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FTSE down under Labour: From 4445 to 3691. Dive dive dive.

On the 1st of May 1997 the FTSE 100 closed at 4,445.00 today its 3,691.23. 

That's down 753.77.

So as the FTSE helps pay for all our pensions, and is a vital indicator of the health of the UK; it reflects badly on HM Govt policy over the last 12 years.

Oh sorry I forgot, the glorious one eyed leader claimed that it was all the fault of those nasty Yankie imperialists, that he saved the World sorry the banks.

That with a bit of quantitative easing or printing money in common speak, all will be well. 

Roll on the Weimar Republic....again.
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2 people have spoken:

James D said...

But is there any reasonable alternative to "quantitative easing" now? I'm no fan of Brownonomics, but this is a nasty situation with limited options.

Fidothedog said...

Yes we need a mega cull of public sector jobs, at least 300,000+ One day it will have to happen anyway, both Labour & the Tories know and both don't want to mention the public sector elephant in the room.

Add to that massive cuts in services, if we don't the crash will be just so much harder when it comes.