Extra £50bn pumped into economy

#1
Printing only £125 billion was not enough, it seems...

Extra £50bn pumped into economy

The Bank of England's rate-setters have decided to pump another £50bn of new money into the economy in their programme of quantitative easing.

It will take their total spending to £175bn, unexpectedly going over the £150bn set aside by the chancellor.

In a statement, they said that the UK recession "appears to have been deeper than previously thought".

Cont/...
People were saying the British economy had fallen off a cliff. Apparently, it "appears to have been deeper than previously thought." :x
 
#2
Let's cut the Defence budget from £35Bn to £15Bn instead in this new age of austerity!

Labour labour labour, out out out.
 
#4
Hmm there goes me grandsons university education.

edited becauseof banana fingers
 
#6
heard_it_all_before said:
Probably why the Pound dropped again.

B0llox! Just what I need before the hols. :x
 
#7
did this not happen under the last labour goverment in the 70's, perhaps Ashie could shed some light on why every labour goverment ends in the countries downward spiral?
 
#8
eodmatt said:
Hmm there goes me grandsons university education.

edited becauseof banana fingers
Don't worry about it. By the time he's ready to go, his secondary school will have been granted degree-awarding powers. Why not, every other bugger has been... :x
 
#10
big_mac4824 said:
did this not happen under the last labour goverment in the 70's, perhaps Ashie could shed some light on why every labour goverment ends in the countries downward spiral?

That's EASY!!!!!


As the Dear Leader said some years ago in one of his speeches…

'It's the duty of government to redistribute the nations wealth from the haves to the less well off'

And that in a nutshell is why Britain PLC always goes tits up under Labour, they rob the hard working to give to the layabouts.
 
#12
big_mac4824 said:
did this not happen under the last labour goverment in the 70's, perhaps Ashie could shed some light on why every labour goverment ends in the countries downward spiral?

Ashie is conspicuous by his absence lately and parliment on its hols too!!!

But like most spiv champagne socialists, he no doubt to busy at the moment off shoring his savings as his boss continues to spunk Britain down the toilet as is labours traditional way of ending there turn in power. We is fcuked init..... :x
 
#13
.

Let me get this straight. The banking crisis was caused by too much liquidity (money) in the economy, and reckless lending by the banks.

So the government's solution to the crisis is to pump even more liquidity (money) in the economy, and urge the banks to lend more.

Am I the only one who thinks the plan will fail, miserably??

.
 
#14
tekirdag said:
.

Let me get this straight. The banking crisis was caused by too much liquidity (money) in the economy, and reckless lending by the banks.

So the government's solution to the crisis is to pump even more liquidity (money) in the economy, and urge the banks to lend more.

Am I the only one who thinks the plan will fail, miserably??

.

It's simple!

If you are skint and you borrow money, you will magically appear affluent again and can buy everyone a round of drinks down the pub and buy lots of trinkets, of course, you now have to lend back even more money to the bank but you can repay the money using all your new found 'instant wealth'. When the money you've borrowed runs out, you will once more be skint and even deeper in debt.

THis is what Labour have done, but Gordon doesn't care becuase he's going to pay it back when the money runs out by going around to everyones house and doing a spot of breaking and entering after the Election, that's big tax rises to you and me.
 
#15
ferox_provincia said:
big_mac4824 said:
did this not happen under the last labour goverment in the 70's, perhaps Ashie could shed some light on why every labour goverment ends in the countries downward spiral?

That's EASY!!!!!


As the Dear Leader said some years ago in one of his speeches…

'It's the duty of government to redistribute the nations wealth from the haves to the less well off'

And that in a nutshell is why Britain PLC always goes tits up under Labour, they rob the hard working to give to the layabouts.
We as a Nation are renowned for rewarding failure and for sneering upon success. This notion starts within the schools and was introduced in the 70's under the Callaghan Government. Children weren't to be subjected to the rigours of failure and all, including life's born loser's, were to be rewarded with praise for being shitt.

Untill Elf & Safety put and end to it, the kid to come last in the sack race got a standing ovation, whilst the winner was looked upon with disdain.

No one likes a winner, but everyone applauds a looser.


I think we've been through a period where too many people have been given to understand that if they have a problem, it's the government's job to cope with it. 'I have a problem, I'll get a grant.' 'I'm homeless, the government must house me.' They're casting their problem on society. And, you know, there is no such thing as society. There are individual men and women, and there are families. And no government can do anything except through people, and people must look to themselves first. It's our duty to look after ourselves and then, also to look after our neighbour. People have got the entitlements too much in mind, without the obligations. There's no such thing as entitlement, unless someone has first met an obligation

Margaret Thatcher, talking to Women's Own magazine, October 31 1987
British politician (1925 - )
 
#16
parapauk said:
big_mac4824 said:
did this not happen under the last labour goverment in the 70's, perhaps Ashie could shed some light on why every labour goverment ends in the countries downward spiral?
Eh-hem...

http://www.telegraph.co.uk/finance/...-to-last-longer-in-Europe-than-in-the-UK.html
Eh-hem...

From your link, dated 3 Aug:
This is much later than the recession in the UK, which the report revealed is forecast to end within just three months.The BDO Output Index claimed that the prompt fiscal stimulus package and bank recapitalisation scheme is behind the speedy recovery of the UK.
From the BBC link at the top of the page, dated 6 Aug:
In a statement, they [BoE] said that the UK recession "appears to have been deeper than previously thought".
Moreover, being out of the recession first is probably a sign of quick fixes being applied for political purposes that will likely hurt even more down the road.
 
#17
tekirdag said:
.


Am I the only one who thinks the plan will fail, miserably??

.
No you aren't....the chap who 'invented' the concept of quantative easing has been on the news....he thinks it will fail miserably too :roll:
 
#18
halo_jones said:
big_mac4824 said:
did this not happen under the last labour goverment in the 70's, perhaps Ashie could shed some light on why every labour goverment ends in the countries downward spiral?
Ashie is conspicuous by his absence lately and parliment on its hols too!!!

But like most spiv champagne socialists, he no doubt to busy at the moment off shoring his savings as his boss continues to spunk Britain down the toilet as is labours traditional way of ending there turn in power. We is fcuked init..... :x
Ashie became conspicuous by his absence when his favourite African politician was given his old job back in Brown's cabinet.

Some say, the two events are not a coincidence. :)
 
#19
ferox_provincia said:
tekirdag said:
.

Let me get this straight. The banking crisis was caused by too much liquidity (money) in the economy, and reckless lending by the banks.

So the government's solution to the crisis is to pump even more liquidity (money) in the economy, and urge the banks to lend more.

Am I the only one who thinks the plan will fail, miserably??
It's simple!

If you are skint and you borrow money, you will magically appear affluent again and can buy everyone a round of drinks down the pub and buy lots of trinkets, of course, you now have to lend back even more money to the bank but you can repay the money using all your new found 'instant wealth'. When the money you've borrowed runs out, you will once more be skint and even deeper in debt.

THis is what Labour have done, but Gordon doesn't care becuase he's going to pay it back when the money runs out by going around to everyones house and doing a spot of breaking and entering after the Election, that's big tax rises to you and me.
No. That was New Labour's tactic up to 2008. They have now moved on to printing money to give the illusion that things are getting better. In fact, the BoE is now having to print even more money that Brown thought to be the maximum necessary.
 
#20
quantative easing… printing funny money

Now, when the Government prints funny money, that's called 'stimulating the economy'.


If I tried printing funny money that's called fraud and counterfiting and I go to jail.
 

Similar threads

Latest Threads

Top