Bank of China announced today that it was going to issue around 28 billion new shares in an effort to raise 8.9 billion dollars. 28 billion new shares will dilute the value of what present share holders have. In this case by about 10%. Trading in BoC shares was stopped until 5th July. Presumably to …
Well it’s always stupid to say this is it, we’re at the moment when it all falls over, because if the last two years have proved one thing, it is that our bankers and governments will do anything no matter how insane, to keep the game going a little while longer. But, that said, I …
Unemployment in the UK is about 2.5 million according to offical figures. Which are always rather conservative. That is a rate of around 7.6%. According to recently leaked figures, the Treasury estimates additional job losses over the next five years, due to austerity measures, to be around another 1.3 million. An increase of about 50%! …
European stock markets are heading down again, extending the already dramatic losses which continue to sythe round and round the world, day after day. One much noted response to these losses, from the Fed, was to publish a somewhat petulant article admonishing all right-thinking citizens not to pay any attention to the unauthorized, rabble rousing …
