Telegraph: UK facing worst financial crisis in decades

Discussion in 'Current Affairs, News and Analysis' started by KGB_resident, Mar 18, 2008.

?
  1. No doubt

    13.2%
  2. Rather yes

    18.9%
  3. Not sure, but the threat is real

    47.2%
  4. The problems are solvable

    15.1%
  5. A Great Depression is impossible

    5.7%

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  1. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/18/nmeltdown818.xml

     
  2. What do you mean 'facing'? We're well and truly in one - and it'll just get deeper......
     
  3. nothing great about depression.........................
     
  4. Housing is unaffordable and at daft prices compared to wages.

    Gordon and his chums chuck money freely at unworthy causes and mis manage the economy.

    Tax dodging cheap labour from abroad takes money out the country.

    There is a debt culture well beyond average means.

    Credit is thrown at you (unless you are HM Forces and live or have lived at a BFPO in the last 2 years).

    WTF did we expect? Greedy banks, careless individuals and stupid mortgages are to blame.
     
  5. Cheap labour from abroad might take some money out of the economy, but overall they add net value.

    I agree with all the rest though. Markets are cyclic (as is everything) we've had the good times and we'll naturally now have the bad times.
     
  6. Biped

    Biped LE Book Reviewer

    I disagree - how many immigrants are sending money back home to families - I suspect it's to the tune of a billion or 5.

    That aside, it's got bugger-all to do with the state of the economy per se., what it is down to is MOSTLY Labliar's mismanagement of OUR economy.

    The UK is one country in the EU that can least afford a global downturn right now - and why is this? Because all the debts that Thatcher paid off to put us back in the black after years of screw-ups has gone, and Labliar have put the country BACK into tens of billions worth of debt again - money that can only be paid back through higher taxes, just as the country finally feels the pain of Labliar rule.

    The chickens are truly coming home to roost, and the global fright and downturn is just another nail in the coffin that Labliar have put us all in.
     
  7. No big suprise,really
    Labour inherited an economy in good shape,but, not really having any idea how to keep it that way soon started acting like kids in a sweet shop
    spending OUR money left right &centre,sure in the knowledge that they could always screw us for more,
    You can fool all of the people some of the time............
     
  8. I remember in my last term of Uni in '98 a mate of mine who was one of the outstanding economics graduands of my year predicted all this almost to the year.

    He had analysed the first year of New liarbour and Broons strategy and painted the future crisis we are now in - I clearly remember my mate saying that Liarbour will be in Govt for 16 years and that in year 12 it would go Pete Tong because of Broon's long term damage.

    Suffice it to say my Uni mate is now a very wealthy man and I am not.....I must remember to call him and see who he fancies for the Grand National this year.
     
  9. Ord_Sgt

    Ord_Sgt RIP

    Hundreds of billions Biped, around about 600 billion to be precise.

    I'm reading the bumper book of government waste (2008) at the moment. It's downright fcuking criminal the way they are throwing our money away. The book conservatively estimates they are blowing needlessly about 101 billion pounds a year, it then goes on to detail all the crap they waste money on. I can only take in a chapter or two at a time as it gets the blood pressure right up I can tell you.

    If they had done a half decent job we would have a several hundred billion pound surplus now to see us through the coming difficult times. But this bunch of second raters have pi$$ed it all away. Labour does the country never learn they cannot be trusted. :oops: :x
     
  10. Time to take a more robust approach with the 'won't works'. Tagged vouchers (none of them for fags and booze) not dosh would be a good start. HMG need to make economies and HMAF have already made a big enough contribution. Spread the pain Broon.

    Has someone got coffee on?
     
  11. I say again; the government of this country is in unsafe hands...

    ...Time for a change :roll:
     
  12. UK facing worst financial crisis 'in decades' eh? your either 'aving a larf, or this is a wah.......

    'wah-meter off'

    The UK's been facing a financial crisis ever since 1997 when Blair the conman got in and that fiscaly incompetant so called chanceller Brown got the keys to the piggy bank... truthfully, the decline started then, its just taken 10 years or so to get to this sorry state and for the country to finally begin to wake up... or should I say yet another generation of votors to wise up to the fact labour has always 'f*cked it up.

    I just hope we arent going back to the old Conservatives sort it out and Labour screw it up cycle again.... With any luck this is the last Labour Govt we will see for the next ten zillion years!

    'wah-meter on'
     
  13. Dear sir,

    your obedient servant dares to note that the title of the thread is in fact a direct quote from the respectable British newspaper.

    Personally, I don't believe that problems of British economy and financial system are so severe.

    Thanks God, British people has experiensed leader, skilled ministers, inventive businessmen and bankers

    Edited to add

    ...and many other thieves