This is not just a collapse – this is an M&S collapse

I’m screwed. Some time in the next few weeks i’m going to receive a politely worded yet patronisingly sinister letter complaining about my having downloaded ’House of the Rising Sun’ online for free. I will read it apprehensively and calmly yet at the same time with fear that my front door will be battered down and agents with white gloves will search my house and destroy everything in their path until they have found that song. I have no way of keepin them out. I would buy a safety catch but inflations driving up the prices of metal. I was going to run away with Sam Israel until i got the news.  I guess i’ll have to try and weather the storm. I’m screwed.

Henry Paulson, US treasury secretary, warns that ’inflation is world’s biggest worry’.

Former Bayou Group hede fund manager, Samuel Israel III, hands himself into police having spent a month on the run and is due to face New York judges today.

Asian stocks fall and Japanese stocks post longest losing streak in half century, on fears of stagflation.

Marks and Spencers profit warning causes collapse in retail market as City loses faith in Rose.

Oil prices continue to rise above $145 a barrel.

Game groups shares fall despite profits due to concerns that demands had peaked.

“Merrill advises Fortis on sale of businesses to Deutsche.”

The standard of living for British families will fall for the next year at least.

How to save money and still have an enjoyable 4th July.

 Story of the Day 

Gold mine found in Ireland. Unbelievable. I spent half my childhood trying to find a gold mine and now i find out that i was looking in the wrong place…I’m off now, i’m catching the 10:50 to Dublin from Gatwick to see some relatives…Its been planned for a long time…seriously…

Helter-Skelter

What ever happened to all of the Heroes? It’s all very well having superheroes saving children from being hit by cars and rescuing people form burning buildings but when was the last time a superhero propped up the economy? They’re quick to come running to the hot chicks having problems tying her laces but when Bear Stearns falls off a twenty storey building, they’re less keen. It’s time for them to get their priorities right or they might as well hang up their capes…   

Wednesday Reading

The FTSE 100 drops 2.6% as fears of recession hit markets and those with pensions are beginning to worry.

Not looking good for housebuilder Taylor Wimpey as they fail to secure deal to raise £500 million and shares in the company fell 49.7% on Tuesday.

Globally we are still pouring money into renewable energy sources as almost $150 billion was spent in 2007, despite markets crashing.

New car sales have reached a ten year low due to rising oil prices and a weak economy

However, General Motors claims its sales are slowing in China due to increased competition.

Marks and Spencers sack food chief Steve Esom and issue profit warning due to ‘market deterioration’.

Is a failure always bad?

Full statement from Taylor Wimpey – Live!

“Lloyd’s of London ‘names’ face bankrupty after court loss”

Starbucks raise number of branches being closed in US from 100 to 600 amid weak economy.

Carpetright owner, Lord Harris of Peckham expects this year to be among the most ‘challenging’ he has ever experienced 

Story of the Day

Christian site OneNewsNow’s ban on ‘G’ word sends homosexual to the olympics.  I don’t really know what to say about this story…It’s funny…That’s pretty much it, although i will say this that this article does make a large point about sending a homosexual to the olympics as if that itself is a laughing matter, which it clearly isn’t…not at all…not even one tiny bit…well, i mean…no, no it’s not funny. End of story…