oscar;1069260 wrote: Do you really think that one of the pre-budget proposals included considering how many labels would have to be changed in shops ? :yh_rotfl:yh_rotfl:yh_rotfl
'Hey Alistair... we'll have to scrape the plans to reduce VAT... too many labels man.
Mock away daily mail reader woman, how much do you think it cost in wasted Point of sale material and manpower to do all that just before Christmas.
if they really wanted to help the economy it would have been better to cut the diesel fuel tax to zero-everything we eat arrives on the back of a diesel lorry-cut corporation tax and for small businesses, cut the tax on gas and electricity.
All they're doing is rearranging the deck chairs on the titanic in the hope no on will notice the big hole they have made in the economy.
Gordon Brown, please take note
I hear Mandelson is going to rename Jaguar/landrover British Leylandii in the hope it will experience rapid growth:yh_rotfl:yh_rotfl
Brirish politics are depressing just now. It's like watching an idiot contest with no clear winner
More money troubles
More money troubles
gmc;1069172 wrote: You have to laugh-let's help sales by lowering vat so all the business have to waste money reprinting all point of sale they have already had printed in time for Christmas and pay overtime to staff to get all the price labels and signs changed.
One thing about Gordon Brown no one can accuse him of joined up thinking.
I haven't found ONE single shop that has altered their point of sale labelling. The reduction in VAT has been adjusted at the till. Mind you I haven't been in any shops that sell more expensive items like electrical items, white goods etc.
Big drop in petrol; prices is very obvious at the moment, but for how long if production is cut and my tracker mortgage has gone down again. It's got to the stage where I'm starting to feel uncomfortable about it.
Measures taken were designed to make people spend but most people I know are trying to save 'just in case' .
Wondering what 2009 will bring.....it's scary. I have 3 kids with young children. 2 are self employed and I worry what the future holds. My youngest son has his own auto welding / repair business and he is still working 12 hours a day, but the eldest has a digital printing business and things look very 'dodgy'.
One thing about Gordon Brown no one can accuse him of joined up thinking.
I haven't found ONE single shop that has altered their point of sale labelling. The reduction in VAT has been adjusted at the till. Mind you I haven't been in any shops that sell more expensive items like electrical items, white goods etc.
Big drop in petrol; prices is very obvious at the moment, but for how long if production is cut and my tracker mortgage has gone down again. It's got to the stage where I'm starting to feel uncomfortable about it.
Measures taken were designed to make people spend but most people I know are trying to save 'just in case' .
Wondering what 2009 will bring.....it's scary. I have 3 kids with young children. 2 are self employed and I worry what the future holds. My youngest son has his own auto welding / repair business and he is still working 12 hours a day, but the eldest has a digital printing business and things look very 'dodgy'.
A smile is a window on your face to show your heart is home
More money troubles
Bez;1090121 wrote: I haven't found ONE single shop that has altered their point of sale labelling. The reduction in VAT has been adjusted at the till. Mind you I haven't been in any shops that sell more expensive items like electrical items, white goods etc.
Big drop in petrol; prices is very obvious at the moment, but for how long if production is cut and my tracker mortgage has gone down again. It's got to the stage where I'm starting to feel uncomfortable about it.
Measures taken were designed to make people spend but most people I know are trying to save 'just in case' .
Wondering what 2009 will bring.....it's scary. I have 3 kids with young children. 2 are self employed and I worry what the future holds. My youngest son has his own auto welding / repair business and he is still working 12 hours a day, but the eldest has a digital printing business and things look very 'dodgy'.
Your youngest son will be OK as people hang on to cars for longer they start moving away from main dealer servicing costs-at least they do here. Companies cut back on things that will have an immediate saving-like advertising and leaflets.
I've got my own business as well it is a bit worrying. On the other hand I started 20 years ago at the end of the eighties when unemployment here was in double figures and so were interest rates.
Big drop in petrol; prices is very obvious at the moment, but for how long if production is cut and my tracker mortgage has gone down again. It's got to the stage where I'm starting to feel uncomfortable about it.
