Britain going bust.

[joe-90]

Quote about national debt:

"It is the third-highest in the European Union after that of Ireland and Greece - higher than either Spain or Portugal, next in line at just above 9pc each.

Britain's cumulative national debt, however, rose by almost 20pc year-on-year to more than €1.2 trillion - and now accounts for 82.5pc of GDP.


http://www.telegraph.co.uk/finance/economics/8532373/Chinese-rating-agency-downgrades-UK-debt.html


It's a mathematical certainty the UK will one day default yet we still give it away in overseas aid. It's crazy man.

 

[joinerjohn]

Don't worry, when the UK economy does go bust, Europe will no doubt help us out (yeah right) Same way, when Greece and Ireland asked Europe for help, the UK did help out with monetary aid.

Looking at it though, I reckon it's a bloody good job we kept our own monetary system and didn't join the Eurozone.

 

[EFCLee1]

I thought the government prints money to assist in the economy's growth and inflation all that stuff

Id'e say just print off a few billion to get us out of the recession

 

[cumbriahandyman]

If and when we do go down the pan, guess who won't feel the pinch...

MPs
Bankers
Solicitors

 

[Inky Pete]

I thought the government prints money to assist in the economy's growth and inflation all that stuff

Id'e say just print off a few billion to get us out of the recession

If they just printed money and handed it out then everyone would have loads of money, but prices would soon shoot up as retaillers and then their suppliers cashed in. So we'd then have to print and hand out even more money. Which would make prices go up even more.

In the short term, the only people to benefit would be the raw materials producers and manufacturers - China, basically - who would end up with all our money while we're left with PERMANENT rising prices and printing more and more money to hand out.

Meanwhile, the exchange rate of the pound to other currencies would drop through the floor - coz there would be so many pounds floating about that people in other countries would be able to buy as many pounds as they wanted for buttons. That'll make your holiday abroad STUPIDLY expensive, and eventually price everything that's made abroad out of just about everyone in the UK's reach.

The price of fuel would go through the roof (because it's priced in dollars, and suddenly a $75 barrel of oil will be costing us over £200 instead of about £100). That in turn would make whatever stuff we do mine, make or grow in this country STUPIDLY expensive, and price all of that lot out of reach.

In times of recession, printing money is NOT the answer - just look at the mess inflation has made of Zimbabwe. What is actually required is for there to be LESS money about for a while, which is what the government is currently doing by using the tax revenue it gets to pay off its debts rather than hand it out in pay to ever increasing numbers of civil servants or splashing out on expensive stuff we don't need.

 

[Whitespirit66]

Id'e say just print off a few billion to get us out of the recession

Been taking advice from Bob Mugabe?

 

[joe-90]

What is actually required is for there to be LESS money about for a while, which is what the government is currently doing by using the tax revenue it gets to pay off its debts rather than hand it out in pay to ever increasing numbers of civil servants or splashing out on expensive stuff we don't need.

They aren't though. Figures just out for April show we borrowed more money than for any April in the history of Britain. We are credit junkies - try as we might we just can't make the cuts and stop borrowing. It's a mathematical certainty that we can never get out of the hole that that prat Gordie dropped us into.

 

[geraint]

the difference between us and the rest of europe, is that we are going to pay our debt and then grow.... give it a year and our country will be in charge again. stronger than any economy this side of china.

I.E world beaters..... come on maggie.... back to the great in britain....

 

[joe-90]

the difference between us and the rest of europe, is that we are going to pay our debt and then grow.... give it a year and our country will be in charge again. stronger than any economy this side of china.

I.E world beaters..... come on maggie.... back to the great in britain....

Are you on drugs? We've got debts of 1.2 TRILLION quid. The French and Germans have a budget SURPLUS. We are in the same boat as Greece and Ireland.

 

[Nige F]

the difference between us and the rest of europe, is that we are going to pay our debt and then grow.... give it a year and our country will be in charge again. stronger than any economy this side of china.

I.E world beaters..... come on maggie.... back to the great in britain....

 

[joinerjohn]

The French and Germans have a budget SURPLUS.

There ya go. They can bail us out when the UK sinks.

 

[sooey]

The yanks will bail us out. Didn't their president just say how special our relationship with them is?

 

[Whitespirit66]

The yanks will bail us out. Didn't their president just say how special our relationship with them is?

Thought he called it 'essential'.

Yeah, right. If one day, 'er indoors tells you that she thinks your relationship is still special, you must not correct her by saying that it's essential: even if that's the truth.

 

[kevplumb]

The yanks will bail us out. Didn't their president just say how special our relationship with them is?

the yanks freakin well will not

they are having enough bother trying to sort their economy out

 

[snico]

the difference between us and the rest of europe, is that we are going to pay our debt and then grow.... give it a year and our country will be in charge again. stronger than any economy this side of china.

I.E world beaters..... come on maggie.... back to the great in britain....

Are you on drugs? We've got debts of 1.2 TRILLION quid. The French and Germans have a budget SURPLUS. We are in the same boat as Greece and Ireland.

The UK has a budget Surlplus also, more that originally forecast.

You cant just go out blaming Gordon Brown all the time, national debt has always been here and always will. The UK's debt is not historically high, and its not high compared to other countries across the globe.

The UK is prediciting a good economic growth which will increase the debt to GDP ratio, that wasnt the case in Ireland and Greece. Thats why the UK will not follow them.

If the Tories increase these huge spending cuts, that leads to a fall in GDP which then leads to an increase in GDP to debt.....thats the reason the Tories are not doing as good as they origianally thought they would. They could actually make things a lot worse

You have to have an understanding and know the difference between debt, deficit, GDP, National debt, public sector debt etc to know how well we are doing