Taxpayers' £200bn to insure banks' losses

Kenny4315

!!!!!!? wrote: »

Yes, they've just increased the PSBR:

Price of
Subsidising
Brown's
Re-election.

(taken from a post seen on HPC).

The goal would be to trigger some sort of inflationary boom prior to a general election.

If that BAR STEWARD is re-elected then we're doomed forever :mad: . may as well all buy igloo's in the arctic, if it hasn't melted by then.

Kenny4315

I'd hate to be the one underwriting UK PLC's bad debts insurance policy. Wait an FFing minute as a TAX PAYER I AM.

mystic_trev

According to Bruce Packard, Banking Analyst, Evolution Securities, there's worse to come ....

"We expect the UK Govt to try to solve the obesity crisis next week, by nationalising the supermarkets, so that they can then resume the supply of cheap doughnuts to fat people."

setmefree2

Sapphire wrote: »

Let's make that crystal clear: they 'have gained massively from' the spending of taxpayers' money.

Yes I am a taxpayer and I give my money to the government and the government spend it on my behalf....so your point is?

harryhound

The government has no money of its own, only what it can tax, borrow or print

Generali

setmefree2 wrote: »

TBH I don't really understand your anger towards the government - from where I'm sitting it's the industry that you were in that has done this to us and you seem to be less angry towards them? My children will be paying for the wrong doing of some fat bankers who are currently sitting on some sunny island with their big pots of money...

You could blame Bill Clinton if you want a scapegoat. (link)

My anger towards the Government is that they are promoting the lie that Socialists always give. Ultimately that they can spend my money better than I can. They can't.

setmefree2 wrote: »

Not that I blame you personally, of course.

Thanks. I worked in equities (shares) so not connected to CDOs etc.

brummybloke

setmefree2 wrote: »

Yes I am a taxpayer and I give my money to the government and the government spend it on my behalf....so your point is?

you GIVE your money to the government?

i think you may find they TAKE it.

Generali

setmefree2

Generali wrote: »

You could blame Bill Clinton if you want a scapegoat. (link)

My anger towards the Government is that they are promoting the lie that Socialists always give. Ultimately that they can spend my money better than I can. They can't.

Tbh I don't really want to blame anyone. Financial instruments are just objects to sell, like cars, and now the bottom has fallen out of the market (just like it has for cars in Germany, say) and we (the UK) need to find something else to sell or else we are in the sh*t.

The government did spend lots of money on the public sector -schools, hospitals, expanding university education, etc - but it won't be able to continue to do so unless one of 2 things happen:-

1)The banks get profitable
2) We (the nation) come up with "the next big thing"

I think the government are still hoping that 1 is going to be the outcome. It's looking increasing unlikely imho (and Jim Rodgers:o).

So in answer to your point, the Labour government has been "giving" (your choice of verb - it's my money after all) because it had the where-with-all to do it from the big bank profits. Personally, I'm glad the government has spent the money rather than individuals - as I fear most people would have just spent the money on houses, ramping house prices up even further. The government have spent on new schools, hospitals,education and infrastructure (sadly, also on a war but that's another topic) which will help us in the future.

It's about time the vast number of graduates the UK educate start to "earn their keep" LOL.

UK plc has difficult challenges and choices ahead of it...

harryhound

The government has been spending your money on the sands of Iraq and the mountains of Afghanistan and all those other non profit making worthy causes that we have to finance between now and tax-freedom-day.
How much of the lovely worthy list of capital projects has been financed by "PFI" ? Probably was not your money; it certainly was not "government" money. It is simply a blank post dated cheque to be paid by our children.