Measures taken were designed to make people spend but most people I know are trying to save 'just in case' .
Wondering what 2009 will bring.....it's scary. I have 3 kids with young children. 2 are self employed and I worry what the future holds. My youngest son has his own auto welding / repair business and he is still working 12 hours a day, but the eldest has a digital printing business and things look very 'dodgy'.
Your youngest son will be OK as people hang on to cars for longer they start moving away from main dealer servicing costs-at least they do here. Companies cut back on things that will have an immediate saving-like advertising and leaflets.
I've got my own business as well it is a bit worrying. On the other hand I started 20 years ago at the end of the eighties when unemployment here was in double figures and so were interest rates.
More money troubles
I think personally, the only way to deal with what's happening at present is to just accept (as individuals and countries) that, in the short-term, we really are in a mess. Certainly living standards are going to drop, unemployment is going to skyrocket, and an awful lot of businesses and retailers are going to go bust in the next 6 months. People will have to take that on board as inevitable, as otherwise we will get political instability and thats an even worse can of worms potentially.
It is scary indeed though for ordinary people like us, mostly because its so deep, quick, and profound; in that the whole mode of capitalism (as practiced in recent times) has collapsed in a way no one would have expected even 24 months ago. It leaves us all a lot more exposed and vunerable to be swept away in these rapid changes than we probably ever expected to be.
Given the situation, there isn't anything that can be done to stop there being a very, very major economic bust in 2009 for everyone in all the Western countries; but for some more than others. For all the people in the British Isles things are going to be particularly difficult; and it all revolves around one fact.
In the English-speaking world we have generated a massive asset bubble called land and housing, probably 300-400 percent overvalued at this stage. Its been based on money we didn't really have, and now can't afford.
There won't be any upturn or real prosperity again until property prices, mortage lending, commercial rents, and land values return to a realistic level based on the productive capacity of the country to produce goods and services, not based on the ability of individuals and institutions to borrow larger and larger amounts of foreign savings, year-on-year, indefinitely.
That (of course) is going to involve massive losses now, a sharp drop in the standard of living, a lot of hardship, large-scale unemployment, social dislocation, and the need for an entire restructuring of the basic economy (as well as just the mortgage and housing market) back to something more sustainable and modest based on reality.
Given that much of Britain (and Ireland's) economy is now based on a manic housing market bubble and the oceans of easy money that it has generated, (either directly or indirectly) this is going to a savage readjustment. People are going to find it bewildering and frightening to watch things around them go bust and institutions they have relied on all their life to fail. But it will happen.
It will take time and pain, but the circumstances will dictate that doing nothing is not an option now. A lot is going to happen in 2009, and decisions are going to be made that will be far reaching into the future. Its going to be interesting, scary, but necessary what we are about to go through.
People think this just another "recession" but I think that the reality is that this is actually a profound economic disaster, that is so severe it has made plain that the global economic system (based on market orthodoxies developed in the 1970s) simply does not work and has resulted massive internal economic imbalances, it will have to change.
Because (in my opinion) at the root of it all is the way we are living; it has become totally unsustainable and delusional and we are suffering because of it.
Our lifestyles are not based on reality or actual resources any more, modern economics is a self-referencing parlour game; its based on notional paper wealth, inflated assets and esoteric economic theories that can now be seen to bear little relation to reality. The consequences of the overuse of resources are not priced into our costs, growth is seen as essential, but how sustained growth is maintained is not discussed.
So the global economy has to grow every year just to avoid collapse, while the number of people increases and we use more and more resources; but the Earth of course is a finite system, growth within it has to take some recognition of that fact that we live in a large and abundant material world, but that there are limits to how much material is in it for us to use and exploit successfully and sustainability, if we want to survive in the long-term we have to recognize those limits and manage them far more effectively than in the past.
