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

StevieJ

Wookster wrote: »

I'm afraid there is a hardcore of people - StevieJ, Chucky, Really2 and nowadays Rochdale (who did seem to be able to hold a reasoned debate at some point) who are hell bent of playing with the wrecking ball if you have a more pessimistic view of the state of affairs.

I tell you what, if you are not !!!!!! your prose style is amazingly similar Considering you say you are not from the UK that is incredible.

MrFonzerelli

chucky wrote: »

the UK is not doomed and if you can tell me a country (apart from the US) better positioned to ride out the economic storm - let me know...

Germany... They have a lower annual Govt deficit, lower individual debt levels, better net trade position and a more productive economy. The Gilt yields also indicate that they will be more likely than the UK to be able to service their higher total govt debt. :cool:

Wookster

Rochdale_Pioneers wrote: »

He's ignoring me because I disagree with him. The words petulant child spring to mind.

There you go - you've just proved my point. Can you please go back to talking things through sensibly?

chucky

Rochdale_Pioneers wrote: »

Who is wielding the wrecking ball? Those of us interested in seeing Britain stay afloat? Or those of you desperate to sink it?

Rochdale you'll find that Wookster will be unemployed shortly - which I have great sympathy for. he was also unemployed for a long period last year by his own admission. as you can imagine he is probably not happy with the current economic climate and this is displayed through his views.

it's usually the guys who are suffereing from Shadenfreude who are the ones claiming that Britain is bankrupt.

again i hope that he does find a new job asap.

chucky

MrFonzerelli wrote: »

Germany... They have a lower annual Govt deficit, lower individual debt levels, better net trade position and a more productive economy. The Gilt yields also indicate that they will be more likely than the UK to be able to service their higher total govt debt. :cool:

for a country with a very low home ownership vs rental ownership - tell me why they are having to bail out their own banks?

and there was me thinking the house price issue was the cause of all of this...

Wookster

MrFonzerelli wrote: »

Germany... They have a lower annual Govt deficit, lower individual debt levels, better net trade position and a more productive economy. The Gilt yields also indicate that they will be more likely than the UK to be able to service their higher total govt debt. :cool:

And just have a look at this: http://business.timesonline.co.uk/tol/business/economics/article5764793.ece

Bailed-out banks to add £1.5 trillion to public debt


Royal Bank of Scotland and Lloyds TSB, the two banks bailed out by the Government, are to add between £1 trillion and £1.5 trillion to the public debt, the equivalent of between 70 and 100 per cent of GDP, the Office for National Statistics indicated this morning.
Britain’s public sector net debt is already a record high, hitting 47.8 per cent of GDP in January, official figures show. This is the highest level of debt recorded since the ONS started recording data in 1993.

Yes, the UK is "well placed" to ride out the recession...

StevieJ

Wookster wrote: »

There you go - you've just proved my point. Can you please go back to talking things through sensibly?

I thought he was on ignore :rotfl:

StevieJ

Wookster wrote: »

There you go - you've just proved my point. Can you please go back to talking things through sensibly?

Sorry if you are losing your job, hope you have no problem finding a replacement.

chucky

Wookster wrote: »

And just have a look at this: http://business.timesonline.co.uk/tol/business/economics/article5764793.ece



Yes, the UK is "well placed" to ride out the recession...

and these bail outs - you do understand they're going to be paid back by the banks? you do obviously realise that these banks have also been charged a nice fee and interest for these bail outs?

i suppose that you missed these key points due to your "britain is bankrupt" filter settings

Rochdale_Pioneers

chucky wrote: »

and these bail outs - you do understand they're going to be paid back by the banks? you do obviously realise that these banks have also been charged a nice fee and interest for these bail outs?

i suppose that you missed these key points due to your "britain is bankrupt" filter settings

And of course the other point about the rules the ONS uses is that bank debts get added to the public deficit. Bank assets - now owned by the public - do not.

So, take every single penny owed by RBS et al and every single penny loaned to them. Then assume that every one of the debts they comprise is utterly worthless and will be defaulted on at a 100% rate. Then ignore all the assets owned by the bank and set aside the contractual agreement where they have to repay government loans with interest.

Then - and only then - do you reach a £1.5tn figure. In the real world bank debts do not default en masse (Northern Rock's default rate was 0.4% in the quarter after being nationalised), bank assets actually are public property, and loans get repaid. This is why the EU - that pro-government bunch of Brown-lovers - have put the likes of Ireland on their shitlist of countries exceeding safe debt levels, yet have not done the same to Britain.

So, if your idea of fun is making up numbers that do Britain over, go knock yourselves out. But don't be surprised if those of us with brains and calculators do not agree with you.

Wookster wrote:

There you go - you've just proved my point. Can you please go back to talking things through sensibly?

In what way is putting people who disagree with you on ignore you "talking things through sensibly?"