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Omega_Cassandra

Listed below are comments made by Omega_Cassandra between Tuesday, 3rd March 2009 and Monday, 23rd March 2009.

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We are the monolines now 3:03pm on 23 Mar 2009 Attention moderator: Pull your finger out!
We are the monolines now 3:01pm on 23 Mar 2009 Too late, suckers.

If anyone seriously thinks that the bonsuses/brown envelopes, etc, already paid haven't been immediately squirrelled away then prepare for a disappointment. Huff and puff all you like, the money's gone.

Legislation to recover it though punitive tax? Hilarious. Will many of these rats feel obliged to repay their bonuses? Er, no. Will the so-called "bonus culture" be stamped out. Umm, no. Frankly, the bonus indignation is an irritating smokescreen that is obscuring debate on the consequences of the financial black hole that we are now careering into.

The important question is this:

Will investors continue to accept on the same terms triple A rating for junk just because the UK government says it will underwrite it (like the monolines)? The answer is: no, they won't. They will expect to pay less for higher returns on bonds. And the screw is already starting to turn.

The UK is being screwed first. The next couple of weeks will be very interesting. Expect an earlier election than feared. It will inevitably follow the devaluation of the pound.

Lots of luck.
Rock blew whistle on economic flop 00:12am on 21 Mar 2009 Au contraire...

Actually, I think it's all going rather well.

The inevitable trade protectionism - following the recent lead of France - will stiffen nationalist tendencies and hopefully lead to the breakup of the EU. It will certainly end for ever the ghastly prospect of Turkey joining.

With any luck, we can cut loose from Scotland, Wales and Northern Ireland, too. This will ensure - among a legion of other blessings - the extinction of any future Labour political prospects, and probably the end of the hilariously incompetent and corrupt Labour party.

The unions will have their necks wrung, and a bracing Darwinism will sweep away whole chunks of obsolete industries. Massive unemployment will force a belated solution to the immigration madness, and engender a health spirit of self-interest.

Closer trade links will develop between ourselves (I mean, of course, the English) and America, Canada, Australia and New Zealand. This will provide a secure base for the onward march of Anglo-Saxon world hegemony.

Thanks, Gordon. Excellent work. Keep it up.
Should the Bank of England buy shares? 10:45am on 13 Mar 2009 We've thrown unbelievably huge amounts of borrowed money into a series of black holes. Now, we're just printing banknotes and pretending its money to buy other bits of paper pretending to be assets.

The concept of large-scale government intervention in the market is predicated on the idea that the government knows what it is doing, and that it has clear, reasoned objectives.

This is what the market is for!

For God's sake, Brown; stop faffing about and let the market get us to the bottom as quickly as possible!
Newsnight Review: Is TV doomed? 4:52pm on 12 Mar 2009 YEP, DOOMED .......

Doomed? 'Fraid so.

Certainly - and very soon - in respect of the old-fashioned broadcast business model still operated by the commercial terrestrial and cable companies.

Universal, high-speed broadband will see to that within the next 18 months. ITV will have gone bust before that anyway.

Equally certainly, although it will take a little longer for the corpse to stop twitching, in respect of the BBC. As this is a government operation largely run by technologically-challenged jobsworths, no doubt this will stagger on with vast sums taxpayer's licence money for a bit longer.

The only bit of the BBC that is worth preserving is Radio 4. This is genuinely unique and very high quality. It's what the BBC was set up for in the first place. It should be cherished.

Along with the NHS, the police, the armed forces, the public schools and Oxbridge, it is one of the few remaining bastions of England's soul. Curiously, there is no licence charge for listening to radio.

The BBC employs around 30,000 (yep, 30,000. Can you believe it?) and clings to the odd notion that viewers will continue to pay the 140 quid-a-year licence fee when the same amount of money will buy them a computer and unlimited access to any and all material - whenever they want to watch it!

Hilariously, there is even talk of increasing the licence fee - and SHARING it with ITV. Pardon?

This is a horse that will not run.

It's not as if the BBC TV actually produces very much of its own stuff - apart from the odd costume drama. This is made obvious by the proprietary offerings on it's Internet catch-up service - mostly rubbish soaps, kidddies' stuff and standard news and current affairs items.

Cheerio Auntie.

But don't worry. There's no need for you to do anything. We'll do it for you. We'll just stop paying the licence fee and watch anything we want - free from any censorship - on the net, to where Radio 4 is already moving as fast as it can.

I just hope that the John Humphrys, Melvyn Bragg and Jeremy Paxman deal goes through with Virgin Media. Incidentally, chaps, the Richard Branson "face-to-face" idea is a no-no.

Universal, high speed broadband will see to that within the next two or three years
Will QE work? 09:50am on 11 Mar 2009 Is there an insolvency practitioner is the house.......?

All very interesting, but there can be no resolution - and foundation to build again - until the true toxicity of bank (and insurance company) assets has been established.

That we still do not know would strongly indicate that it is very substantially higher than has been admitted.

A strong, practical approach would be to draw a line under what has happened. We must take an insolvency practitioner's eye to the problem: what is the vale of assets! We still don't know where the line is and we have very definitely not yet hit bottom.

Until we do, then all the money that is being poured out is going straight into a black hole.
The government's actions are perverse.
Super China 10:03pm on 05 Mar 2009 Madder and madder ....

"Building tomorrow today ..... saving the world ...... time for a global New Deal ..... Britain leading the world in dealing with the slump .... better positioned for recovery than any other European country ....."

Is there no end to this stream of fatuous nonsense from the idiot? Are we really going to have to suffer this insanity for another year or so till we can vote him and his fellow prats out?
Super China 6:34pm on 05 Mar 2009 Silly me ....

How stupid of me! Of course! The solution was staring us in the face all the time. How could we have missed it?

We just abolish the concept of monetary interest and print a trillion quid's worth of extra pound notes.

Brilliant. And so simple. Why the hell didn't we do this before?
China: All about jobs 6:30pm on 05 Mar 2009 Silly me ....

How stupid of me! Of course! The solution was staring us in the face all the time. How could we have missed it?

We just abolish the concept of monetary interest and print a trillion quid's worth of extra pound notes.

Brilliant. And so simple. Why the hell didn't we do this before?
Clawing back Sir Fred's pension 8:24pm on 03 Mar 2009 # 72. At 7:06pm on 03 Mar 2009, Omega_Cassandra

This comment was removed because the moderators found it broke the House Rules.
__________________________________

Sir,

I respectfully request that you reconsider.

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