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IMF says Britain must relax austerity if eurozone crisis escalates
Comments
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Apparently Lagarde shivers at the thought of where our finances would be without the deficit reduction
I thought we hadn't cut anything yet, according to some on here anyway 
Having read the IMF statement it seems to be a wonderful review in hindsight written by some group with a degree in stating the blinking obvious.
The big levers have been pulled but the train is still blundering down the track, like many western economies, to a greater or lesser extent."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 -
homelessskilledworker wrote: »Nicely summed up labour policy in good and bad times, which is borrow today and worry about it tomorrow. .
No different to any Government over the last 40 years raping and pillaging the nations assets to keep the country afloat on its gradual decline. It is like we have been run by asset strippers.
Labour just happened to be in the driving seat when the western economy crashed."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 -
The problem is, when you take an analogy literally, you end up looking like a retard.
Please try to avoid that in the future.
Imagine if I responded with, "Agreed, but what if the person who owned the business won the lottery. Then put all their winnings on black and won again. Then put all those winnings on trap 3 at the greyhounds and won again. Then the debt would be paid off"
Disagree for too risky."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 -
homelessskilledworker wrote: »Nicely summed up labour policy in good and bad times, which is borrow today and worry about it tomorrow. I can fully understand why Cameron and Osborne annoy so many people, but their austerity cuts are not as nearly as bad as they could have been.
For those that are agreeing with that ambitious power hungry !!!!!! Ed Balls want to take a visit to Greece, Spain, Ireland or Italy to name just a few, that is what I call real painful austerity cuts as opposed to our own gentle cuts.
I should imagine their austerity cuts were a result of being in the Euro, (i.e. feasting on cheap borrowing), Well done Labour for keeping us out :beer:'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 -
I should imagine their austerity cuts were a result of being in the Euro, (i.e. feasting on cheap borrowing), Well done Labour for keeping us out :beer:
The austerity cuts are a result of gross overspending, which was made possible (but not obligatory) by being in the Euro. Countries like Greece really only have themselves to blame.0 -
grizzly1911 wrote: »No different to any Government over the last 40 years raping and pillaging the nations assets to keep the country afloat on its gradual decline. It is like we have been run by asset strippers.
Labour just happened to be in the driving seat when the western economy crashed.
So when Gordon Brown was overspending by £30bn in 5 budgets he was "just a passenger"?
When he sold Britains gold reserves at a ridiculously cheap price, he was "just a passenger"?
When he raided private pension pots to buy votes he was "just a passenger"?
We would have had a recession, there's no doubt about that, but we would be much better placed had our Government saved in the good years.
Anyone who voted for Labour in the last election, anyone who has voted for them since is a traitor to Great Britain and should be hung for it.The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.0 -
HAMISH_MCTAVISH wrote: »Inevitable.
You can't cut your way out of a recession.
No - but you can cut yourself out of debt - which is at least as big an issue if not more so (for the UK) than a recession which is not just confined to these shores.
IMO, its one of the biggest misunderstandin (not the right word but still) between the 2 major parties and their supporters. On one hand you have the blues endorsing CUTS to ease DEBT - which is needed. On the other you have the reds endorsing SPENDING to ease the RECESSION. There two different issues (though there is a little cross over).
What is needed is a priority - Debt easing or climbing out of recession. Given the state of ther est of Europe re Debt, I personally think the Blue camp has the right idea at present.0 -
So when Gordon Brown was overspending by £30bn in 5 budgets he was "just a passenger"?
When he sold Britains gold reserves at a ridiculously cheap price, he was "just a passenger"?
When he raided private pension pots to buy votes he was "just a passenger"?
We would have had a recession, there's no doubt about that, but we would be much better placed had our Government saved in the good years.
Anyone who voted for Labour in the last election, anyone who has voted for them since is a traitor to Great Britain and should be hung for it.
No different to selling our social housing stock at undervalue.
No different to presiding over the sale of our utilities an their associated assets.
No different to mortgage Lending deregulation.
Using North Sea oil revenues to keep the books in balance.
Even though we are being told to invest in Pensions I don't see Conservatives in a hurry to restore the pension pots, by restoring the tax break.
No doubt we would still have gone to some of the wars to keep us in favour with the US.
Cancelling Nimrod and then deciding we really do need an Early Warning Capability, this time buying it from overseas. Selling Off VSTOL carrier aircraft on the cheap and then deciding we really do need them and buying them form overseas.
Handing train contratcs to German companies.
I doubt any government would have "banked" the surpluses they would simply have been spent on different things.
This country has an ever expanding population and therefore need to spend on infrastructure to cope with this ever growing need.
This country is a leaking bucket and no Government does anything to stem the outflow.
The crash would still have happened.
This is a free democracy and people are entitled to vote for whoever they wish. Great Britain no longer exists apart from in the columns of This England."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 -
To reduce debt, you have to achieve a budget surplus. This is hardly ever done, and then only for odd years. A sustained budget surplus may as well be viewed as impossible, so the debt isn't going anywhere.paulmapp8306 wrote: »IMO, its one of the biggest misunderstandin (not the right word but still) between the 2 major parties and their supporters. On one hand you have the blues endorsing CUTS to ease DEBT - which is needed. On the other you have the reds endorsing SPENDING to ease the RECESSION. There two different issues (though there is a little cross over).
Doesn't matter, because a more sensible target is debt as a fraction of GDP. The debt/GDP ratio peaked at 250% after the war and fell steadily to 50% over the next 2 or 3 decades. This was done not by reducing debt but by increasing GDP.
So economic growth is actually the key to managing debt."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 -
grizzly1911 wrote: »No different to selling our social housing stock at undervalue.
No different to presiding over the sale of our utilities an their associated assets.
No different to mortgage Lending deregulation.
Using North Sea oil revenues to keep the books in balance.
Even though we are being told to invest in Pensions I don't see Conservatives in a hurry to restore the pension pots, by restoring the tax break.
No doubt we would still have gone to some of the wars to keep us in favour with the US.
Cancelling Nimrod and then deciding we really do need an Early Warning Capability, this time buying it from overseas. Selling Off VSTOL carrier aircraft on the cheap and then deciding we really do need them and buying them form overseas.
Handing train contratcs to German companies.
Is this the best you can do? I have no love for the Conservatives but these are debatable at the very best. Lending deregulation, in my opinion, was a good thing. English prime residential lending market is particularly strong and performing well. Look to Ireland/US etc. for the alternatives.
The North Sea oil point is a particular highlight of your stupidity.I doubt any government would have "banked" the surpluses they would simply have been spent on different things.
This country has an ever expanding population and therefore need to spend on infrastructure to cope with this ever growing need.
This country is a leaking bucket and no Government does anything to stem the outflow.
The crash would still have happened.
This is a free democracy and people are entitled to vote for whoever they wish. Great Britain no longer exists apart from in the columns of This England.
From 2000 to the recession Britain's overall indebtedness rose 80%. Germany's rose 7%. The crash would still have happened, boom and bust exists, but we would have not felt anywhere near the pain and this would have meant we could have shored up world power. As it is we will disappear into the abyss.
You may be proud to see your country go down the toilet, I'm not. Thanks for voting Labour, I hold you personally responsible and anything you whine about on this forum in the future I will remind you that it is your fault.The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.0
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