This site is English – get used to it…

Greedy, mad, swivel eyed loons

Manor House in color

This week the share price of Lloyd’s Banking Group went over 60p and so the government has reached the break even price for it’s shares. Royal Bank of Scotland made some gains too, so the government could get it’s 66 billion back that it pumped into those banks.

It renewed my faith in human nature, I knew they would intervene behind the scenes and those share prices would go up. My faith in the greedy, mad, swivel eyed loons is restored.  Anyway, although Royal Bank of Scotland still has a way to go, I bought Lloyds at 30p, so I made a few quid this week…

Head teachers this week were upset with Michael Gove. One head teacher  said colleagues felt they were living under a culture of “bullying and fear” as they waited for Ofsted inspectors to arrive. They should try being inspected by some officious prat at the Jobcentre or worse assessed by Atos Healthcare. I know, let’s have Ofsted assessing the sick and disabled and Atos assessing head teachers! Anyway, Mickey Gove’s reply was, “If you think Ofsted is causing you fear I am grateful for your candour, but we are going to have to part company.” At which point, a delegate shouted: “Are you leaving then?” If Agnes Brown had been there she would have said, “that’s nice.”

Denmark won the Eurovision song contest. I voted for the turnip… I mean the swede…

Who was that in the mini-dress that looked like it had been through a shredder? She was good if you pressed mute on the telly…

The Public Accounts Committee heard this week that Google paid £6m in corporation tax in 2011 despite sales of more than £3bn annually, as most sales are routed through Dublin. Miliband wants to take action to stop these multinationals avoiding tax. If we had a lower rate of corporation tax in the UK than Ireland, then they would pay it in the UK on their profits from Ireland. But then Ireland would cut their corporation tax and we would have to cut ours again. That could keep going on until the world abolished corporation tax and no country stood to gain from low corporation or income tax rates. Then we could abolish income tax too! Then we could have an internationally agreed financial transactions tax and a VAT rate that was the same globally. Could an international agreement work?

“That’s nice,” as Agnes Brown would say…

The government’s ‘help to buy’ scheme is stupid. Under the plan, due to run until 2017, the state will guarantee up to 15% of a mortgage on homes worth up to £600,000. They’ll never learn. If you create demand with loose money in the housing market, prices go up. Kids in universities understand the concept of supply and demand governing prices, why don’t politicians and their economist advisers?

There was a plan to use the money to build more council houses, instead. David Cameron seemed to like it. He said, “That’s nice…”

Please comment and share your thoughts…

One response

  1. Pingback: Bank holiday blues | Mike10613's Blog

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