Portillo on the BBC last night
"It seems perverse that the government is going to lower interest rates to get of out of a situation caused by interest rates being too low"
Spot on that man!
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Reply to: UK PLC - A Basket Case
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Previously on "UK PLC - A Basket Case"
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Originally posted by expat View Post.....
I saw an interesting comment on pensions:
Worker: "I'm economising for the next year by not paying into a pension for that period."
Commentator: "Wrong! You are merely not paying into your pension. You're still paying into civil servants' pensions."
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Originally posted by Liability View PostLol - all this doom and gloom
- UK will NOT collapse
- We will recover
- We will be ok within the next 18 months
This is just a cycle which occurs and will occur again near 2018 and then again, and again. Contrary to what you read in papers - alot of the debt will be written off via various mechanisms similar to how we paid off USA after the war.
Best plan. Drop interest rates to zero NOW. Force banks to lend at gunpoint and get the bubble inflating forever.
199% mortgages at 1000x income anyone? Borrowed interest only over 200 years.
Sorted!
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Originally posted by Turion View Post.....Now he's in the last chance salon ....
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Originally posted by ace00 View PostWHS
& the rest. You are also paying for the inflated public service and for their pensions, which is really going to hurt. And the up coming wave of personal bankruptcies, increased unemployed + 5% rise in benefits, PFI interest charges, Jonathan Ross' severance pay, I could go on..............
I saw an interesting comment on pensions:
Worker: "I'm economising for the next year by not paying into a pension for that period."
Commentator: "Wrong! You are merely not paying into your pension. You're still paying into civil servants' pensions."
Leave a comment:
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Originally posted by ace00 View PostWHS
& the rest. You are also paying for the inflated public service and for their pensions, which is really going to hurt. And the up coming wave of personal bankruptcies, increased unemployed + 5% rise in benefits, PFI interest charges, Jonathan Ross' severance pay, I could go on..............
- UK will NOT collapse
- We will recover
- We will be ok within the next 18 months
This is just a cycle which occurs and will occur again near 2018 and then again, and again. Contrary to what you read in papers - alot of the debt will be written off via various mechanisms similar to how we paid off USA after the war.
Leave a comment:
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Originally posted by Liability View PostYes.
& the rest. You are also paying for the inflated public service and for their pensions, which is really going to hurt. And the up coming wave of personal bankruptcies, increased unemployed + 5% rise in benefits, PFI interest charges, Jonathan Ross' severance pay, I could go on..............
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Originally posted by expat View PostAm I right in thinking that when I bought my house, the price was inflated because I was bidding against people who shouldn't really have had a mortgage available for that amount; and now I have to service my mortgage and pay taxes to bail out banks and will have to help people who overspent too?
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Am I right in thinking that when I bought my house, the price was inflated because I was bidding against people who shouldn't really have had a mortgage available for that amount; and now I have to service my mortgage and pay taxes to bail out banks and will have to help people who overspent too?
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Originally posted by Turion View PostNow he's in the last chance salon and digging us deeper into debt to try to save his own neck at the next election. Not much chance of that, but we're all gonna have to pay it back sooner or later.
Fraid to say, but going by the popular press and the way labour manipulate the news coverage on TV, I think he has a very good chance of being elected if he times it right. It's all very well these intellectuals telling us their opinions, but the average Joe in the street won't be reading them.
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UK PLC - A Basket Case
A good article and justly sums up this country's predicaments Although many factors are to blame, top of the pile is good ol'Gord of Labour. Trust him to screw up big time by encouraging all this to happen and believing that he had abolished busts. Now he's in the last chance salon and digging us deeper into debt to try to save his own neck at the next election. Not much chance of that, but we're all gonna have to pay it back sooner or later.
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