A Nightmare Most Of Us Are Ignoring

I know some of you have already read and contributed to the Plan B article at Newsnet Scotland, but for the benefit of those who have not, the link is here.

The video explains the causal links between ETC derivatives, the financial crisis of 2008, Alan Greenspan, Robert Rubin, Larry Summers, Jon Corzine and MF Global.  All these people are now exceptionally wealthy and it must be difficult for the average American to accept that Alan Greenspan - one of those who is responsible for the crisis- is now an advisor to the US government.

One of my readers asked me, "Is this the reason the AGW scam is being pushed so hard? To get cash?".  I had no answer but he suggested it won't work because the financial hole is too big.

Having viewed the video and David Malone's essay I hesitate to agree, but none of us can afford to ignore the nightmare any longer.

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Economists Nasty? Surely Not!

Economists are like politicians, put a group in a room together and they'll all disagree.

Edmund Conway reports that City economists Goldman Sachs and Fathom Financial Consulting are entrenched is an important battle regarding the unexpectedly weak GDP figures produced last month.

Goldman says 'The GDP figures were hardly worth the paper they were written on'.

Meanwhile Fathom, who insisted that the ONS research, produced as it is by thousands rather than hundreds, ought to be more reliable. He says it was quite conceivable that it is still in recession while almost all other G20 nations had escaped.

I'm with Mark Bathgate (of the Speccie) on this. For those of you with an interest in the latest IMF report it can be read here and the figures for the UK are, to say the least, not encouraging.

Between 'secret' loans to Northern Rock in 2007 (a year before the global crisis) and the furtive behaviour of Gordon Brown in 'selling' HBOS (which at the time had been given an injection of £25.4 billion) to Lloyds TSB, is it any wonder small investors feel angry at not being kept informed? Then again small investors don't matter to the banking industry which has treated them with disdain in the past 12 months.

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