The reaction to this basic fact of existence has been to either ignore it, or deny the reality of it and plow on with growth for its own sake, this despite the fact that its now obvious that there are profound and rapid changes occurring in our ecosystem, and we are responsible for it. That level of denial is much less of a viable option anymore, and its an opportunity now to make our nations' long-term economic and political futures more sustainable along with that of the planet we live on.
I have been saying for a long time that we were in for some form of rude awakening at some point because of the basic unsustainability of our lifestyles and economic system. Despite this, I don't feel very good about what's happening, as "I told you so" is a cheap thrill that quickly fades. I didn't know what way that would happen, or that it would be so quick and dramatic, and take the form of a general collapse in Global Capitalism; but thats how its turned out. So be it.
I actually think that this wake up call, may be one day regarded as the best thing that happened for us in the long term, as it may (hopefully) make us steer away from the crazy course we have followed in recent times, and the arrogance and ignorance that drove it.
It is scary indeed though for ordinary people like us, mostly because its so deep, quick, and profound; in that the whole mode of capitalism (as practiced in recent times) has collapsed in a way no one would have expected even 24 months ago. It leaves us all a lot more exposed and vunerable to be swept away in these rapid changes than we probably ever expected to be.
Given the situation, there isn't anything that can be done to stop there being a very, very major economic bust in 2009 for everyone in all the Western countries; but for some more than others. For all the people in the British Isles things are going to be particularly difficult; and it all revolves around one fact.
In the English-speaking world we have generated a massive asset bubble called land and housing, probably 300-400 percent overvalued at this stage. Its been based on money we didn't really have, and now can't afford.
There won't be any upturn or real prosperity again until property prices, mortage lending, commercial rents, and land values return to a realistic level based on the productive capacity of the country to produce goods and services, not based on the ability of individuals and institutions to borrow larger and larger amounts of foreign savings, year-on-year, indefinitely.
That (of course) is going to involve massive losses now, a sharp drop in the standard of living, a lot of hardship, large-scale unemployment, social dislocation, and the need for an entire restructuring of the basic economy (as well as just the mortgage and housing market) back to something more sustainable and modest based on reality.
Given that much of Britain (and Ireland's) economy is now based on a manic housing market bubble and the oceans of easy money that it has generated, (either directly or indirectly) this is going to a savage readjustment. People are going to find it bewildering and frightening to watch things around them go bust and institutions they have relied on all their life to fail. But it will happen.
It will take time and pain, but the circumstances will dictate that doing nothing is not an option now. A lot is going to happen in 2009, and decisions are going to be made that will be far reaching into the future. Its going to be interesting, scary, but necessary what we are about to go through.
People think this just another "recession" but I think that the reality is that this is actually a profound economic disaster, that is so severe it has made plain that the global economic system (based on market orthodoxies developed in the 1970s) simply does not work and has resulted massive internal economic imbalances, it will have to change.
Because (in my opinion) at the root of it all is the way we are living; it has become totally unsustainable and delusional and we are suffering because of it.
Our lifestyles are not based on reality or actual resources any more, modern economics is a self-referencing parlour game; its based on notional paper wealth, inflated assets and esoteric economic theories that can now be seen to bear little relation to reality. The consequences of the overuse of resources are not priced into our costs, growth is seen as essential, but how sustained growth is maintained is not discussed.
So the global economy has to grow every year just to avoid collapse, while the number of people increases and we use more and more resources; but the Earth of course is a finite system, growth within it has to take some recognition of that fact that we live in a large and abundant material world, but that there are limits to how much material is in it for us to use and exploit successfully and sustainability, if we want to survive in the long-term we have to recognize those limits and manage them far more effectively than in the past.
The reaction to this basic fact of existence has been to either ignore it, or deny the reality of it and plow on with growth for its own sake, this despite the fact that its now obvious that there are profound and rapid changes occurring in our ecosystem, and we are responsible for it. That level of denial is much less of a viable option anymore, and its an opportunity now to make our nations' long-term economic and political futures more sustainable along with that of the planet we live on.
