Euro zone rallies after good news from the ECB

Posted on: 01 July 2010 by Editor at Large

Not long after the election and Labour are already attacking Coalition policy

Labour’s pain at losing the election is still very evident when you see former ministers trying to rally coherent opposition to the policies of David Cameron and Co. Leader of the opposition, Harriet Harman, launched a spirited attack yesterday but was quickly shot down by the prime minister as he regaled her with Labour’s mad polices and expenditures. The best one being £90,000 for a two tier ‘pod’ for staff to rest in and ‘regain themselves’!

This vulnerability will not last long as the new government’s cost cutting strategy starts to bite. This will re-energise Labour and the trade unions. Already the RMT boss (Bob Crow) is calling for a strike but not yet a General Strike! The cuts being made will inevitably bring this type of response and may well lead to industrial action.

My view is that deep down most of the population realize that Labour made a right balls up and the party is now over. One person who was very quiet sitting on the front bench beside Harriet Harman was Alistair Darling. I imagine he’s still wondering why nobody in the City has offered him a job yet. I’d be happy to tell him!

Still falling!

Latest news from the market is that the feared problems with European banks borrowing has not materialized and the Euro gained against the Dollar and Sterling. World stock markets had fallen in anticipation of bad news from the European Central Bank  (ECB) regarding the uptake of the renewable credit line of 430 billion Euros. Now it seems the markets are strengthening and the ‘Global Double Dip’  has been postponed! Sadly, I fear, it will return.

I don’t believe all the banks’ financial problems are out in the open for all to see. I for one will be keeping what money I have in a safe place – under the bed. The stock market at the moment is for brave men and fools.

Life passes by so quickly!

To think it seems it was only a couple of weeks ago that my eldest daughter gave birth to my first grandson – George. For the life of me I don’t understand how this gangling youth is already old enough to be working in our office on work experience!

Those 16 years went so quickly yet the memory of the wet night on the maternity ward seems so real and so recent. When I get maudlin about the passing of time I sit and count from one to sixty-five and remind myself that's how many years i've already lived. If my anxiety continues I work it out in months, weeks, days, hours and finally seconds. If all this fails I pour myself a whisky and say ’Sod it!’.

Still it is nice to see your children and grandchildren grow up and watch them as they learn, trip and flounder on the very same things as you did and  knowing that they will sort life out in the same way - trial and error! Life is too short and when it’s over we have only used half our experience in a productive way. Woody Allen had it right - he said that we should be born old and progressively grow younger until we die in a glorious climax!

And my good friend Sally often reminds me that aging is still better than the alternative!

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