Where will this financial madness end?

Discussion in 'Finance, Property, Law' started by jagman, Feb 13, 2009.

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  1. And the Bonus's released to the FSA at at yesterday and they were the ones who were under Broon, were alseep on the job........... :x :x
     
  2. It will end with the next general election.

    Until then, it'll be business as usual. Broon and Darling will continue to do their Laurel and Hardy act. The bankers will continue to laugh like the shop keeper in Harry Enfield's 'We Saw You Coming' sketch while they trouser public money for bonuses.

    There has been talk of 'fairer' taxation so I suspect that anybody who actually works for a living will be grabbing their ankles for Alastair at the budget in April. Possibly a 45% top rate of tax and more NI. With the increasing torrent of emigration, we may see ex-pats paying tax if they want to retain British citizenship, as happens with American ex-pats.

    Like the Home Office, I'd expect to see some rioting in the summer, especially if the weather's nice. Who doesn't enjoy torching some poor b@stard's car on a balmy summer evening as a protest against government economic policy? Especially true if you've just had your house repossessed by a government owned bank who then rent it out to the government to accommodate chavs/asylum seekers/single mothers while you are homeless but taxed to pay their rent.

    By next winter, in the run up to an election, anything could be on the cards. The Bank of England will be printing money to pay the bills so inflation will be through the roof.

    Gordon will have realised that he's not the Messiah, just a very naughty boy so I shudder to think what sort of mental state he'll be in. I just hope he swamps on live TV before he goes.

    With no cash available for anything other than MPs' expenses, there'll be public sector strikes in a rerun of the Winter of Discontent.

    The rest of us will be partying like it's 1979, waiting for the new government to start picking through the wreckage of our economy. Most will be oblivious to the fact that it'll take a decade to sort this mess.
     
  3. Now we know the banks are run by idiots, along with the government, I am wondering just how much of the lost billions has been stached in Swiss numbered accounts for these crooked barstewards for when the dust settles, A nd now we find out the gas companys are screwing us, and what do the two fools do?
     
  4. 'Gordon will have realised that he's not the Messiah' - I think that will be the last thing that will happen, he still thinks the mess was created by ABG (anyone but Gordon).

    'Most will be oblivious to the fact that it'll take a decade to sort this mess.' - Not a decade, our grandchildren will still be paying to sort it out. What is compounding the fiasco is that, while the Golden Goose (the private sector) is dying on its feet, the public sector is recruiting like crazy. On a recent trip to the land of the oatmeal ethnics, the Glasgow Herald (a broadsheet) had 4 pages of jobs - all except 4 were public sector in some way shape or form. Whilst I realise that the blessed Gordon feels that this should be a private sector only recession, it cannot go on like this.

    Unfortunately, those that created the mess are too greedy/stupid to see it
     
  5. msr

    msr LE

    With Britain slipping from the global 'top table'
     
  6. Biped

    Biped LE Book Reviewer

    Guess that's why he's delaying the budget for another month then. He can't find enough spin doctors to fcuk his way out of how it's going to look.

    Covered - RIPA and various other new laws to stop us getting angry and protesting.

    Anyone see the possibility of the troops being called back from hot places to guard the streets - of course not - they'd be too unreliable in such a role - they might turn.

    We've been saying that on here for weeks and weeks, and the 'pundits' are now saying it live on telly. Hide your gold teeth.

    By swamp, I hope you mean 'vomit blood and guts from every orifice until all that's left is what's normally taken out by lyposuction, and skin before he dies'.

    He'll keep spending to stop that happening and keep the train going just long enough to see the Conservatives pick up that bag.

    Get yerself a job in the public services - I hear it's quite nice this time of year.
     
  7. Why bail them out? Break it up and start selling chunks off. We don't support private enterprise with unprofitable arms any more do we. So break it up, sell off the superfluous bits, and leave the bits of direct relevance to UK customers. Once you do that, with a firm commitment from the bank to actually service UK customers with a high powered proven CS in the seat , then by all means stick my tax money in.

    I do not want my tax money funding lifestyles , I want it contributing to getting a new Hamster for the wheel.
     
  8. ugly

    ugly LE Moderator

    The banks shouldd be allowed to fail the sam as any other business. You stand a good chance of your debts and mortgages being sold on or wiped out which is why I suspect the Govt are flapping like cnuts about it!
    Its never going to be a free market economy with big socialist handouts when the muppets drop the ball.
     
  9. The nightmare will be just beginning when, in the summer of 2010 the recently elected Prime Minister, David Cameron, stands up in the House of Commons and says,

    "Now that the Government had had a few months to examine the true financial state of the country bequeathed to us by the previous administration, it falls to me to tell you just how deep a hole we are really in."
     
  10. Both Ancient_Mariner and Bonzo_Dog are right on the money in my opinion.

    "We're doomed, Captain Mainwaring, doomed"!

    Litotes
     
  11. The thing that grips my nipple ends is that all we are achieving is saving those who hold debt instruments in the banks. The ordinary shareholders are toast - that's a given - but there are people holding corporate bonds, debentures, senior debt, preference shares...........every time we "save a bank" all we do is bail out these people to no public benefit.

    Let it go bust, flog it as a going concern for whatever it will raise, use that money to pay HMRC, the workers, preferred creditors, until the money runs out, and move on. It isn't rocket science. This idea that there's something called "the banking system" that has to be saved. A bank is copper wire, optical cable, and knowledge workers. If it goes bust they remain. Engineering companies go bust on Friday and open up on Monday with new owners. No reason why banks can't.

    Of course, those who have complicated transactions with bust banks would much prefer that taxpayers pay thousands of million, but that wish (and their distress) ain't a reason.
     
  12. Britain faces collapse unless several sacred cows are sacrificed.

    Number one has to be the public sector pension scheme.

    Number two has to be the DSS handouts for asylum seekers/chavs/single mothers and other scum.
     
  13. Unfortunately that won't happen until Liabour are out of office or the IMF are called in. They rely on those people to vote for them!
     
  14. So that will be the AFPS as well then?