Abandon All Fear

What nobody else seems to be saying…

Posts Tagged ‘recession’

[Intriguing] Blunkett’s Guidedog?

Posted by Lex Fear on February 23, 2009

That’s my first guess at what has caused his near U-turn on ID cards:

David Blunkett, who as Home Secretary led the government’s push for compulsory ID cards, will tomorrow call for the scheme to be curtailed, according to a report.

Instead he will propose that only foreigners be made to hold an ID card. UK nationals should only be required to hold a passport, Blunkett will argue.

For those not in the know, whilst Blunkett was in public office, flogging ID Cards and all manner of Orwellian devices to use on us, the British public, he received a nice directorship with Entrust, the company who created Spains ID card system and lobbied for the contract for the British one.

I’m sure there was no link between Blunketts cushty new job and his policy towards ID cards at the time.

A glance at the news show Entrust doing reasonably well profits wise during the recession, so what has caused Blunkett to shift his stance?

Worth watching this one, lack of sight has caused Blunketts nose to develop a keen sense of smell for money and influence.

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Posted in Absolute Power, Anti-Terrorists, Bad Company, Bollotics, Databases, Dorks, Doublespeak, Financial Terrorism, Minitruth, Pharisees, Predatory Systems, Profiteering, Uncircumcised Philistines, Untouchables, Wealth Creation, Xenophobia | Tagged: , , , , , , , , , , | Leave a Comment »

[Economic Meltdown] Flash… Aah Aah He’ll Screw Everyone Of Us

Posted by Lex Fear on February 4, 2009

Overheard at a desk in a major investment bank today:

“This MP basically said that they’re creating an inflationary environment… 15% interest rates, not this year, but over the next 3 years”

Make of it what you will, personally it tells me that everyone in the know is aware of what is coming next and what is needed, but for some reason Flash Gordon and Alistair Darling are out of the loop or didn’t get the memo. It’s also becoming clear that Flash is intending to pull a Zimbabwe and start printing money (he calls this “quantitative easing” – which is another fancy financial bullshit term for printing money).

You see there is only two ways out of a recession, inflation or raising interest rates. You should know what happens when the government uses inflation, it’s been done before by the Weimar Republic and more recently Zanu-PF.

But what about the other tool, interest rates? Well, you see, this would cause millions of feckless, leveraged, mewing borrowers to realise the difference between debt and wealth – can’t have that, or can we?

The fact is we’re dangerously close to the edge of falling into hyperinflation and while its difficult to predict how disastrous this would be we do know that fixed loans would be eroded away, but so would the value of GBP, the value of any savings and investments too (you know, the things used to fund borrowing) – basically our ecomony would become worthless and most likely we’d all end up informally adopting the Euro.

So why does Flash want to print money? There can only be one of three conclusions, either he…

  • Has lost all sense of reality, delusional, thinking he is the saviour of the world
  • Is incompetent. He has no clue what he is doing, no clue how to manage an economy and has sat on top of the biggest economic bubble in the history of the world, taking credit for something he had no part in. Or…
  • Has engineered this, in part, on purpose. The most far reaching conclusion however I can’t help but wonder if he was hoping for a bust sooner, so that it would damage Bliar (and oust him out of office), or even, guessing (or feeling) he will lose an election soon, hoping to pass the bubble on to the Tories just before it burst (securing a short term for them, allowing him to be elected back into power at the next election). Far reaching but not inconceivable – considering all the warnings he has ignored over the 10 years he was Chancellor.

Whatever the reasons for his contempt of savers, the UK economy and the poor, all his actions are delaying the inevitable (and making it worse)… depression and potentially more civil unrest.

Posted in Absolute Power, Bank Robbers, Bollotics, Doublethink, Financial Terrorism, Minitruth, Pharisees, Uncircumcised Philistines, Wealth Creation, WhatTheyDontWantU2C | Tagged: , , , , , , , , , , , , , , | 5 Comments »

[Burst Bubble] You Can’t Halt The Tide

Posted by Lex Fear on March 4, 2007

Is this the beginning of the downturn in the cycle?

1st rule of investing:
Buy low, sell high.

Posted in Bank Robbers, Buyer Beware, Financial Terrorism, Profiteering, Property Market, Uncircumcised Philistines, Wealth Creation | Tagged: , , , , , , , , | Leave a Comment »