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

#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..
Education
Defence
NHS
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
 
#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
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.
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
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!!!!!!!!!!!!!!
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.
 
#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
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.
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
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.
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
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.
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.....
 
#15
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.
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
 
#16
For me Happybonzo has hit the nail on the head although this ease of credit availability is not just personal but commercial.
Am I so wrong for thinking that people on benefit shouldn't be able to have a car (unless as part of a disability scheme) or Sky, holidays and the latest mobile phones etc.
I've never been eligible for benefit and the one time I tried, just after leaving the service when I spend my gratuity on a training course I couldn't receive any as I was 'in full time education'.

It will take at least a generation to try and lose the benefit culture which is at the heart of this countries problems.
 

Travelgall

MIA
Kit Reviewer
#18
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..
Education
Defence
NHS
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
Jeez where to begin. Most of the posters have covered your economic illiteracy. Lets look at your "factual" absurdities. Cutting the NHS - well I would like to hope so. Unfortunately the NHS Money pit is getting even more dumper trucks worth of my cash into it. Hopefully with even more money they won't nearly kill me as state healthcare did last time I had the misfortune to use it.

Education. Rather a big area that. Do you mean little kiddies doing finger painting or annoying 19 year olds doing worthless degrees in Media Studies. Because either way they will not be closing Education down. They want to shift Education to the voluntary sector and away from Communist Teacher Unions and worthless town councils.

Defence - ZanuLabour left a £32Bn black hole. I'm actually thankful our army doesn't look like the Weimar Republics Armed Forces.

Draw our money out of the bank and stick it in the Co-Op. How much profit does the Nicaraguan Lesbian Coffee Growers collective make in profits? Real banks put your money in real investments - not organic hemp peace crisp production like the Co-op. And where is the Co-op going to borrow all the money to lend to you for your new mortgae with the Co-op? From those evil bankers who will borrow money abroad - oops they can't because you've decreed that money is stopped from going abroad. Therefore they won't lend the money because you've said they can't get it back.

Buying one share in these companies. And you propose to get the boards of private companies to listen to you with your 0.000001% of the company over Institutional investors who own 5% of the company and who actually want the company to make a profit for the pensions they run?

Furthermore you want us to default on all debts to international banks. The same banks you expect to lend to us to continue your fiscal incontinence to cover the debts built up by the previous government to pay for all the diversity outreach co-ordinators "Jobs" Labour built up to try and grow their Public Sector Client state.

Shut down companies like Vodafone. Yes Comrade and shoot those capitalist pigs. How do you think money is earned for the State? In itself the State generates zero income - it merely steals it from the Private Sector. Even tax avoiding Vodafone still pays some tax that pays for doctors and nurses. And how do you propose to shut this industry down bearing in mind we live in a free country? How do you propose to employ all those people working at Vodafone?

You offer nothing except more "Street Violence". Notice how taxpayers who paid for the previous administrations incompetence weren't swinging off the Cenotaph flags. Basically your argument is... continue bilding up the debt or we'll spit the dummy even more.

As for letting our children pay who do you think will pay for this huge amount of debt that the Baby Boomer generation currently enjoying political power have built up?
 
#20
Travelgal, just for you, now sit back and read slowly...
"""Cutting the NHS - well I would like to hope so""" Never going to be Ill or grow old are you.
"""away from Communist Teacher Unions""""
Had a big problem at school did you, socially isolated.
""" I'm actually thankful our army doesn't look like the Weimar Republics """
I dont want it to look like a banana republic army,
""" Real banks put your money in real investments"""
Today the Bank of England has said they do not!.
"""Shut down companies like Vodafone. Yes Comrade and shoot those capitalist pigs. How do you think money is earned for the State"""
You really are out of touch, Vodaphone have avoided 8 Billion in tax this year 8 Billion, More than the government pay to Universitys so stop talking shite
 

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