Gordon Brown says there will be zero percent growth

Posted on July 1, 2009 by stacyherbert| 24 Comments

Stacy Summary: Nice find @Mike2liverpool

This entry was posted in Headlines and tagged gordon brown. Bookmark the permalink.

24 Responses to Gordon Brown says there will be zero percent growth

frances snoot | July 1, 2009 at 7:04 am |

To me, it did not seem like a mistake. Notice how the aide was ready with an answer as if staged?
Dedo | July 1, 2009 at 7:06 am |

Like a wrestling match ,..(where’s my handbag!)
W_W | July 1, 2009 at 7:18 am |

When will the British grow a spine again and throw out these jackals on the street where they belong?
kostakosta | July 1, 2009 at 7:23 am |

I think he meant something else. The others grabbed the oportunity to have a laugh. The thing is that I don’t know why they’re laughing. They are Baroness’s party after all…
Mike2liverpool | July 1, 2009 at 7:25 am |

Stacy
Where is “TOB” clip?
Mike
frances snoot | July 1, 2009 at 8:03 am |

Perhaps Mr. Brown is referring to the time when the meek inherit the earth? Now there’s some hope.
Mother Earth | July 1, 2009 at 8:05 am |

Growth has no direction at 0% so using the word ‘rise’ can only be wrong.

@snoot Hate to chase you with a question, but you say ‘There is not enough physical metal gold in the world (harvested) for the amount of Treasuries China holds.’. First I remeber Max estimated total Gold holdings at 4 trillion, and China’s treasury holdings are at 1 trillion. Second, doesn’t that depend entirely on the price of gold ?

@Stacey In deciding which tie is the better tie of the two I think we have a tie..
sharon | July 1, 2009 at 8:34 am |

Yes, the usual school boy antics. As if Cameron will be any better – they’re both buffoons but more importantly they both work for the same people.
juergenwahl | July 1, 2009 at 8:48 am |

Brrrooown has pretty much come to the end of his rope. He was saved from the recent palace revolt, singlehandedly, by Lord Mandelson, who is the staunchest promoter of Europhile-ism in Parliament. The PM was saved to drag England, kicking and screaming, into the clutches of the EU, without any evidence of a popular mandate to do so. However, neither actor can save Labour from its past due, date with destiny in the next general election.

As the dead fish rots from its head, the rapidly decomposing Labour government has proven to be the most corrupt, inept, self-serving, comical but vicious, bunch of jackals encountered in living memory. They are experiencing the curse of living beyond their allotted time, which is becoming anachronistic saprophytes.

Brown has long preferred to be feared rather than loved. However, pursuing this Machiavellian dynamic to its logical conclusion, when the main shark gets older and weaker, and its bite becomes much less ferocious, the younger pack members have less doubt about challenging the elder’s leadership. Blood in the water generates a feeding frenzy, and the old order passes from the scene via cannabalistic means. Brown has lately been thrashing about in the blood pool, looking for supportive friends, but has found that he has none – none at all – yet the enemies abound!

King Brrrooown will soon be totally finito — then long live King Cameron (until he also begins rotting from the head – which in politics, is a natural process)!

Our stock market wall of worry is presently being constructed, brick by brick. The market’s upward momentum seems to be continuing, albeit in the presence of troubling fundamentals. Using last Friday’s numbers for the S&P500, earnings yield was 0.78%, dividend yield was 2.36%, price-to-book was 1.74x, and its price-earnings ratio was a whopping 127.45x due to a collapse in corporate earnings. A modified FED valuation model shows treasury-to-earnings yield at 4.5x – anything above 1.5x is considered overvaluation for stocks. DCF and CAPM models give really low intrinsic valuations – earnings yield would have to rise to 6.45% (versus current 0.78%) to support present market valuation by these two methods. Thomas Au’s statistically useful method of book + 10x dividends gives an intrinsic value of 746.48, representing a 23.1% overvaluation of equities. Any method I use for market valuation (and I use a few more than these) requires a very substantial recovery in corporate profits to support the market at its current price level.

As a good picture of what is presently occurring in the market, please see:

http://stockcharts.com/h-sc/ui?s=$NYSI&p=D&yr=0&mn=6&dy=0&id=p45405694339

The McClellan Summation Index is one of the best technical indicators of appropriateness of market valuation. I like to use 3 and 10 day Keltner Channels to filter out noise and give a more reliable indicator of underlying market strength. This Index is stabilising at a high level after a decline from a very high top. This suggests to me that whatever increase proceeds from here is on life-support, and that a lasting, meaningful rally will not be possible until a substantial correction takes place, tra-la!
Dedo | July 1, 2009 at 9:12 am |

fk sake! ,…….Juergenwahl,……take a breath,.geeeeez!! ; )
Ted | July 1, 2009 at 9:22 am |

