Love these septics posting doom and gloom threads about the UK. Well I guess their economy is "fixed"... The thing about it is, we may have a one eyed scottish idiot running the show but he gets booted out in a couple of months. How long are you stuck with Barry? & is that long enough to tax and spend you into oblivion???
Barry is the best. My wifes uncle and the rest of the family can't understand how Obama is not loved by all. He is going to fix everything Bush and co. screwed up. They told me so.
Deathbed of Keynesian Economics Will Be in U.K. http://www.bloomberg.com/apps/news?pid=20601039&sid=a5t.xQdllnbo "Stimulating the economy isnât working. In fact, itâs only making it worse. Consumers and businesses donât want rising taxes. A falling currency pushes up the cost of everything the U.K. imports, stoking inflation. Savers get decimated, and yet the banks remain reluctant to lend because they rightly believe the economy is in the doldrums. Recipe for Recovery Whatâs needed is a total change of direction. Get the deficit under control. Raise interest rates to restore confidence in the pound, and reward saving. Cut taxes to stimulate enterprise and investment. And yet the real lesson of the U.K. in 2010 will be of wider significance. A country canât spend its way out of a recession. And it canât fix what was at root a problem of too much debt by just borrowing more and more. In the country of its birth, Keynesian economics is being tested. If the economy isnât growing at a healthy clip again by the end of 2010, its failure will be obvious to everyone." -------------- "On Feb. 14, a group that included the former Bank of England policy makers Tim Besley, Howard Davies, Charles Goodhart and John Vickers published a letter to the Sunday Times calling on the government of Prime Minister Gordon Brown to control the ballooning deficit. If it didnât, the stability of the economic recovery would be threatened, and there would be a run on the pound, they warned. Keynesian Backlash That brought a stinging response from the Keynesians, who are urging the U.K. to spend its way out of recession. Nobel laureates Joseph Stiglitz and Robert Solow were among the signatories to letters written by a group of 67 economists insisting that deficit spending was the only way to salvage the economy. The letters, published in the Financial Times, argued that a âa sharp shockâ now âwould be positively dangerous.â So who is right, and who is wrong? Itâs a debate that matters to the rest of the world. After all, if demand management doesnât work here, it wonât work anywhere. The U.K. has some experience of mass letter writing from Keynesâs devotees. In 1981, a group of 364 economists wrote an open letter ripping into the policies of then Prime Minister Margaret Thatcher. They turned out to be totally wrong, of course. With hindsight, no one can now dispute that her policies led to a long and durable economic revival. Budget Blowout And just as the Keynesians were wrong three decades ago, they are wrong now. "
Rogers is probably correct. However, wasn't he secretly buying US dollars at the end of last year while he was openly bearish on the US economy?
com'n...think for yourselfs SHEEP! First: why, if the mark was true, would they try and predict the sell off? Hummm Could "they" be short the pound...and want the idiots to jump in so they can cover even lower and let "Idiots" take the heat on the rally? Are these guys...Rogers, and crew ...altruistic and just giving out great plays so all mankind can get short before the "Storm". Give me a fucking break. These guys do not know when anything is gona happen and any fool with their "Size" can take the gamble. It's all odds.... I have yet to hear the rumblings of a "POUND" sell off like they speak of. I only deal with some of the wealthest People in this country, whom tend to have a lot of "Money" at work. These financial headlines and news are absolute "guess's" beyond the doubt. .......and a very small % play out. It just happens that these guys have huge positions on and when the win...its news.... For some reason, when the loose.....nobody says much... I call bullshit on this.
Rogers is probably correct. However, wasn't he secretly buying US dollars at the end of last year while he was openly bearish on the US economy? ------------------------------------------------------------------------------- Yes, these guys eat the joe public for lunch.... When you swim with sharks, maybe you will understand their way of thinking. Doesn't mean that they can't have a voice or opinion. They all so know...Idiots follow ever word and they eat those idiots for lunch.
No question they are talking their book. But what is Livermore's "general conditions" telling us? It turned ugly in August, 2007 with the biggest (at that time) Fed injection ever and rattlings in the currency markets. No turn in sight as far as I can tell. In fact, it appears to be worsening.
Rogers admits to being a terrible short term trader. He was saying last January that the pound will reach parity with the dollar sometime within a decade. Rogers and Faber should have been actors seeing how much they love being in the limelight with their daily forecasts. All of these guys say one thing and invest another. Soros was saying gold was a bubble yet doubled his position in the latest filings. They are good for entertainment purposes only.
If you keep predicting a crash every year for 30 years, every now and then you're gonna nail it! As the saying goes...even a broken clock is right twice a day. As someone else pointed out these assholes combined have predicted 17 of the last 3 crashes.