Reply to: Throttle up the printing presses?

[GreenLabel]

...can't or won't take the medicine then you'd be right....

I doubt very much that the public has the stomach for austerity measures of a sufficient depth to even begin tackling the problem. I really don't envision the people taking the medicine at all, but I'd be happy to be proven wrong.

[suityou01]

I believe that default in some form is inevitable.

this

[sasguru]

I believe that default in some form is inevitable.

Maybe. The UK generates enough to pay back the deficit, provided that austerity measures are put in place.
Whether Dave can keep going with this is another matter.
Depends on the people. If the country has become weak and can't or won't take the medicine then you'd be right.
Our ultimate fate is to go cap in hand to the EC.

[HairyArsedBloke]

And presumably will never be paid back?

How will future recessions or financial shocks be handled when we are already saddled with such debt? Currency collapse? New world currency? Rip off the East somehow? War? All of the above?

I believe that default in some form is inevitable.

[TimberWolf]

The is no plans for any spending cuts.

In the June 2010 budget forecast, total expenditure goes up every year (table C13 toward the end). The only cuts have been to planned extra spending. Furthermore, it's going to take about 10 years before the debt stops growing and begins to reverse.

The whole budget is based on some wildly optimistic projections for inflation and economic activity.

And presumably will never be paid back?

How will future recessions or financial shocks be handled when we are already saddled with such debt? Currency collapse? New world currency? Rip off the East somehow? War? All of the above?

[HairyArsedBloke]

The is no plans for any spending cuts.

In the June 2010 budget forecast, total expenditure goes up every year (table C13 toward the end). The only cuts have been to planned extra spending. Furthermore, it's going to take about 10 years before the debt stops growing and begins to reverse.

The whole budget is based on some wildly optimistic projections for inflation and economic activity.

[Doggy Styles]

Give him some credit (and I didn't vote for his party btw) he's only been in power a short time. Besides which his policy seems be not "Austerity" but "cut the public spend and the private sector will more than make it up". Misguided, if you ask me, but we won't see if it succeeds for several years surely?

Good post. I don't think it is misguided personally, but that's beside the point you are making.

[sasguru]

Makes I laugh when unemployed permies spend all their time on a professional website for skilled and highly paid IT contractors.

I'm glad you've finally got that contract living out of a B&B up North. It explains why you've eased up on your posting.
But you need to realise that the more succesful and intelligent of your peers get loads of money for relatively light management tasks and hence can afford to post here on company time.

HTH

[MrMark]

Simply put - Austerity isnt working and will not get Cameron back in.


What to do ?

Print more money - give people more credit and then theres nothing to worry about.

Boomed.

Give him some credit (and I didn't vote for his party btw) he's only been in power a short time. Besides which his policy seems be not "Austerity" but "cut the public spend and the private sector will more than make it up". Misguided, if you ask me, but we won't see if it succeeds for several years surely?

[DimPrawn]

Here we go again - limited IT geeks trying to discuss Economics.
Makes I laugh ....

Makes I laugh when unemployed permies spend all their time on a professional website for skilled and highly paid IT contractors.

[AlfredJPruffock]

Simply put - Austerity isnt working and will not get Cameron back in.


What to do ?

Print more money - give people more credit and then theres nothing to worry about.

Boomed.

[AtW]

Admit it SasGuru, your Turing machine isn't quite at release stage yet.

His Tulip Posting Machine (tm) has been in full force for as long as I can remember, I just hope I'll live long enough to see him banned and then I'll start a new thread and...

[MrMark]

Here we go again - limited IT geeks trying to discuss Economics.
Makes I laugh ....

"Makes I laugh" ????

Admit it SasGuru, your Turing machine isn't quite at release stage yet. Best power it down and reply in person for a while. This board needs your invective, not the cheap imitation.

[suityou01]

Here we go again - limited IT geeks trying to discuss Economics.
Makes I laugh ....

shut it dinklehead

[sasguru]

Here we go again - limited IT geeks trying to discuss Economics.
Makes I laugh ....