Your Money Will Sleep With The Fishes

Federico Ghizzoni sounds like somebody who might wear a black fedora, carry a violin case under his arm and hand out business cards announcing he is ‘something in the Olive Oil business’. Sen. Ghizzoni is in fact the CEO of Unicredit, and part of his job description is to make sure that little nest egg you worked so hard to accumulate ends up in his lunchtime omelet.

Ghizzoni made us an offer we couldn’t refuse yesterday when he said that it is “acceptable to confiscate savings to save banks.” Anyone who disagrees will find themselves sleeping with the fishes.

He said that savings which are not guaranteed by any protection or insurance could be used in the future to contribute to the rescue of banks who fail and that uninsured deposits could be used in future bank failures and government bail outs provided global policy makers agree on a common approach to such Mafia tactics. And yes he means you lefties and Labour voters, fair shares for everyone eh? No, supporting same sex marriage does not buy you an indulgence, it just proves you are emotionally crippled as well as stupid.

OK you collectivist lefties, hands up now those of you who still think it’s a good idea being one big, happy nation all joining hands and singing Kumbaya while these kleptocratic shits steal all you’ve ever worked for?


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Your Country Needs You To Spend, Spend, Spend

Disturbing news from those omnipotent gods, the economists.

They have identified the people responsible for the current lack of economic growth, remember we are the only G20 country still in recession.

And it’s all down to those irresponsible people trying to reduce their debts, or heaven forbid, actually accumulate some savings.

But could this be because when credit was cheap us Brits went out there and well, spent for England as they say.
According to the Organisation for Economic Co-operation and Development UK households owed a gobsmacking 180% of their total net disposable income.
As a comparison US households owed 130%, French 100% and German 98%.

The problem is that whilst we are doing our best to stay solvent, the economy is going nowhere.

But don’t worry, I’m sure it won’t be long before Gordon dreams up a savings tax and a tax on those who reduce their debt to manageable levels, the monies raised to be distributed to the feckless in the form of vouchers to be spent on things they didn’t even know they needed, but obviously they must do because somebody has gone to the trouble of making them.

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