Wednesday, December 16, 2009

NEWSFLASH: Scotland's Recovery Continues

Thousands stranded abroad as Scots airline Flyglobespan goes into administration

The Gordon Brown and Ally Darling double act strike again. Throwing money down the deep, dark and endless pits of the banks' balance-sheets has not resulted in credit/money getting into the real economy. By taking money from the real economy and giving it to banks the real economy takes a big hit and simply caves in.

Tonight, on RECOVERY NEWS we can tell you that the Daily Retard reports that the Edinburgh based FlyGlobeSpan airline has gone into administration. Thousands of tourists are stranded and many will lose their christmas hols..

Thanks PM Brown. Take your bail-outs and 'quantative easing' and stuff them.


Bob said...

Sad news. A paltry £20m would have saved the company. Gordon gave India £600m, carbon offsets £500m and the banks £300bn. Mind you globespan have been a bit hazy with the truth. A Scotsman article last month...

Published Date: 16 November 2009
FLYGLOBESPAN, the Scottish low-fair airline, last night revealed it had received funding from Halcyon Investments.
The airline did not disclose the size of the deal, but said the cash would allow the firm to "prosper and grow".

Chairman Tom Dalrymple said: "In the past few months I have received a number of presentations from parties interested in investing. I am pleased to say that the chosen investor has the strength and vision to take the business to its natural next level."

Alex Porter said...

Hi Bob,
Glad you like the max keiser site. I've been following his stuff for over a year now - definately a good site and lots of good info from the comments too!

Yeh, chairmen always put a spin on stuff so that shares don't get hit. I mean Lehman was rating itself highly the day before it went down.

If you look at a lot of the comments, you'll see stuff about how it was a badly run company and people asking what's wrong with Scottish companies etc.

I think no-one yet gets how the bubble-economy created distortions and that the bail-outs are now killing the real economy.

More and more companies are going to the wall because the real economy - consumers and businesses are being starved of credit. The banks are not letting the money out because they are still up to their eye-balls in debt.

The credit market is not going to change until the banks are allowed to fail. It's that simple.

Pumping taxpayer money into them is doing nothing but killing the taxpayer and businesses in the real economy.

As people don't really understand the economics they don't see the connection between events like this and economic and monetary policy..

Anonymous said...

"Thousands of tourists are stranded and many will lose their christmas hols.."

The good news is that they're only Scots. Who the hell else has heard of this cowboy outift?

Anonymous said...

giqi f ´ ie 53