DOOMED: External investors have no confidence in Britain

[ace00]

Didn't take long did it

“The notion that Brown is leading us to the promised land is laughable,” said Ruth Lea, economic adviser to the Arbuthnot Banking Group Plc in Solihull, England. “He cannot get to grips with how other people see this country now, as the sick man of Europe.”

I wonder what effect it will have on Sterling, as it indicates a need to raise interest rates?

[Cyberman]

It's OK they can always increase taxation some more - we're only at 40% so there's plenty more capacity before it hits 100%

.. but as you reduce disposable income and thus consumer spending power you drive the country further into recession.

[ThomasSoerensen]

.. but as you reduce disposable income and thus consumer spending power you drive the country further into recession.

making people depend on state handouts of bread and soup

the plan is coming together nicely

[Cyberman]

Maybe Mervyn is basically a decent chappy with some integrity who wants to prevent the UK overstretching itself and going bust. Maybe he's a little late with his warnings, but perhaps he's trying to take some responsibility where he sees that the government are planning something reckless.

Merv was the clever guy who refused to help Northern Rock with a loan due to 'moral hazard' and thus drove it towards the first bank run in living memory. Now he lends to all and sundry regardless of debt levels. He may be a decent chappy but does not have more of a clue than clown Brown.

[bobhope]

Merv was the clever guy who refused to help Northern Rock with a loan due to 'moral hazard' and thus drove it towards the first bank run in living memory. Now he lends to all and sundry regardless of debt levels. He may be a decent chappy but does not have more of a clue than clown Brown.

I was inadvertently reminded of you yesterday when I was thinking about some of the stupid .com shares I owned (still own maybe?) - lastminute, petstore.com, etc.

I was thinking "I DESERVE A BAILOUT TOO" for buying shares in businesses that didn't make any money and / or are bankrupt.

[Doggy Styles]

Since Brown took responsibility for monitoring and supervising banks away from the BoE, the BoE have done the politically correct thing and let him get on with it.

But Mervyn King has quite reasonably decided he can no longer stand idly by and watch that loser at number 10 perpetuate one f**k-up after another, making King's job harder and harder by the week.

Perhaps the Bank of England met with the monarchy because they share something in common - ultimately the nation comes before the sensitivities of a disastrous political party.

[expat]

King strikes me as one of the old-school, essentially decent, blokes. No wonder he doesn't like this bunch of numpties.

You really think that "old-school" establishment types are essentially decent?

[Cyberman]

Since Brown took responsibility for monitoring and supervising banks away from the BoE, the BoE have done the politically correct thing and let him get on with it.

But Mervyn King has quite reasonably decided he can no longer stand idly by and watch that loser at number 10 perpetuate one f**k-up after another, making King's job harder and harder by the week.

Perhaps the Bank of England met with the monarchy because they share something in common - ultimately the nation comes before the sensitivities of a disastrous political party.

... and there was me thinking that the BofE was independent !!

[sasguru]

You really think that "old-school" establishment types are essentially decent?

By which I meant they would put the country above their own selfish motives. I'm sure their selfish motives would come a close second.