I have been saying for a long time that we were in for some form of rude awakening at some point because of the basic unsustainability of our lifestyles and economic system. Despite this, I don't feel very good about what's happening, as "I told you so" is a cheap thrill that quickly fades. I didn't know what way that would happen, or that it would be so quick and dramatic, and take the form of a general collapse in Global Capitalism; but thats how its turned out. So be it.
I actually think that this wake up call, may be one day regarded as the best thing that happened for us in the long term, as it may (hopefully) make us steer away from the crazy course we have followed in recent times, and the arrogance and ignorance that drove it.
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
More money troubles
I agree, it is a real mess driven by pure greed.
Some people started to believe that it really does come easy, it doesn't, it never has.
If people are getting too rich to fast, then something is very wrong.
Some people started to believe that it really does come easy, it doesn't, it never has.
If people are getting too rich to fast, then something is very wrong.
More money troubles
Galbally;1090592 wrote:
I actually think that this wake up call, may be one day regarded as the best thing that happened for us in the long term, as it may (hopefully) make us steer away from the crazy course we have followed in recent times, and the arrogance and ignorance that drove it.
I have been thinking this myself........fingers crossed for the future.
I actually think that this wake up call, may be one day regarded as the best thing that happened for us in the long term, as it may (hopefully) make us steer away from the crazy course we have followed in recent times, and the arrogance and ignorance that drove it.
I have been thinking this myself........fingers crossed for the future.
A smile is a window on your face to show your heart is home
-
Oscar Namechange
- Posts: 31840
- Joined: Wed Jul 30, 2008 9:26 am
More money troubles
Once again, galbally brings the spirit of doom and gloom at Christmas.
You should be grateful that you have a Labour government. Capitalism and greed have certainly brought about the West's financial problems and critics are all very quick to jump on Gordon Brown for borrowing from the Saudi's to get us out of the mess that greed and the money men created. What people don't look at when they critisize Gordon brown, is what the alternative would be.
For one, if Brown had not produced massive fiscal injection into the economy, the facts are, there would be more jobs and homes lost. he has just announced anothe multi million £ investment into jobs and infrastructure.
God forbid, the Tory's ever get in. All they have to offer, is cutbacks in the infrastructure and education, health and transport would be the first three to suffer. If you think jobs and homes are lost now, then you don't have a clue of how bad it could really be should there be no fiscal stimulation and the country was left to recover based on cut-backs.
The people i see losing their homes and having their cars re-possessed are the people who have lived entirely beyond their means with the 'buy now pay later' policy. People who live within their means without massive credit debts are not suffering. yes, jobs are being lost but this is not at the fault of the government.
If you take one example, Woolworth's. It's not the governments fault that they have gone under. Woolworth's gambled with taking on other major high street stores, diversifying and borrowing to the tune of £90 million without the sales to back it. The people including my sister and two neice's who have just lost their jobs at woolworth need to look at the management and blame them, not the government.
You should be grateful that you have a Labour government. Capitalism and greed have certainly brought about the West's financial problems and critics are all very quick to jump on Gordon Brown for borrowing from the Saudi's to get us out of the mess that greed and the money men created. What people don't look at when they critisize Gordon brown, is what the alternative would be.
For one, if Brown had not produced massive fiscal injection into the economy, the facts are, there would be more jobs and homes lost. he has just announced anothe multi million £ investment into jobs and infrastructure.
God forbid, the Tory's ever get in. All they have to offer, is cutbacks in the infrastructure and education, health and transport would be the first three to suffer. If you think jobs and homes are lost now, then you don't have a clue of how bad it could really be should there be no fiscal stimulation and the country was left to recover based on cut-backs.
The people i see losing their homes and having their cars re-possessed are the people who have lived entirely beyond their means with the 'buy now pay later' policy. People who live within their means without massive credit debts are not suffering. yes, jobs are being lost but this is not at the fault of the government.
