Saturday, 8 November 2008

boris bottles it big time

Poor Boris Johnson. The one person further to the left than Ken Livingstone ... and poor London's stuck with him.

What's the duffer gone and done now? Only cancelled nearly 3bn quid's worth of tramway development in London. What is he thinking of? And to replace these superb schemes - more buses (LOL!) and more provision for walking and cycling (cheap).

It's simple. A city isn't a city without trams. It's a joke. The problem was the plans just scrapped by Boris were nowhere near ambitious enough. London doesn't need a few km of tramways here and there, but a huge network reaching every corner of the city, plus extensions into commuterland, to totally replace the road network. Perhaps backwards-looking Boris simply doesn't get it.

London WILL get its trams, or die. It's just going to take a few more years than expected.

Bye bye Boris. You were fun for a week or two ...

Originally posted on Panther Bites!
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wrong direction

What the fuck is going on? How could apparently professional people, some with an economics background, drop interest rates by 1½%? It's madness - and here's why.

The banks are cash poor, that's why they are not lending to each other, let alone anyone else. To increase their balance sheets they need to draw in cash - and lots of it. To get that cash they need to offer high interest rates. Interest rates should be going UP, not down.

The second part of the equation is that the world is in an economic mess because of cheap credit. Yet our idiot government's cure is - make credit cheaper.

This is a potent moment of danger for the UK.

Those companies that depend on cheap credit, rather than cash reserves, should GO TO THE WALL, not be bailed out by this weak government.

Again, to flourish, hold gold, silver, oil shares with value, land, skills, seeds and friends. This is going to get a LOT worse.

Originally posted on Panther Bites!
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