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UK: Bad numbers
  • Vitaliy_KiselevVitaliy_Kiselev

    This week, the people of Nottingham welcomed Goliath with open arms. An incredible 1,701 people applied for eight vacancies at a new Costa branch that opened yesterday. But such devotion is far from a reaction to a paucity of macchiatos in the suburb of Mapperley. Newly released quarterly figures show that despite a record number of people now in work, millions are trapped in a cycle of part-time employment. Permanent jobs are in short supply, stunting Britain’s recovery.

    Via: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9888250/Costa-Coffee-barista-Im-going-to-cling-on-to-this-job.html

    Btw, GB credit rating had been downgraded recently.

  • 17 Replies sorted by
  • jrdjrd

    Btw, GB credit rating had been downgraded recently.

    The same credit agency that gave junk mortgage-backed securities AAA ratings.... When the agencies dropped the Japanese and American ratings, interest rates actually went down in both countries, because the bond market doesn't care what the rating agencies say. The agencies are known to be incompetent and bought-off, and their rulings on sovereign debt reflect the political biases of management.

    In this case, I believe it was Moody's which did the downgrade. A few years ago, Warren Buffett, whose company is a major stockholder of Moody's, was asked if he was going to intervene in the company -- because of Moody's disastrously bad performance in rating securities. He answered "no", because he never interferes with a successful business model.

    As for unemployment in U.K. -- witness the marvels of austerity!

  • Vitaliy_KiselevVitaliy_Kiselev

    When the agencies dropped the Japanese and American ratings, interest rates actually went down in both countries, because the bond market doesn't care what the rating agencies say.

    While agencies are not angels, words about "interest rates actually went down" need details added, as it is details that show how fucked the system is. All three of this countries can no longer sustain normal interest rates they deserve, hence bond market had been turned into complete manipulative mess.

  • driftwooddriftwood

    1970s all over again. 8 years needed without someone like Thatcher to sort out the UK properly.

  • Vitaliy_KiselevVitaliy_Kiselev

    1970s all over again. 8 years needed.

    It is not 1970, in fact 1970 was extremely good compared to present situation, as present situation have fundamentals behind - fully incapable management, issue with resources, energy, water and population. So, no comparison.

  • driftwooddriftwood

    1970s (lets say 75-78) I remember the rebirth. Well culturally. :-)

  • Vitaliy_KiselevVitaliy_Kiselev

    1970s (lets say 75-76) I remember the rebirth.

    Rebirth? Rebirth of what?

  • driftwooddriftwood

    Innovation.

  • Vitaliy_KiselevVitaliy_Kiselev

    Innovation.

    Ouch. You mean new innovative way to foce people get more credit? ;-)

  • driftwooddriftwood

    No. People led innovation. Starting from the ground up. We expect nothing from governments.

  • Vitaliy_KiselevVitaliy_Kiselev

    No. People led innovation. Starting from the ground up. We expect nothing from governments.

    It is all big fairy tale that have nothing in common in reality as almost all so called "innovations" were sponsored by goverments, it is easy to check.

    Right now all you can't make any innovation by yourself. You need big money, good organization and people.

  • driftwooddriftwood

    Back in the garage with my bullshit detector Carbon monoxide making sure it's effective People ringing up making offers for my life But I just wanna stay in the garage all night

    We're a garage band We come from garageland

  • ignatiusignatius

    The system is down, the system is down.

    Find another way to kick the can down the street and perhaps a new bubble will pick us all up for 2020-2030. The real problems never get resolved because although we are the majority, it isn't our world people.

  • Vitaliy_KiselevVitaliy_Kiselev

    Find another way to kick the can down the street and perhaps a new bubble will pick us all up for 2020-2030

    Looking at the energy, resources and food charts makes it doubtful that thing will go pleasing way.

  • driftwooddriftwood

    Very 70s problems.

  • Vitaliy_KiselevVitaliy_Kiselev

    Very 70s problems.

    Nick, go back on this blog posts looking at charts 9credit, debt, resources, energy, etc), after this return and show any similarity.

  • driftwooddriftwood

    Its worse I agree. But if you believe its insurmountable then how do I inoculate my daughter? Forests need fire and the seeds of youth.

  • mattherematthere

    Are there things that we can do to avoid the worst of the impending doom? There seems to be a whole lot of negative stuff going down, and nobody offering much in the way of a solution? Surely the best solutions happen slowly over time rather than waiting for the tipping point and having to make drastic changes?

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