Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

So our illustrious leader is set to increase government borrowing yet again.
If GB Ltd was a company I wonder what rating an agency such as Standard an Poors would put on the company.

If you look at the following,

AAA : the best quality borrowers, reliable and stable
AA : quality borrowers, a bit higher risk than AAA
A : economic situation can affect finance
BBB : medium class borrowers, which are satisfactory at the moment
BB : more prone to changes in the economy
B : financial situation varies noticeably
CCC : currently vulnerable and dependent on favorable economic conditions to meet its commitments
CC : highly vulnerable, very speculative bonds
C : highly vulnerable, perhaps in bankruptcy or in arrears but still continuing to pay out on obligations
CI : past due on interest
R : under regulatory supervision due to its financial situation
SD : has selectively defaulted on some obligations
D : has defaulted on obligations and S&P believes that it will generally default on most or all obligations
NR : not rated

Did not take this government long to go from at least a single A to pushing SD, after all they are on rating R as the EU still have the UK on regulatory (in theory anyway) watch re the borrowings percentage of GDP.
GB if a company is Bankrupt, morally as well as financially.

It is about time the CEO (Brown), Treasurer (Darling) and the rest of the board were voted out. If only.

Tongue in cheek comments perhaps but I did say If GB was a Ltd company.

Good Luck to 49yr old Yves Rossy, or 'Fusionman' as he is known, in his single jet-propelled wing channel crossing later today.

He leaves Calais in a small plane, jumps out at 2,500m, and hits 'Start' on the 4-burner kerosene fuelled jet turbines on the 2.5m long, (this weighs 55kg when loaded with fuel) wing attached to his body.

His speed gets up to around 125 mph and 12 mins later he is due to arrive at Dover at circa 1pm.

Upon arrival in the right vicinity, sorta kinda, Yves turns off his jets and turns on his parachute.

Sounds like an utter doddle to me. Anyone could do it.

He's canceled for today - apparently its too misty in Dover. But he's going to try again tomorrow. You can watch it live at http://jetmanlive.com

Can't see what he's doing? Chickened out more like. ;-)

Anyhow, back to the lawn. I treated it with fertiliser a few days ago and missed a big chunk. So 85% is now green and 15 % is, well, not as green.

But I'd be alright flying one of those jet pack wing things. Not all that much harder than fertilising the lawn, I reckon.

:-)

What he's doing is easy. He's got power.

This guy gets the award for bravery, or will it be a Darwin Award? He will be jumping from 2,500 ft with no power and no parachute, relying on a special suit which he thinks will enable him to survive the experience. That is provided that the suit slows him to 70mph, and that he manages to find and land on a particular special runway at the correct speed, position and angle. If he manages all those things he will 'survive the landing'. If he doesn't manage to do all those things he will go splat.

Is it a bird? Is it a plane?

Form an orderly queue after me and the US government

I doubt I will ever have grandchildren. My kids are far too ugly to attract the opposite sex.
But if I do, will they learn in their history lessons how 2008 was the start of the death of free market capitalism, and the conception of a new, protectionist, national socialism?
The nationalisation of Northern Rock, and now B&B. The $700bn bail out by Uncle Sam. The Alitalia merger. The moves to only allow investing, not shorting. The government plans to allow councils and housing associations to buy up houses and let the sellers remain living there. The extension of grants to homeowners to alleviate fuel issues. Discussion of greater central bank powers to set budgets and borrowing levels.
I'm just feeling a touch concerned that there is a general drift towards protectionism and nationalism, and all the bad old ways of doing things. Gobby people in bad cardigans arguing round a table for ever before anything gets done, and when it does get done, it is logically correct but somehow entirely wrong.
We all know that a protectionist, national socialist design for a racehorse ends up being a camel.
Can't quite put my fears in words, but I fear for the longer term future, of those grandkids I haven't got.

Just returned from Hols in Egypt.
As usual was followed round by the locals, adult as well as kids, hands out shouting نقود (money).
Tried to explain to them that as the UK was deep in the financial **** I had no spare money, but they would keep pestering me, so in the end I gave in.
Did not like to take their money but they looked at me with so much pity.
Total received after 2 weeks was only about 20 Egyptian Pounds (2) but I suppose it was all they could afford.

Remember Labors signature tune at the last election. 'Things can only get better'

Talk about a haunting melody, coming back and bitting you in the ****.

lol. well said greekman

Totally beyond belief. Apparently, according to the news on TV, a number of local authorities had accounts with Icelandic Banks and are exposed to the tune off many millions, 100+. What ever is the matter with these people who obviously have no idea about risk when handling other peoples money. They probably look at the higher interest rate and then go for it. They are not covered in anyway and have written to the Chancellor to tell him of their plight. For the amount of money they are dealing with any of the major UK banks would have loved the business at reasonable rates. Needs the old school back, or perhaps its too late. Be interesting to learn which the Councils are involved.

