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It is offical - Britain is now bankrupt
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The article is talking rubbish. Using Quantitive Easing (printing money) is not the definition of bankrupcy. It is used to get money moving when further interest rate cuts are no longer possible. It is a valid strategy although it is dangerous and can easily backfire.0
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I have seldom seen such nonsense. At least the Blogger admits in his profile:I am completely unqualified to write on economics, except for having read the Economist magazine for several years.
Printing money does not mean we are bankrupt. If this were the case the UK and many other countries throughout history would have collapsed. I agree with Reaper's comments.
Yawn...these "end of the world" threads are becoming so tedious. I suppose I should ignore them but I can't stop myself...
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All thanks to Gordon Clown. We'll be begging for a few shillings from the IMF soon enough.Krusty & Phil Madoff, 1990 - 2007:
"Buy now because house prices only ever go UP, UP, UP."0 -
"The bank is not going to buy the bonds to 'resuscitate the stricken economy' but will buy them because nobody else wants to buy UK government bonds."
Simply isn't true, the government has auctioned off all its debt so far without much problem. I didn't bother to continue reading after that.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
ad44downey wrote: »All thanks to Gordon Clown. We'll be begging for a few shillings from the IMF soon enough.
yeah of course the global economic crisis is down to him, and of course, robert peston.
why dont we blame krusty the clown, steven speilberg and harry potter while we are at it.Mr & Mrs Doomcow Wedding Fund: £10200/£18000 (by 04/2012) (spent £2000)
meiow meiow purr meep merp purr urble purrup
requires further financing0 -
"The bank is not going to buy the bonds to 'resuscitate the stricken economy' but will buy them because nobody else wants to buy UK government bonds."
The bonds that will be bought aren't Government bonds, they're corporate bonds / toxic assets!0 -
yeah of course the global economic crisis is down to him, and of course, robert peston.
why dont we blame krusty the clown, steven speilberg and harry potter while we are at it.
Its all my fault, guilty as charged
Liquidity is when you look at your investment portfolio and **** your pants0 -
It's official because some random blogger says so? :rolleyes:Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
Yes, if it helps the OP start another scare story. Go here for some more examples of his work.Paul_Herring wrote: »It's official because some random blogger says so? :rolleyes:"The trouble with quotations on the Internet is that you never know whether they are genuine" - Charles Dickens0
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