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alanbloggz

Listed below are comments made by alanbloggz between Wednesday, 10th December 2008 and Sunday, 25th January 2009.

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The long and short of banks 8:26pm on 25 Jan 2009 The government has it's fingers in every pie. and they always want more. ID cards, email checks etc. All this adds up.

So if they're so anxious that all this money should flow back into the system they should do this.

Have a ministry designed to give money direct to the people rather than to the banks. Cut out the middle man and lend direct. If they're happy with such low interest rates then it should be no problem to pass it on. If they cannot manage individuals then start with small businesses employing up to say twenty people. By giving to the banks it's doing no more than throwing it into a black hole. No good saying they can't do it, after all they can do ID cards so why not loans direct? I always said (and I wrote to Blunkett years ago on this subject) that handling immigrant labour should not be given to agencies who rip off both the workers and the end users. The job should go to those who understand labour most, that is the unions.

So it's really a question of application and above all a faiir way to get the economy going again. No good relying on banks and financial institutions they just gamblers.
Steelmaker to cut 2500 in UK 3:13pm on 25 Jan 2009 They're quite lucky at Corus . I read that an Indian owned plant in Bulgaria the Indian management just walked out and left it in the hands of an engineer with no further instructions and no contact number.
Mervyn and leverage 12:48pm on 21 Jan 2009 The likes of the BOE and the politicians do not live in a real world. No amount of pleading and offerings can force people to spend when they have no confidence in the financial system or the likelehood of long term job prospects. My own business is suffering a massive loss not because of the fall in orders, but the sheer volatility of exchange rates. So I'm getting out while I still can. I have no intentions of buying another car, house or even take a holiday I'm gonna do what millions more are doing hunkering down. That is where the bankers have taken us. I hope they rot in hell together with the crummy so called political leaders who allowed this catastrophe to happen.
Our banks 'have to lend more' 3:13pm on 04 Jan 2009 # cormont

I can't speak for the oligarchs and money launderers in offshore banks I am an expat that get's my pension paid into an RBS offshore account. Any interest is taxed at source by 20%. My account is not covered by any government insurance and even worse when I tried to draw out the bit of dosh that I have there they refused to give me. If I could dump em I'd do it in a flash I've had a gutfull of this lot. Hoarders? you bet they are.
Unhappy New Year? 3:44pm on 01 Jan 2009 Yes 11#

Those imports of cars from Japan are useful. Most if not all are right hand drive which is very good for a country that drives on the left. But then I suppose it keeps the hospital industry busy though.
Bank of England: wrong and powerless 4:43pm on 22 Dec 2008 It's all very well saying oops we're sorry we missed all those indicators. Just what is said about the devaluation of the pound now down a third against the Euro and 25% off it's high against the dollar. This bubble has caused absolute mayhem and will continue to do so. Ask the hundreds of thousands of pensioners living in the Eurozone. Their savings are no longer secure, their pensions are near to worthless in real buyinmg power and their property values are going south fast. When N/Rock happened and the story came out about guarantees of accounts I checked with my RBS offshore account only to be told that it did not qualify. When I tried to draw my cash they set a limit of five thousand pounds. The fact is they DO know what they're doing and they've got no intention of helping their customers no more than the government is under Brown. He's only interested in getting re-elected. The BOE and the Fed have much to answer for.
2009 is payback year 09:12am on 16 Dec 2008 #299

Of course the Nabob is not touched by this I merely refer to the way big biz is led these days hence the choice of industry you think will go pear shaped. It's really like a bigger game of monopoly. Only the properties and the people are real, even if the money is'nt! Funny old world eh!
2009 is payback year 10:16pm on 15 Dec 2008 Okay look at it this way. So an entrepreneur has bought up all those juicy steel mills throughout the world using OPM. The OPM was generated by dodgy derivatives but no one cared, after all it was only bits of paper which had lots of noughts on.. Prior to all this the steel mills bumbled along some privately owned ,others government owned. Now the entrepreneur has suddenly found that he can't pay back the lolly. There he was being feted all over the world by politicians and leaders after all he was a 'contributor too"! No one wants the steel and you can't switch those mills off like a light bulb they take alot to run down and even more to kick start em up to get them going again.

So the entrepreneur, who has only himself really to worry about says stuff it and a bunch of steel workers now get to lose their jobs. Not only bang goes all the periferal stuff right down to the corner shop, not to mention the lot that supplied the 'funny money' in the first place.

The question is... is it okay to bail out the firms that can't perform anymore? And... who is to blame for letting the entrepreneur run amok with loadsa lolly, buying up all the steel mills? And.. is a redundant steel mill really an asset worth having for those who are left to pick up the tab. For steel mill you can read car plant or whatever else is gonna fail next, take your pick!
Another Black Friday 12:13pm on 12 Dec 2008 Years ago I worked for Generous Motors. I was often paid off so in the end I gave up and went on to have a good life. I understand that GM is actually owned by a hedge fund Cerebus who apparently are not too keen on opening their books. So if this is the case small wonder that figures drawn from thin air don't cut much ice.
The New Capitalism 10:28am on 10 Dec 2008 I think Peston has summed this situation up in a readable way. It won't change anything, people have lost confidence and this will take a very long while to restore. No one believes the figures or the poiliticians, they've lost confidence in the economy and the jobs situation is grim too. It's now a question of hunkering down and survival. Interest rate falls if passed on will benefit those with fat mortgages they'll certainly need it to pay for the extra costs of energy etc. Funny how those prices remain despite the huge drop in fuel costs. My own business is in danger. I'm left with just one client who can actually pay on time, I reckon by mid year we'll be shutting shop. I never borrowed or took an OD I ran our affairs properly but I'll be a victim from all this. I don't care about interest cuts, I do care about collapsing exchange rates. The big one is yet to come and that's the demise of the USD, that one will spell the end. Perhaps it's value is only raised at this moment to placate all those who have truck loads of this scrip.

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