you got to move
All last night sat on the levee and moaned,
Thinkin' about me baby and my happy home.
Going, going to Chicago... Going to Chicago... Sorry but I can't take you...
Going down...
going down now...
going down....
Still, look on the bright side, a lot less people are going to be worried about Inheritance Tax thresholds next year
.
10 comments:
I find these logarithmic scales always a bit odd...
For some inexplicable reason, they're very popular when shares prices are falling
Sweet Jesus:
The government's aid package for the bank now amounts to about £57bn.
http://news.bbc.co.uk/
2/hi/business/7149405.stm
I heard that amount is almost 2 YEARS TOTAL budget for primary schools !!!
This Northern Rock thing is extremely strange. Are Neu-arbeit really this ignorant? Who are the beneficiaries?
I need to update one of my last posts to this...
Sweet Jesus Mary and Joseph!!!
"We learned yesterday that the British government's guarantee to
bail out the creditors of Northern Rock Bank is worth a staggering
£100 billion."
/truncated
that was an email from bullion.com dated 21/12/07.
Is it really tits up time?
Check out Al Jazeera's (English) latest program called "Death of the Dollar 2" You could tell Max Kleiser (a.k.a. Duck-man a term of endearment, don't worry) was enjoying making that program.
It featured Paul Craig Roberts, a highly respected political writer whose articles frequently appear on ICH.
http://tinyurl.com/yud89g
Happy Christmas.
BBC Video headline on the LHS: "Americans $14 trillion in the red"
In centre column in same section...
Goldman Sachs' profits soar
chin rubbing hummmmmmmmmmmm
weirdly the USD has made a 3.5% improvement against the £ in the last week. Has another bubble been found?
Cue in Wagner:
Staring into the Abyss
The Collapse Of The Modern Day Banking System
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