Actually who does the UK owe the mega billions to...

Discussion in 'The NAAFI Bar' started by jemadarjo, Dec 12, 2010.

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  1. This country is in debt, or so the ruling elite says
    But who do we owe money to that does not also owe us money??
    The greatest stitch up ever in the history of mankind, and its being done by, well who
    The British Government of Tories and LibDem Prostitutes has decided to shut down..
    and now the Coastgard SAR

    All to pay for paper promises that investment banks have made to each other
    Is there an answer????

    Yes there is, it sounds daft, and I expect a lot of Arrse Thikkies, especially the Plod types to take the Pi55, But
    what if we all draw out any money we have in the bank and put it into the CoOp bank. Change our morgage as well,
    Then each buy 1 share, attend meetings, stop money going abroad

    Shut down companies like Vodaphone, who have dodgy deals with corrupt ministers
    Default on all debts to offshore banks!

    would somthing along these lines work to stop the accountants !!

    or will it come down to more street violance
    Or will we all do nothing and let our children pay
  2. msr

    msr LE

  3. The Bank of England, actually. Money out of thin air used to buy government bonds, as I understand it. But the basic premise behind the cuts is this: we spend more than we earn. So we need to stop spending more than we earn. Otherwise the bottom will fall out of our currency.

    Welfare exceeds income revenue. That's intrinsically unhealthy.
  4. Very good post BZ and perhaps the only member of ARRSE to (nearly) make an informative point without any sort of political opinion in it. According to wiki welfare spending equates to just over a fifth of our entire GDP, which is one hell of a lot.

    I would have been interested to see the 'overseas' category broken down further and just which johnny foreigner owns all our arses at the moment.
  5. Actually the government debt has almost nothing to do with the banking crisis and bailing out the banks (which is peanuts in the scheme of things).

    The government (Tory, Labour) all spent more than they raised through taxes. While the Tories were borrowing at a sustainable level (just), after the 1st 4 years of Labour, Gordon Brown decided to go on a spending spree and hire almost 1,000,000 useless fückwits to do useless, non-productive, State employed jobs. All with a lovely pension attached. Result? Britain has to pay the interest (soon to be over 40,000,000,000 GBP per year (more than Defence spending), let alone paying back the capital borrowed.

    And it will have to be paid back. Your lovely idea would work if a. you were not a complete economic illiterate and b. the population of Great Britain and Northern Ireland each, for every single man, woman and child in the Realm, had over 150,000 GBP in cash in a deposit account at the local bank.

    Gordon's plan was for hyper inflation to wipe out the debt. Sterling is one of the world's strongest currencies, despite having to be devalued by Labour in the 60's and again in the 70's (IIRC). Most of the debt we owe is in Sterling, but there is still a couple of hundred billion of debt in USD and Euros. If Sterling became worthless, then the debt we owed would consequently become worthless. The small flaw in this amazing plan from the Manse Jonah is that no other country would invest in us: American, French, German, Japanese, Chinese, Russian, Italian, etc, etc companies (and more importantly pension funds) don't like seeing the value of their investments plummet, so would move their investments elsewhere. Result? No cash for UK companies to grow and compete, imports would be hideously expensive. Sounds good for local products doesn't it and British exports? Fancy paying 250 quid a litre for petrol? Fancy paying 30 quid for a plastic bag? 1,000 quid for a pack of paracetamol? Didn't think so. 99% (made up figure, actual figure is nearer 100%) of products made in Britain, somewhere along the line, depend on a resource from overseas. Chemicals, petrochemicals, metals, fuels, lubricants, etc. North Sea is almost dead (15-30 years left) and Britain has almost no mineral resources except coal, tin and iron.

    Happy now?
  6. Thank You Dread,
    Can you now please explane why 20 years of accumilated debt has to be paid back this year, not over 20 years but today...
    at a unmeasurable social cost
    Taking away my childrens chance of an education
    Leaving my country almost defensless

    I admit to being an economic illeterate.. But You and the Economic elite of this country are no better!!!!!!!!!!!!!!
  7. Being paid back this year?????

