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The future for the UK Stockmarket & Sterling     27-Sep-09 08:12 AM    
Just recently, when he spoke of introducing laws in the UK to curb bankers' pay (yet another politician looking for the wonderful payday of a job in European Politics?) our possibly sick PM said "People in Britain have a very strong sense of fairness and a very strong sense that people should take responsibility for their actions.”
Presumably he was not referring to all the politicians, of whatever hue, who cheated on expenses but have not resigned or to the very many senior politicians (often in a legal post) who see no shame in "soldiering on" when they have been found to be breaking the law.
The most recent of course is a lady caught out flouting the law on the employment of illegal immigrants equating it to cheating on the London congestion charge.
Presumably the PM was also not referring to the millions of people who, perfectly understandably (because it does not profit them), choose never to work but rather choose to exploit all those who do an honest days work AND pay taxes.
There is a very real threat in this nonsense about bankers' pay, the Brits have only ever been good at poetry and piracy (in a modern sense this is popular music and the City of London) and to potentially force the bankers overseas is an incredibly unwise act.
Can the PM just have a look to make sure that these "City Slickers" did pay the proper tax on their gigantic earnings?
If so, he should be encouraging the bonus culture, the national deficit is so huge that the exchequer needs all the income it can lay its hand on.
What future for the fund raising ability of UK companies, and therefore the price of their shares, and also the level of Sterling, when the world's finances are arranged outside these shores?
The Scots were once good at finance but both RBOS and BOS have shown that these "canny" people, including the PM, have lost that skill.
Sorry, rant over.
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Haall

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Re: The future for the UK Stockmarket & Sterling     27-Sep-09 12:26 PM    
Haall,

"The Scots were once good at finance but both RBOS and BOS have shown that these "canny" people, including the PM, have lost that skill. "

Ehm, some of us are still doing ok. Don't judge us by the few plonkers we sent down south - they couldn't get proper jobs up here.

Now what's that phrase "first cast out the beam out of thine own eye; and then shalt thou see clearly to cast out the mote out of thy brother's eye" oh no!! - another biblical reference and I've mention his his fecking eye - doh!!
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DB64

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Re: The future for the UK Stockmarket & Sterling     26-Nov-09 09:51 AM    
If you say so DB64, Scotland has been know as the land of the swinging lead for decades... in a way this underlies Browns "brilliant" economic policies too, the English will pay for us!

Substitute "canny" for have nay got a clue.
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Mike L

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Re: The future for the UK Stockmarket & Sterling     27-Sep-09 01:54 PM    
Haall is on cue - "What future for the fund raising ability of UK companies, and therefore the price of their shares, and also the level of Sterling, when the world's finances are arranged outside these shores?" 30bn Russian aluminium float to be centred on Hong Kong not London, also HSBC moving its centre of gravity away from London to same place. Very big straws in a very cold wind.


Sentiment : Strong Sell
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Cassandra

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Re: The future for the UK Stockmarket & Sterling     24-Nov-09 08:15 PM    
Simples.....

Financials follow where the money is and Hong Kong could be the perfect choice to head just that, in the heart of Asia.

The west is stuffed full of debt and the counting continues to grow fiercely, where paper money becomes less and less of any value.

The west is merely on a rebound it has alot further to drop yet!
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David the Gr...

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Re: The future for the UK Stockmarket & Sterling     26-Nov-09 12:55 PM    
To sum up Haall.......the words greed fraud and corruption spring to mind all perpetrated and overseen by a mentally ill bully.....Brown
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JOHN

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Re: The future for the UK Stockmarket & Sterling     26-Nov-09 06:24 PM    
Very true, financial.

As to the future of the UK stock market. What do you get if you pump funny money into anything. A temporary high followed by a total loss of confidence. The 3% fall and almost 200 point drop today signals the first signs of the realisation that fundamentally we are screwed! Louis was close with his 5500, but at some point in the not too distant future the whole thing will come crashing down.

Of course they will try to keep interest rates as low as they can for as long as they can but the issue here is that the only reason we are getting away with it at the moment is because interest rates are low everywhere. That will not continue especially now most of the world is no longer in recession.
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Mike L

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Re: The future for the UK Stockmarket & Sterling     29-Dec-09 08:16 PM    
Low rates will continue as long as QE continues.... when a discontinuation of QE emerges so will low rates, they will go up, up & away!!!
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David the Gr...

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