The pound tumbled today after gloomy figures on mortgage lending compounded worries about the impact of a potential hung parliament.Not that we're any better -
Sterling dived more than two cents against the dollar to $1.5021 and also hit a one-and-a-half-month low against the euro of 90.63p. The Bank of England said mortgage lending rose faster than expected in January, up £2 billion, but the number of approvals fell from 58,000 to 48,000.
Controller John Chiang said last month that California may be forced to issue IOUs for the second year in a row because it’s spending more than it collects in revenue. The bill is aimed at preventing cash shortages projected as soon as next month by empowering officials to delay certain payments, including those to schools, universities and local governments, to conserve money for debt service and other key expenses.
The Real Effect
As I posted on Thursday, (despite the invalidity of it being retracted by the press as a hoax)
All the chess pieces are being set in place: the angry robbed world public, the warring nations (Israel,Gaza, Iran, Syria, US, Russia, China, Pakistan, India), the spiritual void, all of this will give way to a great war which will dwarf all wars up until this point. At which point a great Phoenix event will occur which will burn the world into adoring submission.
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