The Great International Depression of 2008 & Beyond /

One dude on Bloomberg - James Nixon ? - totally smirking (jesus the music on Bloomberg this morning is very eerie) when asked about Ireland's fiscal problems ... " 'Growth and Stability Pact' what 'Growth and Stability Pact'?" says he. He's chuckling or nearly scoffing at our emergency budget too. I'm not patriotic but I hope the lad gets so sick of the Queen's Head by Christmas that he'll wish he was back in the Weimar Republic.

It sounds like they are a bit chuffed with themselves but are they sure it'll work eh ? Remember this boys :


Funf hundert tausand millionen quadrillionen squillionen Weimar Mark fur ein paketen von shpaghettis..

My favourite hyperinflation photographs have always been the ones of the guys with wheelbarrows full of cash.

I guess the other concern is... what if it works and the ECB doesn't follow suit. Presumably, so much funny money has been washed down the bad debt plughole that they might not actually be increasing the money supply back up to what it used to be pre Aug 07. I know they are going to start with government bonds (more cash in Brown's pocket), but presumably then either Brown and co have more money to bail out/recap the banks, which means the banks will have more money. Does this mean that the likes of Halifax/BoSI and Ulster will be ploughing some of these ill gotten gains into our economy?? What happens if a recovering UK (possibly on the way to hyperinflation but I now think this might take a good while) suddenly notices that all our property etc looks incredibly affordable

I also wonder if there's some sort of plan in the UK wrt to Ireland?? I have a horrible suspicion that both Gordon and Angela would just lurrve to see the rear end of our low corpo tax....come to think of it, perhaps Barack as well. Are there some people out there deliberately talking us down??

I'd expect to see a bunfight over Lisbon too. The eurozone wants us in, the UK and US would prefer us out....and that would be one sure way to devalue the Euro, if you were in the mood for a spot of currency manoeverings

expat girl wrote:

I guess the other concern is... what if it works and the ECB doesn't follow suit. Presumably, so much funny money has been washed down the bad debt plughole that they might not actually be increasing the money supply back up to what it used to be pre Aug 07. I know they are going to start with government bonds (more cash in Brown's pocket), but presumably then either Brown and co have more money to bail out/recap the banks, which means the banks will have more money. Does this mean that the likes of Halifax/BoSI and Ulster will be ploughing some of these ill gotten gains into our economy?? What happens if a recovering UK (possibly on the way to hyperinflation but I now think this might take a good while) suddenly notices that all our property etc looks incredibly affordable

I also wonder if there's some sort of plan in the UK wrt to Ireland?? I have a horrible suspicion that both Gordon and Angela would just lurrve to see the rear end of our low corpo tax....come to think of it, perhaps Barack as well. Are there some people out there deliberately talking us down??

I'd expect to see a bunfight over Lisbon too. The eurozone wants us in, the UK and US would prefer us out....and that would be one sure way to devalue the Euro, if you were in the mood for a spot of currency manoeverings

I think they were sniggering a bit over this too - that the ECB was constantly "behind the curve" and always catching up with the rest of the place. They'll be laughing even more if the ECB start to do it too eventually which they're denying they'll do so far. They're convinced it's not the way to go. It'll be interesting to see how the ECB and BOE zones operate alongside each other now with this going on ...

£75 billion is a fair whack of cash. Two aircraft carriers alone will cost the UK 4bn so for 75bn they could get nearly 40 HMS Queens Elizabeth and Princes of Wales

Question is when they'll know when to stop printing though ....

D'yall remember when the HSS ferry banged into the side of the American's aircraft carrier when it came to Dun Laoghaire? That was gas.

Yesterday Karl Denninger posted a message on his blog which probably should go in the Tea Leaves thread as it's a broad prediction. It's a bit over-destructive a conclusion though and usually tea leaf predictions mean there is a cup left for the next prediction - in this one there's not

Apparently Denninger saw something nasty in the markets yesterday and now it's just a matter of time unless something radical gets done.

Economic Horror P0rn at its best. Video below by vlogger who created the vid using Great Depression I footage (great shots of NY back then) and Denninger's foreboding text.



Read it here.
http://market-ticker.denninger.net/archives/852-Whats-Dead-Short-Answer-All-Of-It.html



Watch it here