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TheCountOfNowhere

Osborne "prepare For The Worst"

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http://news.sky.com/story/1511311/osborne-uk-must-prepare-for-worst-over-greece

"The Chancellor George Osborne has said the UK needs to prepare for the worst and protect itself after Greece went into arrears."

"we stand ready to do whatever is necessary to protect our economic security at this uncertain time.""

Why do I get the feeling another nominal house price crash is on the cards.

Might just go get myself some gold....

Or more likely...."PRINTY PRINTY"

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I have long had the impression that George has been like a man riding a one wheel bike on a tightrope.

He knows that UK finances are in a mess, more so than any of us seeing the resources he has at his disposal.

But, possibly driven by his party and the PM he has had to keep riding back and fore in the middle of the tightrope.

Greece gives him the best chance of getting to the end of the rope and safety.

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http://news.sky.com/story/1511311/osborne-uk-must-prepare-for-worst-over-greece

"The Chancellor George Osborne has said the UK needs to prepare for the worst and protect itself after Greece went into arrears."

"we stand ready to do whatever is necessary to protect our economic security at this uncertain time.""

Why do I get the feeling another nominal house price crash is on the cards.

Might just go get myself some gold....

Or more likely...."PRINTY PRINTY"

Osborne must have had a look at the latest UK manufacturing numbers. :D

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Funny how the sustained and robust recovery (in its 3rd year no less) can so quickly come off the rails by a tangential event.

He'll be mentioning Greece a lot on 8th July.

It's not a tangential event. UK does approx. 30% of it's trade with the EZ.

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QE 3, QE 4 or whatever it is we are due for ?

The trouble is history is littered with asset blow outs because Central Banks have been panicked by external invents. As if money wasn't easy enough, and some assets weren't already overblown.

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I have long had the impression that George has been like a man riding a one wheel bike on a tightrope.

He knows that UK finances are in a mess, more so than any of us seeing the resources he has at his disposal.

But, possibly driven by his party and the PM he has had to keep riding back and fore in the middle of the tightrope.

Greece gives him the best chance of getting to the end of the rope and safety.

Well I hope he ******ing hurts himself when the inevitable happens.

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Greece is not the Eurozone.

Not' but its default will affect the stability of the EZ and therefore us in a major way. Last estimate I saw was that it could cost the EZ 1 trillion. There are all sorts of knock on effects like for example the potential increase in PIIGS debt. It's a major economic event for the EZ, and because of our close economic ties to the EZ, it's a major economic event for the UK as well. That's why so much fuss is being made about it.

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It's not a tangential event. UK does approx. 30% of it's trade with the EZ.

and Greece accounts for 1.5%(and thats an optimistic figure) of Eurozone Gdp-so even on a straight multiplier its 0.45% of our trade and I doubt its that.

Tn eeconomic impact will be marginal at best-its the political impact which has then capacity to be greater-the EU is a political construct primarily with an economic dimension

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and Greece accounts for 1.5%(and thats an optimistic figure) of Eurozone Gdp-so even on a straight multiplier its 0.45% of our trade and I doubt its that.

Tn eeconomic impact will be marginal at best-its the political impact which has then capacity to be greater-the EU is a political construct primarily with an economic dimension

We're all wasting our time then. Let's move along, nothing to see here.

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Will have to continue exponentially borrowing for now to continue paying wages, promises and pensions....is productivity matched to the cost of servicing?.....are more of us now producing less individually than the increase in money we are getting producing less.....another expensive deficit to overcome? ;)

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Window dressing for his budget.

"Protect our economic security" is code for cutting welfare and handing oodles of cash to his oligarch mates.

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I have long had the impression that George has been like a man riding a one wheel bike on a tightrope.

He knows that UK finances are in a mess, more so than any of us seeing the resources he has at his disposal.

But, possibly driven by his party and the PM he has had to keep riding back and fore in the middle of the tightrope.

Greece gives him the best chance of getting to the end of the rope and safety.

I think you're giviing young Osborne too much credit. My own imagining of it is that he sits there twiddling his thumbs and preening while his special advisors do all the work and crunch the numbers, scrambling here and there. The man is the very definition of a chocolate teapot.

As much as I want Greece to revert to the drachma and for house prices to tumble here, I think the markets have already accounted for all of this - there's been plenty of warnings, unlike with Northern Rock etc.

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I think you're giviing young Osborne too much credit. My own imagining of it is that he sits there twiddling his thumbs and preening while his special advisors do all the work and crunch the numbers, scrambling here and there. The man is the very definition of a chocolate teapot.

As much as I want Greece to revert to the drachma and for house prices to tumble here, I think the markets have already accounted for all of this - there's been plenty of warnings, unlike with Northern Rock etc.

You have more faith in "the markets" than I do.

The "markets" are up for one reason and one reason only....Q.E money printing giveaway. The "markets" would be scrambling about for pennies if it wasnt for this. Forget the fact it's hammers 99% of the population, the 1% are just fine and dandy.

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