Posts Tagged ‘gravy train’

@number10gov where our pension funds are going.

July 24, 2012

Another piece from Fullermoney. If you want to know where your pension money is going, look no further.

Politician’s scrambling to  keep the Euro gravy train running , are doing so by throwing by feeding your money into the maws of these people:

Hedge Fund Places Faith in Euro Zone – This is an interesting article by Nelson Schwartz for The New York Times. Here is a sample:

  Now, even as Europe’s economic problems worsen and the markets punish giants like Spain and Italy, Mr. Lasry is betting on a long-term comeback for the Continent. This month, his hedge fund, Avenue Capital, finished raising nearly $3 billion for a fund that will invest in the debt of troubled European companies.

 He has committed roughly $75 million of his own money to the new fund. That’s still a small part of his estimated $1.3 billion fortune, but Mr. Lasry is among a coterie of hedge fund and private equity managers who are gambling that the euro zone will stay intact and revive over the long run.

 Besides Avenue, Blackstone and Kohlberg Kravis Roberts plan to buy assets in Europe and in some cases already have done so, as have other well-known money managers like Leon Black of Apollo Global Management.

 Not that Mr. Lasry is expecting a quick turnaround for Europe. “It’s not a three-month bet or a six-month bet,” he said. “It’s a three- to five-year bet.”

 Last week, renewed worries about Spain’s ability to keep borrowing sent stocks in Europe tumbling and sparked about a 1 percent decline Friday on Wall Street, though the major United States indexes were up slightly for the week. Mr. Lasry and Richard P. Furst, a senior portfolio manager at Avenue who directs the European strategy, say they expect worries about the Continent to keep rattling the markets, creating buying opportunities for the new fund.

 So far, Mr. Lasry and Mr. Furst have put 25 percent to 30 percent of the fund to work, deploying an additional 5 percent or so each month.

 “We could invest the whole fund today but you want to average in,” said Mr. Furst. “There will be relief rallies, but when the fear comes back in, we buy.”

 The two money managers are using the broader fears about Europe to load up on troubled debt of companies in healthier countries in the region. The biggest chunk of the new fund’s assets have been invested in Britain, followed by France, with purchases in Sweden and other northern European nations, as well.

 They are avoiding Greece, the country where the euro zone crisis began, and the home of one of their more notable mistakes, a losing bet in 2010 on the debt of a Greek casino operator in an earlier European fund. That position has steadily lost value as Greece’s outlook has deteriorated. Mr. Lasry and Mr. Furst are also steering clear of troubled giants like Spain and Italy.

 Instead, they see opportunity as banks in Europe come under pressure from regulators to shrink their balance sheets and unload debt at deep discounts. Financial institutions also are focusing on home markets, prompting Italian and Spanish banks, for example, to sell off debt from other countries.

My view – I believe Warren Buffett is doing the same thing, on the basis that whatever happens to the euro, Europe will still be there.

 Wealth is created in down markets and realised in up markets.

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Out of Europe

February 1, 2011
The Daily Express’s “Out of Europe” petition will undoubtedly make David Cameron and other party leaders take notice but it will not have any more impact than that.

All three main parties are committed to staying in Europe and believe that there is nothing that we can do about it.

Unless sufficient MP’s are prepared to ignore their party whips and the splash over from the Euro-gravy train, we will never achieve a democratic resolution of this situation, through the Ballot Box.

The only party of any significance, which is committed to an Out of Europe position, is UKIP and they only managed 7% of the vote in the General election. They’d need a much bigger press support to have even the slightest chance of electoral success.

Ironically it seems to me that Vanessa Feltz has offered us a possible route to cocking a snoot at the politicians, who daily trample on our wishes.

In order to save money by reduced policing, politicians at the Local level have begun invoking “Health and Safety” as a reason for banning any non-revenue raising public event, such as street parties, walking day parades, village fete’s etc.

What would be the effect of the mass of the people deciding to hold street parties to celebrate the Royal Wedding?

Taking  Wigan as a basis for some Maths.

There are 35 policemen/women for Wigan to police about 300,000 registered voters, 24 hours  a day, 365 days a year. Even swelling the ranks with CPSO’s and Specials, that is not enough to prevent street parties.

Total acquiescence to Police orders (only when they are present) would show how reliant Politicians are on Public compliance and cause politicians, if they are intelligent enough, to worry about ignoring the electorate so contemptuously.

 Gandhi got the British out of India by civil disobedience, maybe Street parties could be the start of an effective form of peaceful civil protest that could get us Out of Europe.