Sunday 8 June 2008

Sunday Business Aggregation - 8-6-08


The really worrying thing this week is the price increase in Oil by $10 this last two days. Mainly because I picked shares last week with the idea that oil would fall, like British Airways. Also though, I can see no way to avoid a very painful recession with oil prices at these levels. When I started this blog nearly 2 years ago i said that stagflation would be the result of Labour policies and now it has come to pass. The worry is that it accelerates over the next few months and we have a terrible economic situation.

The Sunday's all have this theme as their main points of business news, but there are some other good nuggets too;

Oil prices rocket - The Guardian has a good summary of the events which have hit the markets at the end of last week.

FTSE100 shake-up - More miners to enter the index, showing the full effect of the resource super-cycle.

India Fuel protests - A good example of Asian governments giving into the high prices too, inflation in Asia will slow the dragon rapidly and could undo much of the economic gains of the past few years. Still, outsourcing could retrench as a business.....

North Sea Oil - On the plus side, we have plenty of oil left with high prices, as long as the Government does not insist on hobbling the industry with extra taxes.

Stelzer's oil view - He thinks it will all be ok a decade from now. Shame we have to live through that decade though eh?

Hedge funds hide - None have signed up to the voluntary code. The old phrase comes to mind "money talks and bull...."

B&B hits rates - Stricken Bradford & Bingley raises mortgage rates. Egg gives up on the market all together. Not a good time to try and get a mortgage nowadays. The real question is...will we have waiting lists again like we did in the 70's?

Cars hit by negative equity
- Thanks ot excessive government taxes. Thanks Gordon and Badger!

Al Italia 'Fraud' - Everyone agrees saving this utter dof of a company is both illegal and irrational. With high oil prices the weak must fall in the market, national sentimentality can take a back seat.

BBC spin-off makes good - Working with China on the Olympics. And people say privatisation would be a disaster for our media market...

13 comments:

James Higham said...

Mainly because I picked shares last week with the idea that oil would fall, like British Airways.

Why would you have done that? You're in the City, right, CUS?

Nick Drew said...

Are you still shorting gold too, CU ?

Old BE said...

It's surely the change in the oil price that matters rather than its overall level? Oil stays high, industry develops new technology for overcoming it. A relatively simple matter of correction from the era of unrealistically low oil prices?

As for recession: bring it on, it might get the state to cut itself back down to a sensible size.

CityUnslicker said...

JH/ND - contrarian normally pays. I will review this tomorrow - still I think Oil will fall in the short to medium term.

Gold too, as long as the dollar rally continues....

am I so wrong?

Old BE said...

By the way, if B&B are having such difficulty raising capital, why have they not kept up their savings rates? Is it still cheaper to raise cash in the markets than from depositors?

DorsetDipper said...

How is Gordon responsible for stagflation in the UK given that most of the world is suffering from these same pressures? Do you think if Cameron or Clegg were in charge the prospect would be any different?

CityUnslicker said...

Dorset - yes I do as it happens.

With the splurge of public sector spending we have no room left for any fiscal measures to offset the current conditions.

We could not help the inflation but we could have lower interest rates if domestic demand had not been pumped with public sector spending or a big set of tax rebates to help support the economy in these difficult times.

Things would have been very different with a more fiscally literate government in charge.

Anonymous said...

I read somewhere that it is in fact the oil traders who are simply pushing up the oil price by their feverish activity in the futures market, while stories about shortages, difficulties in retrieving supplies etc may of course also have a bearing.

I wish I knew a little more about all this, but if that is so, can nothing be done to impose a temporary freeze on such trades? The Japanese for instance have banned futures trading in their rice, so why not others in oil?

The G8 meeting (as expected) came away only with buckets of yet more hot air; seems like a good opportunity to install some effective action went by unnoticed. Useful explanations or clarifications welcomed please.

Nick Drew said...

Not ready to call either oil or gold a short just yet, personally

Bill Quango MP said...

How is Gordon responsible for stagflation in the UK...

Raising taxes during a recession?

public net debt to 43.1% GDP?

the largest budget deficit of any industrial economy?

DorsetDipper said...

thanks everyone for the economics lesson.

