Today’s INSTANT QUIZ question:
In financial terms, what have the UK and Germany in common?
Answer, they have both sold debt at negative yield. That is to say, someone is paying these countries a small fee to look after their money.
Amazing. Despite its vast debt, the UK is seen as a safe haven compared to almost anywhere else ….. Oh dear – the evil Osborne, scourge of the plebs, must be doing SOMETHING right, but of course it’s probably for the wrong reason, like to protect his job or his cronies in the City and so all thought of Brownie points should be rejected even though Ed Minibrain is now putting his money into “reality”. That’s an idea – the Noo Noo Labour Party becomes a reality show!! They could sell it to the BBC to bring in some dosh …..
But I digress; re our 70 billion loan at negative yield, how Balls must be frustrated! How he must long to return to the good old Brown days of “Spend and Bust and Bollocks to Debt”
But the intriguing question is, who ARE these people with so much money they have nothing better to do with than pay to park it in a country’s bank? They clearly do not NEED this money, do they? On the basis of the immortal and sublime “To each according to his need”, I propose confiscating the lot and using it somewhere it is needed – in my bank account for a start.
Meanwhile, the great Cantona is going to stand for the French Presidency. Pity I can’t vote – he couldn’t be worse than any of the other tossers available. He had this brilliant idea some time ago whereby everyone should simultaneously withdraw their money from their bank. BRILLIANT! All the banks go bust in hours, all their directors go on the dole. No more disgusting bonuses and a rebirth for a moral and more importantly SANE banking system.
Sadly, like most great visionaries, Eric the Great is far ahead of his time. And what a poet! I remember that thing about a seagull …. brilliant.