Britain faces deflation !!!

Incisor

worldwheeler wrote: »

There is lots of talk of government borrowing? Where does the government borrow these billions from? At what interest rate are these billions charged at? Anyone know?

The gov't borrows the money from the banks. They seem to have come into billions lately, so I am sure they can help out, by charging a higher rate than they are being charged for the money they have.

kennyboy66_2

neverdespairgirl wrote: »

There was little or no govt. debt during the 18th and 19th centuries - the industrial revolution, where people didn't tend to live in wattle-and-daub. Govt debt such as there was tended to be for wars, not social spending.

How much of the industrial revolution was funded & raw materials supplied with via slavery ?

baby_boomer

Remarkably little. But perhaps that's a subject for a thread on DT?

I wanna no 'bout this deflation thingy!

neverdespairgirl

kennyboy66 wrote: »

How much of the industrial revolution was funded & raw materials supplied with via slavery ?

As a percentage? I don't know.

baby_boomer

OK I relent.

It's a much disputed topic, as you might expect. From Wikipedia:

"...Williams [a Marxist historian] went on to argue that slavery played a major role in making Britain prosperous. The high profits from the slave trade, he said, helped finance the Industrial Revolution. By implication, Britain enjoyed prosperity because of the capital extracted from the unpaid work of slaves....... Richardson (1998) finds Williams's claims regarding the Industrial Revolution are greatly exaggerated, for profits from the slave trade amounted to less than 1% of total domestic investment in Britain..."

The rest of the Empire, especially India, was more profitable and the Agricultural Revolution provided much of the investment needed in industry. For instance the first major canal into Manchester was built by a love-sick landowner with money to burn who was also sitting on coal reserves which he wanted to exploit.

Now back to deflation? Please .

slipthru

neverdespairgirl wrote: »

Doesn't seem to work!

http://news.bbc.co.uk/1/hi/england/london/3068271.stm

And she thought she would get away with it.

Mind you there probably still are loads of them getting away with these types of things.

baby_boomer

Meanwhile

Times - Dreadful borrowing figures threaten Darling's Keynesian "splurge"

"A "dreadful" set of figures showing government borrowing running at record levels has called into question Alistair Darling's ability to spend his way out of the looming recession.....

......The ONS said that Public Sector Net Borrowing (PSNB) reached £37.59 billion from April to September, the first half of the financial year. That was more than the whole of last year and the highest half-year total ever recorded.

It also makes a mockery of Mr Darling's full-year PSNB forecast of £43 billion. The City now expects borrowing to total around £65 billion and analysts say it is unfortunate that the deficit is spiralling upwards even before recession has hit..."

moanymoany

Every day there is some new area where Brown Darling is going to spend, spend, spend!

When all this public building is completed - is there going to be any money to run them? It is true that every person kept in a job will pay money into the system - whereas if they are out of work they take money out.

It all seems to have been decided very quickly - I do wonder if it is going to work out just how the Government hopes.

Over on the 'Things Get Tougher' thread on Old Style, there is a poster saying that the Government are cutting jobs in the Civil Service, the court system is the example given, but can't be the only place - by lots!

On the page from the Times linky, there is this article. http://www.timesonline.co.uk/tol/life_and_style/education/article4981687.ece

I took the test and passed - yippee! A bit scary to think these people all have maths and English GCSE!

baby_boomer

Some interesting views at Cazenove:

FT Adviser

".....the multi-manager team brought its commodity exposure down to almost zero earlier in the year because of its pessimistic views on economic growth.

“Our view was the downturn was going to be significant and inflation wasn’t going to be the main issue...."

Index linked gilts are also down 8% in the last two weeks as investors have "run for the door" in the face of falling commodity prices.

Sir_Humphrey

neverdespairgirl wrote: »

Doesn't seem to work!

http://news.bbc.co.uk/1/hi/england/london/3068271.stm

Council control
The headmistress was caught when the grant maintained school returned to the control of the London Borough of Bromley. In November 1999 council auditors were sent in and reported "grave concerns" about the school's accounts, which led to McCabe's arrest.

Au contraire.