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Sunday, June 29

"The last official act of any government is to loot the nation."


Barclays warns of a financial storm as Federal Reserve's credibility crumbles

US central bank accused of unleashing an inflation shock that will rock financial markets, reports Ambrose Evans-Pritchard

Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero".

"We're in a nasty environment," said Tim Bond, the bank's chief equity strategist. "There is an inflation shock underway. This is going to be very negative for financial assets. We are going into tortoise mood and are retreating into our shell. Investors will do well if they can preserve their wealth."
(story continues...)


ya got that last sentence of this story I hope???????????!

I figure I'll do well also - cause I got nothing to lose - right??

I just got back from the Cape and don't have the energy to get in a pissy way right now. I decided to check out a few e-mails and found the above story from Peter. He must be FED up too. I couldn't believe he didn't post this.

The comments are worth a read also. It's interesting to read how the folks in the UK are reacting to this. I'll put a few of the comments in our comment thread when I come back. (There's a line forming to use the computer right now)

We do not inherit the earth from our ancestors, we borrow it from our children.

One more quote --

Economics is political story telling. Nothing more. 

Anyone who tells you otherwise is an economicst, or more precisely - a Liar.
(no offense my dear Dark one)

Crossposted at BigBrassBlog

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