The UK’s Triple A Rating under Threat ?

Telegraph Live - Euro: Reports that Credit Agency Moody’s has warned that the UK could face a credit rating downgrade if the economy gets worse. As things are likely to get worse before they get better folks the UK should expect the worse, the public sector cuts by the Coalition Government have not really started yet, thus one can expect an increase in those unemployed and thus an increase in welfare spending. If and it’s a big IF the Euro goes badly next year, the UK economy could retract that could mean that the UK could lose its credit rating, this would mean that the UK would have to pay more on its bonds to raise cash from the market. Its going to get cold folks.

The Elite Media and the Payroll Tax Cut

The New York Times: Reports the following on the rejection by the House of the Senate deal on the payroll tax cut and unemployment benefits, “ …tax cut in jeopardy and leaving a shadow over many unemployed Americans as the holidays near. ”. This is the tone your going to hear folks, that the nasty Republicans don’t care about the Middle Class or those on benefits, even though the Republicans want a year extension to the payroll tax cut. This is about 2012 Elections folks, both Parties are pandering to their bases, the Democrats still want to tax the rich to pay for a tax cut for the middle class, the Republicans want NO TAX HIKES, and are following the Tea Party Agenda of cuts in Government spending. This blog really cant see why the Republicans didn’t return to the trenches in Feb of 2012, get the Christmas season over, even in 1914 during World War One there was a Christmas truce. Also in hardball politics this is a perfect example of Chicago politics, the Democrats will sacrifice the middle class to get Obama re-elected, is the US voter that simple to think that two month tax cut really helps them, we shall see folks.

Senate Deal Rejected - Payroll Tax Cut

US H of R: The Republican controlled House of Representatives has rejected the two month payroll extension agreed by the US Senate and passed it call for a year, the vote was 229 to 193 in favour. It will be interesting folks to see how the public react to this vote, the Republicans want a year extension, the Democrats only wanted two months. One can see the left wing spin already, the Republican only care about the rich, they are willing to see the Middle Class get a tax hike. But the ball is NOW in Democratic court, they must be hopping that the public turn against the Republicans, and not see that the Democrats are using the tax cut as a political weapon. Lets see who flinches first folks, this was not a good idea by the Republicans, never give your opposition something to hit you over the head with over the Christmas period.

Debt and the Eurozone Crisis

Guardian: Reports the following on the Eurozone Crisis, “ The eurozone debt crisis is set to spread and deepen next year, senior central bankers warned on Monday .. ”. Thus what answer does the EU have, yes more money down the toilet to protect the PIIGS, this is mad, at what point do they get the fact that this policy is rubbish, the debt mountain is to much, the welfare state of the EU will always create more debt that there is funding to match it, thus throwing the money at the Euro is like a drug dealer giving more drugs to his customers at a cheap rate. The Greeks, the Italians are never going to reform, the EU can not afford for Italy to go down, even Ireland that has produced many austerity packages has seen its economy retract, the Country in the view of friend of Blog, Helen from Ireland is still in recession, is not a matter of going back in to recession. Thus at least UK PM David Cameron was brave to NO, and today the Chancellor of the Exchequer has said NO to more funding for the IMF to bailout out the PIIGS. This is endless darkness folks, there is more light at the end of the black hole than for the Eurozone.

North Korean Succession

Telegraph: Reports that North Korea has closed down its borders and recalled its Officers to duty after the death of Kim Jong - il. Thus folks expected the unexpected when it comes to North Korea, one can postulate that the new leadership with sabre rattle just to make clear that it’s a nuclear armed power, thus the South can expect some action, even if its only a few short range missiles hitting its outer islands. The new leader, the Great Successor will want to make an impression, what is known about him is very limited, in his late 20s, taught in Europe, likes US sports, as stated not a lot know about him. He was made a four star general in 2010, that should go down well with the older Generals, thus the new leader just might be a figurehead, its hard to say about North Korea folks, eve China, its big neighbour does not understand the place, what the chance for the rest of us, tricky times ahead folks.

UK NO to IMF - Eurozone Crisis

BBC News: Reports that the UK has refused to add an addition amount to its IMF funding, the funding is being used to save the Euro. It is simple folks, any extra funding would not get through the House of Commons, the Labour Party voted against the last funding pledge, thus if you combine that with the backbench Conservative MPs, the Chancellor of the Exchequer George Osborne had not choice but to say NO. This will go down well with the Conservative Party, the Liberal Democrats will not be happy but they should understand they don’t have the votes. The French can be expected to have another go at the UK, how many billions is it now that has been thrown at the Euro, how many Hospitals, Schools or roads could have been built folks. Its not only the left wing that can play this game folks.