If you take one example, Woolworth's. It's not the governments fault that they have gone under. Woolworth's gambled with taking on other major high street stores, diversifying and borrowing to the tune of £90 million without the sales to back it. The people including my sister and two neice's who have just lost their jobs at woolworth need to look at the management and blame them, not the government.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
More money troubles
oscar;1091375 wrote: Once again, galbally brings the spirit of doom and gloom at Christmas.
You should be grateful that you have a Labour government. Capitalism and greed have certainly brought about the West's financial problems and critics are all very quick to jump on Gordon Brown for borrowing from the Saudi's to get us out of the mess that greed and the money men created. What people don't look at when they critisize Gordon brown, is what the alternative would be.
For one, if Brown had not produced massive fiscal injection into the economy, the facts are, there would be more jobs and homes lost. he has just announced anothe multi million £ investment into jobs and infrastructure.
God forbid, the Tory's ever get in. All they have to offer, is cutbacks in the infrastructure and education, health and transport would be the first three to suffer. If you think jobs and homes are lost now, then you don't have a clue of how bad it could really be should there be no fiscal stimulation and the country was left to recover based on cut-backs.
The people i see losing their homes and having their cars re-possessed are the people who have lived entirely beyond their means with the 'buy now pay later' policy. People who live within their means without massive credit debts are not suffering. yes, jobs are being lost but this is not at the fault of the government.
If you take one example, Woolworth's. It's not the governments fault that they have gone under. Woolworth's gambled with taking on other major high street stores, diversifying and borrowing to the tune of £90 million without the sales to back it. The people including my sister and two neice's who have just lost their jobs at woolworth need to look at the management and blame them, not the government.
No Daily mail reader woman Gordon Brown's failures as chancellor have a lot to do with the pickle britain now finds it in. If he had made sure the banks were regulated properly and not allowed silly things like 125% LTV borrowing a lot of the pain could have been avoided. He still isn't holding the banks to account is he.
The people i see losing their homes and having their cars re-possessed are the people who have lived entirely beyond their means with the 'buy now pay later' policy. People who live within their means without massive credit debts are not suffering. yes, jobs are being lost but this is not at the fault of the government.
Bollocks, piffle, balderdash, rubbish, havers, nonsense, cobblers-------
There are plenty of responsible careful people losing their jobs because of his incompetence. Gordie boy is going to have to try and convince his constituents that all those about to lose their jobs in the banking sector in scotland did not do so because of his actions. I hope the bastard fails and loses his seat along with that refugee from the muppet show Alastair darling. Mind you they have made sure their pensions are all right.
maybe we need performance related pay for politicians. If they leave the country in a worse state than when they took office they get nothing.
Britain's job 'bloodbath' - Home News, UK - The Independent
Bank of England 'failed to spot crisis' - Business News, Business - The Independent
The Bank of England saw the financial crisis coming, but didn't expect it to be so severe, its deputy head said in an interview aired today.
"We did spot some crazy borrowing going on ... and we said, actually, for a couple of years before the crash that a correction was coming," John Gieve told the BBC .
But, he added: "We didn't think it was going to be anything like as severe as it turned out to be."
Gieve said the bank didn't have the ability to stop the crisis from happening, and called for new tools for the bank to control the financial sector.
Maybe they didn't but Gordon Brown certainly did.
You should be grateful that you have a Labour government. Capitalism and greed have certainly brought about the West's financial problems and critics are all very quick to jump on Gordon Brown for borrowing from the Saudi's to get us out of the mess that greed and the money men created. What people don't look at when they critisize Gordon brown, is what the alternative would be.
For one, if Brown had not produced massive fiscal injection into the economy, the facts are, there would be more jobs and homes lost. he has just announced anothe multi million £ investment into jobs and infrastructure.
God forbid, the Tory's ever get in. All they have to offer, is cutbacks in the infrastructure and education, health and transport would be the first three to suffer. If you think jobs and homes are lost now, then you don't have a clue of how bad it could really be should there be no fiscal stimulation and the country was left to recover based on cut-backs.
