MOD: Has announced the name of the UK Soldier that was killed on Monday in the Afghanistan, the Soldier was “ Marine David Fairbrother, Kilo Company, 42 Commando Royal Marines ”. Our thoughts are with the family of Marine Fairbrother.
Tuesday, September 20, 2011
1.1% GROWTH in the UK - Forecast
Guardian Live: Reports that the IMF has cut its growth forecast for the UK, from 1.5% down to 1.1%. The Coalition Government in the UK folks has to carry on with Plan A, of deep cuts in public spending, otherwise the UK is heading to join Greece and Italy. Also lets be clear these are forecasts, they can go up and down, it would be a disaster to change policy on a forecast, there will be pain folks, people will lose their jobs, the welfare state will reduce in size, but at the end of the day the UK will keep its triple A credit rating, unlike the US under President Obama. Its going to be tough folks, higher prizes and lower wages, but that’s the price the UK has to pay for the follow of New Labour.
1st Greece, 2nd Italy , 3rd Spain - Eurozone Crisis
Telegraph Live: Reports that the costs of Spain borrowing on bond markets have hit a three year high. Thus last week the Spanish Government went with a tax hike for the rich, now the costs of borrowing on the markets have hit a three year high, lets be honest here folks, the PIIGS are a basket case, it will need trillions to bail them out, the question is who will pay, the German voter is sending a clear message to the Coalition German Government, they are voting for the left wing Opposition Party, thus a clear message to Berlin. Either all EU Counties and that includes the UK put some money in to a giant money pot to bail out the PIIGS or the Euro will fall apart under its own pressure. God knows what the Markets are smoking, they are up, what does it take a Great Depression 2.
Italy DOWNGRADE = Eurozone
BBC News: Reports on the cut in the credit rating of Italy by the credit agency S & P. This was a surprise development folks, it had been rumoured that another credit agency Moody’s would downgrade the Italian worthiness, it can be postulated that Moody’s will follow the S&P line when it comes to Italy, the agencies on the whole tend to sing from the same page. The Markets have not taken a fall with this news, that is quite a surprise, either they know something we don’t or they have blind faith that something will turn up to save Greece and Italy. The latest news on Greece is that the EU,IMF and the European Central Bank is having further talks with the Greece, it could be that the want to trust Greece as not to would mean a major crisis for the Euro and the EU. But blind faith can only take you so far folks, if there is no substance you are in free fall.
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