‘STARVE PENSIONERS & BURN PEASANTS’ SAYS DESPERATE IEA
The Neolibs now finding themselves routed on all fronts, the solutions to being found out are getting odder and odder. There’s a belter in the Barclaygraph this morning:
Friedmanites eh, doncha love ’em? Having already made money increasingly without worth (then zirped we Silvers on such savings as we have) the rabid rabbits at the IEA – the Mad Handbag’s favourite looney bin – say “lets steal half the State pensioners’ incomes, and give a tax cut of no use to them because they don’t earn”. Nyyeece.
And of course, after two days of carnage on the bourses, interest rate rises have been moved jeeuuurst a little further down the track…..….with those pesky wages remaining stubbornly low, I mean how very dare they? You’d think, would you not, that wages were some kind of Islamist terror group rushing round buggering up the neoliberal theories of the world just to spite Ted Levitt. ‘Wage seen dancing on Keith Joseph’s Grave’ will be the headline in the this weekend’s Sunday Sport – you just wait and see if it isn’t.
As usual, the Telegraph’s Matt put his finger on it to perfection:
His employer, however, decided it was time for some Royal distraction. This is a new series called It’s a Kop-Out starring Wills and Kate. Except that there was an unfortunate juxtaposiiton of headlines on this occasion:
Still, Friday has once more come to the rescue of the markets. Both the FTSE and the S&P levelled off by yesterday’s close, and the London graphs have kicked off strongly.
The same can’t be said for the eurozone. Portuguese and Greek borrowing costs spiked yesterday, and european mainland markets remain gloomy. In my opinion, it was Dieselbang’s offhand rejection of Greece coming off life-support that started giving folks the collywobbles, and I do not think this correction is anywhere near finished yet.
Anyway, spare a thought for the poor unfortunate at Investing.com, who wrote at dawn two days ago, ‘Equity markets have a history of melting down and so far, this October hasn’t’. Makes me think of the cat passing the 18th floor window and yelling “So far so good!”