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thelastmanufacturer

Listed below are comments made by thelastmanufacturer between Tuesday, 7th April 2009 and Thursday, 26th November 2009.

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Dubai not too big to fail? 5:53pm on 26 Nov 2009 When banks create large sums of money from fractional reserve banking and speculate causing asset hyper-inflation. When money is lent with no checks and balances and indebtedness is raised to unheard of levels, for individuals, companies and countries. When the lack of real money, in the system, is hidden within the credit derivative trading complexities, to such an extent that no one can unravel the true trading positions of many financial houses. When the asset bubbles start to implode forcing real cash calls on non existent reserves and governments step in to guarantee these calls through ‘magic’ money, created at the touch of a button. Why does anyone think that this crisis is anywhere near sorted?
Boxed in 5:46pm on 05 Nov 2009 So long as the international debt rating agencies don't see a problem with the level of QE and the countries growing debt burden, there will be little downside to QE. The problem will come when the B of E has to unwind the practice.
Bank reform: The radical way 1:19pm on 21 Oct 2009 Robert,

The competitive structure of the investment banks needs to be investigated as the bonuses are only a symptom of the enormous profits being made. This would seem to imply that there is no real competition and banks are operating in a rigged market. A market with healthy competition has a tendency to limit the level of profit available against the volume of business. With low volume of business, which must surely be the case at this point in the cycle, then profits should also be low.
Can governments squeeze bankers' pay? 11:36am on 04 Sep 2009 Robert,

The real problem is that the financial institutions are becoming too big. They are effectively rigging the markets with their levels of trade. They are also operating in a quasi-monopolistic way, which allows them to leach money out of the real economy, their fee structures are a drain on non financial businesses and are becoming a real problem for normal pension funds. There needs to be some real regulation of their powers as they already seem to have the UK government in their hip pocket.
No quick sale of RBS and Lloyds 10:04am on 13 Jul 2009 Do we own the banks, or do they own us?
What would Tories cut? 11:38am on 01 Jul 2009 Nick,

Perhaps you should be asking the cabinet secretary, why, as head of the Civil Service, he sees fit to deny Her Majesties opposition access to the COINS database. His role is to ensure the smooth functioning of government, especially as it is likely that there will be a change of government within the next 12 months. I would suggest that he has been directed not to allow access.
Gilts shock 1:57pm on 22 Apr 2009 Watch the markets tank, we're in loony tunes territory!
Treasury wants to cut pensions tax break 10:45am on 20 Apr 2009 As one who benefits, albeit in a small way, from the 40% relief, I would have no issues with a lower relief value. In exchange I think it would only be fair that generous public sector pensions are also placed on a more affordable footing. Abolition of means testing on the basic state pension should also form part of the package.
Tories to break up banks? 4:31pm on 08 Apr 2009 #90-If you want some comparison on sales, my manufacturing operation is running at about 20% of last Septembers numbers. From October last year sales were clearly sliding, by February this year they'd fallen of a cliff.

I still have all my staff, we're currently burning through the money put aside for this years capital expenditure projects.

My expectation is for my customers to again start to want product by September, but only at very low levels and only because they have used up all buffer stock.

So by the end of the year we may only be back to about 40% of last Septembers values.
Should the banks back Britain? 11:13am on 07 Apr 2009 Obtaining funds from our banks for manufacturing expansion in the UK has been 'hit and miss' at best in the good times and downright difficult now. One of the chief culprits for the reluctance to lend to manufacturing is the ridiculous claims from all politicians that the UK has moved on from manufacturing and is a knowledge based, financial services orientated, economy.
God help us!

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