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Anyone watching Mandelson on Channel 4 news will know what I am talking about.
"We won't be at the top of the queue"
Snow pushes him - "You didn't say we won't be in the queue"
"I don't think we will be in the queue"
Honestly he didn't want to say that last bit. He was more or less forced to. Very sheepish and quiet whan he said it.
All this after Mandelson spent a good minute talking about how the stigma of going to the IMF was being reduced and it wouldn't be embarressing to go to them now. He even used examples of other countries, Mexico, that were considering using the special drawdown facility. We are being primed. Pure and simple. Just as we were for low interest rates and QE.
So what does it mean for us ? Good or bad ?
Ch 4 News - We Are Going To The Imf...
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#1
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Posted 02 April 2009 - 06:26 PM
"****** you - you carwash ****"
March 2007 - Suzy Essman.
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#2
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Posted 02 April 2009 - 06:28 PM
it will be GOOD for us in the long term. the IMF will force Brown to cut huge amounts of public spending, something he has refused to do for years
#3
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Posted 02 April 2009 - 06:28 PM
ccc, on Apr 2 2009, 07:26 PM, said:
Anyone watching Mandelson on Channel 4 news will know what I am talking about.
"We won't be at the top of the queue"
Snow pushes him - "You didn't say we won't be in the queue"
"I don't think we will be in the queue"
Honestly he didn't want to say that last bit. He was more or less forced to. Very sheepish and quiet whan he said it.
All this after Mandelson spent a good minute talking about how the stigma of going to the IMF was being reduced and it wouldn't be embarressing to go to them now. He even used examples of other countries, Mexico, that were considering using the special drawdown facility. We are being primed. Pure and simple. Just as we were for low interest rates and QE.
So what does it mean for us ? Good or bad ?
"We won't be at the top of the queue"
Snow pushes him - "You didn't say we won't be in the queue"
"I don't think we will be in the queue"
Honestly he didn't want to say that last bit. He was more or less forced to. Very sheepish and quiet whan he said it.
All this after Mandelson spent a good minute talking about how the stigma of going to the IMF was being reduced and it wouldn't be embarressing to go to them now. He even used examples of other countries, Mexico, that were considering using the special drawdown facility. We are being primed. Pure and simple. Just as we were for low interest rates and QE.
So what does it mean for us ? Good or bad ?
The overdraft facility would mean that we would go to them and no one would know or need to know .. the first you'll hear of it is after the elections that we had availed of funds from the IMF ..
Money is a claim on human labour (Now figure why house prices are where they are)
'Grand Bargain, Grand Bargain who wants my Grand Bargains ?' - The OESI, Feb 09
Interest rates can never go up .. and house prices can never go down
'Grand Bargain, Grand Bargain who wants my Grand Bargains ?' - The OESI, Feb 09
Interest rates can never go up .. and house prices can never go down
#4
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Posted 02 April 2009 - 06:28 PM
Simon Johnsen - former chief economist of the IMF: "IMF much greater resources to help Eastern Europe...
...but also some Eurozone members....Greece, Ireland, Spain, Italy....
....and the UK."
Mandelson "What we have done today is to de-stigmatise going to the IMF"
Make of that what you will.
Correlation...Labour Government/IMF bailout!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
...but also some Eurozone members....Greece, Ireland, Spain, Italy....
....and the UK."
Mandelson "What we have done today is to de-stigmatise going to the IMF"
Make of that what you will.
Correlation...Labour Government/IMF bailout!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
This post has been edited by hotairmail: 02 April 2009 - 07:35 PM
Mum makes baby with Dad
I get born
Go to school
Join the world of work
Buy house
Get married, have beautiful daughter
Work hard, save hard, pay off mortgage
Growing disbelief at house prices
Sell house, tin foil hat to smallholding
Cash everything in, I mean EVERYTHING
It goes all elephant
BoE slashes interest rates and prints money with gay abandon
I speculate and attempt to ride bubbles
We're f*cked, I really don't know where this will all end
#5
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Posted 02 April 2009 - 06:29 PM
punter, on Apr 2 2009, 07:28 PM, said:
it will be GOOD for us in the long term. the IMF will force Brown to cut huge amounts of public spending, something he has refused to do for years
Did you not notice .. the emphasis this time was to agree that 'unreasonable' conditions would not be imposed on 'poor nations' .. it wont take long to classify the UK as poor ..
