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Captain Coma

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Everything posted by Captain Coma

  1. I don't think that's what it is. The MLR is now effectively decoupled from the cost of money in the real world. The BofE has lost control of the economy in terms of setting interest rates. It worked for a while - any single strategy will work for a little while - but while they concentrated on interest rates, the money supply grew out of control (real rate of inflation? I suggest it roughly corresponds to the rate of expansion of money supply - 12-14% per year lately, mostly bottled up but about to burst like ironical champagne). The credit crunch means there is not much cash to be had - like cucumbers at the market, "even for ready money", as Oscar Wilde put it. Things are tight and getting tighter by the day, and a rate cut won't make any difference. It will just provoke optimism, and that will make the situation even worse. It will cause the "little people" to lose more money by buying shares and things like that, thinking they'll go up, while the big boys use the smokescreen to close their positions and get out. Let the BofE cut by 1%. Mortgage rates won't go down. They might even go up.
  2. All true, but in business and life this is only to be expected. The vitally important thing is that they now appeared to have turned. That is absolutely, utterly key information. The CBI is now saying that the accommodation with New Labour is over. These are ruthless money men (and women). They don't muck around with this sort of thing. They have ridden the gravy train happily and perhaps hypocritically (they don't care, of course, and we should not expect them to), and that is all normal. But if this new development is their considered conclusion, and if they are serious, then the toleration of New Labour is over, and New Labour, inevitably, is on the way out. Just business, nothing personal.
  3. What are they, prison cells? Oh, of course not, you can smoke in prison.
  4. Declan! Anybody fancy having a go at tearing him a second you-know-what? Make sure it's live, or you'll never see the result.
  5. Jackals (I should know; worked for them enough times). OK, which department, which strand, which commissioning editor, which producer, which indie (if there is one) and what's the budget? (Info not for me because I won't take part but everybody else should be aware.)
  6. To paraphrase Churchill in 1940 (comparing the Italians' entrance into the war in Europe to their performance in World War One): Do you think this labour administration is as good as the last one, or has there been a bit of a falling off since Callaghan's government? ... If you think 1979 was bad, wait until 2009. New Labour: "If it doesn't need fixing, we'll break it."
  7. As I posted on a different thread yesterday (heard it on Radio Five Live), the higher your HIP rating - and so the more energy efficient your home is - the higher your council tax will be. I guess because it raises the value of your property. It's the law of unintended consequences in action. But the government is crazed and suicidal, isn't it, to enforce this utter madness?
  8. It wouldn't surprise me if Darling actually did that - or would he be able to? Is he allowed to simply walk away from this horlicks, even if it wasn't all his fault? Can Brenda force him to stay in office? And is today the day we see Applecart led away in handcuffs?
  9. Promise I'll do my best. Until my nails bleed! Ahoy hoy
  10. Easy, soldier. Let's make sure Labour are in power long enough to be convicted of their crimes. We don't want them out before the worst, so that they can blame the Tories for what is about to happen. If we want to make sure Labour is absolutely annihilated and written out of future history, we must all work hard to ensure that they stay in government for the next 18 months. I know it's galling but it's worth it in the long run. Courage, mon brave!
  11. We used to call them "coffin nails". Ain't language wonderful!
  12. Here ye go: http://www.guardian.co.uk/business/2007/no...englandgovernor
  13. "death nail": that's a fantastic synthesis of "death knell" and "nail [in the coffin]". Genius. Do I have your permission to use it?
  14. GOM, I think you misread. Buyer was warned by somebody who teaches economics not to buy. Edit: acronym!
  15. Can this be true? I just heard on Radio 5 Live that the higher your HIPS rating (the more energy efficient your home, in other words), the higher your council tax will be! I repeat, watch the Labour government commit suicide. Chimpanzee has barrel of revolver in mouth, is holding the grip in an awkward way, peering at strange hammer thing on top of gun ... Seriously, once the mortgage resets hit, doing away with all people's spare cash, and then the credit crunch means they can't borrow any more, they won't even be able to afford to put the house on the market when they are forced to sell. And there'll be no buyers either, in a falling market. I can see hundreds of thousands of repossessed properties heading auction-ward. Ahoy-hoy
  16. The Labour government has decided to commit suicide. Sit back and enjoy the spectacle. I always thought that Labour getting rid of Blair was akin to handing a chimpanzee a loaded revolver to play with. Bang.
  17. Absolutely agree. But they didn't do that, did they. No place for free choice in their vision of society.
  18. Since the onset of the smoking ban, the effect on pubs has been absolutely catastrophic - but don't expect to hear about it from either the media or the brewers. Just from personal experience, my circle of friends has almost given up pub-going altogether, even the non-smokers. Now we almost always tend to foregather at each other's homes instead. None of the non-smokers finds it any fun to go out when: a) their smoking friends are disinclined to join them their smoking friends are out in the beer garden in protest (affects which pubs are visited, and winter will have a further effect) c) the atmosphere has evaporated and the emptiness of the venue is a dampener on a previously sociable and emollient experience d) there is the ongoing insult of bossy notices everywhere and a sense that politicians and bureaucrats are looking over your shoulder and checking on you in your private life. I find absolutely no sympathy for the brewers, who went along with the purse-mouthed sociologists-gone-mad of the Labour government who pushed the measure through. The pubs essentially stabbed in the back the bread-and-butter punters of their trade: the pint-suppers and smokers and their friends, who are now gone or who sullenly down a pint and leave much sooner than before. The brewers, of course, after their pusillanimous collapse before left-wing authoritarianism, planned to make up the revenue short-fall by selling more food to families, further destroying the character of the traditional pub by morphing it into a cross between a Macdonalds and a kindergarten. The stupidity of this tactic will be revealed, if it is not already, when the elastic nature of discretionary spending is made plain in the coming economic downturn. Meanwhile, because they chose not to question the egregious charlatanry of the government's scientific evidence, the pubs are now at the mercy of the custom of all the militant non-smokers (not one of my non-smoking friends among them), who are expected to make up the shortfall of bodies at the bar, and who of course will never do so. The last laugh is on the brewers (and I guess on Labour at the next election), because they had another plan to flog off pub premises for the building values in a rising market after the core business inevitably fell away. That's not looking very plausible now, and I would short the brewers like mad if I had the funds. Another bit of England tossed away by this bunch of crooks and incompetents, and a little more of the characteristic civility and tolerance of British life spat on and ground into the dirt. It feels as if the country is under siege from these ban-happy maniacs. Not to mention another erosion of the free market. But perhaps the market will win: when the recession hits, those awful coward brewers will be hammering on the door of No.10 to demand the right to declare smoking discretionary, or risk the industry collapsing. Then the science might be suddenly "re-evaluated", wait and see.
  19. What are the odds Gordon Brown won't be in the chamber for Darling's statement this afternoon? If he doesn't turn up, is there any chance that opposition MPs could raise a chant of "Where's the PM?" and refuse to stop until he appears?
  20. What's so special about NR? Well, BCCI was a mountain of fraud, and its depositors lost out; Barings was sunk by a rogue trader, and its investors lost out. NR was doing what all the banks have been doing, but doing it just a little more extremely. If NR went under, all the banks might go under. The thinking is that if we save NR we save the system - not remotely the case with BCCI or Barings. Of course, "saving" NR only delays and makes worse the inevitable of which NR is the fatal symptom. Ahoy hoy
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