Well the Brits have posted there first January deficit since they began keeping records back in 93. Yet I am to beleive that they are not going to continue QE.

The EU has striped Greece of its voting rite in the next EU meeting and speaks tough on them getting there government finances in shape. All the while all of the EU is running deficits higher than the 3% of GDP cap aloud hahahahahahahahahahaha. This is like the kettle calling the pot black.

It seems to me that things are coming to a head here in March. It should be very interesting.

Meanwhile US bank credit has fallen the most on record and this brings out the deflationists again. They seem to forget that the US government is borrowing or printing record amounts of currency, not to mention most other western countries, so big deal.

I already posted resently that the bank credit was falling and would continue to do so for the foresable future because, those with good credit are unwilling to borrow and you can not make them, the rest of the populace has not the means to pay the banks back with any kind of certainty being overly indebted already.

All in my honest opinion of course.

F.F.