Many have laughed off the enormous “Stimulus” packages of Obama as if they not only wouldn’t work, but will cost the country dear as well.
Over here, we’ve had austerity rammed down our throats, and unlike the Tories last losing slogan of “Yes it hurt, Yes it worked” we now have taken all the pain with bugger all to show for it. Jobs are still being lost, the high street is still being destroyed, foreign firms that are responsible continue to pay near no tax whatsoever in this big extraction of liquidity from the UK economy.
This Friday’s 13:30GMT unemployment report due to be released in the states is expected to show that last month created 160,000 new jobs (non-farm therefore non seasonal) and making over a million jobs created for the past year.
Compare that to here, where we’re told that Osbourne is paying down the defecit (a complete lie - he’s borrowing ever more every month!) and we’re going out for the long-term future good.
We’re not of course, as our kids are going to be laden with the debt, and they’ve already taken steps to avoid paying it themselves by refusing to work except for a profit (Shock horror!)
The big question I have therefore, is who will own us in ten year’s time?
Winseer:
Compare that to here, where we’re told that Osbourne is paying down the defecit (a complete lie - he’s borrowing ever more every month!) and we’re going out for the long-term future good.
You appear to be labouring under a mistaken assumption there.
Osbourne is paying down the DEFICIT, in that he may be borrowing but he is borrowing less each year.
Once the DEFICIT had been paid down to nothing, he can start working on the NATIONAL DEBT, which is the bit you are hung up on. Thats the bit that is still growing because Labour couldn’t give a ■■■■. They knew they had lost the election before they even started campaigning, so the went hell for leather to ■■■■ it up for the incoming government.
Osbourne isn’t paying off the debt, infact he has deferred billions of debt by issuing gilts.
That means are kids and grandchildren will inherit the debt, meanwhile the torries pat them selves on the back for getting rid of this huge debt caused by them lefty labour lot.
More inward investment needed now, to stimulate are stagnant economy.
And the square mile in lovely London wher the wonderful investment bankers, stocks and shares men work needs overhauling and tightly regulating.
And before anyone says how much money they generate for UK plc, don’t forget what breed of greedy couldn’t care less individuals caused this current world economic crisis.
Once unemployment in the US falls below 6.5% the Federal Reserve will start to raise interest rates, my prediction is that this will be towards the end of 2013. When the Fed raises interest rates we will have little choice but to follow and that is when the waste body matter will interface with the rotating ventilation device.
Thereal-john:
And before anyone says how much money they generate for UK plc, don’t forget what breed of greedy couldn’t care less individuals caused this current world economic crisis.
They do generate a fair bit for UK plc. They have been greedy, but so have many truckers who have switched from one job to another doing the same ■■■■■ for a pound an hour more.
I will ask you to recall what kicked off the problems, and that was a US bank going balls up, not a UK one. Dont blame it all on City of London investment banks, they were not alone.
If I run up an overdraft of £1000 this year, and another £800 next year, making £1800 in all, plus the interest, then since at end of year two I’ll owe £1800 plus interest instead of the £1000 plus interest at the end of year one, I’d say it is totally CORRECT in my suggestion that “I have run up more debt in the last year” rather than “OOoh! I’ve paid down the defecit” as you would have it.
Let’s not mince words here. We’re more in debt than we were before. The debt therefore is not being paid down. The rate of the debt’s climb might be slowing, but that cannot and does not count, since it is merely a form of juggling smoke.
Suggesting that “slowing the rate of debt climb” is a good thing is like describing someone due to live to age 100 as “terminally ill” because they get a day closer to their death each day that passes…
The CORRECT way to pay down what this country owes is to
(1) Stop issuing new bonds. Make do with the cash we’ve got. If there’s not enough to pay all those top civil servants on the payroll, then lay them off without paying them - just as a small business would do, especially in the transport/agency sector! Default the redundancy payout? - well why not? it happens to some at the bottom now and again!
(2) Only spend money on things that return money in the short to medium term. HS2 should fit this category, but these idiots think that taking over a decade in this day and age to build a railway is cool… We could have done it in half the time a century ago, despite being on the verge of WW1!
Juggling figures is to keep the rich in possession of their wealth, and the poor in their place, unable to rise.
