Tuesday 13 January 2009

DOWNTURN DEEPENS AS UK FACES 'FRIGHTENING' RECESSION



BRITISH businesses are being crippled by him on the left and the economic downturn is "deepening at an alarming pace," as financial experts warn we are facing a recession worse than in the 1990s.Despite huge cost-cutting tactics designed to entice shoppers, new figures from the British Retail Consortium (BRC) show pre-Christmas spending dropped to a 14-year low.

Like-for-like sales in December were down 3.3 per cent compared to the year before and total sales plunged by 1.4 per cent - one of the worst months on record.

COMMENT

Whatever that Clown Gordon Brown says he's going to do, the words are only soundbites or platitudes that are never fulfilled. Whatever he promises they turn into hollow promises forever coming out with endless rubbish from his gormless mouth. This recession is going to turn into something the likes of which most of us have never seen before because of Labour Party policies.

With the European elections approaching we all have the opportunity to do something about this and send him a direct message by voting for the British National Party. The BNP are the only political party that will do exactly what it says on the tin.

To read article click on Orange headline above.

3 comments:

  1. THE DELUSION OF RATIONAL MARKETS

    The first stock exchange in the world was the Amsterdam Stock Exchange, established in 1602. Amsterdam was also the site of the world first speculative bubble, Tulip Mania, which appeared shortly thereafter, 1621-1636

    This is from Wikipedia's recounting of Tulip Mania:

    http://en.wikipedia.org/wiki/Tulip_mania :

    .. traders signed contracts before a notary to purchase tulips at the end of the season (effectively futures contracts). Thus the Dutch, who developed many of the techniques of modern finance, created a market for durable tulip bulbs.

    Short selling was banned by an edict of 1610, which was reiterated or strengthened in 1621 and 1630, and again in 1636. Short sellers were not prosecuted under these edicts, but their contracts were deemed unenforceable…

    As the flowers grew in popularity, professional growers paid higher and higher prices for bulbs with the virus [a tulip-specific virus that caused more spectacular colored tulips] . By 1634, in part as a result of demand from the French, speculators began to enter the market.

    In 1636, the Dutch created a type of formal futures markets where contracts to buy bulbs at the end of the season were bought and sold. Traders met in "colleges" at taverns and buyers were required to pay a 2.5% "wine money" fee, up to a maximum of three florins, per trade.

    Neither party paid an initial margin nor a mark-to-market margin, and all contracts were with the individual counterparties rather than with the exchange. No deliveries were ever made to fulfill these contracts because of the market collapse in February 1637…

    The contract price of rare bulbs continued to rise throughout 1636. That November, the contract price of common bulbs without the valuable mosaic virus also began to rise in value. The Dutch derogatorily described tulip contract trading as windhandel (literally "wind trade"), because no bulbs were actually changing hands. However in February 1637, tulip bulb contract prices collapsed abruptly and the trade of tulips ground to a halt.

    It is clear that today's “complex and sophisticated” markets are not as unique as some would believe. What is new, however, are the circumstances and consequences of the current collapse. Today, financial markets are a global phenomena; and so, too, will be the consequences.

    The invention of the stock market in Amsterdam in 1602 combined with the issuance of the Bank of England's credit-based paper money in 1694 was to change the course of human history for the next three hundred years. That epoch is now ending.

    The world that credit gave rise to is collapsing as is its credit-based foundation, turning like the proverbial carriage into a pumpkin at midnight, as the hoped for financial fairy tale turns instead into a nightmare of defaulting debt in 2009.

    The collapse of global markets and global trade is a sign we have reached the end of this epoch. The current financial collapse is the beginning of its end. When it is over, so, too, will be the era it spawned. Human history moves in waves. Another is about to begin.

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  2. But just as the speculative bubble of Tulip Mania presaged today's markets, the story of John Law has particular relevance to the current collapse. The combination of financial markets and paper money is a volatile mixture and none was ever so destructively volatile as John Law's introduction of paper money to the financial markets of France .

    John Law believed it was not necessary that money possess intrinsic value such as did gold or silver, money could be fiat, paper notes issued by government edict, an idea resembling those later promoted by American economist Milton Friedman.

    John Law's disastrous experiment with paper money combined with his role in the Mississippi Land Company, a stock bubble on the scale of Tulip Mania, eventually transformed France and much of Europe into an economic wasteland leading eventually to the overthrow of the French nobility.

    John Law's destructive influence on France has been exceeded, however, by today's extraordinary über- mixture of central bank credit-based paper money, excessive risk and leverage and the globalization of markets—a volatile mixture whose fragility, extreme size and combustibility are now about to destroy the 300 year old world built on debt and paper money.
    WHAT A CONMAN JUST LIKE TODAY'S BANKSTER'S)

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  3. BROWN IS A ZIONIST PUPPET !!!

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