    Are you on drugs?

    The UK will be paying back JUST BROWNS BORROWING for the next 30 years, without touching the capital of the borrowing before that.

    By the way: please tell me the percentage by which government spending has reduced this year in order to get "cuts"?

    Ohhhh that's right: government spending this year has increased. And is scheduled to increase next year. Just not as much as that loony Brown wanted. What you will find is that the government is trying not to waste quite as much cash as it used to.
  8. Ok Dread
    so we have 30 years to pay back the debt,
    Then why 40% cut in government spending,
    Why is has it come down to taking £30 a week of kids in higher education TODAY
    if there is no rush
    You are as economic eliterate as me, so stop talking shite!!!!
  9. Not just an economic illeterate (sic) either. You appear to be blaming this coalition government for all your perceived woes and ignoring the fact they have only been in for a less than 8 months. You also refer to the Arrse thikkies (sic) but even I know it is thickies and that mortgage has a t in it. And if the plods want to come in, let them. What's up, got done for having no road tax? Your last post, explane - accumilated- defensless - illeterate etc puts you at the King of the thickies. And who says it has to be paid back this year? The amount of debt would be too much to pay back in one year and is increasing all the time.
    What fucking social cost? The fact that we take in 300 billion in taxes and the social security bill is 320 billion a year? Probably but at least the coalition is trying to do something about that.
    How has anyone taken away the right to your children having an education? They still have an education or are you going to take them out of school? If you mean higher education, get fucking real and actually read what has been proposed.
    Leaving your county almost defenceless? Bollox with a capital B. The nuclear deterrent is still there, the Army is still well equipped.
    Now, either you have imbibed a wee bit too much of the Special Brew or you're a fucking mong who reads the headlines of newspapers (if you can read, of course) and are pissed off because your preferred brand of government were kicked out at a democratic election. Now get back in your maisonette and thank the Lord someone like Dread gave you a reasoned and rational response to what was, quite frankly, one of the dickest left wing posts it has been my misfortune to read.
    • Like Like x 1
  10. ExBleep
    to quote
    What fucking social cost
    The nuclear deterrent is still there" "

    So according to your reasoning, if the Falklands kicks off tomorrow, we nuke Bunos Aires...
    Go to the top of the pile of Arrse Thikkies.
  11. 1. It's Buenos Aires.
    2. You said MY country defenceless (or you would if you could spell it correctly). Sorry, didn't realise you were a Benny. I suppose that explains it.
  12. Are you retarded?

    You have a curious idea of what money is, the banknote in your pocket is legal tender not money. The simple fact is that this country has been spending far more than it earns for years and now the bill has to be paid. We are spending billions just on the interest on the loan, we are not touching the underlying debt. If I were to suggest to you that you fund your lifestyle by supplementing your income by credit card borrowing and that rather than trying to repay the loan you only made the minimum payment each month and further that you increase your borrowing limit every time you reached it you would rightly call me mad yet this has been government policy for decades although Brown elevated state debt to an art form.

    We have no money left, we cannot afford to live as we did.
  13. We can't live as we are now, never mind in the early naughty's.

    The whole country needs to cut back, and what was free can no longer be. Thanks Gordy, Thanks Tony.....
  14. Ord_Sgt

    Ord_Sgt RIP

    nswer: BBC News - Who owns the UK's debt?

    That would be the UK, or are you stupid?
  15. This is a personal view so it's probably wrong
    It has become too easy to obtain goods: By this I mean that as long as you had a credit card you could go into any High Street retailer and obtain items. There was a time that if you wanted a house you had to put down a deposit; you could get 125% motgages. If you wanted a car you you had put dow 10 or 15%, likewise a TV etc
    For the last few years I worked for a High street electrical retailer. We used to get young couples coming in and they would spend £5k on TVs, washing machines and Heaven knows what else and it was all on credit. One knew that they certainly didn't have the where with all to service that level of debt.
    Our parents had a horror of debt and I reckon they were probably right