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When Austerity Meets Reality
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Graham_Devon wrote: »
Why would they choose the UK over all the other surrounding countries?
They know we will let them in as they send everyone else here;)"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Er, but a third of the UK national debt is now owned by the Bank of England, which bought it all with funny money that it made up out of nothing.Don't try explaining this to socialists, particularly champagne socialists like Ken Livingstone, Hollande, Milliband etc as the concept of a limited supply of money is just simply way beyond their ability to comprehend.
There's no limit to the supply of money so long as it's backed by confidence that government bonds will be serviced on the nail and not subjected to haircuts.
And the UK is still a long long way from not being able to service its debts."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Rather than borrow more we could reduce the amount of money spent abroad and try to get it to circulate here instead."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Hardly surprising that Mr Hollande won popular support during the election. When the ticket he was running on consisted of aa 'farewell to austerity' programme, which combines taxing the rich, raising public spending and lowering the retirement age
Be interesting to see how it delivers his promises?
A tax on UK banks perhaps.......0 -
Well taxing the rich can't possibly work, because of course they will all run away (even though their tax-avoidance schemes mean that they don't and won't pay any tax anyway).Thrugelmir wrote: »Be interesting to see how it delivers his promises?"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
I know all eyes are on the possibility of Greece leaving the Euro but I would not be surprised to see France decide to leave. France only ever took the Euro grudgingly and many there would be happy to see the Franc return. Hollande gave a very patriotic speech last night. Nationalism and Protectionism are close bedfellows in times of austerity. A return to the Franc would give them the power to devalue.
The EU and Euro worked while it promised peace and prosperity to all, if that changes to austerity and civil strife the French I think will be one of the first to back out under president Hollande.[FONT="]“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ~ Maya Angelou[/FONT][FONT="][/FONT]0 -
Perhaps the French are onto something here - it might just work too. The economy is a very complex system and although it might seem obvious that the solution is to cut government spending the emergent behaviour of the economy could be the exact opposite to what is intended. History is littered with examples of this and many books have been written on the subject.
Personally I am unconvinced austerity measures will fix the problems we face. It will be interesting to see what happens.0 -
Graham_Devon wrote: »Austerity, at this moment in time, appears to be the only thing that will work. .
Graham....
You really, really, really need to learn to look at the bigger picture.
We have Nazi's being elected into modern European parliaments, !!!!!!.
Austerity, at this moment in time, is demonstrably the very thing that is not working.
Once again, there is no price too high to pay in order to prevent a re-run of the 1930's in Europe.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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