Well I must eat my words of my previous post as the Bank Of England makes a U-turn and injects £10 billion into the market in an attempt to bring down short term interbank lending rates, see ft.com – BOE U-Turn
Mervin King will have some interesting explaining to do this morning in front of the Treasury Select Committee.
The other surprise this morning was the sudden departure of Jose Mourinho from Chelsea, see Mourinho departs Chelsea; the low crowd of 25,000 for their last 1-1 home Champions League draw with Rosenberg and their mediocre position in the Premiership is simply too weak a level of performance for Abramovich. No doubt Mourinho will move on the Real Madrid or Barcelona. The toughest job in football is vacant. Anyone interested?
This has all been pre-arranged to get those in the ‘know’ a slice of the ‘Babyboomers’ money by default.
Cause a financial scare= Shares drop.
Government half implies things will get better = Shares drop further.
Bank of England ploughs rescue funds back in = shares start to go back up because now all those ‘In The Know’ are buying them up for next-to-nothing with all the BabyBoomers losing out big-time.
Just a thought.
Pete.
Pete, I would not agree that it is pre-arranged. When there is a sniff of blood in the water the sharks come calling. The outcome is exactly as you say.