Triple A? But for how much longer?

[enyam]

Bring back Gordon there was never a mention of downgrades under his stewardship,spend, spend, spend, its what makes the world go around.

 

[joe-90]

We are in deep sh*t.

http://www.dailymail.co.uk/news/art...ough-spending-cuts-population-gets-older.html

 

[enyam]

2060, I'll shall be long gone by then,live it up Joe it's not a dress rehearsal.

 

[joe-90]

As soon as the Euro goes down - it'll drag all of our banks with it. No need to wait until 2060.

 

[AronSearle]

Blas. The stuff we sell to ourselves doesn't help. It's the stuff we export that matters - and all those countries are going bust too.

80% of our trade is internal.

Of the 20% left, 40% is to the EU*** , and 60% with mostly commonwealth countries.

Trade with commonwealth countries is set to grow, many commonwealth countries are not having a credit crunch like we are.

What we need is a proper growth strategy, lower energy prices, cut red tape, cut taxes, concentrate on trade links with non EU countries***.





***so total trade with the EU is 8%, that's what we get for hundreds of billions in EU "tax" Also remember we could not negotiate a trade agreement with America, as that is now an EU competence, further EU laws are cutting out our own trade, take the battery hen egg ban that eastern blocs are exempt from as ONE recent example.

Lastly due to international treaties, if we pulled out of the EU they could not stop us trading with us (Remember China/Brazil etc is not in the EU), furthermore we run a trade deficit with the EU, so we can threaten them more than they can threaten us.

 

[enyam]

As soon as the Euro goes down - it'll drag all of our banks with it. No need to wait until 2060.

But for that reason is it going to happen,I suspect that they will be and are moving heaven and earth to prevent it,how long has the Greek debacle been going on,with yet more money being promised to them.

 

[joe-90]

They are trying to stop the domino effect - but it won't work.

 

[joe-90]

Blas. The stuff we sell to ourselves doesn't help. It's the stuff we export that matters - and all those countries are going bust too.

80% of our trade is internal.

Of the 20% left, 40% is to the EU*** , and 60% with mostly commonwealth countries.

So how does internal sales help the economy? Where does the money for these purchases come from?

 

[AronSearle]

So how does internal sales help the economy? Where does the money for these purchases come from?

EVIIIIIL banks.

Guy goes to bank to get a loan to start a shop/business/whatever, bank loans him the money (some of it is basically "magicked" out of thin air), shop is successfully = more money in the economy.

Repeat that for 60 million people, , sometimes the business fail and the money is lost, but overall the number of successful business outweighs the loss, and so the money that is "magicked" out of nothing stays as "real" money.

When the number of business fail is to great (or the number of mortgages that fail aka sub prime crisis is to great), then you get **** hitting the fan as people start trying to collect on money that never existed.

it's a very crass summery of how wealth is generated or a credit crises happens.

 

[peaps]

we need a big crash, rich need to feel what it's like to be poor.

 

[AronSearle]

we need a big crash, rich need to feel what it's like to be poor.

Yea.......

erm....

You do understand that in a crash it's the poor that suffer the most, the rich just get less rich.

 

[joe-90]

So how does internal sales help the economy? Where does the money for these purchases come from?

EVIIIIIL banks.

Guy goes to bank to get a loan to start a shop/business/whatever, bank loans him the money (some of it is basically "magicked" out of thin air), shop is successfully = more money in the economy.

Repeat that for 60 million people, , sometimes the business fail and the money is lost, but overall the number of successful business outweighs the loss, and so the money that is "magicked" out of nothing stays as "real" money.

When the number of business fail is to great (or the number of mortgages that fail aka sub prime crisis is to great), then you get s**t hitting the fan as people start trying to collect on money that never existed.

it's a very crass summery of how wealth is generated or a credit crises happens.

Somebody once posted a really good cartoon sort of you tube vid that explained how the money system works.

 

[peaps]

we need a big crash, rich need to feel what it's like to be poor.

Yea.......

erm....

You do understand that in a crash it's the poor that suffer the most, the rich just get less rich.

The poor are better prepaired to cope.

 

[AronSearle]

we need a big crash, rich need to feel what it's like to be poor.

Yea.......

erm....

You do understand that in a crash it's the poor that suffer the most, the rich just get less rich.

The poor are better prepared to cope.

Wishing greater poverty on the poor.

Lovely.

 

[peaps]

we need a big crash, rich need to feel what it's like to be poor.

Yea.......

erm....

You do understand that in a crash it's the poor that suffer the most, the rich just get less rich.

The poor are better prepared to cope.

Wishing greater poverty on the poor.

Lovely.

Nah it won't work out like that, end of capitalism is whats needed.