2010-05-07 - Hugh Hendry - UK Hung Parliament

BBC economics editor Paul Mason talks through the market's reaction to the UK hung parliament amidst the background of a developing sovereign debt crisis. Hugh Hendry raises concerns about the hung parliament and the British people's refusal to accept the reality of the needed austerity ahead of the UK economy.

Category:

News & Politics

Tags:

• Hugh
• Hendry
• Hung
• Parliament
• UK
• Election
• 2010
• Austerity
• Sovereign
• Debt
• Crisis

[unfundedliabilty]

KW - "So Hugh, how's it looking?"

HH - "The banking system is insolvent".

KW - "Thanks Hugh. Now on to sport".

[pismo10]

Nothing resembling capitalism is taking place in the world now. It is all socialist bailouts and endless welfare.

[DavidAKZ]

@pismo10 socialism for the rich and 'markets' for the rest of us.

[londonscot1]

@ADONISindeed HH hasn't grasped that it wasn't the "champagne socialists" who ran the private sector banks into the ground, based on light-touch regulation that they successfully lobbied for, to the extent that the banks required state / taxpayer bailouts!

It's also noticeable that HH brushes aside the question of whether a hung parliament reflects public opinion. He doesn't care! Democracy isn't a priority for hedge fund speculators, in an era of international capital mobility.

[bevok]

Can't news presenters just sit down?

[ADONISindeed]

Hugh Hendry has the balls to call out the "Champagne Socialists" in government, and voice the truth with regards to the insolvent fraudulent banking system. He's a hero.

[SvrchovaneCechy]

Fools. Fully occupied with drawing fancy charts while Tsunami is coming...

[mccurdy316]

The Markets (Banks) want to know who has money to give them ASAP.After listening to Mr Hendry, all these bailouts are not for the people, but for their banks.He stated that the Greek bailout is for French banks and they maybe betting for the Euro to fail.

People need to remember the government does not create wealth. So any bailout money comes out of any taxpayers money if, I.M.F are involved.

Its Casino Capitalism and the taxpayer is the bitch in all this. - Rant Over.