Posts Tagged ‘phony recovery’
Radio: Michael Panzner on the phony recovery
Posted by smeddum on October 23, 2009
Posted in Financial crisis | Tagged: End of empire, phony recovery, US failed State | Leave a Comment »
U.K.’s FTSE 100 Index Falls for Fourth Day on Economic Concern
Posted by smeddum on October 3, 2009
U.K.’s FTSE 100 Index Falls for Fourth Day on Economic Concern
By Alexis Xydias
Oct. 2 (Bloomberg) — U.K. stocks fell for a fourth day, the longest losing streak since April, after a report on U.S. jobs added to other disappointing economic data this week. Read the rest of this entry »
Posted in Financial crisis | Tagged: phony recovery | Leave a Comment »
FTSE rise ‘based on fraud’
Posted by smeddum on September 27, 2009
September 27, 2009
FTSE rise ‘based on fraud’
One of Scotland’s leading investors trashes rally as ‘fraud’ and warns it will harm investors wealth
Ian Fraser
The stock market rally is a “dash for trash” based on a “fraud” likely to harm investors’ wealth, according to one of Scotland’s leading investors. Read the rest of this entry »
Posted in Financial crisis | Tagged: FTSE, phony recovery, stock market crash 2009 | Leave a Comment »
U.S. credit card defaults up, signal consumer stress
Posted by smeddum on September 16, 2009
Tues Sept 15
By Juan Lagorio
NEW YORK (Reuters) – Bank of America Corp and Citigroup Inc customers defaulted on their credit card debts in August at the highest rates since the onset of the recession, a sign that the banks’ consumer lending woes are far from over. Read the rest of this entry »
Posted in Financial crisis | Tagged: phony recovery | 1 Comment »
The Coming Consequences of Banking Fraud
Posted by smeddum on September 11, 2009
The Double Dip Recession, or the “W” shaped recovery that a minority of economists, such as Joseph Stiglitz, is now stating as a strong possible outcome of this current rally, should not be discussed in the realm of economics but rather in the more apropos realm of financial fraud. The fact that the upleg of the “W” shaped recovery that is occurring now will inevitably crumble in spectacular fashion will not be a result of any free market principle, but rather the direct consequence of a fraudulent scheme executed by an elite global financial oligarchy, otherwise known as Central Banks. If the mission of this current manufactured leg-up in Western stock markets was to fool the world into believing that global economies are recovering, then clearly, up until this point, the mission has been a resounding success. For those unfamiliar with the term “blowback”, it’s a CIA term that was first used in March 1954 to describe the unintended consequences of US government international activities kept secret from the American people. Read the rest of this entry »
Posted in Financial crisis | Tagged: Banking Fraud, phony recovery | Leave a Comment »
Phony recovery begins to surface in UK press
Posted by smeddum on September 10, 2009
Mandelson is also warning of a double dip
Adrian Hamilton: Sorry, but the recession is not over
The factors behind the recovery up until now have been largely temporary in nature
Thursday, 10 September 2009
The recession is over. We have been told so by the National Institute of Economic and Social Research, the Recruitment and Employment Confederation and a succession of bank economists. Only it doesn’t feel that way to most people in the country, suffering from cost cutting in their jobs and uncertainty in their outlook. Read the rest of this entry »
Posted in Financial crisis | Tagged: phony recovery | Leave a Comment »
UK will grow sicker until it swallows the bitter pill of economic reality
Posted by smeddum on September 4, 2009
UK will grow sicker until it swallows the bitter pill of economic reality
Millions of ordinary Britons are worried sick about debt and falling incomes. Unemployment and house repossessions are soaring – glib statistics which mask a welter of human misery. Countless UK firms are struggling with cash flow as they try to balance the books. And we’re all sick of the grim economic news.
Telegraph
By Liam Halligan
29 Aug 2009
No wonder the UK’s “imminent recovery” is getting a lot of coverage. Last week, I returned from holidays abroad to find our media banging the “recession is over” drum. In truth, though, the UK remains in economic dire straits.
I write this not to “talk down the economy” – although I’ll be accused of doing so. I’m countering the prevailing consensus because of the evidence. I’m also concerned that by insisting everything is rosy, a vast panoply of political and financial vested interests can claim their counterproductive “rescue measures” are working, while avoiding the tough regulatory changes we need to prevent another “sub-prime”. Read the rest of this entry »
Posted in Financial crisis | Tagged: phony recovery, quantitative easing | Leave a Comment »
In These New Times 