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Is the BBC Avoiding Critical Topics Like U.K Bankruptcy?

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  • purch
    purch Posts: 9,865 Forumite
    If you believe that BBC reporting is impartial then that's fine. I used to think the same

    Unfortunately the BBC has had to change, and what's even worse is that complaining about it won't change a thing.

    Due to the circumstances and various incidents over the past 5-7 years, the landscape has totally changed and now the BBC as an institution has to be more worried about being seen as totally unbiased and evenhanded than they are worried about reporting the real news and real facts.

    Of course this has led to them sometimes being more biased and less even handed as the Government and various pressure groups realise the power they can now use against the broadcaster.

    The BBC is scared..........this Government has changed the way that they see themselves and the way that Government can influence them by the threat of changing or doing away with their charter.
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • Whilst the Beeb try to come across as unbiased ,no doubt they will be biased depending on how you look at stuff, that just how it goes. Or is it?

    Perhaps certain stories are altered and pulled to fit the Gov agenda because the Gov have ways to pressurize specific Editors? with past or present misdemeanors that would damage their career,marriage,etc.

    We know some of these guys are given jobs that they should never have got,past CEO of Banks come to mind.
    Payback is usually a knighthood, so arise Sir Mark Thompson?

    So with the cover of being ,impartial, I suppose they and other organizations can get away with not printing or telling us what we are expecting them to report.
    Even with that in mind, I have no doubt, that if this evidence is released,the Beeb and every Tom, !!!!!! and Harry will be falling over themselves to report it,to not, would be amazingly foolish.

    But in the true spirit of this board I ought to be suggesting,

    Run for the hills. Sell, sell, sell. Buy gold, bullets and beans!

    Were doomed,have you seen the charts today? ........ yikes!!!!!! :D
  • harryhound
    harryhound Posts: 2,662 Forumite
    StevieJ wrote: »
    It is interesting that he [the whistle blower] appears to pointing the finger with regards to loans to individuals, but the HBOS problems were caused by commercial loans :rolleyes:

    Surely a lot of HBOS "commercial" loans are in fact to small business men. A loan for BTL, a loan to a company personally guaranteed by the managing director's equity on his home etc etc.

    Those are loans to individuals in all but name.
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    chrisweb wrote: »
    Just forget the prospect of UK bankruptcy and competition with being the worst against other countries. You seem to intent on defending the U.K economy to see the bigger picture.

    This link provides a list of ranked budget deficits.
    https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html

    You will see that we are 43rd.

    Furthermore, we are also spending much less on our stimulus package.

    USA - $800bn
    Germany Euro 50 bn
    France Euro 26 bn

    UK £25bn

    So it would appear that alot more countries are going bankrupt before us, don't you think? Maybe that is why it's not news?
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    http://news.bbc.co.uk/2/hi/business/7896758.stm
    EU acts as budget deficits bulge

    _45422530_006765644-1.jpg
    Public finances have been hit by the economic downturn

    The European Commission has taken disciplinary steps to tackle swelling budget deficits in six EU countries.
    It said that France, Greece, Spain, Ireland, Latvia and Malta had breached EU rules by allowing their budget deficits to exceed 3% of GDP in 2008.


    So that would appear to be 6 more countries that are more likely to go bankrupt before us.
  • setmefree2 wrote: »
    This link provides a list of ranked budget deficits.
    https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html

    You will see that we are 43rd.

    Furthermore, we are also spending much less on our stimulus package.

    USA - $800bn
    Germany Euro 50 bn
    France Euro 26 bn

    UK £25bn

    So it would appear that alot more countries are going bankrupt before us, don't you think? Maybe that is why it's not news?

    Did you forget about the estimated £900,000,000,000 for bank bailouts in the UK? That's only what has been allocated so far.

    You also might wanna check where Iceland ranked in that chart. It was way better than the UK. That chart is not an accurate depiction of what order countries will go bankrupt in.
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    chrisweb wrote: »
    Did you forget about the estimated £900,000,000,000 for bank bailouts in the UK? That's only what has been allocated so far.

    You also might wanna check where Iceland ranked in that chart. It was way better than the UK. That chart is not an accurate depiction of what order countries will go bankrupt in.

    Bailouts are not included in these figures as it's assumed countries will get the money back eventually.

