"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Wednesday, December 03, 2008

Economic Cycles - this one is going downhill

In the 3 months ending August the heavily re-jigged figure for total unemployment rose by 154,000 - the fastest rate for 17 years .

The total jobless provided by the Office for National Statistics is now 1.79 million and the national rate of unemployment rose to 5.7%, up from 5.2% in the previous quarter.

The number of people claiming Jobseeker's Allowance rose by 31,800 to 939,900 in September.

British manufacturing shrank in November at the fastest rate since the figures began being collected in 1992.

The Purchasing Managers' Index fell to 34.4 from October's figure of 40.7, which was both the lowest level and biggest fall recorded by the Index.

The Bank of England will reduce base rate on Thursday .... then what do they do ?

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(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish