Monday 8 August 2011


 FTSE down 3.39%
DOW down 5.5%
NASDAQ down 6.9%

FTSE futures at -200 for the morning.

Croydon burns, hope Mr Drew is still in Germany.

Only Monday too. they call August the Silly Season - a very odd kind of silly this year's vintage.


Dick the Prick said...

London's birning, London's burning, don't send the engines.

On a funny though, Michael Moore is blubbering on that Obama should arrest the head of S&P - yup, that'll sort it!!

Steven_L said...

Time to start a rolling program shorting gilt futures and UK STIRS I think.

STIR futures have gone into backwardisation!

Budgie said...

Economically, the socialist model has clearly failed (UK: 50% GDP spent directly by the state, the rest controlled by state laws).

Socially, the socialist model has failed (the importation of millions of people who either don't give a damn about this country, or who are thoroughly hostile to us).

Electro-Kevin said...
This comment has been removed by the author.
Electro-Kevin said...

All born of a hatred by the ruling Left-wing middle class (practically all middle class actually) of the aspirant working class - the undermining of their wages, education and their culture through the importation of MORE working class and the replacement of working class fathers by the welfare state.

Britain has failed.

Didn't they do well !

Anonymous said...

Spot on EK

Listen to the Beeb or read the Guardian...

They have more empathy for the rioters than the people who's homes and businesses are being smashed up...

Laban said...

"Croydon burns, hope Mr Drew is still in Germany."

Good news! They've moved London's main airport from Croydon to Heathrow, so he can come back safely - safely at least until he heads into town.

If London starts to become ungovernable I wonder when the City will be targeted. Not so much to loot, though. Apparently Oxford Street being targeted now a/c/t Gadget's comments. And vigilantes aka local defence volunteers emerging - Turks and Kurds in North London, Muslims at Finsbury Park Mosque.

Houses being looted in Ealing. London sure is vibrant tonight.

Nick Drew said...

thanks for the thought, CU, but I am at home in Croydon & yet to find out whether the day's activities ahead are to be disrupted

Ms Drew (north of the river) encountered disruption last night but happily nothing worse

will report later: meantime everyone take care

andrew said...

Our culture supports the dreams of our children - telling them that if they just try hard enough they can achieve their heart's desires.

When they actually try to get a job, the disconnect is quite jarring.

When the chance of being caught behaving badly is low and the penalty if caught is relatively small, the likelhood of these events will grow. It seems that the main core rioters are young men 15-30.

For me, in 1962 the Kennedy assasination introduced the era of the modern lone nutter who is able to cause great destruction quite easily.

In 2011 we now enter the era of the flash mob who can use modern tech to organise themselves to cause great destruction quite easily.

The thing that oddly gives me some faith in humanity is that these things do not happen more often.

Sebastian Weetabix said...

It strikes me the basic function of the state is to maintain order, i.e. keep the lives of its citizens safe. The government is failing. I just listened to that useless Home Secretary talking about "Policing by consent"... consent, my arse. They need a curfew, water cannon, rubber bullets - and in the case of looters, real bullets. Condign punishment will stop it. If the police can't or won't deal with it, we should get the army out.

Anonymous said...

With this rioting going on it makes me wonder what became of all those coppers that were battling the miners, they were not local, no numbers or identification, where did they come from, the miners did not run rampant and burn everything in sight like this mob they were supposedly fighting for their jobs, it would have affected people in their own areas and their own people or people in mining areas. Maybe in this case should not those "police" who delt with miners etc be enabled and told to sort this mess out. Before anyone starts pointing the finger screaming lefty, I am not left wing or any other wing, I live in what was once a mining community.

CityUnslicker said...

Anon - those police are long retred, Police often retire at 55 and those riots were in 1984 - so very few coppers will be still serving who fought the miners.

Budgie said...

Anon said: "those coppers that were battling the miners". You sure it wasn't the "miners" battling the coppers? You say you are no "lefty", but you have clearly been influenced by the "lefty" viewpoint.

The miners were entitled to strike, they were not entitled to stop power stations or other people working. Scargill was the donkey leader, besotted by socialism, who (mis)led his men into a constitutional battle with the Thatcher government and lost. Good riddance.

I fully expected this latest opportunistic looting and destruction to be blamed on "the Tories, innit", but how quickly a "non-lefty" is to invoke the shade of the dreaded "Thatcher".

roym said...

im confused, are the right wing upper class a friend to the working classes then?
seems to me there are plenty of indigenous ne'er do well WCs happy to contribute naff all to our communities and subvert our culture

Timbo614 said...

Some relief maybe?
FTSE is up a few points and the CAC - DAX still taking a beating...

So now we wait for the DOW to open.. anyone got any Futures figures for the DOW?

Is this the bottom or just a Hiatus?