EASY READING CULTURE OF LIFE NEWS: HOUSE OF LORDS IS HOUSE OF WHORES « Culture of Life News 2
Seems that a newspaper played a game with some Labour Lords and they tried to sell their services. We know that DC is a whore house but the house of Lords is a whore house is a lot funnier. Alas, the declining fortunes of the Financial House of Cards in England are sad. The housing bubble was very bad there, it reached Tokyo aka 1990 levels of insanity. The banking system nearly totally collapsed last October and might actually finish doing this by next October.
Everything and everyone is for sale, it seems. No one has ever seen fit to offer me any bribes. When I was very political, people were happy to make threats or verbal attacks or shove me aside or censor me but no one bribed me. Maybe I played my cards wrong. Maybe, this is why I ended up living in a tent, on a mountain, rather than sitting on a throne, wearing ermine in the House of Lords.
Well, fuzz that! The House of Lords should be shut down. It seems to have no real function anymore except to be a mall for corruption sales.
ICELAND HAS become the first European country in which a government has decided to have fresh elections after the international economic crisis provoked continuing street demonstrations and violent incidents over police retaliation.
Other countries too are feeling the strain of social protests as the recession bites and governments respond with public spending cuts and tax increases. In the last two weeks Latvia, Lithuania and Bulgaria have seen this happen, while in Greece the violent demonstrations that broke out last month over the shooting dead of a young protester by a policemen have continued sporadically and have now been taken up by farmers. They were sufficiently serious to convince French president Nicolas Sarkozy not to introduce a school reform for fear of provoking a similar student protest in France.
Two years ago, I predicted vast riots in Europe when the EU hit the wall. The wall was pretty obvious back then. It is even more obvious now. Since everyone’s noses are being mashed by it. Anyone who says, ‘No one could have forseen this’ hasn’t read my various blogs, Money Matters and Culture of Life Financial News.Just looking at trade data, banking information, reading lots and lots of old newspaper articles, looking at IMF data, etc, it was pretty easy to foresee this disaster.
I remember when people were marveling about how a closet in central London, in the City, was as expensive as a fine house in the countryside. A Russian ex-KGB officer, spending $40 million to buy a wretched house in a fancy neighborhood was viewed as a harbinger of eternal wealth, not a blazing danger sign, this was a bad, bad bubble. The Japanese had the same marvelous experience when an apartment in Tokyo was worth more than half of the mansions in my neighborhood in New Jersey, back in the late 1980’s.
When simple dwellings suddenly balloon to a value much greater than mansions, this is a bad, bad sign, not a miracle from heaven. Smart people are supposed to notice this and stop it. The method is simple: raise interest rates and kill off the Bank of Japan via G7 negotiations. Instead, this was encouraged. The British have a long history of banking knowledge. The fact that they all threw it out the window is just too bad, isn’t it?
I suggest arresting everyone responsible for creating this bubble including the House of Lords. Get rid of the Queen and her brood, too, just to make it even and more natural. Revolutions are no fun unless the royals get knocked off their pedestals.
Ministers were accused last night of profiteering from the soaring numbers of people facing bankruptcy after they announced huge increases in fees at debtors’ courts.
Charges are to rise by up to 233 per cent for debt proceedings from next May, affecting hundreds of thousands of people who plunge into the red.
The move, which has been branded a stealth tax on those least able to pay, comes as a survey by The Independent reveals the depth of Britain’s debt problem with the country now officially in the worst recession for 30 years.
Right before the big economic train wreck in America, the corrupt minions in our own Congress and the idiot Crown Prince, Bush, reformed the bankruptcy laws, making it much nastier. Well, it is no shock to see the equally corrupt House of Lords and others do the exact same thing. Birds of a feather.
Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown’s Ministers has revealed.
City Minister Paul Myners disclosed that on Friday, October 10, the country was ‘very close’ to a complete banking collapse after ‘major depositors’ attempted to withdraw their money en masse.
The Mail on Sunday has been told that the Treasury was preparing for the banks to shut their doors to all customers, terminate electronic transfers and even block hole-in-the-wall cash withdrawals.
Only frantic behind-the-scenes efforts averted financial meltdown.
If the moves had failed, Mr Brown would have been forced to announce that the Government was nationalising the entire financial system and guaranteeing all deposits.