Money is a claim on human labour (Now figure why house prices are where they are)
'Grand Bargain, Grand Bargain who wants my Grand Bargains ?' - The OESI, Feb 09
Interest rates can never go up .. and house prices can never go down
'Grand Bargain, Grand Bargain who wants my Grand Bargains ?' - The OESI, Feb 09
Interest rates can never go up .. and house prices can never go down
#6
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Posted 02 April 2009 - 06:30 PM
ccc, on Apr 2 2009, 07:26 PM, said:
Anyone watching Mandelson on Channel 4 news will know what I am talking about.
"We won't be at the top of the queue"
Snow pushes him - "You didn't say we won't be in the queue"
"I don't think we will be in the queue"
Honestly he didn't want to say that last bit. He was more or less forced to. Very sheepish and quiet whan he said it.
All this after Mandelson spent a good minute talking about how the stigma of going to the IMF was being reduced and it wouldn't be embarressing to go to them now. He even used examples of other countries, Mexico, that were considering using the special drawdown facility. We are being primed. Pure and simple. Just as we were for low interest rates and QE.
So what does it mean for us ? Good or bad ?
"We won't be at the top of the queue"
Snow pushes him - "You didn't say we won't be in the queue"
"I don't think we will be in the queue"
Honestly he didn't want to say that last bit. He was more or less forced to. Very sheepish and quiet whan he said it.
All this after Mandelson spent a good minute talking about how the stigma of going to the IMF was being reduced and it wouldn't be embarressing to go to them now. He even used examples of other countries, Mexico, that were considering using the special drawdown facility. We are being primed. Pure and simple. Just as we were for low interest rates and QE.
So what does it mean for us ? Good or bad ?
If you are a public sector worker, probably bad. If you have a variable rate mortgage, potentially bad in the medium term.
People take part in the ups and downs of popular feeling not only as entrepreneurs but also as savers and consumers. In the boom they confidently put their savings in the illiquid form of securities and mortgages while in the depression they hold them mistrustfully on demand deposit at the banks. It is of special significance that the bankers themselves are also subject to the psychological ebb and flow. So it is that in the boom, infected by the general ardent optimism, they loosen the reins of their credit policy, sift less strictly the demands for credit, look less fastidiously at collateral, overestimate the productivity of the credits they grant and are satisfied with less liquidity. In the depression the memory of the sins of the boom, and the " frozen credits " with which they atone for these sins, cause the banks to fix the most extreme requirements for their liquidity and to subordinate to this all other considerations.
Wilhelm Ropke 1931
In the summer of 1931 a Labour Government suddenly sagged at its knees and fell dead. High Finance had killed it as High Finance will kill the next Labour Government, and the next again............
Excerpt from The Financiers and the Nation, Thomas Johnston, 1934
Wilhelm Ropke 1931
In the summer of 1931 a Labour Government suddenly sagged at its knees and fell dead. High Finance had killed it as High Finance will kill the next Labour Government, and the next again............
Excerpt from The Financiers and the Nation, Thomas Johnston, 1934
#7
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Posted 02 April 2009 - 06:30 PM
I just saw this. What a coup for Jon Snow!
Well worth watching on Ch4+1 at about 8:15-ish. The chat with the ex-IMF guy was a real eye-opener, and I think Mandy saw a chance to soften up our eventual IMF walk of shame, by claiming these new rules would "destigmatise it". (Read: Gordon will try and hang on even after he has to go to the IMF.)
They really are throwing the kitchen sink at this one.
Well worth watching on Ch4+1 at about 8:15-ish. The chat with the ex-IMF guy was a real eye-opener, and I think Mandy saw a chance to soften up our eventual IMF walk of shame, by claiming these new rules would "destigmatise it". (Read: Gordon will try and hang on even after he has to go to the IMF.)
