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PetersKitchen

Listed below are comments made by PetersKitchen between Thursday, 29th January 2009 and Thursday, 2nd April 2009.

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G20: Road to nowhere 09:05am on 02 Apr 2009 An arrival OF 20 leaders and their entorage taking one and a half hours for a 'meeting' that is to take four and a half hours provides confirmation that the communique has been formed and this is more to do with a photo opportunity for Gordon and Obama.

The tell tell sign was the italaian PM walking in discussing or demanding a change in a line of the communique before GB could even shake his hand!

Pure theatre and everyone that is taken in by it are mugs.

Thank god for France and Germany. Lets hope they throw a spanner in the US & UK show
Daniels sacrifices bonus 11:33am on 11 Feb 2009 Is Tony Blair taking his bonus and pay from his 'political advisory' duties at JPM?

Is he handing back the 300k he accepted from Goldman Sachs for a speech?

Its not just the Bankers we should be chasing
Daniels sacrifices bonus 08:54am on 11 Feb 2009 While Rome burns!!!!!!!!!!!!

Stop muddying the extent of the issues this world is facing over these damn bonuses.

The banking system is going to collapse, its a mathematical cert' and there is absolutely nothing that can be done (or has been done) to stop it.

What we need to be doing is examining the consequences of this inpending event and finding solutions to prevent a world war and/or mass starvation.
Just follow the money 3:12pm on 06 Feb 2009 If the banks wanted to lend they would love to at rates 7 points above base (just as mortgage rates being 4 points above base). They wont lend because there is not a market. Companies are going skint because nobody is buying their product and they cant get loans to get by becuse the banks no this is a long term depression.

The BoE have announced that they begin printing money in earnest on 13th Feb. What a lovely pre valentine present for the debt laden as they can begin to watch it dissapear with inflation including the governement.

Enjoy the 1% why you can because it aint gonna last long
Just follow the money 1:34pm on 06 Feb 2009 Whether it works? Printing money? Yes of course it will work. It will water down the debt so much and so quickly.

BTW, the Banks are effectively adding to their balance sheets by keeping the loan rates around 3-4% above base - that another scandal especially as the culprits include the Banks that we own!
Pushing string 08:49am on 06 Feb 2009 I sincerely hope the majority of people use their new found bonuses of lower mortgage rates by paying down their debt rather than spending it. The consequences of another binge will only bring on the hyper inflation quicker.
We've lent £185bn to banks 1:23pm on 03 Feb 2009 That implies that the value of these mortgage-backed securities has fallen by £45bn or nearly 16%.

Which implies the annulised rate of decline in house prices is over 21 percent and still going down.

A similar drop in 2009 will mean these so called assets then become toxic again.

But we knew that didnt we?
Soros and Roubini cheer me up 11:09am on 29 Jan 2009 Jan. 29 (Bloomberg) -- The majority of U.S. banks are insolvent and should be nationalized, Nouriel Roubini, a professor at New York University said in a Bloomberg television interview in Davos, Switzerland today.
Soros and Roubini cheer me up 09:45am on 29 Jan 2009 The Fed statement yesterday said its prediction of a “gradual recovery” in the U.S. economy later this year has “significant” risks of failing to materialize. Deflation and Depression replacing Recession then Rebound later this year ?

According to the IMF, the worst placed performer among the big economies will be the UK.

According to RP, two spivs cheered him up yesterday because they said it wasnt all that bad.

As governments and their agencies use spin and propoganda to talk up negatives , I take their statements as best -case and Soros as head-case.

At least Rogers is on the curve.
After the fog...? 07:42am on 29 Jan 2009 Globalisation minus finance.? I think not. Globalisation through the consolidation of currency is the end game here and to get there the markets have fgot to be torn to shreds.

Update 0730:

Step this way Mr Putin, you know when the Dollar is about to tank so start the debate regarding over-reliance on it as the main reserve currency.

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