The sh*tstorm commeth

[LOG]

What's the score with Japan at the moment? Last time i spoke to someone who knows about this kind of thing was soon after the tsunami and nuclear mishap and he said that they were waiting to see what the fallout was, no pun intended, before making a decision on investment.

 

[Oli]

How.does this help rehypothocation? Higher repo rates I guess.

As mentioned thia was widely expected so already priced in. AAA to AA isn't much of a move other than a dent in pride. UK keeps theirs despite having worse debt, mainly due to being able to act with autonomy, ie the chancellor can pretty much do what he likes. Unlike in the USA.

 

[IndoMike]

Seeing as it was Britain that instigated the creation of the IMF, it'd be a bit rich if we pushed back on this one. So yes, interesting to see how he handles this one.

The craziness of it for me, is when you compare the poverty of many third world countries against the amount of SUVs being driven around Ireland (around 4 years ago any way). The Eurozone doesn't deserve a bailout. It deserves years of hardship.

I agree a zillion per cent with your last comment.

 

[elginCity]

The Labour government's splendid incompetence relied on an economic model which required people to borrow money they didn't have to buy stuff they didn't need - Balls for Chancellor anyone?.

Balls now endorsing the Coalition's public pay freeze...new jobs before pay rises, is his reasoning.

Balls would freeze public sector pay, not to tackle the national debt crisis, but to create more paper shufflers.

Balls for Chancellor, anyone?

 

[Alistair20000]

Balls for Chancellor, anyone?

Don't rule it out and be very afraid.

Despite polling only 29% in 2010 Labour are still in the game.

 

[Mr Jinx]

Despite polling only 29% in 2010 Labour are still in the game.

Not if Scotland gets full independence. And not if/when boundary changes go ahead. But that said, as things stand, yes they are still in the game...and Ed Balls could have his hands on the tiller in 3 and a bit years. Be afraid folks. Be very afraid.

 

[elginCity]

as things stand, yes they are still in the game...

They'll have to jettison young Miliband though.

The shafting of big bro is indelibly etched in the minds of the great British public, they won't easily forgive or forget, come the day.

 

[Alistair20000]

Not if Scotland gets full independence. And not if/when boundary changes go ahead. But that said, as things stand, yes they are still in the game...and Ed Balls could have his hands on the tiller in 3 and a bit years. Be afraid folks. Be very afraid.

Even if they vote yes I cannot see Jockland independent in time for the 2015 election Jinxy. Not sure where we are with the boundary changes, but do they make that big a difference ?

 

[Alistair20000]

They'll have to jettison young Miliband though.

The shafting of big bro is indelibly etched in the minds of the great British public, they won't easily forgive or forget, come the day.

Labour has a poor record of knifing its lame duck leaders. Compare that with the Tories.

 

[Mr Jinx]

The shafting of big bro is indelibly etched in the minds of the great British public, they won't easily forgive or forget, come the day.

I don't think the British public give two hoots about the manner in which he became leader. What they care about is him. And he is a gonk.

But even if they had an orangutan as leader, the way things are currently stacked, Labour still stands a chance. The LibDem vote will collapse and most of those votes will go back to Labour. The Tories barely have any seats outside of England and that is set to remain the case. The Boundary changes may give the Tories 10 more seats over Labour but that still might not be enough to lock Labour out altogether. If the coalition don't swing the economy around within 3 years (which is looking increasingly likely) they could be toast. The Tories can only but hope that the rEd/Balls ticket remains in place until the next election.