They really are throwing the kitchen sink at this one.
#8
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Posted 02 April 2009 - 06:31 PM
Debt = Wealth
Bankruptcy = Renewal
IMF = The Right Thing To Do
In time, you will come to love Gordon
Bankruptcy = Renewal
IMF = The Right Thing To Do
In time, you will come to love Gordon
"It's the levels, stupid!" - Mervyn King, 12th August 2009
"It's the discontractionary deflatabubbles, stupid!" - Red Karma 2009
WTIC oil will likely trade at $25-30 before it trades at $200 - Red Karma, 6th September 2009.
Stop worrying about China's $700bn reserves - Mervyn printed half that in 6 months
We need fiscal rectitude. We've got rectal fistitude
We have now entered the Great Rebalancing (Western Debt 'Jubilee') 2007-201?
Red Karma's Law "Bad debt drives out good"
"It's the discontractionary deflatabubbles, stupid!" - Red Karma 2009
WTIC oil will likely trade at $25-30 before it trades at $200 - Red Karma, 6th September 2009.
Stop worrying about China's $700bn reserves - Mervyn printed half that in 6 months
We need fiscal rectitude. We've got rectal fistitude
We have now entered the Great Rebalancing (Western Debt 'Jubilee') 2007-201?
Red Karma's Law "Bad debt drives out good"
#9
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Posted 02 April 2009 - 06:31 PM
The IMF - "Ocean Finance for governments"
"A government big enough to give you everything you want is big enough to take everything you have." --Barry Goldwater
#10
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Posted 02 April 2009 - 06:33 PM
moneyfornothing, on Apr 2 2009, 07:28 PM, said:
The overdraft facility would mean that we would go to them and no one would know or need to know .. the first you'll hear of it is after the elections that we had availed of funds from the IMF ..
Really ? It would be done in secret just like the new rules we adopted here. You got a link to this please ?
If so then how does this fit in with a new 'fair' and 'open' 'family like' World financial system.
Honestly we are all just being played for fools.
"****** you - you carwash ****"
March 2007 - Suzy Essman.
March 2007 - Suzy Essman.
#11
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Posted 02 April 2009 - 06:34 PM
Durch, on Apr 2 2009, 07:30 PM, said:
I just saw this. What a coup for Jon Snow!
Well worth watching on Ch4+1 at about 8:15-ish. The chat with the ex-IMF guy was a real eye-opener, and I think Mandy saw a chance to soften up our eventual IMF walk of shame, by claiming these new rules would "destigmatise it". (Read: Gordon will try and hang on even after he has to go to the IMF.)
They really are throwing the kitchen sink at this one.
Well worth watching on Ch4+1 at about 8:15-ish. The chat with the ex-IMF guy was a real eye-opener, and I think Mandy saw a chance to soften up our eventual IMF walk of shame, by claiming these new rules would "destigmatise it". (Read: Gordon will try and hang on even after he has to go to the IMF.)
They really are throwing the kitchen sink at this one.
Thanks.. I will get the popcorn ready in advance (whatever happened with that eating popcorn emoticon?!?)
And I tell you we have learned from past mistakes.
Just as you cannot spend your way out of recession, you cannot, in a global economy, simply spend your way through recovery either.
(Gordon Brown, Labour Party Annual Conference, 29 September 1997)
Just as you cannot spend your way out of recession, you cannot, in a global economy, simply spend your way through recovery either.
(Gordon Brown, Labour Party Annual Conference, 29 September 1997)
So, housing affordability is better than it has ever been, but no-one can take advantage of this because they can't afford the houses. I see.
cybernoid - 7th August 2010
cybernoid - 7th August 2010
Gambling promises the poor what property promises the rich - something for nothing
George Bernard Shaw
George Bernard Shaw
#12
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Posted 02 April 2009 - 06:35 PM
Yes, interesting. We just got told point blank, as a nation, that we are in dire financial shape and need some of this new IMF money...
And...
Mandy says that there is no shame in going to the IMF.
Hmmm.
And...
