Wednesday, Dec 10, 2008
Arm those presses!
Bloomberg: U.K. May Expand Toolkit to Halt Recession Slide
The U.K. government and the Bank of England are considering plans to pump billions of pounds into the economy as the bank rescue package and the lowest interest rates since 1951 fail to halt a slide into recession.
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The comments are the clearest sign yet that he is frustrated that banks are rationing credit even after a 50 billion pound ($74 billion) program to rescue HBOS Plc, Royal Bank of Scotland Group Plc and Lloyds TSB Group Plc.
Posted by 51ck-6-51x @ 04:06 PM (725 views) Add Comment
10 Comments
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1. 51ck-6-51x said...
All I kept seeing on the Bloomberg T.V. were the headlines:
Darling: Devaluing Sterling will help exporters
- well no sh!t Sherlock, but the UK is a net importer, and without export of financial services...
Darling: We must risk economy to spur growth
- huh?! Is this a typo on Bloomberg's behalf or did this phrase actually escape Alistair's lips?
2. uncle chris said...
When are the government going to accept the inevitable and that recessions are a necessary evil to clear away the deadwood. Can they not see that the tide is heading in and that it's already up to their waists! Just batten down the hatches and let the recession take it's course.
3. 51ck-6-51x said...
uncle chris - Recessions are not evil (as you suggest I think). Depressions are evil. Some of the best innovations in history and strongest companies were borne out of recessions.
4. mark said...
yeh a penknife, matches and piece of string should do it, after all the A-team could make a whole armed forces from a garden shed...
5. paul said...
Here comes Euro parity, spurred on by promises to print money to lift the government out of its debts.
6. harold said...
Helicopter money is on the way in Britain.
7. eyeoftheweasel said...
Why is it that whenever I think through everything this government is trying to do to get us out of this recession, the more it seems that what they're doing is only going to make the recession longer and deeper?
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