Wednesday, 23 September 2009

Better late than never

The MPC has twigged that Gordon's Green Shoots (TM) are just a flash in the pan:

Minutes of the MPC’s September meeting highlighted rising unemployment, weak domestic demand, banks’ balance sheets, weak bank lending, high levels of public debt and global imbalances as factors which threaten recovery.

“There had been some promising indications from asset markets,” the MPC noted in the minutes, “but the lesson from previous financial crises was that they were not resolved quickly, and that there could be false dawns.”

The committee voted 9-0 in favour of leaving interest rates on hold at 0.5pc and its quantitative easing (QE) target unchanged at £175bn. Sterling rose against both the euro and the dollar after the minutes were published.

The unanimous vote was in contrast to the September meeting of the MPC, when Mervyn King, the governor, along with two other colleagues voted in favour of extending QE by £75bn to £200bn. They were outvoted by a majority of six who preferred a smaller £50bn extension to £175bn.

I have long been of the opinion that we're heading into a lovely double-dip recession thanks entirely to the snot-munching fucktard and his delusions of adequacy. It doesn't matter who wins the next election, we are so utterly cunted it's going to take a fucking decade to pick up the pieces.

If we're lucky.


Warsteiner said...

Snot munching fucktard ? How dare you ! Don't you know he's "World Statesman of the Year" ?

Fuck me, the world really has gone mad.

Fidel Cuntstruck said...

The next decade??? ... I fucking think not, your childrens children will still be feeling the effects of the one-eyed snot gobbler's monetary clusterfucks.

A decade indeed - that almost sounds like you're accrediting competance to some of them.

Beware of Geeks bearing GIFs said...

"The Decade of Discontent"

Riots coming to a town near you.

James Higham said...

We might be but the speculators in the City are doing nicely.

Obnoxio The Clown said...

They take the risks, they deserve the reward. If it was easy, we'd all be doing it. ;o)

sixtypoundsaweekcleaner said...

Taking risks? FFS! They never take risks, that's why they are always so good at milking it and our purse. They are particularly clever at lining their own! It's an inbred talent.

Obnoxio The Clown said...

If you don't think they're taking a risk, why don't you do it?

Anonymous said...

I'm with "sixty...". I play the market, and take risks, with my own money.

The "speculators" in the city take risks with other people's money. For them, there was only an upside.

Pogo. (my blogger account appears fucked!)

SteveShark said...

I'm with Fidel on this one.

I'm guessing 25 years minimum.

We are so utterly fucked.

Pam Nash said...

Off topic:

For some obscure reason, I seem to have withdrawal symptoms from not getting foul-mouthed Tweets from some clown or other.

So get your finger out and either get the original account re-instated or do an Obo account. Whatever. Sort it.

Stockwell Stu said...

Obo - you have a lovely turn of phrase snot munching fucktard indeed.

you off on your travels soon?

Obnoxio The Clown said...

Stu ... no immediate travel plans, but I don't ever get a lot of notice. :o)