Will hopefully be firmly back in the blogging seat when I get back to laptop on Wednesay.
In the meantime, and yes I have already shamelessly plugged this article on Twitter today for it is a thing of pure beauty, have a read of solid gold Hutton http://bit.ly/66vfYA .
And before you choose 'change', think what it could entail...
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2 comments:
I read the Hutton article, and it appears to me he doesn't know what he's talking about.
For example....the BOE QE program has been used to buy up Govt debt, effectively direct funding of the Govts £178bn deficit. Every fund manager knows this and has been busy selling as many Gilts as they are able. Now they are sitting long cash, it has to go somewhere....so into the stock market it goes, causing a nice big equities rally. Its not surprising you've seen the best performance in stocks for a while when the government is effectively printing money for people to buy them with.
Another aside - the Treasury is only accounting a cost of £10bn for the bank bailouts now. So you can't blame the crisis for the huge deficit.
世間是非，要如水泥地般水過則乾。..................................................
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