Wednesday, February 16, 2011

Can you feel the anarchy?

China invades the UK

China invades the UK © fintag

News comments:
I am as optimistic as the next Barclays banker.

Bankers have had a tough time recently and it is nice to see them enjoying themselves again. BarCap employees are getting a 20% pay rise to help them get over the stigma of being part of the most hated group of people on the planet. Meanwhile, just a few blocks away from Canary Wharf, another poor immigrant gets to enjoy the benefits provided by the extra tax BarCap pay. Or not. This coalition government will be using this tax to pay the extra interest on its gilts because the man at the Bank of England running the finances is out of his league.

If you woke this morning and you were presented with these facts, what would you do?

The Bank of England says it will keep rates down despite inflation rising rapidly because it doesn't want to upset homeowners.

The Bank of China, a communist country that doesn't understand what a human right is, brazenly waves its flag over the Bank of England in the City of London as if to say "Don't worry Mr King, we will buy your gilts to add to our huge government debt portfolio".

Spurs beat AC Milan and may win the Champions League.

Yep, like me you would go back to sleep.

Today's shorts:
Goldman to abandon trading (bloomberg)

Inside trading doesn't pay (finalternatives)

Trade Unions to nuke Canary Wharf (ft adviser)

Protium comes back to haunt Bobby Geezer (telegraph)

Today's longs:
Binge Drinking pushes up Lager Company's profits (bloomberg)

Beers all round at Barclays (business week)

Ben Bernanke to carry out a job swap with Mervyn King.


Leonardo said...

I don't know if it's funny or not but the Bank of China is right next door to the Bank of England