UK PLC - A Basket Case

[Bagpuss]

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!

[ace00]

.....
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."

Economist recently had an article on this. If you are a "regular Joe" in the UK then you are paying more in tax to fund just public sector pensions than you can possibly invest in your own pension. In effect, the government are stealing from you.

[milanbenes]

LOL

Dim, excellent.

Milan.

[DimPrawn]

Lol - 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.

As long as you keep voting Labour we will be okay. For gods sake don't let them Conservatives get in. They'll only try and unravel the mess and open Pandora's Box.

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!

[Peoplesoft bloke]

.....Now he's in the last chance salon ....

All this going on and he's having a haricut? No wonder we're doomed!

[expat]

WHS

& 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..............

No price is too high to see Ross get his pink slip.

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."

[Liability]

WHS

& 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..............

Lol - 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.

[ace00]

Yes.

WHS

& 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..............

[Liability]

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?

Yes.

[expat]

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?

[foritisme]

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.

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.

[Turion]

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.

http://uk.biz.yahoo.com/31102008/404...sket-case.html