I suppose he says that economy will rise fra negative growth, to zero growth within a couple of years. When it is balance, they can start earning money again. Mathematically correct, but not very communicative..
Gerry | July 1, 2009 at 10:21 am |

I love it when Juergenwahl goes off.
klaos | July 1, 2009 at 10:29 am |

murdock’s aussie CEO lashes out at bloggers

http://www.crikey.com.au/2009/07/01/john-hartigans-punchy-attack-on-new-media/

1 in 4 US mortage defaults voluntary

http://www.economist.com/businessfinance/displaystory.cfm?story_id=13905502
Fibon1123 | July 1, 2009 at 10:32 am |

They go for a pint after the show, leaving there ordinance satisfied in taking sides, we all work and pay for the circus and it looks like this and it will most likely always contain symbolism, the false conflict, umpire, religion, ceremony and opponents I can see the economics can you? Have you guessed what it is yet?

http://www.youtube.com/watch?v=0DSro4l_0cE

Another analogy,
klaos | July 1, 2009 at 10:51 am |

@Fibon1123

words can’t capture how awesome than video is. Giant Haystacks? Big Daddy’s majorettes? Nniiccee.
frances snoot | July 1, 2009 at 11:23 am |

@MotherEarth:
Do you hate to chase me with a question because I never shut up? You are right. It does depend on the price of gold and many other factors! duh. I meant gold available to be bought now. And there is the added factor of Comex gold to be delivered, naked shorts, etc. But it isn’t feasable for the Chinese to use their treasuries to purchase all gold..? Thanks for the correction…
http://www.financialsense.com/fsu/editorials/willie/2009/0528.html

My gut feeling is that gold will go down deeply and not recover. Don’t stone me: read this:
http://www.gold-eagle.com/editorials_08/thomsons052909.html
Because the big boys want it all. (Not gold, control)
frances snoot | July 1, 2009 at 11:29 am |

“As the dead fish rots from its head, the rapidly decomposing Labour government has proven to be the most corrupt, inept, self-serving, comical but vicious, bunch of jackals encountered in living memory.”

I have to contradict you, Mr. Juergenwahl. You forget America. We are #1 for corrupt, inept, self-serving, comical and vicious jackal-hide politicians. (Also snake-oil-selling religious prats, vile weapon-wielding warmonging generals….)
frances snoot | July 1, 2009 at 11:38 am |

After watching Big Daddy, I think perhaps I was wrong twice today…
frances snoot | July 1, 2009 at 11:44 am |

@Fibon1123:
I cannot guess at the economics. I am not culturally astute in Brit: can you give us a hint?
Mr Supergeek | July 1, 2009 at 11:45 am |

Aaahhhh…..That hurt the ref got it …. brilliant…..Can you imagine how much that hurt, giant haystacks elbow right in the kisser ouch!
Dan | July 1, 2009 at 12:03 pm |

Whats so funny?
juergenwahl | July 1, 2009 at 1:24 pm |

@frances snoot

I suppose that you are right. There seems to be no national monopoly on the rocketing scum-quotient of politicians. Yet, it is still surprising to view the new depths of political depravity they all plumb with each passing day.

And now, a song dedicated to those poor souls who are facing unemployment and trying to keep afloat upon a rising tide of politically-generated drek:

HELP WANTED: COLONIC IRRIGATION THERAPIST
(FRIEND OR ENEMA?)
by Lewis Stule

Although I’m just a young guy,
I somehow got the nod,
That I would be the hose man
On the enema squad.
When someone’s bowels get tangled
And impacted with poop,
We soon will have things flowing
Just like vegetable soup.

And when one’s constitution
Is not quite up to snuff,
One quick thrust with the nozzle
Will flush out the bad stuff.
So if you’re feeling sluggish,
And you need fast relief,
We’ll blast that pesky colon
Like stuck logs on a reef.

En-en-en-en-en-e-ma,
This hose goes where the sun don’t shine,
But when it does, you’ll soon feel fine,
When you get your en-e-ma!

This job is really super –
But it has a dark side –
Sometimes a fast eruption
Will shake loose a foul tide.
And then you get all covered
With a sulfurous goop –
In a transcendental warp -
You’re at one with the poop!

En-en-en-en-en-e-ma,
This hose goes where the sun don’t shine,
But when it does, you’ll soon feel fine,
When you get your en-e-ma!
frances snoot | July 1, 2009 at 1:29 pm |

@Juergenwahl

Good job flushing out the truth, Mr. Juergenwahl! If Big Daddy represents Capitalism, I’m definately going Socialist. (bweeeooooh)
Youri Carma | July 1, 2009 at 4:56 pm |

” No, Mr speaker total spending will continue to rise and it will be at zero percent rise 2013, 2014. in 2011, 12 and 12,14 it wil continue to rise …”