In my opinion most Council members are just in it for themselves, and when it comes to professionalism they fail miserably.
After last years floods Hull City Council had to admit that to save money many areas of the city that were flooded were not covered by insurance.
How the hell a council with it's massive buying power could fail to ensure properties were not covered by basic buildings insurance beggars belief.
Still the same council spent/wasted many thousands of pounds on a so called art structure for the city which resembles a (what some locals call) very large stench pipe.

We'll need loans to pay our council tax soon - anyone know a good lender?

'Town halls across the country may have to raise council tax and cut services as the repercussions of the collapse of the Icelandic economy broadened into a diplomatic row with Britain. '

http://www.timesonline.co.uk/tol/news/politics/article4910126.ece

We may now get our own back for them stealing our cod and inflicting Bjork on us. about time. I've never gorgiven them for either. Sue the bastards, I say.

'The Government used anti-terrorism powers to freeze an estimated 4 billion of British financial assets in Landsbanki, Icesaves parent bank. A spokesman for the Treasury said that the 2001 Anti-Terrorism, Crime and Security Act was invoked as a precautionary measure. '

'Mr Darling expressed incredulity that Reykjavik was cold-shouldering British investors. The Icelandic Government have told me, believe it or not, they have no intention of honouring their obligations, he said. Britain started legal action yesterday in an effort to recover money belonging to Icesave customers. '

not sure what to make of all of this as i dont often read newspapers or watch a lot of tv etc.
but from what ive picked up it seems to me the government and media have and are handling news of the financial ' crisis' pretty well. maybe not the dealing with it etc. but thats another story.
what i mean is the informing us about it. we are now all aware of the enormity of it all.
maybe its got to the point where they just couldnt hide it from us anymore. guess it has. which leads me to wonder how long they may have been trying. the longer the worse it gets.maybe they werent aware themselves, maybe they were.
anyway i think we have all now been primed to expect some tough times ahead and some hard hitting policies from whoever governs.
thats my ramble over.

Anyone interested in the big US debate? I watched some of it and I can't believe any sensible person would vote for Palin/ Mcain. She comes across as lightweight no real contribution just nasty cracks against Obama and Mcain seems doddery, desperate and again nothing but nasty cracks against Obama. If they elect that pair head for the lifeboats!!

Yeah. Let's start a revolution to stop people pissing our money up the wall.

Start here with this typical example.

I've got my head buried in the sand about exactly what to do about this kind of stuff, so you go first.

Sh*t! No wonder she's smiling Exec!

First thing to do is persuade her it might be foolish to smile about it ;o)

Sign seen in a local gift shop with different types of piggy banks displayed in the window. 'Why not put your money in the only totally safe banks left in the UK'. Sad yes, but possibly true.
On a serious note, I wonder how these new banks, (you know the 'Brown and Darling Bank PLC') will make out. Hate to think where we are headed if they don't.

Not exactly got the best record to date have they?!

HI ALL BACK AGAIN LOL. I HAVE DECIDED GIVE SOME ADVICE WHICH IS RARE I JUST VOICE THINGS BUT DON'T OFFER ADVICE. OKAY THE PRICE OF THE FTSE IS APPROX 4100 RIGHT NOW AND YES IT COULD HIT 2700'S BUT IF YOU HAVE ENOUGH MONEY TO COVER TO ZERO SO 4000 AT 1 PER POINT WILL COVER EVERYTHING AND YOU WILL STILL GET SOME INTEREST FOR HOLDING SHORT IF IT GOES TO ZERO. YOU UNDERSTAND WHAT I MEAN. THE FTSE WILL NOT DISAPPEAR UNLESS MANKIND DISAPPEARS TOO. SO IF YOU BUY NOW OR LOWER AND HOLD FOR THE FUTURE, YOU CAN SECURE A TIDY NEST EGG FOR YOUR CHILDREN YOURSELF OR WHATEVER. IT WILL GO BACK UP FOR SURE JUST DON'T GET TOO GREEDY AND OVERSTRETCH YOURSELF.

2 Points;

Firstly, UK plc have bailed out the banks. For the good of the nation, and in a show of equity, surely they now have an obligation to provide assistance to familys losing their homes by offering similar help and protection from eviction due to mortgage arrears. It would seem reasonable to square the circle.

Second. Last night my 15 year old daughter did something very unusual. She made a statement of profound insight that left me scratching my head.
We were discussing something or other and I said the old saying that "In the land of the blind, the one eyed man is king".
She asked why. I told her that because he could see, he would be treated as a gifted deity, and the population would do whatever he wanted.
She asked why again. She went on to say that the population would have no idea he had one eye, as they were all blind, and that he would more likely be treated as either a downright liar or locked up in a mental home as being delusional.
My witty reply?
I didn't have one. I had never thought of that.