"Dire consequences", head of IMF

lostinrates

ninky wrote: »

The head of the IMF is warning of war and catastophe...

Haven'tclicked the links yet, but will read later, thanks Ninky.

My question would be what sort of ''war'' can we afford another proper war, even if some wanted one? Or are they taking fighting in the streets a turn on the bourgeoisie? The latter would pose a problem in UK as those who might traditionally be opposed to the bourgeoisie are very much part of it now. Pretty much regardless of social backgorund the idea of buying into property, and becoming, through homeownership or BTL or whatever, capable of 'wealth production: we all sawe the idea, anyway, whether we could/wanted to buy into it is ofcourse debatable.

StevieJ

Wookster wrote: »

They couldn't even get that right.

How many stories have I heard of f@cked up tax credit calculations costing the taxpayer billions of pounds.

Goodbye Labour thieves.

Surely you didn't expect Brownie to be in the SS office calculating the tax credits as well

abaxas

Rochdale_Pioneers wrote: »

He appears to be agreeing with Gordon Brown. According to some that makes him automatically wrong.

The problem is that you can match everything to GB.

He's tossed, turned, uturned, lied, spun so much you can quote him on almost all sides of the argument.

Eg It started in america providing Obama isnt about
I will not let house prices get out of control (lol)
etc etc

StevieJ

abaxas wrote: »

The problem is that you can match everything to GB.

He's tossed, turned, uturned, lied, spun so much you can quote him on almost all sides of the argument.

Eg It started in america providing Obama isnt about
I will not let house prices get out of control (lol)
etc etc

I thought that Obama aknowledged that fact when they were on stage together.

Lotus-eater

lostinrates wrote: »

My question would be what sort of ''war'' can we afford another proper war, even if some wanted one?

We can always afford war, no matter how broke we are. War is one of those strange things, that you never think can happen again, then suddenly it all starts going and it seems like the right thing to do.

And the winners write the history books.

Rochdale_Pioneers

StevieJ wrote: »

I thought that Obama aknowledged that fact when they were on stage together.

He did. It did start in America. Thats been accepted by everyone apart from the frothers still trying to insist that it was Brown because its only happening here and we're uniquely placed to have the worst recession of anyone. I know the facts disagree with them, but bless they do try very hard to make a point no matter how stupid it may be.

Conrad

Generali wrote: »

All this chucking around of GBP x,000,000,000s of quid of borrowed money isn't going to help anyone long term.

It will help in the sense this cash will help fill the void whilst the tide is out.
Each of us then has to pay this back through a few extra thousand in Taxes, but thats a small cost over a lifetime, for a substantial benefit to the majority.

Lets say it costs me an extra £10,000 in Tax, and live to be 80. Thats 0.68 pence per day over 40 years.

dervish

Conrad wrote: »

It will help in the sense this cash will help fill the void whilst the tide is out.
Each of us then has to pay this back through a few extra thousand in Taxes, but thats a small cost over a lifetime, for a substantial benefit to the majority.

Lets say it costs me an extra £10,000 in Tax, and live to be 80. Thats 0.68 pence per day over 40 years.

and what did you get for your 10,ooo pionds? Very little I would imagine...

Rochdale_Pioneers

dervish wrote: »

and what did you get for your 10,ooo pionds? Very little I would imagine...

Lets see. Prevention of the complete collapse of the banking system. Prevention of a slide into another great depression. Prevention of a collapse into state protectionism and war. Prevention of society sliding into mass unemployment and mass poverty.

Yes, seems like a reasonable bill. When you consider that the world economy nearly died on 15th September last year I think we've got away with it with remarkably little damage.

Conrad

dervish wrote: »

and what did you get for your 10,ooo pionds? Very little I would imagine...

Mmm, the luxury of dwelling in a relativly wealthy society - lucky I was born here as so many in the world have nothing. If we don't inject this money the economy will fare much worse. A small price to pay.