The people i see losing their homes and having their cars re-possessed are the people who have lived entirely beyond their means with the 'buy now pay later' policy. People who live within their means without massive credit debts are not suffering. yes, jobs are being lost but this is not at the fault of the government.
If you take one example, Woolworth's. It's not the governments fault that they have gone under. Woolworth's gambled with taking on other major high street stores, diversifying and borrowing to the tune of £90 million without the sales to back it. The people including my sister and two neice's who have just lost their jobs at woolworth need to look at the management and blame them, not the government.
No Daily mail reader woman Gordon Brown's failures as chancellor have a lot to do with the pickle britain now finds it in. If he had made sure the banks were regulated properly and not allowed silly things like 125% LTV borrowing a lot of the pain could have been avoided. He still isn't holding the banks to account is he.
The people i see losing their homes and having their cars re-possessed are the people who have lived entirely beyond their means with the 'buy now pay later' policy. People who live within their means without massive credit debts are not suffering. yes, jobs are being lost but this is not at the fault of the government.
Bollocks, piffle, balderdash, rubbish, havers, nonsense, cobblers-------
There are plenty of responsible careful people losing their jobs because of his incompetence. Gordie boy is going to have to try and convince his constituents that all those about to lose their jobs in the banking sector in scotland did not do so because of his actions. I hope the bastard fails and loses his seat along with that refugee from the muppet show Alastair darling. Mind you they have made sure their pensions are all right.
maybe we need performance related pay for politicians. If they leave the country in a worse state than when they took office they get nothing.
Britain's job 'bloodbath' - Home News, UK - The Independent
Bank of England 'failed to spot crisis' - Business News, Business - The Independent
The Bank of England saw the financial crisis coming, but didn't expect it to be so severe, its deputy head said in an interview aired today.
"We did spot some crazy borrowing going on ... and we said, actually, for a couple of years before the crash that a correction was coming," John Gieve told the BBC .
But, he added: "We didn't think it was going to be anything like as severe as it turned out to be."
Gieve said the bank didn't have the ability to stop the crisis from happening, and called for new tools for the bank to control the financial sector.
Maybe they didn't but Gordon Brown certainly did.
More money troubles
I would like to know exactly what Gordon Brown is stimulating. It's certainly not this country's finances. More like the Government's own coffers. Mind you, I guess they'll need it to pay for the increasing numbers of unemployed people.
-
Oscar Namechange
- Posts: 31840
- Joined: Wed Jul 30, 2008 9:26 am
More money troubles
gmc;1091395 wrote: No Daily mail reader woman Gordon Brown's failures as chancellor have a lot to do with the pickle britain now finds it in. If he had made sure the banks were regulated properly and not allowed silly things like 125% LTV borrowing a lot of the pain could have been avoided. He still isn't holding the banks to account is he.
Bollocks, piffle, balderdash, rubbish, havers, nonsense, cobblers-------
There are plenty of responsible careful people losing their jobs because of his incompetence. Gordie boy is going to have to try and convince his constituents that all those about to lose their jobs in the banking sector in scotland did not do so because of his actions. I hope the bastard fails and loses his seat along with that refugee from the muppet show Alastair darling. Mind you they have made sure their pensions are all right.
maybe we need performance related pay for politicians. If they leave the country in a worse state than when they took office they get nothing.
Britain's job 'bloodbath' - Home News, UK - The Independent
Bank of England 'failed to spot crisis' - Business News, Business - The Independent
Maybe they didn't but Gordon Brown certainly did.
Now look here you salmon poaching, bearded caber tossing party of one.
First of all, please refrain from calling 'his gorgeousness' Gordy Boy. He has never been a Gordy and people may confuse that with 'Geordie Folk' who are of an entirely different specie's.
Also, we all know that every word the Daily mail prints is by the finest calibre of journalists and is all true. The Daily mail called my father a hero twice and that's good enough for me.
I have to agree that there are responsible people also losing their jobs as is my sister and neice's in Woolworth's. They can't blame the government only Woolworth's who borrowed recklessly.
