Monday, Nov 24, 2008
Wish we had the luxury to wait - in January we won't have an ecomomy
Guardian: Germany rules out tax cuts to boost economy
They think its all over, it is now !!!!!! - for the UK that is
Posted by matt_the_hat @ 02:14 PM (462 views) Add Comment
5 Comments
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1. bystander said...
Is this why to pound's taken another kicking from the eurozone??? Couldn't believe Hugh Pym talking sh*te this morning on the BBC, saying that the pound rose after the 1.5% drop in rates by the MPC, completely ignoring the fact that almost immediately it lost a further 10 euro cents against euroland. Spin is all Brown Broadcasting Corporation are any good at. The sheeple watching will actually be really happy if the MPC drop rates further as thy do not see the correlation between a plummeting sterling and lower rates, that is until deflation is replaced with hyperinflation, which the US won't suffer from as they export more than they import, whereas the UK imports much more than it exports and the cost of everything is about to go sky high, but not before GB GETS HIMSELF RE-ELECTED I FEAR.
2. doom&gloom said...
Delicious uber-bear sentiments... love it :-) And only 29 minutes until Darling takes to the airwaves and puts another dagger into the heart of the UK economy...
I just bought into physical gold in an attempt to hedge against what I think is about to happen to sterling...
3. jamonit said...
About to happen when D&G? It ain't happening at the moment. [woops?]
4. planning4acrash said...
Eventually they will have to cut taxes, or they will destroy enough of the economy to have no income for them to have no tax revenue. Make no mistake, in the long term, we are on a race to the bottom with taxes, and governments are literally imploding. Their reliance on fiat is increasing, as fiat currencies explode. Their only opportunity eventually will be massive devaluation of fiat, use of gold to pay off all the debt that isn't written off. Of course, it would be much better if debt was written off by the free market via bankruptcy, but I guess that we live in a Keynesian world now.
5. greytornado said...
Doom&Gloom is right - now is the time to buy gold in my opinion. Don't buy paper gold - buy sovereigns or similar. Price of sovereigns has shot up later today - it will cost £138 to buy a bullion grade sovereign, but you ain't seen nothing yet........................................