    This is the following from Moody's :-

    "Moody’s Investors Service does not think the UK government’s latest plan to help the banking system puts the UK’s Aaa sovereign debating at risk. Moody’s views the plan as generally positive for the credit quality of UK banks, corporates and securitised transactions. Moody’s report “Effect of the Government Bailout on U.K. Credits“ describes the measure as a “calculated risk” in terms of its implications for UK public financing and debt levels, but a necessary one. The new plan “contains a more aggressively defensive stance than the previous plan, and provides at least one element of comfort regarding the ability of the government to prevent a recessionary spiral,” says Arnaud Marès, Moody’s sovereign analyst. “By adopting a more activist approach vis-à-vis targets for bank lending, the government is reducing the risk of a sharp contraction in credit in the short term, arguably the biggest single risk faced by the UK and other advanced countries.”
    As for the program’s implications for the UK’s Aaa government bond rating, the rating agency says it does not view the UK as a clear outlier in the Aaa category even with the program’s additional cost.
    The UK economy should have the vitality to rebound, says Moody’s. As the current crisis abates, the UK government will then be in a position to cut spending and raise taxes, to keep its levels of debt under control over time.
    For the banks, the government’s measure should ease pressure on liquidity, capital and lending levels, and also, importantly, promote confidence in the banking system. In addition, the “asset protection scheme” could, in the long run, cap future losses for banks which could help their underlying profitability and internal capital generation. Assessing the program’s full credit impact, however, awaits more details.
    Given that it should help free up bank capacity for lending, the programme is a positive for the corporate sector, which is facing significant refinancing needs in the coming year. Covered bond programs will improve in credit quality to the extent the banks supporting the program are strengthened, says Moody’s."
  • setmefree2 wrote: »
    http://news.bbc.co.uk/2/hi/business/7896758.stm
    EU acts as budget deficits bulge

    _45422530_006765644-1.jpg
    Public finances have been hit by the economic downturn

    The European Commission has taken disciplinary steps to tackle swelling budget deficits in six EU countries.
    It said that France, Greece, Spain, Ireland, Latvia and Malta had breached EU rules by allowing their budget deficits to exceed 3% of GDP in 2008.


    So that would appear to be 6 more countries that are more likely to go bankrupt before us.

    My point isn't who will go bankrupt first and require an IMF bailout, its why are certain poor and risky aspects of the UK economy not being reported.

    Eitherway its hard to draw solid conclusions from isolated stats about certain countries deficit spending when there's a much bigger picture to deal with.

    From what I've read a major aspect effecting a countries bankruptcy is having your own currency like Iceland does, which the UK does and which Switzerland does.

    All either bankrupt or high up the bankruptcy list.
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    chrisweb wrote: »
    My point isn't who will go bankrupt first and require an IMF bailout, its why are certain poor and risky aspects of the UK economy not being reported.

    I can't debate these "certain poor and risky aspects of the UK economy" as you have not detailed what they are?:confused: They seem to be something vague that only you know about?
  • setmefree2 wrote: »
    I can't debate these "certain poor and risky aspects of the UK economy" as you have not detailed what they are?:confused: They seem to be something vague that only you know about?
    I posted this earlier:

    Some facts the BBC has not discussed (or have rarely discussed) in main news broadcasts:
    - U.K banks are more leveraged than U.S banks (as are most of Europes).
    - Record levels of government debt
    - Record levels of personal debt
    - The challenges of a drop in tax revenue from the recession while spending drastically increases
    - The total amounts of debts that have gone bad in the UK banking system.
    - How the weak currency will cause prices to rise (or prevent/hinder falling prices in a deflationary environment) which will further reduce people's spending and flow of money in the economy.
    - How a U.S republican publicly stated the U.S saw tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars, which occurred over the period of an hour and threatened a further $5 trillion to be drawn out triggering a total collapse of the Worlds Financial System
    - That the IMF has revised its GDP forecast for the UK economy for 2009 from -1.5% (November 2009) to -2.8%, and the forecast for 2010 is now +0.2%
    - The estimated total cost of the bailout packages combined.
    - A trade deficit that can only be supported through borrowing, and the implications of this when lending has tightened.

    I could go on. Whether these spell U.K bankruptcy, economic doom or other predictions labeled as scaremongering or not doesn't matter, its the fact they are not been reported.

    The point of view of UK bankruptcy has evidence that supports it. You may not agree with which you are entitled to do. But it is unjustified for the BBC to ignore a growing point of view from a growing number of economists, investors and journalists including:
    - Niall Fergusen
    - Robert Pretcher (January 2009, Elliot Wave forecast),
    - Nadeem Walayat
    - Jim Rogers
    - Dan Atkinson
    - Ambrose Evans-Pritchard
    - Philip Delves Broughton
    - Mike Shedlock
    - Adrian Ash
    - John Stepek
    - Grant Thornton

    Instead the same annoying woman has been interviewed 3 days in a row about the economy in the lunchtime broadcast and the alternative side of the story does not seem to be getting addressed.
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