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..There's a little Samuel Pepys in all of us..

Friday, January 23, 2009

It's finally official.. After months of waffling and faffing about, Britain has declared itself officially 'in recession'..
Considering that we've been watching unemployment rise exponentially.. house prices initially rising at a ridiculous rate only to be followed by record reposessions.. the collapse of the Pound Sterling.. the rising costs of basic foodstuffs at the grocery stores coupled with staggering fuel prices..
It takes a fair amount of credibility away from both the government, for it's spending policies and the lack of financial transparentcy.. from the banks, for what would outwardly appear as misuse of all the taxpayer money used to bail them out.. and for the financial analytical community itself for withholding what was blatently obvious, seemingly to toe the government line..
One third of the British workforce is idle.. on the dole..
Last quarter saw a 92% rise in house reposessions over the quarter before..
And we're still sliding..
We are stepping up on government borrowing.. extending the mortgage we'll pass along to our children..
And growing ever closer to a 'New World Order', so to speak.
'A global crisis..' says Gordon..
More later on the plans Barak has for his United States..

There is so much worldwide expectation on the magical powers of the first African American President.. that is frankly risible..
Barak's expected to haul a sinking boat through water deeper than he is tall, and one has to wonder how long it will be before the ecstacy of the honeymoon is replaced by the agony of a self-indulgent population..
His first moves maintained his image of being able to deal quickly with campaign promises.. Gitmo closing and a Directive against the treatment of those accused of terrorist links.. But that's easy.. a simple left-handed signature that brings toan end something which is fundamentally 'non-American' behavior..
But where is the Executive Order to compel those banks and multinationals who recieved what's getting close to a trillion dollars in bailouts..paid for out of the public pocket. being released to small business?
When will the financial infrastructure be bent back into shape?
To date, it appears the banks themselves have been shuffling those funds around within their own particular and peculiar Circle, which, at least on paper, keeps them in profit.. Not much has filtered down to small business and even less towards the individual..
Barak's not going to save the world. He's as bewildered as the next man on what pill will need to be taken by America that the public won't spit up. And, has been repeaed ad nausium by the media..'so goes America, so goes Britain.'
In fact, so goes the world..
We'll discuss Barak's foreign policy decisions.. or Joe Biden's..the next time perhaps..

%5 drop in GNP..c'mon, basic economics..what's it spell?
Latvia's projecting a %7 drop during '09, and is tied to the Euro..
The Euro's so vastly over valued it's amazing..
It's going to be interesting..

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