Wednesday, Feb 20, 2008
The best contrarian indicator of all: the Labour government
MoneyWeek: The best contrarian indicator of all: the Labour government
The Labour government is fast becoming one of the great contrarian indicators in the history of markets. After selling gold at the bottom of the market, they buy an insolvent mortgage lender at the top of the housing market. Are they really this incompetent?
Posted by damien @ 11:53 AM (892 views) Add Comment
19 Comments
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1. waitingfor hpc said...
YES!
2. japanese uncle said...
After selling gold at the bottom of the market
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It's not that they are contrarian, but they are just traitors to the nation. They sold national assets to their real masters, private financiers at the bottom price, just as they have been doing in the name of those rotten PFIs. It's as straightfoward as that. High treason may constitute hanging.
3. The Haunted said...
Hell Yeah!
4. mark wadsworth said...
Yes. Don't forget that the gummint got that Steve Nickells stooge to say, last summer, right at the peak of the housing boom, that prices would inevitably rise to 11 times earnings, and that as a result the gummint would have to start building houses and indulging in crap like shared-ownership, heavens only knows how much they've spent and what sort of losses the taxpayer will suffer.
5. hpwatcher said...
It is a house of fools...the only think they really care about is their public image.
6. Plato said...
Without Qestion.
7. japanese uncle said...
I mean they were perfectly aware that the gold was hitting the bottom. I am not talking about Crash Gordon, but his real masters who purchased gold at the bottom, as they were in the position to manipulate the market.
8. hpwatcher said...
''I mean they were perfectly aware that the gold was hitting the bottom. I am not talking about Crash Gordon, but his real masters who purchased gold at the bottom, as they were in the position to manipulate the market.''
What was the lyric in that 70's song by Jilted John?
9. alan said...
This line in the article describes the government....
"They’re a bit like a really badly run hedge fund. The fees they charge are extortionate, the performance they deliver is woeful, and investors can’t get their money out".
My question.....What's the next shoe to fall?
10. handle_it said...
I'm so disillusioned with politics. I used to be naive and think it made a difference. I'm not sure it's a conspiracy as such. I just think the super elite have more power now than ever. Their influence is hard to resist. I was a carrying card member of the "old" labour party. In my opinion there will be another peoples revolution. They have all the gold but not our hearts and minds.
11. Weathly Vagrant said...
You have to seriously question the judgement of anybody who thinks having big jet black eyebrows and pure white hair is a good look.
We shouldn't expect anything more.
12. wiltshire said...
I think things will change. It must be coming apparent to more and more people on a daily basis that we've been sold up the river by Labour. We've been told we're all much better off but it becomes increasingly obvious that is not the case and I think once the scales fall from the people's eyes there's going to be trouble (of one sort or another). Technically I am a born and bred Labour supporter but this isn't a real Labour government. I'm not sure what it is, maybe it's just government (as in, whoever you vote for the government wins). Anyway, governments get away with things all the time but at some point people will try and re-address the balance.
P.S. Just incase anyone isn't sure about the answer to hpwatcher's Jilted John question, the chorus of his hit in the 70s was "Gordon Is A Moron, Gordon Is A Moron......."
13. Urbanbear said...
This is what happens when we allow the inexperienced bunch of greed incompetents, with little or no experience of real life, called the Political Class, to 'govern' the UK.
If we want to save this country, we must ensure that only competent people are allowed to govern i.e. they must have gain years of relevant experience in a non-Political Class job before entering politics.
14. Mikeymike said...
I believe Labour are out to be evicted, after all Labour Party wasn't designed to actually be in power.
They made no attempt to win in the 80s. Kinnock fell over on purpose during 87 election to lower Labours poll rating.
Might seem silly but loads of evidence points to it, blunder after blunder will see us unpopoular is what they are really thinking.
After all would you let the unions run richard branson empire? NO then why let the dimwits run gov't
15. happyrenter said...
@11 - do you think he's been badgered by his boss? The moron who isn't even 'cool and trendy' (ok too much Jilted John...)
The sooner 2 particular Downing Street addresses re-appear in the house move stats the better
16. Happy Mondays said...
Fidel Castro is looking for a new job!
17. shipbuilder said...
Wiltshire, spot on. It can't be pointed out enough that this isn't a real Labour government. What I mean is that expecting the Torys to be any better would be a big mistake. This is a failure of right-wing economic policy, a failure of media-led policy making, a failure of individualistic society, a failure of democracy, as well as the failure and utter incompetance of the current government. I challenge anyone to claim that a Tory chancellor would not have cut interest rates, pumped-up the housing market, encouraged debt, decimated industry (they already did) and pandered to the financial sector in the climate of the last 10 years.
Calling it a Labour issue is taking our eye off the ball.
18. hpwatcher said...
Blair was a hell of a lot more right wing than Edward Heath, go figure.....
19. Paranoia Blue said...
Reading an interesting book just now: Gordon is a Moron by Vernon Coleman