Countdown to Financial Armageddon
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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
Curated by Nick Laight
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Bank of Englad reveals UK household incomes fall for fifth year

Bank of Englad reveals UK household incomes fall for fifth year | Countdown to Financial Armageddon | Scoop.it

Disposable incomes of UK households have fallen for the fifth year in a row, research by the Bank of England suggests. The Bank's survey found the amount the average household had to spend each month, after tax, bills and housing costs, fell by £46 over the year.

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Bank of England's dire warning over eurozone threat

Bank of England's dire warning over eurozone threat | Countdown to Financial Armageddon | Scoop.it

Banks should prepare to withstand an "extraordinarily serious" climate, with the eurozone crisis the main worry, the Bank of England chief says.

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UK inflation rate rises to 5.2%!

UK inflation rate rises to 5.2%! | Countdown to Financial Armageddon | Scoop.it

The rate of Consumer Prices Index inflation rose to 5.2% in September from 4.5% the month before, official figures show.

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Why QE2 will damage pensions by pushing inflation up and interest rates down

Why QE2 will damage pensions by pushing inflation up and interest rates down | Countdown to Financial Armageddon | Scoop.it

The Bank of England's website homepage states "the Bank sets interest rates to keep inflation low to preserve the value of your money". Such sentiments ring hollow as inflation roars ahead. The bank is ignoring the evidence and increasing inflation risks further.

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How to Create Money Out of Nothing: Great BBC Video Explains All

How to Create Money Out of Nothing: Great BBC Video Explains All | Countdown to Financial Armageddon | Scoop.it

The Bank of England injects more money into the economy via quantitative easing, but what exactly is "QE"?

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British banks could ask taxpayers for more cash as Credit Crunch Part Deux arrives

British banks could ask taxpayers for more cash as Credit Crunch Part Deux arrives | Countdown to Financial Armageddon | Scoop.it

Sir Mervyn King, the Bank's Governor, confirmed that there are "signs of a credit crunch already in the euro area". Banks have been ordered to slash bonuses to staff and payments to shareholders to get their houses in order as a second credit crunch bears down on the
country.

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Sir Mervyn King: Britain on the brink of second credit crunch

Sir Mervyn King: Britain on the brink of second credit crunch | Countdown to Financial Armageddon | Scoop.it

Britain is on the brink of a second credit crunch, the Bank of England warned
as it slashed its growth forecasts for the economy and raised the prospect
of a double-dip recession.

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Inflation to rise despite Bank assurances as economists downgrade growth forecasts

Inflation to rise despite Bank assurances as economists downgrade growth forecasts | Countdown to Financial Armageddon | Scoop.it

The official rate of inflation is predicted to rise even higher this week, defying assurances price rises will fall back, while two heavyweight economist groups downgraded UK growth forecasts. City economists say inflation could hit 5 per cent when figures are published Tuesday 18 Oct, putting further pressure on the incomes of cash-squeezed families, savers and pensioners.

 

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Bank of England's QE2 may reach £500bn, economists warn!

Bank of England's QE2 may reach £500bn, economists warn! | Countdown to Financial Armageddon | Scoop.it

The Bank of England may have to inject as much as £500bn into the economy to rescue Britain's faltering recovery, economists warned after the central bank shocked markets by restarting its money printing programme.

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The Printing Presses Have Started Again! Bank of England Injects £75bn Into Economy

The Printing Presses Have Started Again! Bank of England Injects £75bn Into Economy | Countdown to Financial Armageddon | Scoop.it

The Bank of England says it will inject a further £75bn into the economy through quantitative easing (QE).

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