Nick Clegg has said that the Coalition will remain in place till 2015. Perhaps he should have said 'a Coalition'. You have to wonder whether the Lib Dems are planning to cross the floor...
Let's face it - Britain's relationship with the EU will only go in one direction whilst the Tories remain in power, and it's hard to forsee the austerity measures being relaxed during this parliament. And if they switch sides, they can keep their promise to students and regain some votes (OK, they'll probably bankrupt the country in the process, but that's a small price to pay!).
Jeff
UK Economy
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pdupre1961
- Posts: 410
- Joined: Fri Feb 18, 2011 8:01 pm
10 years of Labour and England is already bankrupt!!!
Yup - And if they got back in, it wouldn't take them long to bring down Britain!
And not only that, if Britain ended up defaulting, it could trigger a global depression! Lehmann would look like a walk in the park!
It doesn't bear thinking about...
Jeff
And not only that, if Britain ended up defaulting, it could trigger a global depression! Lehmann would look like a walk in the park!
It doesn't bear thinking about...
Jeff
pdupre1961 wrote:10 years of Labour and England is already bankrupt!!!
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
+4.8 Trillionpdupre1961 wrote:10 years of Labour and England is already bankrupt!!!
(that was our real level of including unfunded liabilities at August 2010)
http://www.zerohedge.com/article/%C2%A3 ... cial-numbe
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pdupre1961
- Posts: 410
- Joined: Fri Feb 18, 2011 8:01 pm
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
yeah it was good that; IIRC it's the one where he explains the difference between debt and deficit using a running bath and a cup. joe public still hasn't got a clue and dangerous idiots like Ed Balls likes it that way (he once tried to compare the deficit to a mortgage!).
French banker says UK should be downgraded first - http://www.bbc.co.uk/news/world-europe-16207748
"Great Britain is in a very difficult economic situation, a deficit close to the level of Greece, debt equivalent to our own, much higher inflation prospects and growth forecasts well under the eurozone average".
I have to admit that he makes a good case!
Jeff
"Great Britain is in a very difficult economic situation, a deficit close to the level of Greece, debt equivalent to our own, much higher inflation prospects and growth forecasts well under the eurozone average".
I have to admit that he makes a good case!
Jeff
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
French finance minister criticises 'worrying' UK economy
http://www.bbc.co.uk/news/uk-politics-16222988
to be honest I'm tempted to agree with the bloke.
without this monetisation the UK would have have lost it's AAA rating some time ago and would have had to face a sharp recession (like Ireland).
this is not a defence of printing money, all it does is create inflation, reduce our purchasing power and delay the ultimate correction (which will be even bigger and harsher when it comes).
there is no magic bullet; the choice is simply pain now or more pain later. you pays your money...
http://www.bbc.co.uk/news/uk-politics-16222988
to be honest I'm tempted to agree with the bloke.
the only reason that bond yields continue to fall in the UK is because the BoE is buying them (with printed money), nobody else wants them.Downing Street downplayed Mr Noyer's remarks, saying: "We have put in place a credible plan for dealing with our deficit and the credibility of that plan can be seen in what has happened to bond yields in this country."
without this monetisation the UK would have have lost it's AAA rating some time ago and would have had to face a sharp recession (like Ireland).
this is not a defence of printing money, all it does is create inflation, reduce our purchasing power and delay the ultimate correction (which will be even bigger and harsher when it comes).
there is no magic bullet; the choice is simply pain now or more pain later. you pays your money...
You have to wonder what his motivations are though. There's an unspoken convention in diplomacy that friendly powers don't comment negatively on each others' domestic matters. It's almost like the French are deliberately playing into eurosceptics' hands...
Jeff
Jeff
superfrank wrote: to be honest I'm tempted to agree with the bloke.
I think George Osborne has pulled off an illusion that would put Paul Daniels to shame!
But unless he puts his foot to the floor re. austerity measures, the UK economy is a ticking bomb IMHO...
Jeff
But unless he puts his foot to the floor re. austerity measures, the UK economy is a ticking bomb IMHO...
Jeff
superfrank wrote: without this monetisation the UK would have have lost it's AAA rating some time ago and would have had to face a sharp recession (like Ireland).
FTSE ends year down 5.5pc but eurozone fares worse - http://www.telegraph.co.uk/finance/mark ... worse.html
I was just looking through the job vacancies on the Job Centre Plus website, and came across this one, which just about sums up the opportunities that are out there right now!
RONALD MACDONALD CHARACTER
Vacancy from Jobcentre Plus
Job No:
WOR/26565
SOC Code:
3433
Wage
MEETS NAT MIN WAGE, £14 PER BOOKING
Hours
SATURDAY-SUNDAY
Location
WORSLEY, MANCHESTER, LANCS M28
Duration
Permanent
Date posted
14 December 2011
Pension details
No details held
Description
This is a self employed vacancy. You will dress as a fast food character, attend childrens parties and fast food restaurants. You must be good with children and you will be handing out flyers. Between £100 to £200 per weekend. Immediate start available. The company has given an assurance that this vacancy enables workers to achieve a wage equivalent to the. National Minimum Wage rate.
RONALD MACDONALD CHARACTER
Vacancy from Jobcentre Plus
Job No:
WOR/26565
SOC Code:
3433
Wage
MEETS NAT MIN WAGE, £14 PER BOOKING
Hours
SATURDAY-SUNDAY
Location
WORSLEY, MANCHESTER, LANCS M28
Duration
Permanent
Date posted
14 December 2011
Pension details
No details held
Description
This is a self employed vacancy. You will dress as a fast food character, attend childrens parties and fast food restaurants. You must be good with children and you will be handing out flyers. Between £100 to £200 per weekend. Immediate start available. The company has given an assurance that this vacancy enables workers to achieve a wage equivalent to the. National Minimum Wage rate.