I must admit I'd missed Cameron saying he was going to slash the public sector deficit or increase taxes. Could anyone provide me with a reference?

Anonymous said...

aaaa片, 免費聊天, 咆哮小老鼠影片分享區, 金瓶梅影片, av女優王國, 78論壇, 女同聊天室, 熟女貼圖, 1069壞朋友論壇gay, 淫蕩少女總部, 日本情色派, 平水相逢, 黑澀會美眉無名, 網路小說免費看, 999東洋成人, 免費視訊聊天, 情色電影分享區, 9k躺伯虎聊天室, 傑克論壇, 日本女星杉本彩寫真, 自拍電影免費下載, a片論壇, 情色短片試看, 素人自拍寫真, 免費成人影音, 彩虹自拍, 小魔女貼影片, 自拍裸體寫真, 禿頭俱樂部, 環球av影音城, 學生色情聊天室, 視訊美女, 辣妹情色圖, 性感卡通美女圖片, 影音, 情色照片 做愛, hilive tv , 忘年之交聊天室, 制服美女, 性感辣妹, ut 女同聊天室, 淫蕩自拍, 處女貼圖貼片區, 聊天ukiss tw, 亞亞成人館, 777成人, 秋瓷炫裸體寫真, 淫蕩天使貼圖, 十八禁成人影音, 禁地論壇, 洪爺淫蕩自拍, 秘書自拍圖片,

做愛的漫畫圖片, 情色電影分享區, 做愛ㄉ影片, 丁字褲美女寫真, 色美眉, 自拍俱樂部首頁, 日本偷自拍圖片, 色情做愛影片, 情色貼圖區, 八國聯軍情色網, 免費線上a片, 淫蕩女孩自拍, 美國a片, 都都成人站, 色情自拍, 本土自拍照片, 熊貓貼圖區, 色情影片, 5278影片網, 脫星寫真圖片, 粉喵聊天室, 金瓶梅18, sex888影片分享區, 1007視訊, 雙贏論壇, 爆爆爽a片免費看, 天堂私服論壇, 情色電影下載, 成人短片, 麗的線上情色小遊戲, 情色動畫免費下載, 日本女優, 小說論壇, 777成人區, showlive影音聊天網, 聊天室尋夢園, 義大利女星寫真集, 韓國a片, 熟女人妻援交, 0204成人, 性感內衣模特兒, 影片, 情色卡通, 85cc免費影城85cc, 本土自拍照片, 成人漫畫區, 18禁, 情人節阿性,

Anonymous said...

情色電影, aio交友愛情館, 言情小說, 愛情小說, 色情A片, 情色論壇, 色情影片, 視訊聊天室, 免費視訊聊天, 免費視訊, 視訊美女, 視訊交友, ut聊天室, 視訊聊天, 免費視訊聊天室, a片下載, av片, A漫, av dvd, av成人網, 聊天室, 成人論壇, 本土自拍, 自拍, A片, 愛情公寓, 情色, 舊情人, 情色貼圖, 情色文學, 情色交友, 色情聊天室, 色情小說, 一葉情貼圖片區, 情色小說, 色情, 色情遊戲, 情色視訊, 情色電影, aio交友愛情館, 色情a片, 一夜情, 辣妹視訊, 視訊聊天室, 免費視訊聊天, 免費視訊, 視訊, 視訊美女, 美女視訊, 視訊交友, 視訊聊天, 免費視訊聊天室, 情人視訊網, 影音視訊聊天室, 視訊交友90739, 成人影片, 成人交友,

免費A片, 本土自拍, AV女優, 美女視訊, 情色交友, 免費AV, 色情網站, 辣妹視訊, 美女交友, 色情影片, 成人影片, 成人網站, A片,H漫, 18成人, 成人圖片, 成人漫畫, 情色網, 日本A片, 免費A片下載, 性愛, 成人交友, 嘟嘟成人網, 成人電影, 成人, 成人貼圖, 成人小說, 成人文章, 成人圖片區, 免費成人影片, 成人遊戲, 微風成人, 愛情公寓, 情色, 情色貼圖, 情色文學, 做愛, 色情聊天室, 色情小說, 一葉情貼圖片區, 情色小說, 色情, 寄情築園小遊戲, 色情遊戲, 情色視訊,