Reply to: UK doomed by size of debts thread..

[AlfredJPruffock]

Xog, Your poem doesn't rhyme and it's not split in to verses.

Sort it out will you.

Please - if I may be so bold ...allow me -


A Ring a Ring of Labour Roses
A Pocket Full of Socialist Posers
Atishoo - Atishoo !!!

We all Fall Down !!!

[Pondlife]

Xog, Your poem doesn't rhyme and it's not split in to verses.

Sort it out will you.

[xoggoth]

That thing Timberwolf linked to has been on several news sites for quite a while. Well worth a read.

Britain’s fiscal and economic problems
result from grotesque mishandling
of the economy under the 1997-
2010 Labour administration. Gordon
Brown’s reform of the financial
regulatory system, and his insistence
that the Bank of England determine
monetary policy on the basis of retail
inflation alone, resulted in a reckless
escalation in mortgage lending.
The ensuing property price boom
spurred unsustainable growth in a
plethora of housing-related sectors,
and underwrote a rapid expansion
in consumer borrowing. Believing
that this bubble was real growth,
Brown spent up to, and beyond, the
apparent expansion in the tax base
that had resulted from the propertydriven
boom. Real public spending
increased by 53% in a period in which
the economy expanded by just 17%.
As soon as the bubble burst, a chasm
rapidly opened up between excessive
spending and falling tax revenues.
In addition to skewing the economy
towards debt and public spending,
Brown and his colleagues imposed
ever-increasing regulatory and
fiscal burdens on business, and
simultaneously transferred resources
from private industry into a public
sector whose productivity was subject
to continuous decline. This weakened
the overall productivity of the
British economy.
Labour’s period in office was
characterised not just by economic
and fiscal mismanagement but also
by the promotion of a culture of moral
absolutism centred around spurious
and selective concepts of ‘fairness’.
This culture, and the accompanying
sense of individual and collective
entitlement, is the biggest obstacle in
the way of effective economic reform.

[sasguru]

Your mind works in binary only. .

Definitely low level IT support
His school reports were right, I'm guessing the word "Average" figured hugely.

[BrilloPad]

10.39am: Germany's debt auction has also just concluded --- and the breaking news is that it has sold just over €4bn of the €5bn of 10-year Bunds on offer.

The Bundesbank reported that it sold €4.057 of 10-year Bunds. The yield (or interest rate) on the debt fell slightly to 1.93%, from 1.98%, but this is the second auction in a row where the German Finance Agency has been forced to retain some debt.

We'd flagged up at 9.58am that there was a risk that the auction might not be fully subscribed (David Schnautz of Commerzbank called the results very accurately).

The result certainly isn't a disaster, and it would be wrong to suggest that 'the markets' suddenly don't trust German debt. Looking at the table of results -- Germany actually received more than €5bn of bids, but presumably some of the bids were unacceptably low.

10.36am: Here come the auction results -- with the British debt sale going smoothly.

The UK Debt Management Agency just reported that it sold its £3.75bn of five-year gilts at an average yield, or interest rate, of 1.106%. That's a drop from 1.143% at the last auction of this kind.

============================
Eurozone crisis:
============================
Looks like sterling is doing quite well.

[DodgyAgent]

Maybe this might give you a clue:

Total Debt to GDP (%) | Global Finance

Which compares debt levels between the UK and Euro zone countries, also for financial institutions.

Have a nice day.

You dont do perspective do you? Your mind works in binary only. Its right or its wrong debt is good or it is bad, banks are in debt -bad. No inkling that maybe the type of debt or when the debt is due really comes into your sort of equation. The same with global warming - it is or it isnt good or bad etc etc.

[sasguru]

So what?

That might as well be the signature to all BB's posts.

I reckon he's low-level IT support.
Whcih means I get to keep my large house and he gets to keep hid hand-to-mouth existence in his bedsit in Euroland.

[darmstadt]

I confirm that I saw this bet proposal.

Now if only BlasterBates confirms he works in intellectually demanding occupation he could be moving into new bedsit over a kebab shop next to Wandsworth HMP.

No, shed at the bottom of DA's garden...

[DodgyAgent]

Maybe this might give you a clue:

Total Debt to GDP (%) | Global Finance

Which compares debt levels between the UK and Euro zone countries, also for financial institutions.

Have a nice day.

So what?

[BlasterBates]

British banks are more insolvent that Euroland banks?

Maybe this might give you a clue:

Total Debt to GDP (%) | Global Finance

Which compares debt levels between the UK and Euro zone countries, also for financial institutions.

Have a nice day.

[AtW]

British banks are more insolvent that Euroland banks?

Dunno, do they even have casino banks in euroland?

[sasguru]

I suppose it's difficult to see the relevance of the atricle if you're as thick as pigsh*t, but I'll spell it out to you for the benefit of the interested reader.

Many major British companies are now facing bankruptcy, who are funded by British banks who are themselves effetcively insolvent, and the subsequent losses will be funded by the tax payer.

Many major Britsh companies are facing bankruptcy? What's new, companies go bankrupt all over the world all the time.

British banks are more insolvent that Euroland banks?

I 'm guessing security guard. Or maybe some type of simple clerical work.

[BlasterBates]

SO what was the relevance of your post above about "Major British Companies Facing Administration" which implied ordinary non-financial firms were in more trouble than other countries?
See what I mean about not having a mind like a steel trap? You post complete irrelevant crap like a doddery old fool with Alzheimers.


PS You still haven't told us if you're a janitor or a security guard.

I suppose it's difficult to see the relevance of the atricle if you're as thick as pigsh*t, but I'll spell it out to you for the benefit of the interested reader.

Quite a few British companies are now facing bankruptcy, who are funded by a British bank who is effectively insolvent, and the subsequent losses will be funded by the tax payer.

Just demonstrates the extent of the corporate debt problem in the UK and the fact that both non-financial and financial companies are in trouble.

I think if you're as thick as pigsh*t you wouldn't notice when Alzheimers came along.

[sasguru]

No.....

The argument was, whether the debt was with foreign firms...i.e. that the UK didn't have a problem itself.

Lets just look at the thread title again shall we



But I suppose reading posts properly is difficult if you're as thick as pig sh*t

SO what was the relevance of your post above about "Major British Companies Facing Administration" which implied ordinary non-financial firms were in more trouble than other countries?
See what I mean about not having a mind like a steel trap? You post complete irrelevant crap like a doddery old fool with Alzheimers.


PS You still haven't told us if you're a janitor or a security guard.

[BlasterBates]

I thought we were talking about non-financial sector UK corporate debt.

No.....

The argument was, whether the debt was with foreign firms...i.e. that the UK didn't have a problem itself.

Lets just look at the thread title again shall we

UK doomed by the size of debts

But I suppose reading posts properly is difficult if you're as thick as pig sh*t