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Osborne Loses It - Our Triple A Rating And Its Future
Comments
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paulmapp8306 wrote: »Agreed, but neither of those show the last 2 years - which in essense is whats being stated here.
The deficit and the National Debt are going upwards and nobody in their right mind thinks that austerity will bring it down - the exact opposite will happen austerity will make the debt grooooooooowAusterity will raise UK's debt burden, warns Niesr
Britain's sweeping austerity cuts are stifling economic growth and raising rather than lowering the country's debt burden, according to the National Institute for Economic and Social Research (Niesr).The respected think-tank said that Britain's debt to gross domestic product (GDP) ratio will be 4.85 percentage points higher by 2013 because of the spending cuts and tax rises introduced by the Coalition government.
http://www.telegraph.co.uk/finance/financialcrisis/9645990/Austerity-will-raise-UKs-debt-burden-warns-Niesr.html"Not only would growth have been higher if such policies had not been pursued, but debt-to-GDP ratios would have been lower," said Niesr economists Jonathan Portes and Dawn Holland.If you keep doing what you've always done - you will keep getting what you've always got.0 -
paulmapp8306 wrote: »Agreed, but neither of those show the last 2 years - which in essense is whats being stated here.
still, its the shape of those graphs that was worrying. At least under the cons it was rounding off - with the Labor chart god only knows where we would now be.
Also, shows WHY the cons havent managed to reduce the debt yet. Look how sharp it was going up - you have to reduce the "increase" before you can cut the total.
Well ones 19 years and the other 13 years for a start...but theres periods in both where its gone through the roof.
Theres no doubt its flying now as we have the worst worldwide situation in a century....and theres no growth.
Lets hope the economy starts growing from here...its no good for your health never mind everyones pocket.0 -
The Chancellor needs to borrow £100billion more than forecast....If you keep doing what you've always done - you will keep getting what you've always got.0
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But his piggy-bank will lend it to him. And interest-free now too.The Chancellor needs to borrow £100billion more than forecast....
If I were him I'd borrow more and stooze it."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 -
The amusing thing about public spending is how students are so in favour of more of it.
I guess nothing they're studying has clued them up to exactly who it is that'll be paying back that debt.0 -
Jegersmart wrote: »The situation has nothing to do with which set of politicians are or have been in power, almost every nation has had the same growth in debt over the past 20+ years.
If you have a monetary system based on debt then the growth of debt is more or less inevitable. It has become acceptable on all levels to leverage future growth or earnings to use credit to fund "projects" which increases the debt further. The UK government which has about 150% of its income as debt at the current time, is still below the level of indebtedness enjoyed by most homeowners who have 225%+ of income as debts on their property. With fairly large commitments around welfare, healthcare, defence and other major centres of cost for the government that are more or less fixed the difference that another political party can achieve is extremely limited.
imho
J
I don't always follow the meaning of your threads but on this I do and concur.
This isn't just the fault of one party, it is through them all cumulatively that we are where we are. Labour just happened to be there when the rug got pulled.
If it still remains OK to blame Labour, in 2 years time can we just all swap seats and start blaming conservatives for not sorting "it" out?"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 -
as we have the worst worldwide situation in a century....and theres no growth.
Must be all down to Labour."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 -
You are on another planet. Blanchflower is 100% wrong consistently, then threatens to sue people who show him up to be wrong. Needless to say he is yet to actually sue them as he knows that any attempt would failWho Knew????
LINK
Mr Blanchflower & The Labour Party consistently proven to be right by events....sadly...
http://order-order.com/2012/11/15/!itch-fight-of-the-week-david-blanchflower-v-tory-treasury/
You will need to replace ! with b for this link to work
http://order-order.com/2012/12/04/blanchflowers-bizarre-rant/0 -
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angrypirate wrote: »In the grand scheme of the 1 trillion pound of debt, mainly racked up by the Labour government, that works out at 1%.
Not for long :eek:
1997 350
2010 760 increment 410
2012 1120 increment 360
2013 ?'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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