A mixture of sad and pathetic

1 mins. to read
A mixture of sad and pathetic

Moody’s have reduced the UK government’s credit rating from AA1 to AA2. Their argument is that Brexit will make it harder for the UK to repay.

This is surely nonsense since all the Chancellor of the day has to do is take out his pen and sign a few cheques. Any fool can do that since the Chancellor can be certain that HM Treasury’s cheques will not bounce. Of course such an action may lead to inflation but the creditors cannot claim that they have not been repaid.

I expect Moody’s are in the pay of the Remainers. It’s hard otherwise to see what the basis of their argument is.


Sadiq Khan seeks to stop Uber trading at ten days’ notice. He must be mad.

Yesterday’s SunTel reported that a competing firm, Lyft, has been in touch with TfL to provide a similar service and, no doubt, TfL thinks that this justifies TfL’s conduct. It’s a mixture of sad and pathetic.


A relation is a pilot with Ryanair. As he describes matters, Ryanair have treated their staff contemptuously. Apparently O’Leary compared pilots to lemons which were squeezed of all juice and then thrown away. This is all very well but should the pilot worms turn they might be really vicious: it is not wise to be contemptuous of sincere endeavours. What is worse for Ryanair is that its customers may have had enough of Ryanair’s attitude as well.

Finally, there has been extensive anti-bitcoin commentary of late. I would have gone along with it were it not for the fact that seemingly it is impossible to print off bitcoins at will – i.e. the issue really is restricted to 21m. You have to believe that this is the case to buy bitcoin. Some do and others do not. I fall into the first category.
If bitcoins really catch on as a crypto currency the price can go anywhere. The answer is probably not to put in too much money. Now a little under $4,000.

Comments (2)

  • Angus says:

    I know nothing of Bitcoin, so can you clarify 2 things please 1. Why are the number of bitcoins restricted to 21m? And 2. If and as the value increases doesn’t it restrict the usage for less valuable items, or are there sub-divisions (pence/centimes) equivalent.

  • Gordon Watson says:

    I don’t think Sadiq Khan is mad. He probably thinks he made a mistake getting the Mayor of London job as by waiting a few months he could have been given a senior position alongside Corbyn. Make no mistake his aim now is to become leader of the Labour Party believing he can unite the Party and replace Corbyn. Meanwhile, he does what is necessary to create a good image for himself with the London electorate.
    Frighten Uber into complying to TFL demands and then placate Uber users, particulalrly the young by encouraging , ‘return to the fold’ talks.
    I expect him to jump on the PFI bandwagon. I have been pressing my local MP for a comsiderable to investigate the legality of the NHS borrowings and high interest payments. I suspect a large number of PFI contracts are no longer valid because the borrowing entity has been replaced , my local trust went into what was described as Administration some years ago. I think some rights could be transferred but liabilities would only be covered by novation and this did not take place. Of course, no politician wants to put PFI in doubt because it is an easy way of raising funds and they do not bother about the 8 – 10% interest the hospitals are required to pay now and in the future.

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