Gordon Brown won the Glenrothes by-election when his constituants already knew the banking sector was in serious trouble in Scotland.
I don't believe for a minute that the banking cheifs got it wrong, they knew exactly what was going on and continued to loan to idiots living beyond their means. Greedy banks lend to greedy people, full stop.
Bollocks, piffle, balderdash, rubbish, havers, nonsense, cobblers-------
There are plenty of responsible careful people losing their jobs because of his incompetence. Gordie boy is going to have to try and convince his constituents that all those about to lose their jobs in the banking sector in scotland did not do so because of his actions. I hope the bastard fails and loses his seat along with that refugee from the muppet show Alastair darling. Mind you they have made sure their pensions are all right.
maybe we need performance related pay for politicians. If they leave the country in a worse state than when they took office they get nothing.
Britain's job 'bloodbath' - Home News, UK - The Independent
Bank of England 'failed to spot crisis' - Business News, Business - The Independent
Maybe they didn't but Gordon Brown certainly did.
Now look here you salmon poaching, bearded caber tossing party of one.
First of all, please refrain from calling 'his gorgeousness' Gordy Boy. He has never been a Gordy and people may confuse that with 'Geordie Folk' who are of an entirely different specie's.
Also, we all know that every word the Daily mail prints is by the finest calibre of journalists and is all true. The Daily mail called my father a hero twice and that's good enough for me.
I have to agree that there are responsible people also losing their jobs as is my sister and neice's in Woolworth's. They can't blame the government only Woolworth's who borrowed recklessly.
Gordon Brown won the Glenrothes by-election when his constituants already knew the banking sector was in serious trouble in Scotland.
I don't believe for a minute that the banking cheifs got it wrong, they knew exactly what was going on and continued to loan to idiots living beyond their means. Greedy banks lend to greedy people, full stop.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
-
Oscar Namechange
- Posts: 31840
- Joined: Wed Jul 30, 2008 9:26 am
More money troubles
Scrat;1091510 wrote: It's called short term profit. They made a hell of a lot of money and stashed some of it away undoubtedly. Now it's time for socialism to bail out everyone else.
Heads should be rolling.
Agreed. At least here, our PM sacked the bank chiefs and took control of the banks. He slashed interest rates but i have to agree with gmc that the banks are being very slow at passing on the cuts to the borrowers. The PM has threatened the banks with legal action if nessessary to force them but it is slow in coming. Given that our PM is the man who bankrupted the country of Iceland over-night when their banks shafted British investors, i can see him following his threats through, but he has to act quickly.
The talk here from the PM is all about saving small business's but i don't have alot of sympathy for most of them. They have borrowed to the max the same as every-one else and now expect the government to bail them out.
We have it too easy here. All they have to do, is pop down to the local court, get themselves declared bankrupt and if they have no assets to sieze, the government and the tax-payer picks up the bill. Without checking, i believe that it is within 8 years that they can start again with a clean slate.
I just happen to believe that if our opposition were in power and with their cut-back policy, we'd be in biggger trouble than trying to stimulate the economy now.
Heads should be rolling.
Agreed. At least here, our PM sacked the bank chiefs and took control of the banks. He slashed interest rates but i have to agree with gmc that the banks are being very slow at passing on the cuts to the borrowers. The PM has threatened the banks with legal action if nessessary to force them but it is slow in coming. Given that our PM is the man who bankrupted the country of Iceland over-night when their banks shafted British investors, i can see him following his threats through, but he has to act quickly.
The talk here from the PM is all about saving small business's but i don't have alot of sympathy for most of them. They have borrowed to the max the same as every-one else and now expect the government to bail them out.
We have it too easy here. All they have to do, is pop down to the local court, get themselves declared bankrupt and if they have no assets to sieze, the government and the tax-payer picks up the bill. Without checking, i believe that it is within 8 years that they can start again with a clean slate.
I just happen to believe that if our opposition were in power and with their cut-back policy, we'd be in biggger trouble than trying to stimulate the economy now.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon