Month: September 2018

Thursday, 27^th September 2018

Somebody is going to be wrong….

Last week we reported how various ‘expert’ prognosticators are forecasting doom and gloom not so very far down the road ahead….

Gordon ‘Goldfinger’ Brown, ‘Miserable’ Mark Carney, Moody’s, the British Chamber of Commerce and various economists, all of whom make their living telling the rest of us how things are going to be, were shaking their heads darkly and furrowing their brows….

The consensus is that, all being well, the next global financial crisis will come chugging down the High Street – with all the reliability of a London bus – some time in 2020….

Make a note in your diary. It’s sure to be amusing, interesting or potentially catastrophic – depending on your circumstances….

• Worse than the Great Depression….

More experts have been out on maneuvers this week – getting in on the act, speaking to the newspapers or talking out of television sets at folk eating their evening meal….

Economic Commentator, Peter Schiff, for example. He said this to the New York Post….

‘We won’t be able to call it a recession, it’s going to be worse than the Great Depression….’

The soundbite kind of skates over the detail….… Click here to read more

Thursday, 20^th September 2018

All this gloom can mean only one thing….

I wouldn’t imagine Gordon Brown is much fun on a night out. The ex-Prime Minister is a relentlessly gloomy animal. A bit like Eeyore in Winnie The Pooh….

I don’t think he ever recovered from presiding over the worst trade in living memory….

As Chancellor of the Exchequer, Brown sold 60% of Britain’s gold reserves in a series of auctions conducted between July 1999 and March 2002….

He got his timing hideously wrong – selling just inches ahead of a huge bull market in gold and ignoring Bank of England reservations before pushing ahead with the misguided sale….

He sold Britain’s reserves of the precious metal for $3.5 billion. In 2011, the same amount of gold was worth almost $20 billion….

Brown was widely pilloried, and the trade came to be known as ‘Brown’s bottom’….

Brown seems to me to have been sucking on a lemon ever since….

• Sleep-walking into crisis….

Whenever Brown steps out in public these days, you know the stern-faced son-of-the-manse bears no good tidings….

And he was true to form last week when interviewed by the Guardian newspaper on the tenth anniversary of the global financial crash….… Click here to read more