Tag Archives: Cutting Outlooks

John Ward – Cutting Outlooks, Wealth, Services, Electricity Supplies, And Hair. But Not Banking Power. – 16 January 2013

John WardThe banks are being bailed out, the citizens are being fleeced. Quelle surprise.

“A frustratingly slow economic recovery in developed nations is holding back the global economy,” pronounced the World Bank yesterday while cutting its world growth forecasts for 2013.

We’re cutting forecasts, cutting expenditure and cutting corners. But nothing’s cutting it. The Slog’s long-predicted emergence of Spanish banking reality is creeping out shock by shock. Bankia’s shareholders  may lose most of their investments and probably all of them says the Spanish bank rescue fund in its latest report. Continue reading