"The UK is expected to have the worst recession of all the G7 rich nations and this means investors think UK assets will perform poorly." and "It is unusual for a currency to fall so far, so fast.
Only twice in recent history has sterling fallen by such a degree.
On 16 September 1992, the pound was withdrawn from the European Exchange Rate Mechanism, triggering a fall from around $2 to $1.40."
So the BBC put up an article entitled "Osborne fears sterling collapse", that starts
"Gordon Brown's willingness to borrow his way out of trouble could lead to the collapse of sterling, shadow chancellor George Osborne has warned.Then the pro-Labour bias kicks in, first
In an interview with the Times, he accused the prime minister of being "deeply irresponsible" and suggested he "doesn't care" how much he borrows.
Sterling has fallen sharply in recent weeks amid fears about a UK recession. "
"A Labour spokesman said Mr Osborne was being "irresponsible" by talking down the economy. "and then to end the article the BBC helpfully remind us that:
"Last month, Mr Osborne was embroiled in the so-called Corfu yacht row.
He admitted he "made a mistake" by meeting Russian billionaire Oleg Deripaska several times while on holiday in Corfu in the summer.
But he denied claims he tried to solicit a £50,000 donation for the Conservative Party."
Do the BBC end every article referring to Peter Mandelson with reminders about the questions being asked about his links with Oleg Deripaska or his previously twice having to resign from this government? Of course not, the BBC's bias stinks and I am sick of it.
3 comments:
On the Toady Programme this morning the economics editor Robinson belittled the Tory and Osborne's statement as ludicrious and damaging - yet immediately following when Evan Davies asked two panelists (one a Tory MP) they BOTH agreed that there already was a run on the £ and that 100 billion in foreign capital had left UK in Sept-Oct this year - the £ is at its lowest ebb for over a decade and the global market has no doubt that Brown's borrow, spend, and waste policies will ensure the UK is in hock for another decade - hence the low £.
The BBC are appalling and a shameless apologist for Labour.
They are inflammatory, biased, scare-mongering and wholly irresponsible in their reporting.
The last year and a half have seen a amazing rise in the reckless nature of their "reporting" and in the coverage of the financial crisis they have been nothing short of shamefully tabloid-esque in their gleeful relating of what will turn out to be a hard time for everyone not on the Civil Service or BBC payroll.
They seem to be of the opinion that they should MAKE the news agenda not simply report what is going for people to form their OWN opinions.
Add to that the musings and potentially dangerous outpourings of some staff on their bbc blogs and you have a corporation that is unaccountable, irresponsible, out of control and a nest for the cultivation of certain people who spout liberal, pc garbage....
That we have to pay for the privilege of being force fed this garbage dressed up as news is yet another indictment of our democracy, our lack of voice and our complicity in what has become a shadow of the nation we once were.
Wow, I am annoyed...sorry for the rant and keep up the good work :)
Pax
Fully agree with you on this one, all Osborne has done is open his mouth to say our glorious unelected Leader has no clothes.
No mention from the Beeb of all the things OGUL did to end us up in the state we are in now.
WV - fluxthyd - how I feel with the Beeb!
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