DOOMED: External investors have no confidence in Britain

[sasguru]

http://www.bloomberg.com/apps/news?p...npc&refer=home


1. Mervyn King, governor of the Bank of England, says there is no more money for further stimulus.
2. Investors don't think UK plc is a safe bet for the future.

We're effectively bust.

[PM-Junkie]

Was discussed yesterday as it is yesterday's news. This was hardly a surprise after King's little observation

[AlfredJPruffock]

. Mervyn King, governor of the Bank of England, says there is no more money for further stimulus.
2. Investors don't think UK plc is a safe bet for the future.

We're effectively bust.

I could lend the Bank of England a fiver if theyre stuck.

Mind you - I will need it back by Tuesday.

[Mich the Tester]

Was discussed yesterday as it is yesterday's news. This was hardly a surprise after King's little observation

So now Gordon will blame Mervyn for telling people the truth.

[PM-Junkie]

So now Gordon will blame Mervyn for telling people the truth.

No, the point is that when the governor of the BOE issues a statement that basically says the head of the UK government is about to screw up, of course investors are going to run for the hills.

The really interesting debate is why King would issue such a highly political statement just when Brown is off trying to get support for his ideas. If this doesn't show that King and Brown hate each other, I don't know what does. And whatever way you cut it, that is not good.

[ChimpMaster]

It's OK they can always increase taxation some more - we're only at 40% so there's plenty more capacity before it hits 100%

[Mich the Tester]

The really interesting debate is why King would issue such a highly political statement just when Brown is off trying to get support for his ideas. If this doesn't show that King and Brown hate each other, I don't know what does. And whatever way you cut it, that is not good.

Maybe Mervyn is basically a decent chappy with some integrity who wants to prevent the UK overstretching itself and going bust. Maybe he's a little late with his warnings, but perhaps he's trying to take some responsibility where he sees that the government are planning something reckless.

[suityou01]

Maybe Mervyn is basically a decent chappy with some integrity who wants to prevent the UK overstretching itself and going bust. Maybe he's a little late with his warnings, but perhaps he's trying to take some responsibility where he sees that the government are planning something reckless.

Merv was called to Buckingham Palace yesterday. I'm guessing it was to tell him to get back in his box.

[PM-Junkie]

Maybe Mervyn is basically a decent chappy with some integrity who wants to prevent the UK overstretching itself and going bust. Maybe he's a little late with his warnings, but perhaps he's trying to take some responsibility where he sees that the government are planning something reckless.

Agreed - but think about it. He could have easily issued this statement when Brown announced the intention for a second "stimulus", but he waited until now, when it would cause the most political damage, and when Brown was out of the country and therefore putting out the flames would be more difficult (especially with that numpty Harman holding the fort).

Don't get me wrong...I am not criticising King. I think it was an exceptionally well played and highly damaging move.

[sasguru]

Agreed - but think about it. He could have easily issued this statement when Brown announced the intention for a second "stimulus", but he waited until now, when it would cause the most political damage, and when Brown was out of the country and therefore putting out the flames would be more difficult (especially with that numpty Harman holding the fort).

Don't get me wrong...I am not criticising King. I think it was an exceptionally well played and highly damaging move.

King strikes me as one of the old-school, essentially decent, blokes. No wonder he doesn't like this bunch of numpties.