Iraq Inquiry and Tony Blair

Guardian: Reports that the Iraq Report has been delayed due to “ Damning criticism of Tony Blair and the way his government led Britain into invading Iraq ” and the struggle between the Inquiry and Government over the release of secret documents. If the report is highly critical of Tony Blair he might have to resign as Middle East Peace Envoy, also the Blair Camp can be expected to rubbish report when it comes out, expect selected leaks and interviews folks just before the report comes out, that is the way New Labour worked. Also the Labour Party under Ed Miliband will want to distance itself from the Blair period and the Iraq War. This should cause more tensions between Ed and David Miliband. As to the release of secret documents that relate to the political relationship between Blair and Bush 43 the Government has a point, the Special Relationship works because of the close relationship between a UK PM and US President, thus the release of direct letters between the Oval and No 10 would be damaging, and should only be released after much thought and consideration. In other words never, Blair will just have to be left off the hook folks. That is the nature of real politics folks.

Death in Afghanistan

MOD: Reports that a UK Soldier has been killed in Afghanistan, the Soldier was from the “ 2nd Battalion The Rifles ”. Thus since 2001 the UK has lost 386 of its Armed Forces Personnel in Afghanistan, of that total it has lost 342 in combat action and 44 due to illness, accidents or other incidents.

Germany and the EU

Telegraph Live: Reports that German Chancellor Angela Merkel has stated that Germany is willing to give up some of its sovereignty to the EU. This sounds like something that the EU would love, slight problem, in economic terms the EU is Germany, it’s a Trojan horse folks, all it would mean is that Germany would run the Eurozone under the symbol of the EU. Does Germany think the rest of the EU is naïve or stupid, the German Parliament and German Supreme Court would have to okay such a move, it would be an interesting vote folks, does Germany want to be on the hook for the debts of the PIGS forever. This is political gesture that is devious and benefits Germany, NO Germany.

UK Unemployment = 8.3%

BBC News: Reports that UK unemployment has risen to 2.62 million or 8.3%, of that 1.02 million is youth unemployment. As this blog in its time has been in the youth unemployment area in the early 1990’s its not fun folks, also any measures taken by the Government at the time has a delay in getting in to motion and its effect is negated by the economic conditions that develop beyond the original scope of any Government Plan. The great idea in the early 1990’s was for more students to go to University, it was hoped that 50% of students would go in to higher education, the net result folks, the value of a Degree has been devalued, if you want to work in a modern store as a shelf packer you need a Masters, as Graduates cant get jobs in the graduate field they have to go down the food chain, in other words non graduates who would have expected to get jobs that didn’t need a honours degree find that they can be in competition for a low paid job with a someone who might have a Doctorate. Its that bad folks, so any new Government plan wont be enough, will take time and by the time its in motion the economic field will have changed. At the end of the day its business that makes jobs, when Government tries it fouls it up badly, and creates shallow stupid degrees that gives a student a false idea of his or her job worth, lets be honest there to many media degrees etc, thus the Government should cut taxes for business, allow people who make money to keep that money, then they will buy products, people will get hired and unemployment will go down. Its not what people want to hear but it’s the truth folks.

ObamaCare and Congressional Democrats

The Hill: Reports that Democrats in Congress are worried that ObamaCare will be thrown out by the US Supreme Court. In many respects this would help the Oval, at least the hated mandate, by which US Citizens would be forced to buy medical cover would not be an issue in November 2012. The real worry for the Chicago Obama re-elect committee would be if the US Supreme Court decided it was legal, thus would make the tea party movement come out in droves in November. The Republican candidates would have a field day if the Court gave the green light to ObamaCare, even Romney has argued that RomneyCare is not a template for the rest of the US. Thus the Republicans could make ObamaCare their major issue in till November. Thus the tea party supporters and independent voters it can be argued could push the Republican Nominee over the wining line.

Is Germany BREAKING ? - ECB

Guardian Live: Reports that Peter Bofinger an economic adviser to German Chancellor Merkel has stated the following, “ .. has broken ranks and conceded that the European Central Bank should become the "lender of last resort" ”. Is this a trial balloon folks by the Germans, to see how the markets and the German people, react, one can postulate that that a adviser would not have stated the above without a green light from the Chancellor. But as stated it’s a trial balloon, the Germans are VERY wary of this kind of printing money policy by the EBC, brings back the memory of hyper inflation of Weimar Germany and the raise of Hitler, the idea would have to get through the German Parliament and the German Supreme Court, the German Parliament has made it clear it wants to okay any EU polices of the Chancellor. If the ECB did print money it would help Italy and Greece, save the Euro, but it would mean in essence that Germany would have to bailout the EU all the time, lets see if this balloon goes up or gets shot down in Berlin.

Italian Bonds = 7%

BBC News: Reports that the cost of 10 year Italian Bonds has gone over the 7% mark again, even with the formation of a new Italian Government. Lets face it folks, the Markets on the whole are not fools, they know that when the tough austerity package starts to hit Italians this new Government of technocrats has no base, no backup, thus it will fall, also should the 60 billion package of tax hikes and cuts work the political parties will not allow the new Government to take credit, they will call snap elections, they have the votes. Thus if your betting a long term Italian Government you are miss reading the public mood folks, this new Government will be short and brutal, better bet would be on the lottery folks.