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

chrisweb

StevieJ wrote: »

UK has never defaulted on its debt :T

I'm talking about the possibility of the UK being bailed out by the IMF because it will otherwise go bankrupt. Similar to 1975 situation.

chrisweb

setmefree2 wrote: »

Watching the BBC news;) and no they didn't mention UK bankruptcy

I mean investment\financial strategy if you have one.

Buying a house?
Buying shares in banks?

StevieJ

chrisweb wrote: »

I'm talking about the possibility of the UK being bailed out by the IMF because it will otherwise go bankrupt. Similar to 1975 situation.

The IMF are skint, bailing out all those other countries :eek:

setmefree2

chrisweb wrote: »

I mean investment\financial strategy if you have one.

Buying a house?
Buying shares in banks?

The setmefree2s are a family of 4 living in London. Mr & Mrs SMF2 are in their mid 40s. We have a mortgage, Cash ISAs, cash in Northern Rock & Lloyds. Our net debts are now less than £30k :j

My pension fund is currently half in cash and half in UK government bonds.

StevieJ

setmefree2 wrote: »

The setmefree2s are a family of 4 living in London. Mr & Mrs SMF2 are in their mid 40s. We have a mortgage, Cash ISAs, cash in Northern Rock & Lloyds. Our net debts are now less than £30k :j

My pension fund is currently half in cash and half in UK government bonds.

Like a cat ready to pounce :beer:

harryhound

StevieJ wrote: »

UK has never defaulted on its debt :T

Just debauched and devalued its currency, which is what it is and what it intends to do again this time:?
"the social contract" with the trade unions had reduced the average increase in earnings from 27.6% in 1975 to 13.9% in 1976.
The "social con-trick" as it was universally known.

Rochdale_Pioneers

So to summarise where we are, chriswebb wants to know why the BBC isn't reporting on a daily basis the very real possibility that WE'RE ALL GOING TO DIE!!!!!! - either that or go bankrupt. He doesn't think we actually are going to go bankrupt, nor understand the mechanisms by which economics works ("our insurance costs went up 63%!!!!!" - yes, and 63% on top of very little is still very little), nor is his personally making any provision for Britain going bankrupt. Nor can he provide any evidence at all that Britain is going bankrupt (a hint - columnists are not evidence).

But despite all this, he thinks it a disgrace that the BBC isn't reporting that we are in fact going bankrupt.

For chris I have a helpful tip. Call 08457 90 90 90. "Samaritans provides confidential non-judgemental emotional support, 24 hours a day for people who are experiencing feelings of distress or despair"

setmefree2

http://www.economist.com/world/britain/displayStory.cfm?story_id=13110366&source=hptextfeature


"Some fret that things could get even worse. They portray Britain as Iceland writ large, horribly exposed because of its big banking sector and intimate involvement in the sort of global finance that has gone so spectacularly wrong.
This is overwrought stuff. Little Iceland had banking liabilities worth close to ten times its GDP, all piled up by its own banks and mostly in foreign currency. Britain’s banking liabilities are equal to some 4.5 times GDP. Over half of these are attributable to foreign-owned banks that have clustered in the City; they hold two-thirds of the British-based banking system’s liabilities and assets in foreign currencies. As a result, Britain is much less exposed to a run on its own banks by depositors holding foreign currencies than Iceland was.
And although Britain has exceptionally high external liabilities, thanks to the City’s status as the world’s biggest international financial centre, it also has very large foreign assets. The gap between the two peaked at the end of 2006, when Britain owed £370 billion—28% of GDP—more than it owned. Since then it has narrowed, helped by sterling’s fall (almost all of Britain’s external assets are in foreign currency but only around 60% of its liabilities). The gap is now some £150 billion, or 10.5% of GDP—hardly cause for alarm. The current-account deficit has fallen from an average 2.2% of GDP in the ten years to 2007 to 1.6% in the first nine months of 2008."


From the Economist - A balanced Article. Tough times ahead but no mention of bankruptcy either;)

purch

So basically we need the BBC to say :-

1. The U.K. will go/is Bankrupt :eek:
2. Sterling will devalue hugely :eek:
3. Everyone's savings will be wiped out :eek:
4. It's all back to normal by 2010 and we can all buy Houses again :j

If this mantra is repeated at the start of every News Bulletin at 1PM,6PM and 10PM (the Newsreader should be in tears when by the time they get to #2) then chrisweb will be a very happy bunny, and all will be right in his world.

purch

Isn't that BBC News 24

I guess you missed the wink