Gordon wants the G20 to have more financial regulation....more? Gordon wants regulation? More regulation? What?
WTF!
I yelled at my tele. Fvck me.
How does that fvcking lying ba$tard Brown get any sleep. He is a psychopath.
And...
Mandy says that there is no shame in going to the IMF.
Hmmm.
And...
Gordon wants the G20 to have more financial regulation....more? Gordon wants regulation? More regulation? What?
WTF!
I yelled at my tele. Fvck me.
How does that fvcking lying ba$tard Brown get any sleep. He is a psychopath.
Housepricecrash.co.uk
"You will never find a more wretched hive of scum and villany..." Obi-Wan
"History repeats itself, first as tragedy, second as farce." Karl Marx
"The rich, by unfair combinations, contribute frequently to prolong a season of distress among the poor." Thomas Malthus
"Elements of the past and the future combining to create something not quite as good as either." Evil Cockney Hitcher
"You will never find a more wretched hive of scum and villany..." Obi-Wan
"History repeats itself, first as tragedy, second as farce." Karl Marx
"The rich, by unfair combinations, contribute frequently to prolong a season of distress among the poor." Thomas Malthus
"Elements of the past and the future combining to create something not quite as good as either." Evil Cockney Hitcher
#13
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Posted 02 April 2009 - 06:36 PM
Durch, on Apr 2 2009, 07:30 PM, said:
I just saw this. What a coup for Jon Snow!
Well worth watching on Ch4+1 at about 8:15-ish. The chat with the ex-IMF guy was a real eye-opener, and I think Mandy saw a chance to soften up our eventual IMF walk of shame, by claiming these new rules would "destigmatise it". (Read: Gordon will try and hang on even after he has to go to the IMF.)
They really are throwing the kitchen sink at this one.
Well worth watching on Ch4+1 at about 8:15-ish. The chat with the ex-IMF guy was a real eye-opener, and I think Mandy saw a chance to soften up our eventual IMF walk of shame, by claiming these new rules would "destigmatise it". (Read: Gordon will try and hang on even after he has to go to the IMF.)
They really are throwing the kitchen sink at this one.
That was very good. He tried very hard not to mention the UK until Snow pushed him. Then a serious smirk came over his face as he admitted the truth. He looked like he knew a lot more than he was saying. I reckon we have already had discussions - and one of this guys buddies still in the IMF has told him.
"****** you - you carwash ****"
March 2007 - Suzy Essman.
March 2007 - Suzy Essman.
#14 Guest_Daddy Bear_*
Posted 02 April 2009 - 06:37 PM
libspero, on Apr 2 2009, 07:34 PM, said:
Thanks.. I will get the popcorn ready in advance (whatever happened with that eating popcorn emoticon?!?)
Do you all remember the last time we went to the IMF ?? ...Now tell me what was INFLATION running at a few years later.....errrrr....25% therabouts .......
That was a fart in the wind compared to this shit storm ..........
Massive Inflation coming in the not to distant future.....
Get yourself sorted
#15
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Posted 02 April 2009 - 06:39 PM
ccc, on Apr 2 2009, 07:33 PM, said:
Really ? It would be done in secret just like the new rules we adopted here. You got a link to this please ?
If so then how does this fit in with a new 'fair' and 'open' 'family like' World financial system.
Honestly we are all just being played for fools.
If so then how does this fit in with a new 'fair' and 'open' 'family like' World financial system.
Honestly we are all just being played for fools.
http://news.bbc.co.u...ess/7979484.stm
This would give countries essentially free money, which they could use as they wish without having to negotiate deals with the IMF, and would do much to boost confidence among poorer countries. Many of them have been critical of the harsh conditions imposed by the IMF before they are given help.
Money is a claim on human labour (Now figure why house prices are where they are)
'Grand Bargain, Grand Bargain who wants my Grand Bargains ?' - The OESI, Feb 09
Interest rates can never go up .. and house prices can never go down
'Grand Bargain, Grand Bargain who wants my Grand Bargains ?' - The OESI, Feb 09
Interest rates can never go up .. and house prices can never go down