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Cameron: "Years of Pain Ahead"
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If that is way you see it, looks like the Yanks were up to the same trick, and the Germans have got a higher deficit and they didn't do any of that, well up to a couple of months ago anyway :eek:
Not suggesting the Americans are any better (they're just as bad).....the Germans, at least, they're supporting most of Europe0 -
supporting??? i don't think they have much of a choice...Old_Slaphead wrote: »Not suggesting the Americans are any better (they're just as bad).....the Germans, at least, they're supporting most of Europe0 -
Old_Slaphead wrote: »Not suggesting the Americans are any better (they're just as bad).....the Germans, at least, they're supporting most of Europe
Which suggests the problems are a bit more widespread than merely a Brown induced UK centric crash which has been the common unthinking rhetoric on these boards over the past couple of years.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Thrugelmir wrote: »A mortgage is dependant on an income stream over 25 years to repay the debt. The income stream is in no way guaranteed.
The Tawainese factory in China where suicides have been rife recently. Has awarded there employees an 70% payrise. Which takes there monthly pay to around £200.
At a point there has to be divergence of global pay. The extremes between economies will diminish.
At the G20 it was Canada, Brazil, India and China which opposed the unilateral banking levy. Why? Because these are the economies which are growing, becoming wealthier, and don't have the baggage of to contend with.
I agree. I think the West has been living with the assumption that the status quo will continue indefinitely and we can continue to live on very cheap Chinese goods whilst those workers are paid peanuts and treated like crap. We can now see this is not going to happen, Europe's demographic is headed in one direction and its socialist monolith has proven to be disfunctional. Europe is headed for terminal decline.0 -
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Which suggests the problems are a bit more widespread than merely a Brown induced UK centric crash which has been the common unthinking rhetoric on these boards over the past couple of years.
I agree that problems are widespread but the stats in your table appear to indicate that the British Government arrived at the party very late but quickly caught up by gobbling up all the pies in sight (and in the process generated a huge appetite for more).
Maybe other countries debt is larger but the UK's is growing much quicker. Even the severe austerity measures will only slow down the percentage budget deficit to TWICE that which Brown thought was reasonable some 5 years ago.0 -
you also have to look at the maturity of the debt.Old_Slaphead wrote: »I agree that problems are widespread but the stats in your table appear to indicate that the British Government arrived at the party very late but quickly caught up by gobbling up all the pies in sight (and in the process generated a huge appetite for more).
Maybe other countries debt is larger but the UK's is growing much quicker
some countries have short to medium term maturity debt which is going to catch up with them eventually. the UK issue doesn't really have this issue which is obviously a good/better situation to be in.
as i understand it - that means the austerity measure if implemented can be done over a longer period with less 'pain' but the same effect.0 -
you also have to look at the maturity of the debt.
some countries have short to medium term maturity debt which is going to catch up with them eventually. the UK issue doesn't really have this issue which is obviously a good/better situation to be in.
as i understand it - that means the austerity measure if implemented can be done over a longer period with less 'pain' but the same effect.
Agreed - funding doesn't appear to be critical in the short term. The younger generation should be concerned at having to fund this deficit in 10-20 years. That's simply not fair.0 -
Old_Slaphead wrote: »I agree that problems are widespread but the stats in your table appear to indicate that the British Government arrived at the party very late but quickly caught up by gobbling up all the pies in sight (and in the process generated a huge appetite for more).
Or took action to soften the recessionary blow (hence unemployment Spain 20% UK 8%).'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
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