Tax regimes should penalise those with big earnings here who then pay no tax, and take that wealth abroad.
Encouragement on inland re-investment (to pay less tax on profits) needs to be enshrined. I’m not the enemy of Business - Just the crooked ones.
Assets are not to be taxed whilst left in the UK, and utilised. Mothballing property instead of selling it on means you’ll pay tax on it. Selling it on for a profit means you’ll pay tax on it. Opening a new outlet means you won’t. Simples.
Harry Monk:
Once unemployment in the US falls below 6.5% the Federal Reserve will start to raise interest rates, my prediction is that this will be towards the end of 2013. When the Fed raises interest rates we will have little choice but to follow and that is when the waste body matter will interface with the rotating ventilation device.
That’s a way of saying “The unemployment rate will never actually get there, so we can keep interest rates down here with a clear conscience.”
I agree that our rates will likely rise with US ones when they eventually do however.
Winseer:
Compare that to here, where we’re told that Osbourne is paying down the defecit (a complete lie - he’s borrowing ever more every month!) and we’re going out for the long-term future good.
You appear to be labouring under a mistaken assumption there.
Osbourne is paying down the DEFICIT, in that he may be borrowing but he is borrowing less each year.
Once the DEFICIT had been paid down to nothing, he can start working on the NATIONAL DEBT, which is the bit you are hung up on. Thats the bit that is still growing because Labour couldn’t give a [zb]. They knew they had lost the election before they even started campaigning, so the went hell for leather to [zb] it up for the incoming government.
I was not aware that the Deficit does not include the rolled-up interest upon the debt already in issue, plus the new debt as well, plus the admin costs in issuing new bonds, plus the bribes to investment bankers to actually get them to both push the new bonds on the market, and underwrite the issue if they can’t shift them all! - All this gets paid for adding invisible figures to the “deficit” which effecively is just the minus rate of financial gain of this country the way you have described it.
The defecit would disappear overnight IF we made a profit on those things new money were borrowed for. Instead, it’s used to pay the government’s “household bills” like Civil Service payrolls, Benefits, and all those other things that were supposed to be bought and paid for out of the tax revenues already raised. In this regard, ConDem are just as bad as Labour, or maybe even worse, as at least Gordon Brown used some of their borrowed money to create mickey mouse guardianista type jobs…
The austerity plans should have included MASSIVE tax rises from the top down, but they shyed away from that to keep their bumchums from the old schools happy…
Gorgie boy is committed to paying a vast range of things that Labour set up when they were in office. This means that he can’t just say, right, the country has 5 billion quid, and thats all we are spending this year.
Or would you like it if you went into hospital with a broken arm and the doc said, we would give you some 'prufen, plaster it up, pop it in a sling and send you on your way, but we cant afford it so you will have to suffer?
Or alternatively, some numpty could have the big one on the M1, but because the country has nothing in the bank, and has maxed out it’s Capital 1 card, they cant afford to replace the safety barriers. It doesn’t matter though does it, you have a big truck to protect you from the crash.
Or Al Quieda or however the hell you spell it, blows up Wembly on cup final day. The country is in uproar but the Government has to say, sorry, we have been clearing the national debt and cant afford the coppers and MI5 to secure the site.
You are right that a household has to do the things you say, except the infrastructure investment, that could be a bit much for mummy and daddy to cope with, but the country has to be run differently. Osbourne may be deferring large amounts of the national debt but if that pushes it ten years down the road, we can use some time to get our feet back under us, then be in a position to deal with it without a default when it comes back round.
What I’m saying is there is supposed to be enough tax revenue take to pay for all THAT inportant stuff you list, with the extra being borrowed to pay for the stuff that need not be had at all… Like overpaid civil servants, foreign aid, and of course Labour’s raft of new Benefits. Why on earth didn’t the Tories scrap the lot as soon as they came into office? This WAS expected of them I thought? Country folk I speak to tell me they even voted Tory because they thought that Osbourne would turn the clock back on Labour’s benefits regime - large!
It seems to me that Osbourne is just ■■■■-poor at basic money management.
PRIORITY spending first.
INVESTMENT spending second.
RETAINER spending last.
