John Smith's Credit Crunch Diary -  Or... What's Really Going On!
This diary reflects the author’s personal view and interpretation of events, no offence to any party is intended or inferred.
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The Great 2008/2009 Credit Crunch
Index To Daily Commentary For Investors On Key Financial Events

Post October 2009
The Aftermath And Recovery - Occasional Notes And Commentary

Catching ones breath   (14th October 2009)
Turn again Whittington (16th October 2009)
Great expectations      (24th October 2009)
Of confidence             (2nd November 2009)
The APS that wasn’t    (9th November 2009)
“Probably the worst managed bank this country has ever seen.”  (16th November 2009)
Neelie the elephant      (23rd November 2009)
Lloyds Banking Group escape route  (29th November 2009)
Up with the fees          (8th December 2009)
Dubai dichotomy           (11 December 2009)
A mountain of debt       (19 December 2009)
Back to square one       (27 December 2009)
The John Smith 2009 top-ten awards (31 December 2009)
Every little helps           (13 January 2010)
Inflation rears its ugly head (20 January 2010)
Private equity is back   (28 January 2010)
The verdict on QE       (06 February 2010)
Maverick strikes again  (18 February 2010)
Floats sunk                (19 February 2010)
India booming             (21 February 2010)
Debt to equity ratio     (23 February 2010)
A return to growth?     (28 February 2010)

October 2009
(The Final Week And The Close Of The Daily Diary 300 entries on!)

Week Ending October 11th 2009
Delightful damp squib
G20 prognosticates and procrastinates
Road to Istanbul, and back
Save it!
That was the (credit) year that was
 


September 2009

Week Ending October 4th 2009
The paradox of thrift
Rents backtrack 20 years
Contrary Goldman Sachs
Reparation time
Another turning point

Week Ending September 27th 2009
Banking’s bigger buffers
Selecting reverse gear, US style
Barclays are at it again
Between a rock and a hard place
Pound to Euro parity

Week Ending September 20th 2009
Buyers back in business
Down with commercial property
Out in the cold – still
GM Europe still not sorted
Motoring from US via Sweden to China

Week Ending September 13th 2009
Manufacturing more woes
Business investment down the pan
Reasons to be cheerful, part 2
Reasons to be cheerful, part 3
The really big picture

Week Ending September 6th 2009
Of bangers & mash
Chelsea have done it again
In a hole, but emerging
Stock markets saw it first

Looking to the future
 


August 2009

Week Ending August 30th 2009
More social aspects
Deflation not inflation, stupid!
The gap widens
Further imbalance
Sleight of (Japanese) hand

Week Ending August 23rd 2009
To Divine
Take over bid for UK Treasury
Rule of thumb, rule of pound
Of pious hopes and safety first
Social aspects

Week Ending August 16th 2009
81.8% full
IMF predicts

More predictions
Lloyds and the mixed-up kid
The worst is over

Week Ending August 9th 2009
Tracking the 1930’s
The Bellwether
Bumper US banking profits
Where does the M4 go?
The sense of Footsie

Week Ending August 2nd 2009
Part-time Britain
The third (Tory) way
QE programme not yet working
The two big mistakes
Factories in the doldrums


July 2009

Week Ending July 26th 2009
Nature or Europe fills a vacuum
How is UKFI doing?
An alternative bank
Exit from QE?
It’s called management, stupid

Week Ending July 19th 2009
China’s protectionism
Turning to Russia
GM restructuring approved
While the tinkers tinker
White Paper or whitewash?

Week Ending July 12th 2009
Bring on the mid-tier champion
Another rocky road
Prenatal pension cost
Neets must (yes Neets!)
Back to the 1930’s, it’s official


June 2009

Week Ending July 5th 2009
Between a rock and a hard place
40 to 1 against
Your pay, frozen or cut Sir?
Hedge funds on edge
We can sell our debt, honest

Week Ending June 28th 2009
Land-locked Europe misses the boat
Public sector to fall out of bed
Saab is saved
Overhauling US financial regulations
Stubborn inflation and loose debt

Week Ending June 21st 2009
Eastern Europe has the shakes
Who was a millionaire?
The one that got away
Of Barclays coup de grace
Your house in gold bars

Week Ending June 14th 2009
Bankruptcy, the bumpy or smooth road
Fiscal, vote yes: Monetary, vote no
Reasons to be cheerful, part 2

The World is tipping eastward
More on motors

Week Ending June 7th 2009
Get out of jail free card
Down with wages
The German bad bank
Of toxic treatments
Italy 0, Canada 1 (with a Russian mid-field)
 


May 2009

Week Ending May 31st 2009
A false dawn?
Dr Doom and the dollar
Germany leads Europe down
UK taxpayer doing nicely (short-term)
Back to the doom and gloom

Week Ending May 24th 2009
HSBC’s legacy woes
Can you believe it?
This diary as a best seller?
Laying the blame
Having reached the bottom?

