Stacy Summary: Meat from two cloned bulls illegally entered UK food chain. Read the article to see how the US business model of creating illegal facts on the ground are then used to prevent us from opting out of their only option.
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Stacy Summary: Well, not quite half, but over and over you will read that someone in the ‘new elite’ once worked for either the Times or News of the World or are currently married to someone who works for Times. Anyway, a very delightfully sickening read for you . . .
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Stacy Summary: Good morning everyone! So the Brits have brought back the Tories to lead a hung Parliament. Long live the Suppository Salesman! Or not? h/t @Mike/Liverpool – - Brown & Clegg could conspire to keep Cameron out of No. 10.
UPDATE: Clegg to do deal with Cameron
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Stacy Summary: Apparently, it’s a mystery as to why the UK has not been downgraded.
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Posted in Headlines
Tagged cdo, moody's, rating agencies, s & p, surveillance fees, UK
Stacy Summary: Ooooooh boy. And by the way, there is a downgrade warning in the article just for you @Mike/Liverpool.
“The first year is fiscally the easiest. Next year they have to cut another 3pc of GDP, and the following year a further 3pc,” said Chris Pryce, the agency’s Greece expert. “The great question mark is whether the Papandreou government is going to conform. There is already dissent in the cabinet,” he said.
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Stacy Summary: Seriously, are any of you surprised? And, @Mike/Liverpool . . . are you happy??
Shock economic figures today stunned the City by revealing that Britain is wallowing in its longest recession since records began.
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Stacy Summary: Lurching back to the 1970′s . . . but accompanied by the music of girl and boy bands.
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Stacy Summary: Good morning. Here are some headlines that caught my eye first thing. Time now to go read through those 200+ comments.
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Stacy Summary: The disbelieving Ponzi victims remind me of nearly the entire populations of much of the Western world that Ambrose says await an Irish fiscal fate. What are you thinking or reading about today?
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Stacy Summary: Wonder if Tesco still interested in buying the Northern Rock turkey? The other thing about these headlines is that the state of the UK economy and infrastructure are in a bigger state of disaster than the US and most of my friends in UK have far more debt and lower income than my US friends. I really can’t believe that we aren’t seeing the same levels of bankruptcy and homelessness as we see in US at the moment. I suppose it is that there is a bigger public safety net in UK?
Analysts calculated that, to be in breach, the bank must have lost more than £500m in the past six months alone. Last year, Northern Rock made a £1.36bn loss after £1.15bn of bad debts. In December, a third of its £67bn mortgage book was in negative equity.
Despite breaking the rules, the FSA is letting the bank continue to write new mortgages and take deposits. Northern Rock is planning a capital restructuring that requires European state aid clearance and the regulator has agreed that “it does not currently intend to restrict the activities while the plan is implemented”.
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Stacy Summary: The British economy turns Norman Bates-like as taxpayer owned banks start harrassing the taxpayer with threatening phone calls.
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Posted in Headlines
Tagged bank margins, black swan, chinese drywall, debtors, lloyds, mortgage, pensions, UK
Stacy Summary: The US government and its latest imperial presidency are not ready to stop transferring wealth from the population to the bankers and are doing everything in their power to stop the people from knowing that it is happening. And it looks like once they are done looting us, they are planning on sending our bankrupt a**es to the IMF. Welcome to neo-feudalism 2.0.
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Rick Ackerman
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