But 60-year-old Lord Myners was accused last night of being ‘completely irresponsible’ for admitting the scale of the crisis while the recession was still deepening and major institutions such as Barclays remain under intense pressure.
KEEP IT ALL SECRET!!! Don’t want to panic anyone. Especially the House of Lords. The chance of an entire nation’s banks going under in one day is not impossible. It is quite probable. Here is my own blog from October 9th to the 10th:
Sorry about the choppy posting here today. Finally, real, hard information is flowing in. It seems that the messy auction of Lehman credit default swaps is NOT finished at all. We know that the amount these things are worth is around 8% which means the counterparties who promised to pay the insurance on these crappy CDOs will now have to make up the difference. NONE OF THEM HAVE, YET! How they will pull off this $400 billion minus $24 billion, is anyone’s guess. I suspect Paulson will be the one who will pay up. Also, the threats against the dollar hegemony continue and Japan has retreated from these dark threats and now wants all the FOREX holders of massive dollar bags of money should use this via the IMF to bail out the US and not punish us but give us even more loans so we buy Toyotas again like in the good old days. This is impossible, I say, as well as undesirable.
The running story of today’s economic news continues. I will comment on what this all means as I figure out the ramifications of all this mess. Many, many things are flowing out of this devolution of the entire G7 banking system. This is a monumental failure of the entire concept of Free Trade and the Floating Currency. Indeed, it is almost like a fairy tale: all the ill-gotten gains from manipulating things will vanish and everything set to rights again by the intervention of divine authorities.
OCTOBER 09, 2008
All hell is breaking loose before Halloween. The next 24 hrs will see many insurers and banks across the planet go belly up as the monstrous Derivatives Beast begins to rip and tear it all apart as the grim Goddesses unleash this great creature upon our unbalanced international finances! Things will happen FAST. So feel free to add lots and lots of links and news stories here today. I will revise this story as it unfolds and will be very happy for any information everyone brings here! Thanks in advance!
Well, well, well! That was one busy day! I remember staying up nearly all night, tracking the news and analyzing it. And has things gotten better or worse, since then?
I don’t need to answer that rhetorical question! The Derivatives Beast was not allowed to finish off the entire banking system. Is he dead? Or is he now a member of the House of Lords? HAHAHA. Sigh. This is beyond sad, it is stupid. The entire business which comprises the greater part of the planet’s known wealth is the Derivatives markets. $66 trillion is involved and already, over $10 trillion has vanished. More to come. And the bankers simply latched onto the taxpayers in a forlorn hope, the taxpayers can still swim. Only they, too, are sinking, fast. So this business of saving the derivatives markets by putting it all into a Bad Bank, the Bank of Azazel, the Bank of the End of Times, yes. It won’t work.
If you click on the links above, you will get all the sordid details of that terrible day.
Well, one good thing: Putin doesn’t have his hands on the light switch like he does in Europe. By the way, Davos is having its annual Ruling Elites dinner. Putin and Wen, of China, are going to be there. Hardly anyone else. Brown will be there. Heh. Needs to escape for a few hours and hob nob with the Future Real Rulers.
And this isn’t the end. The Derivatives Beast will eat all the illicit wealth from the property bubble. Look at Japan. Same story. And the US, also the same. Back in 1998, some friends and I started a web forum called, ‘Dow Jones 36,000’ as a great place to track the collapse of the stock markets. You see, a pundit in the news made big waves, boasting that we would see markets at that level. I said, he was insane, and compared it all to Japan. Back then, that is. Well, like I said, all of this was very easy to foresee.
Australians have suffered their worst losses on superannuation in living memory, with typical funds losing an average of almost 20 per cent in 2008, new figures reveal.
Research agency SuperRatings said the average balanced fund dived by 12.5 per cent in the second half of 2008, and by 19.7 per cent for the full calendar year.
It was the worst annual result since the start of compulsory superannuation in the early 1990s, wiping out any gains made over the past three years.
And dear Prudence was thrown to the dogs and everyone ran off with Risky. And now, the party is over. We can’t retire. This is disgusting. And easy to see. When I was very young, I said, ‘When we [baby boomers] get old enough to retire, we will bankrupt everything and have a Great Depression.’ I based this prediction on the idea that all the things I needed to use as a child were always overcrowded and I couldn’t get my fair share. I really didn’t want this prediction to come true.
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