Where is the passion?

cashbackproblems

MegaMiniMouse wrote: »

There is zero certainty about the outcome of the government's cuts. The whole thing is a massive gamble. The situation was created by the banks, and yet the banks get richer by the day while the government stands by and says nothing. You and I are about to start paying the price.

It's time to wake up

MMM

I agree. This "bank levy" is an absolute joke, the figure of taxing the banks 2.5bn seems like a lot and to your man up North will seem like wow the govt is doing something...however this amount split between the banks isnt even loose change, they pay more collectively for their xmas parties!!

I work in an investment bank so know some of the deals tht come threw how much we make on each one.

Loughton_Monkey

MegaMiniMouse wrote: »

There is zero certainty about the outcome of the government's cuts. The whole thing is a massive gamble. The situation was created by the banks, and yet the banks get richer by the day while the government stands by and says nothing. You and I are about to start paying the price.

This situation was certainly not created by the banks. This is what the Labour Party keep trying to have you believe.

Don't get me wrong. I'm not saying the banks are 'good guys'. What banks have done is to lend, lend, lend, encouraging massive personal debt, which cannot be paid. As a consequence, most of their assets went belly-up, and the Government stepped in to re-capitalise them.

Now, totally separate from this, and over the last 15 years, something completely different has happened. Brother Brown & Co have consistently been spending more and more money, to the extent that we now have an absolutely massive debt. You will not find, within that expenditure, anything relating to banks, since the bank bail-out is purely a "Capital" issue, and very little to do with revenue.

Taxation income went up and up, so spending on benefits and tax credits went up more and more. Over 800,000 new public sector jobs were created, very few of them in any "front facing" job like nurses, doctors etc. All the extra bureacracy is costing us all £billions.

The legacy of the banking crisis includes the massive slump in house prices, the drying up of loans, with a consequence of much less spending - destined to put a sharp decline on taxation revenue.

Not to be deterred, Brother Brown decided not to address the consequent increase in the gap between income and expenditure, by austerity, but by spending even more in the short term.

So let us all be a little bit more rational in our debates and keep the two issues separate. They are only linked by Brother Brown's rather suicidal decision to make the initial over-spending crisis even greater under the smoke screen of the banker's equally diabolical behaviour.

What has happened is the equivalent of a family that has, for 15 years, been earning £50K and spending £52K. Inevitably, something's going to hit the fan. Imagine that eldest son comes home to announce that he tried a bit of gambling, but lost £30K.

Now father has to re-mortgage the house to pay back the £30K and keep his son out of trouble. This would be a good time, also, to control his own spending because not only was he getting deeper and deeper in debt, but no, he spends even more to keep his family 'happy'.

The son will eventually pay 'daddy' back (we hope) but sure as hell Daddy better control his expenditure back down to what he can afford!

StevieJ

mbga9pgf wrote: »

^^^^ Retard. Have you got a full set of chromosomes and a functioning brain?

A vote for Labour is a vote for state bankrupcy.

You can only have what you can pay for thicko.

You really are ridiculous.

StevieJ

Loughton_Monkey wrote: »

This situation was certainly not created by the banks. This is what the Labour Party keep trying to have you believe.

Is it Neptune, Venus or even Mars you come from? because if this problem was purely created by Labour then no problem we could look to the rest of the world to pull us out of this mess unfortunately vast swathes of the world have similar problems if not worse including the demand engine of the world.

martinbuckley

The Blue Rinse brigade would have you believe all the world problems stemmed from Blair & Brown's reign.

kabayiri

StevieJ wrote: »

Is it Neptune, Venus or even Mars you come from? because if this problem was purely created by Labour then no problem we could look to the rest of the world to pull us out of this mess unfortunately vast swathes of the world have similar problems if not worse including the demand engine of the world.

I think Labour were gullible really during the boom noughties. They were easily seduced by those city bankers and their amazing ability to dredge profits out of nowhere.

Why, it was so good, people talked about 'trickle-down-economics'. There was no need to have a diversified economy strong in the regions. Instead, the vast sums of money in the capital would surely find it's way out to grateful poorer regions.

And we wonder why we have chunks of the North East / Wales / North West dependant on public sector work? The politicians helped to engineer an economy they are now busy trying to undo. Perhaps they are not that bright after all.

lpp1980

cashbackproblems wrote: »

Either way my votes with Labour in next election!

I agree, they did so well last time.

iolanthe07

Even if the recession is global, Labour did their best to exacerbate the problem by over spending for the years 2002(ish) to 2007, thus making our situation much worse than it otherwise might have been. Far from 'Prudence', Brown was spending money like it was going out of fashion and creating tens of thousands of extra public sector jobs, which will now have to go. Labour always manage to screw the economy - the Tories had to sort it out in 1952, 1970, 1979 and now again in 2010. History repeats itself. I think Labour probably mean well, but they just can't seem to get out of the habit of spending other people's money - the curse of the left.

Rotor

I thought that was a concise and erudite precis Monkey. Yes many other countries have lead/followed us into deficit and debt but that still doesn't make it good policy.
From the Bible through to Keynes and beyond it was thought prudent to run a surplus in the good years in order to enable counter cyclical provision in the bad years. Not Brown / Blair though ;- deficit in the good years , !!!!!!ed in the bad

RJP33

Lets be fair in one regard, our problems are not mainly because of a 'global economic meltdown' they are because even in the years before the recession we were spending well over our GDP which was completely unsustainable. Once receipts were down the mess was complete.

It's a labour myth'blame strategy that it somehow all the fault of the bankers. If they'd have stored some food for the famine years we'd be no worse off now than Canada or Australia.

I'm sure most intelligent people can see that hence why they lost the election.