[Sixstrings]

$this->bbcode_second_pass_quote('', '[')b]Interest rates could be slashed to zero for the first time in UK history as the Bank of England battles the deepening recession.

Governor Mervyn King said he is ready to reduce rates to ‘whatever level is necessary’ to counter the economic storm.

He warned Britain’s economy could shrink by at least two per cent during 2009, pushing inflation into negative territory for the first time in almost half a century.

A worst case scenario could see a slump of over three per cent in gross domestic product (GDP) - the biggest year-on-year fall since the beginning of 1981.

[Concerned]

$this->bbcode_second_pass_quote('Sixstrings', '')$this->bbcode_second_pass_quote('', '[')b]Interest rates could be slashed to zero for the first time in UK history as the Bank of England battles the deepening recession.

Governor Mervyn King said he is ready to reduce rates to ‘whatever level is necessary’ to counter the economic storm.

He warned Britain’s economy could shrink by at least two per cent during 2009, pushing inflation into negative territory for the first time in almost half a century.

A worst case scenario could see a slump of over three per cent in gross domestic product (GDP) - the biggest year-on-year fall since the beginning of 1981.

[kokoda]

Next step is that they will pay you to take their money.

[Kristen]

When will they grow some balls and explain that the whole Lasse-Fair Capitalistic way is flawed. There are limits to growth. Its so simple and apparent.

If they really do hit the zero mark, good luck getting back up there champs.

[Eli]

They need to finish that statement.

We will slash interest rates to zero but it won't matter because you will be out of a job.



You can slash rates all you want but broke is broke no matter what the vig.

[Kristen]

It sounds like you've left me with only two choices Eli, my firend.

a handful of valium or a handful of xanax.

[threadbear]

$this->bbcode_second_pass_quote('kokoda', 'N')ext step is that they will pay you to take their money.

[Eli]

Now Kristen that is no way to think.

This is bad, but it all had to end, people had a very distorted sense of reality. We all were liven too high on the hog.

At the end of the day there will be a new heaven and a new earth and there will be no more death or mourning or crying or pain, for the old order of things has passed away.

[Eli]

$this->bbcode_second_pass_quote('threadbear', '')$this->bbcode_second_pass_quote('kokoda', 'N')ext step is that they will pay you to take their money.

[ReverseEngineer]

$this->bbcode_second_pass_quote('threadbear', '')$this->bbcode_second_pass_quote('kokoda', 'N')ext step is that they will pay you to take their money.

[Twilight]

Unfortunately on this occasion the BoE / UK government is not obviously lying. They have pre-announced ZIRP, unfunded tax cuts, higher public sector borrowing, Keynesian deficit spending on infrastructure, all the support the banks need, and branded deflation an enemy. I believe they mean it. Until the mass defaults begin, the GBP will continue to go down the toilet. Based on where we are on the timeline in relation to the way things unfolded in the US, that "recovery" could be a year away and would only herald defaults exceeding the government's ability to fight fires. In the meantime our currency tanks.

One thing ZIRP does not fix is the unfinished construction on which recovery will be zero. Plenty of dark complexes out there for me to wonder who has that on their books. Who had that on their books before the taxpayer got it, anyway.