USA rating cut and the others?

OK so the USA credit rating has been cut to AA+.
So now the question is, what about UK,Spain, Italy, France, Belgium, Netherlands, Germany etc

In my view the USA could have been cut to a single A rating.

This will be a short term panic.
Why? it all levels out. If all the main countries start to have lower credit rating according to the Credit agencies calculations, then where is the new benchmark? eventually the benchmark will be lower and we start again from a lower range, so the USA can be marked up again to AAA!
God forbid if the Chinese Remimbi becomes the reserve currency, that will be the end of the USA power!

Riots in London are NOT a surprise

The London riots are NOT a surprise really are they? Expect more
I have been saying for months now that something has to give.
Surely the government cannot be surprised bearing in mind the Austerity packages and the lack of recruitment for police!
If they are then they are stupid.
Although most of it are by Anarchists and trouble makers, but it is still started by Austerity packages and peoples lack of living and money for food for the family.
Remember I said utilities have gone up by 75% over the past few years.
It all adds up!

The next in line as I again have said is the invasion of the Falklands !!
1. We won't be able to do anything
2. The govt will hand over in the end.

One way to get the economy going again

I think I have thought of the reasons that the UK cannot get it's economy back on track.

I was thinking last night of a way that the UK Govt could get something back on track.
We have very little in the way of manufacturing now. i.e we sold Car making, Iron founderies and businesses,
we have sold the mobile communications, we have sold Utility companies, we have sold part of the National Grid.
These were fundamental years ago for the Govt to manage it's economy. Now it's gone!

So what have we left? Quite honestly very little, which is the crux of the problem.
So I thought last night that we could build more houses. We need them!
This will boost the construction trade. the carpenters, the brickies, Garden planners, shops for furntiure, décor etc.
This will be an excellent start.
I then thought about another fundamental problem. 95% of all builders on the Olympic site are foreign and mainly Polish.

This would counteract the solution above. Why?
Well the foreigners will send their money home and spend very little in the UK, which probably why we don't here countries like Poland,
Latvia etc having such economic problems, we are funding them!

So for this to work, we have to use common sense and go back to a bit of protectionism as these foreign countries keep, eventhough they are in the EU.

We should have the government build houses, but only use national craftsmen and builders.
The builds will have to be of a reasonable cost.
This will then attract first time buyers which will then get the market moving.
House prices will remain lower than rising due to not enough hosues available.
This takes people off the dole.
It keeps the economy in-house

So IF the government has an ounce of common Sense this is what they should be looking at.

Euro catastrophe

Dear All

to the many regular readers, you know my views on the Euro.
I ask again. How can One Central Bank make overall economic rules, set interest Rates and make policies for the economies in all of the Euro countries, when each country has a different culture, different economic structure ( i.e. manufacturing, services, tourism).
What we are seeing now is the culmination of all of these mistaken Eutopian views.
As I have said before it is doomed!!

I know you all think I am an opinionated, But I am laughing now! I am good at my job.

Hackers attack 72 organizations

http://www.telegraph.co.uk/technology/news/8678492/Hackers-target-72-organisations-in-biggest-cyber-attack-in-history.html

Have I not warned you all?
It Isn't coincidence that the Chinese buy into Grid companies and then hacking goes up on the internet.

This is just a reminder of what I have said previously!!!

Prime Minister's Holiday

I don't know about anyone else, but I have never known a Prime Minister to take so many holidays. This must be his 4th in a year and has mentioned he will take another!
Does this mean we only have a part-time Prime Minister?

HSBC cut 30,000 jobs

So HSBC is cutting 30,000 jobs over the next years till 2013.
First of all it was expected as 10,000.
It appears that they want to give jobs to the cheaper labour countries in Asia, most have no banking background.

Announcing better than expected first-half pre-tax profits of $11.5bn (£7bn), $600m more than City analysts had expected,
HSBC said it had already cut 5,000 jobs and would be making a further 25,000 “role reductions” within the next two and a half years.

What people don't realize is that the move out of the UK is mainly 2 things:
1. UK tax
2. China is a bigger force than the USA and having left HongKong it may be that the chinese are wooing them back.

So I think that you can expect many more jobs to go.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8674512/HSBC-to-cut-30000-jobs-in-Asia-push-as-profit-jump.html