Week Ending May 17th 2009
As car marques collide
The problem of storing oil
It’s good news week
Stressed out US banks
Current heaven from legacy hell

Week Ending May 10th 2009
UK economy falling fast - official
Private sector pay freeze is best hope
UK banks still not lending
Chrysler is bankrupt
Is UK manufacturing reviving?


April 2009

Week Ending May 3rd 2009
Suffer little children
Gilt strike?
Getting (some of) your money back
It’s just wishful thinking
General Motors, shutdown and bankruptcy?

Week Ending April 26th 2009
Irish eyes not smiling
Of moody municipals
Singapore’s whiz to fizz
Moody’s bares its teeth
Triumph of expectation over hope

Week Ending April 19th 2009
Latest on US houses and cars
G20 polarisation
G20 Summit: money beats fiscal
G20 Summit: of regulations
Go forth and quantitatively ease

Week Ending April 12th 2009
Statistical downgrade
Our maverick Barclays is clean
Gee Whiz (without the Whiz)
Where is Dunfermline anyway?
The rain in Spain

Week Ending April 5th 2009
RBS, so who authorised what?
The great pension divide
Of 12 noughts preceded by a 1
King to Queen 1 - check
Gilt auction fails


March 2009

Week Ending March 29th 2009
Has anything worked?
Working without help
The real boss speaks out
Anger at the micro level
US Fed follows Bank of England

Week Ending March 22nd 2009
The quantity theory of money
Lloyds 0, UK Treasury 1
Oil is thicker than sand & cement
Manufacturing down the pan
To meet and divide
 

Week Ending March 15th 2009
Worst results in UK corporate history
Back in the US of A
Another cash call, another bail out
Razzle-dazzle ‘em
Making fiscal history

Week Ending March 8th 2009
How the wheels came off
The Chinese begging bowl
Make up your own balance sheet
Has the housing market bottomed?
Job and van losses


February 2009

Week Ending March 1st 2009
Rock ya baby
Sovereign funds and institutions learn
Is China cheating?
Mr Madoff No 2?
UK tax receipts drop

Week Ending February 22nd 2009

How can $2,000bn disappoint?
He told them so
IMF cash could dry up
Of City fraud and printing money
European Commission talks tough

Week Ending February 15th 2009
Down and down we go
UK interest rate at new low
Creeping protectionism
Thanks for the lolly
The big four in surplus

Week Ending February 8th 2009
Bricks and mortar reality
Voicing the unspeakable
US position, the latest
How the UK Treasury is missing out
The pension protection black hole


January 2009

Week Ending January 25th 2009
Last throw of the (bank) dice?
.... Away for while to report on the Overseas Perspective... Back In February

Week Ending January 18th 2009
My name is bond
Of job losses
The German way
The package arrives
That US $700bn toxic fund
Working the weekend

Week Ending January 11th 2009
Of civil unrest and public spending
More UK retailers hit the dust
Stopping the recession
UK bank rate cut again, why?
How does it work?
Down amongst the dead men
Would you believe it

Week Ending January 4th 2009
Down with commercial property
Savers hit back
More help for US autos
Wishing you a prosperous New Year
Annus horribilis, UK Stock Market
It is not working
Savers to save us


December 2008

Week Ending December 28th 2008
Protecting the protector
Funds contra-flow
Tata Source
Boxing clever
Down with property and equities
Pensioned off

Week Ending December 21st 2008
Recession came early
US still loves the automobile
As severe as ever
Euro from strength to strength
US Quantitative easing
House of cards
The pound in your pocket

Week Ending December 14th 2008
A pig in a poke?
Gnomes of Zurich on garden leave
Join the Euro?
Germany declares war
City weeping
Commercially speaking

Week Ending December 7th 2008
Libor falls but margin stays
Of William & Mary
When China sneezes
Feel your collar Sir?
UK banks in retreat
Fall of the Pension domino
Double dichotomy


November 2008

Week Ending November 30th 2008
Taxpayers lose out in RBS funding
Worry beads
More funds pour in
Germany says nein
The pump not primed
Still banking on it
Immobile cars and boats and planes

Week Ending November 23rd 2008
Down the pan
A recap
Irish eyes are ....
Here comes the (Japanese) cavalry
A recurring theme
Decline and doubt
The G20 summit

Week Ending November 16th 2008
Europe’s big fish
Germany, Russia (again) and Kuwait
My $700bn article
Russia with less love
Sweden is now affected
Something ‘orrible afoot?

Week Ending November 9th 2008
Does blackmail pay?
Just me and thee
Eventually we get there

Week Ending November 2nd 2008
Of empty ships
About Australia
£1,800bn and counting
Of Sovereign States and oil
Stock Market angst


October 2008

Week Ending October 26th 2008
From Russia with love
A 79 year cycle?
Money market funds
Around the world

Week Ending October 19th 2008
The good news
Yield ye must
And who will buy the Treasury bills?
The end of the middle-game has been played out.

Week Ending October 12th 2008
Bank of England’s monetary policy committee must act
UK banks £50bn lifeline
Brown’s £500bn rescue package for the UK.