The Bye Bye Gordon Countdown Thread

[Peoplesoft bloke]

I've been inclined to supporting the hairy arsed one's point of view that actually a minority labour govt and then a sterling crash and IMF rescue would finally force Britain to sort out the debt problem and drive it home to people that a Labour government is economic suicide.

However, look what's happening in Greece. Public sector 'workers' are going on strike, raising red flags, rioting and generally trying to disrupt the whole country, because socialists are simply incapable of facing the simple truth that if you keep spending more money than you have and keep spending other people's money, someday you'll run out of other people's money and go bust. They still can't face facts. Greece is bust. Without the IMF that will mean no oil, no electricity, no food imports, no loans for businesses, no jobs and no salaries. Are British socalists any more realistic than their Greek comrades? I don't think so.

Hang on - wasn't it the banks who pissed all of others cash away

[Mich the Tester]

Hang on - wasn't it the banks who pissed all of others cash away

Yes, and governments who have never worked within the limits of the money they recieve in taxes. Take on debt and you make yourself a slave of the lender and open yourself up to the merry go round of debt trading that is the credit market. Do that on behalf of citizens and you are enslaving your citizens.

[SizeZero]

Have the markets indicated that they are expecting a turbulent day by planning to open extra early or anything?

It seems so, at 1 am

[Churchill]

It seems so, at 1 am

Dirty Spekulants!

Don't tell AtW, he'll have a thrombosis!

[Peoplesoft bloke]

Yes, and governments who have never worked within the limits of the money they recieve in taxes. Take on debt and you make yourself a slave of the lender and open yourself up to the merry go round of debt trading that is the credit market. Do that on behalf of citizens and you are enslaving your citizens.

So companies and individuals can borrow cash but never governments ?

[Mich the Tester]

So companies and individuals can borrow cash but never governments ?

Yes. that's called free will. Governments don't just decide for their voters, who almost never represent a majority; they also represent those who can't vote, like children, residents of other nationalities etc. They also must provide a stable financial environment where individuals or businesses can take risks without the consequences of those risks destroying too many others.

[Peoplesoft bloke]

Yes. that's called free will. Governments don't just decide for their voters, who almost never represent a majority; they also represent those who can't vote, like children, residents of other nationalities etc. They also must provide a stable financial environment where individuals or businesses can take risks without the consequences of those risks destroying too many others.

So no borrowing ever if you are a government?

[Mich the Tester]

So no borrowing ever if you are a government?

You've pushed me to refine my point; I don't necessarily mind bonds being raised for specific, costed capital investment like bridges, railways, tunnels and airports that have a solid economic value. I object however to governments spending more money day to day than they recieve day to day. Brown ran a deficit, not to expand the capital investments needed to keep a modern economy going, but to waste on useless databases, ethnic peace bicycle lane consultants and quangos. Now Britain is paying the price.

[Mich the Tester]

You've pushed me to refine my point; I don't necessarily mind fixed term bonds being raised for specific, costed capital investment like bridges, railways, tunnels and airports that have a solid economic value. I object however to governments spending more money day to day than they recieve day to day; that includes payment of interest on those bonds. Brown ran a deficit, not to expand the capital investments needed to keep a modern economy going, but to waste on useless databases, ethnic peace bicycle lane consultants and quangos. Now Britain is paying the price. Actually, what I'm saying isn't really all that radical; it's part of Germany's constitution.

[Churchill]

You've pushed me to refine my point; I don't necessarily mind fixed term bonds being raised for specific, costed capital investment like bridges, railways, tunnels and airports that have a solid economic value. I object however to governments spending more money day to day than they recieve day to day; that includes payment of interest on those bonds. Brown ran a deficit, not to expand the capital investments needed to keep a modern economy going, but to waste on useless databases, ethnic peace bicycle lane consultants and quangos. Now Britain is paying the price. Actually, what I'm saying isn't really all that radical; it's part of Germany's constitution.

So was invading Poland, look what trouble that caused...