Archive for September, 2007
IMF Reports – “Markets recognizing the extent that credit discipline has deteriorated in recent years”
“Markets recognizing the extent that credit discipline has deteriorated in recent years”. Not my words but the words of the International Monetary Fund in their latest Global Financial Stability Report. They expect that the period ahead may still be difficult as bouts of turbulence are likely to recur and the adjustment process will take time.
The [...]
Supermarkets Colluded To Cheat Customers
A provisional report from the office of fair trading finds that large supermarkets and dairy processors have colluded to increase prices of dairy products which has cost consumers an estimated £270 million.
Whilst farmers were struggling and barely, if at all, making a profit the supermarkets were buying milk cheap and selling it expensive. It’s a [...]
Government Guarantee Savings In Northern Rock
The Chancellor of the Exchequer has just announced that the government will guarantee all of the savings people have in Northen Rock.
This astonishing, but welcome, announcement shows just how scared the governement is about the effects of seeing queues of people desperate to withdraw their savings on other consumers, savers and on the image of [...]
