Britain should not fear asking for IMF cash

Discussion in 'Current Affairs, News and Analysis' started by armchair_jihad, Apr 4, 2009.

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  1. No shame, shame is a Tory lie!

    2.2%
  2. Yes, Labour have done it again!

    45.7%
  3. Can we get a 56 inch plasma TV from the IMF?

    6.5%
  4. We are so fcuked we have no choice

    30.4%
  5. Nonsense Big G will see us through..green shoots!

    0 vote(s)
    0.0%
  6. Ohhhh like a Spa thats nice I'll have some of that!

    2.2%
  7. Only if we don't have to pay it back

    13.0%

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  1. The Press and public are being groomed by Labour to accept the inevitable

    http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5101950/Britain-should-not-fear-asking-for-IMF-cash.html

    After all its just like signing on..isn't it? When things are tight and you need some help whats wrong with it? So what if the Country is 'on the social' its not our fault its our glands...work injury...human rights....didn't read the small print.....
     
  2. Oh My My, Labour has skint the Cunrty AGAIN.
    Second time in my adult life.
    I was too young to remember when they where kicked out back in 50 and not born after their first attempt at socialization in the 30's.
    Yes get a Labour government and they'll Spend Spend Spend and your grandchildren can sort out the mess they leave.
    john
    and please remember the UK economy was on the up and up when Labour was voted in back in 79.
    Even Gorden agrees tho he he will not say it. Blind Barstward.
     
  3. Why go to the IMF just fire up the printing presses and print trillions then buy back your own debt with the newly minted money. Is the American way and the Lord and saviour Obama says it will work...well till the inflation kicks in.

    Look we can spend our way out of debt, so say the wise politicians.

    I am looking in to a new laser printer and some good paper and am going to print up what I owe on my house and buy the note back on Monday. :D

    I have also bought a wheelbarrow and a brown shirt in case it all goes pear shaped, goose stepping lessons are next.
     
  4. Where is the IMF cash going to come from, though? So far only Japan, the EU and China have promised hard cash to a total of $240bn. That leaves quite an empty space in the piggy-bank and how Japan's going to afford to give $100bn with their manufacturing industry tanking, I don't know. Perhaps borrow it off the IMF? :D
     
  5. Labour and the IMF a relationship loaded with failure. Oh yes, they have done it again.

    Socialists, entirely predictable. Hope they are looking forward to life on the political scrap heap.
     
  6. "... The IMF mandated massive currency devaluations and higher taxes and tariffs for South Korea in 1980, Chile and Mauritius in 1982, and Jamaica in 1978 and 1983. In every case, the predictable result was a deep collapse in production and employment, and a huge increase in inflation. South Korea's economy, for example, shrank by 5 percent in 1980 and inflation jumped to 35 percent. The IMF proudly points out that trade deficits did, however, "improve" -- which merely proves that devastated economies cannot afford even essential imports.

    Once free of the IMF's python-like embrace, reformed IMF victims often adopt the exact opposite policies.........

    Today, IMF policies continue to bring great pain, and relief still comes only if and when those policies are discarded. Argentina appeased the IMF by enacting sizable tax increases every year from 1998 through 2001, then it robbed its citizens last January by abandoning a promise to convert pesos to dollars, 1-for-1. The results of rising taxes and falling money are now painfully obvious.

    Russia was under the IMF's thumb from 1992 through 2000, with the customary disastrous effects. ........

    Countries with too much debt and too little income do not need more IMF debt, and they do not need the lower income that follows IMF austerity schemes. Their companies and workers should be encouraged to produce more income, not less. And when it comes to debt, they need workouts, not bailouts.

    IMF bailouts just make local politicians and their foreign bankers more careless, guaranteeing more trouble ahead. If the IMF has any legitimate role to play in preventing or fixing economic crises, it has yet to be demonstrated in practice."

    http://www.cato.org/pub_display.php?pub_id=3618
     
  7. deleted
     
  8. What the government really needs to do is get a hold of all of those tax dodging companies and owners, the ones that cost the country tens of billions every year.

    I won't hold my breath though, most of these companies and owners donate to 'new' labour and they usually have a name that begins with 'Sir' or 'Lord', and at present most of them are scrounging off the government, let alone even contemplating having to actually pay their dues.

    A good little story that's come out of this banking crisis, since the UK government now have a controlling interest in RBS, HBOS and so on, we now have a stake in several offshore tax avoidance shell companies in places like Jersey, Lichtensein, Gibraltar and the Cayman Islands!
     
  9. Given that THIS TIME Labour have got us into debt of the same magnitude that we were in after WW2 its going to be a very long climb back. A damned site longer than the 1970's nightmare. And without the satsifaction of actually having SAVED THE WORLD FOR REAL i.e. defeating the Nazis.
     
  10. So, once again a Labour Government reachs their inevitable end game: a fcuked economy and begging to the IMF.

    Only thing missing from last time round is a proposal for a Wealth Tax. Oh wait.....

    Introduce a Wealth Tax
    Call it the Child Poverty Charge, and use the proceeds to fund the requisite policies
    guardian.co.uk, Tuesday 17 March 2009

    www.guardian.co.uk/com...y-children
    _________________
     
  11. And this morning Save the Children demanded action from the government in the face of rising food costs which they claim will hit the poorest children in the UK.

    The softening up process has well and truely started. We will go cap in hand to the IMF, meet their requirement to raise taxes by hitting the wealthy (especialy the hated bankers) and all the money will be "invested" in the poor children and the unfortunates on the dole due to nasty rich people's actions.
     
  12. Doesn't matter what Gordon calls it, we've reached the stage where increasing tax rates will lower the government's income.

    A general increase in tax will cause low earners to drop out of employment as they become better off on benefits.

    A general increase in tax, or measures aimed at high earners such as the proposed 45% top rate will exacerbate emigration of skilled people. It's not just bankers that earn over £150k. Doctors, entrepreneurs, business owners and wealthy celebs will be joining the growing queues at Heathrow.

    Of course, MPs also earn over £150k but you can bet your pension that they'll be exempting themselves from any new taxes that they impose on the rest of us.

    The only way to deal with this mess is by way of massive spending cuts. Gordon would rather die than force his fellow MPs to downgrade to business class so I fear it'll be downhill all the way to the election.
     
  13. 'and all the money will be "invested" in the poor children and the unfortunates on the dole due to nasty rich people's actions.'

    Or as Richard Littlejohn has been saying for years 'it's all for the Baybees and the Little Old Laydees!'
     
  14. IMF handouts come with the strings attached, who is going to run UK economy and to who's benefit?