Saturday, April 26, 2008

Maybe Gordon will bail this pension out? Another 1 trillion of cheap money!!!

Petrol Panic Fear As Oil Refinery Shuts

"People should accept that they will probably be rationed to an amount of petrol to conserve supplies.

Posted by mark @ 02:41 PM (627 views)
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3 thoughts on “Maybe Gordon will bail this pension out? Another 1 trillion of cheap money!!!

  • It’s strange how noone from the ‘Medja’ (on final salary pensions) accuses noone from the political classes (all on final salary pensions) of being hypocritical for criticising the oil workers for fighting for new entrants into an increasingly lucrative business to get a final salary pension.


    What a shitty toilet of a country we live in – I hope it grinds to a complete halt and gets flushed down the toilet!

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  • This is what the Brits are best at – Panicking !! .

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  • mark wadsworth says:

    All free-markets are based on the most elegant form of rationing – price rationing. If resources are limited, then prices rise. If resources are plenty, then prices fall.

    Returning to the theme of this website, society as a whole has decided that land available for housing should be restricted (aka ‘NIMBYism’). One way to ‘ration’ this is on a ‘first come first served’ basis, which means that new entrants to the market pay ever higher prices, (while the existing owners sit on ever larger paper gains) which leads to an asset price bubble, leads to a credit bubble etc etc.

    Or, given that society wishes to restrict the amount of land and housing be severely restricted, we could use price rationing for existing homeowners as well as new entrants – it’s called Land Value Tax aka Property Bubble Tax.

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