If Osbourne argues that "we have to borrow more, because there isn’t enough to even pay the PRIORITY spending otherwise - then how come there’s plenty for the bottom category, which includes everything from maintaining 10-4 shifts at courthouses to golden parachutes & gold plated pensions for other top civil servants? Of course, we already know there’s precious little in the “middle pot”… I don’t see compulsory purchased property owners being generously treated either!
We should have seen no hospitals or schools closing down, but entire government departments disappearing, or being cut to the bone.
Meanwhile across the country, new prisions are being built, the asylum department is closed outright, with “auto deportation” being levvied upon any illegals turning up with no cash or papers", and then fining the EU (take the money out of “our contributions”) for letting them get here in the first place.
The new prisons are primarily for the white collar criminals who’s population will likely explode under the “crush the suits” regime that I envisage.
Each person sacked who was claiming more than their salary in tax expenses actually saves the country that amount on top as well, as the suited & recently unemployed will have to join an agency and queue up for the work like everyone else.
The best way to turn this country into an industrial powerhouse again is to pay people who move bits of paper around a desk LESS to encourage employment that gets people to actually DO work rather than merely “Process” it for someone else.
Ultimately, too many service industries will end up costing the taxpayer more money when the string of paper-pusher bills lands on the exchequer’s desk.
The Internet should have cut the guts out of the government sector by now, especially at the high end.
Thereal-john:
And before anyone says how much money they generate for UK plc, don’t forget what breed of greedy couldn’t care less individuals caused this current world economic crisis.
They do generate a fair bit for UK plc. They have been greedy, but so have many truckers who have switched from one job to another doing the same [zb] for a pound an hour more.
I will ask you to recall what kicked off the problems, and that was a US bank going balls up, not a UK one. Dont blame it all on City of London investment banks, they were not alone.
You will find banks traders etc based in the uk had a hand in it, and whilst we can’t control or influence the US banking system, we can sort our own system out once and for all, other country’s manage this.
Obama is a total idiot and the fact is without the industrial muscle which America had during the 1960’s and the fact that the imports keep flowing just means that he’s delaying the inevitable with bs unsustainable jobs and using Chinese or printed money just like the HS2 project.As they say like most other US presidents before him since the 1960’s he’s no Kennedy or LBJ.
Harry Monk:
Once unemployment in the US falls below 6.5% the Federal Reserve will start to raise interest rates, my prediction is that this will be towards the end of 2013. When the Fed raises interest rates we will have little choice but to follow and that is when the waste body matter will interface with the rotating ventilation device.
Or to put it another way all those in those in Obama’s so called new job creation schemes will suddenly realise that they’re being paid in worthless dollars.
Harry Monk:
Once unemployment in the US falls below 6.5% the Federal Reserve will start to raise interest rates, my prediction is that this will be towards the end of 2013. When the Fed raises interest rates we will have little choice but to follow and that is when the waste body matter will interface with the rotating ventilation device.
Or to put it another way all those in those in Obama’s so called new job creation schemes will suddenly realise that they’re being paid in worthless dollars.
Whats thier debt now?? 14 trillion or thereabouts??!! Or to put that another way, 14 billion, million is it?
A trillion is a 1 followed by 12 zeros, like this: 1,000,000,000,000
A trillion square miles would cover the surface of 5,000 planet Earths.
Harry Monk:
Once unemployment in the US falls below 6.5% the Federal Reserve will start to raise interest rates, my prediction is that this will be towards the end of 2013. When the Fed raises interest rates we will have little choice but to follow and that is when the waste body matter will interface with the rotating ventilation device.
Or to put it another way all those in those in Obama’s so called new job creation schemes will suddenly realise that they’re being paid in worthless dollars.
Whats thier debt now?? 14 trillion or thereabouts??!! Or to put that another way, 14 billion, million is it?
A trillion is a 1 followed by 12 zeros, like this: 1,000,000,000,000
A trillion square miles would cover the surface of 5,000 planet Earths.
The question is why would a country,that has everything it needs in the form of manufacturing capacity,then close that capacity down and import the stuff instead.Thereby putting itself into debt to the place/s it bought it from especially in this case being that it seems to be South East Asia/China who they seem to owe most of the money to.LBJ must be turning in his grave.
or Indians? 
or vindaloo? 
