Oh gawd, IMF put UK in the relegation zone

[suityou01]

BBC's Gloom and Doom

But what do they know, eh? The UK is uniquely well placed to ride out this global problem. First Citizen Gordon told us so himself.

I read that article. This bit ...

"The process of loss recognition and restructuring of bad loans is still incomplete," says the IMF's World Economic Outlook Update.

The IMF says future co-ordinated financial policies should concentrate on recognising the scale of financial institutions' losses and on providing public support to those institutions that are viable.

Now to simple folk like me, two things spring to mind

1) OMFG you mean they still haven't figured this out. I mean, wowzers, not like even close?
2) There must be a reason for this "ostrich approach". Now wait, I'm getting something. I know. Got it. The scale of the debt is so bad, and the thing so badly broken that there isn't enough money printed - even if they took it all - to fix the problem. Better stall for time, and fob off the masses with loads of bailout package rhetoric so we look like we are doing something. That'll get us votes.

My grasp of economics is basic, at best. I did think it a little scary when we sold all our gold reserves and became a theoretical currency.

Praps we could just talk the pound up against the dollar? Sweep the bad debts off the desk and into the waste paper basket while no one is looking?

[TimberWolf]

Well the UK's balloon was inflated more than any other so it stands to reason that it will make the loudest pop.

That's an interesting perspective. We boomed more so it's to be expected that we will bust more, and won't necessarily end up worse off than other 'advanced nations'. Insufficient data. Boomed.

[zara_backdog]

Fly halves can't sidestep these days since the rules that forced flankers to stay bound. They're all fairies, scared of 16 stone lumps moving at 20mph.

Just watch out for the Hookers.