Possible Tax Cuts on the way

BACKFRMTHEEDGE

!!!!!!? wrote: »

Let the bust run its course and try to make small corrections to soften the worst effects is my advice. Get it out of the way as quickly as possible then we can concentrate on rebuilding.

Wow !!!!!!? It's years since I've heard this sort of clap-trap - you are no doubt the progeny of Margaret Thatcher and that's not a compliment;) Yes - let's do nothing:j Let's put everyone on the dole:j - Let's increase the amount we have to spend on benefits, reduce our incoming taxes because nobody has a job that really will reduce our deficit:rolleyes: And we can all stand by and watch in wonder and awe at how wonderful the markets are at sorting it all out:dance:

But even better this will decimate the housing market and finally there will be houses on sale for 50p. Whoop whoop_pale_

BACKFRMTHEEDGE

!!!!!!? wrote: »

Let the bust run its course and try to make small corrections to soften the worst effects is my advice. Get it out of the way as quickly as possible then we can concentrate on rebuilding.

Yeah starve the b******s - "that'll learn them" for getting a mortgage or a credit card. That'll teach them for trying to enjoy life to the full. That'll teach those pesky governments who want full employment, a good health service and good education for all.

Good job nobody is listening to you:rolleyes:. I haven't heard one commentator suggest "letting the bust run it's course" as the best course of action - no matter how right leaning.

BACKFRMTHEEDGE

Generali wrote: »

The bloke down the road loses his job so he has no money to spend. But then who cares, he's just some bloke.
.

I care and there are many like me:rolleyes:

drbeat

BACKFRMTHEEDGE wrote: »

Wow !!!!!!? It's years since I've heard this sort of clap-trap - you are no doubt the progeny of Margaret Thatcher and that's not a compliment;) Yes - let's do nothing:j Let's put everyone on the dole:j - Let's increase the amount we have to spend on benefits, reduce our incoming taxes because nobody has a job that really will reduce our deficit:rolleyes: And we can all stand by and watch in wonder and awe at how wonderful the markets are at sorting it all out:dance:

But even better this will decimate the housing market and finally there will be houses on sale for 50p. Whoop whoop_pale_

And your suggested alternative is? Let me guess: an economy built on personal debt, credit fraud and govt mis-management?

Don't you just love the way some refer back to the Thatcher days in order to make a point?

drbeat

BACKFRMTHEEDGE wrote: »

Yeah starve the b******s - "that'll learn them" for getting a mortgage or a credit card. That'll teach them for trying to enjoy life to the full. That'll teach those pesky governments who want full employment, a good health service and good education for all.

Good job nobody is listening to you:rolleyes:. I haven't heard one commentator suggest "letting the bust run it's course" as the best course of action - no matter how right leaning.

Yes some people - enough to bring this country to its knees - borrowed far too much and didn't plan for the !!!!!! hitting the fan. Those who were sensible - savers - are now paying the price! There is no such thing as full-employment, good health service and good education - despite what that 1997 Labour manifesto you read on the bog tells you!

Good job nobody is listening to you. I haven't read about any govt in History that has intervened successfully - in the long term - to fend off a recession. Recessions are neither left or right leaning.

chucky

drbeat wrote: »

And your suggested alternative is? Let me guess: an economy built on personal debt, credit fraud and govt mis-management?

Don't you just love the way some refer back to the Thatcher days in order to make a point?

Credit fraud - hahahaha,
I'd love to see the real numbers of Credit Fraud (Not from a HPC backed forum) that has gone on - do you have any figures from a reputable source to back this up?

fatpig_2

The recession has got to be left to run its course without emburdening future generations with collosal amounts of debt.

BACKFRMTHEEDGE

drbeat wrote: »

Yes some people - enough to bring this country to its knees - borrowed far too much and didn't plan for the !!!!!! hitting the fan. Those who were sensible - savers - are now paying the price! There is no such thing as full-employment, good health service and good education - despite what that 1997 Labour manifesto you read on the bog tells you!

Good job nobody is listening to you. I haven't read about any govt in History that has intervened successfully - in the long term - to fend off a recession. Recessions are neither left or right leaning.

What carp. The sub-prime loans orginated in the US not the UK, so borrowers in the UK have not brought this country to its knees. And as for only "savers" paying the price - that's carp too - EVERYONE is going to pay the price.

"There is no such thing as full-employment, good health service and good education - despite what that 1997 Labour manifesto you read on the bog tells you!" What bile - tells me all I need to know about you. I suppose jobs, good health service and a good education are only for the rich.

A recession is a sure thing but government policies can make it a better or worse experience and if you don't believe me maybe you should read "The General Theory of Employment, Money and Interest" by John Maynard Keynes next time you are on the bog, instead of that Daily Telegraph you so obviously read and which frankly is only suitable for wiping your big behind.;)

WTF?_2

drbeat wrote: »

And your suggested alternative is? Let me guess: an economy built on personal debt, credit fraud and govt mis-management?

Don't you just love the way some refer back to the Thatcher days in order to make a point?

The problem is that the market has been pushed so much one way with stupid amounts of credit that it has nothing else to do except rebound the other way. Eventually it will find equilibrium.

What's worrying is that all current UK govt thinking seems to be aimed at restoring 2007 levels of lending, it's a stated policy.

To me this says that the government has no idea about what to do but seems to think that if only they can open the credit taps to full, everything will be all right. And to achieve that, they are prepared to commit to seemingly endless amounts of government borrowing.

I can't see this course of action ending in anything other than disaster. The only way to get 2007 credit levels again is to monetize the banks debts - strongly inflationary and likely to cause untold economic damage as the world's money markets dump sterling bonds.

Alternatively, if they borrow (and succeed in borrowing) the money then they'll be sucking productivity out of the labour market for a decade or longer, making the recession much longer and harder to get out of. Plus, if it doesn't do the trick and things keep slumping in a deflationary manner then they've just massively increased the government debt in a time of deflation - disastrous.


Seriously, I think we ain't seen nothin' yet as regards the full impact of the crisis. It's still brewing.

drbeat

chucky wrote: »

Credit fraud - hahahaha,
I'd love to see the real numbers of Credit Fraud (Not from a HPC backed forum) that has gone on - do you have any figures from a reputable source to back this up?

And do you have any evidence that it didn't happen?