Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
2 September 2010
09:0168412that is UK gross debt will top 90.6% of GDP by 2015.
That clearly explains the urgency of George Osborne's accellerated deficit reduction plan. The rating agencies have already downgraded Ireland despite their deficit reduction plan. Imagine the disaster if we still had Brown and his idiotic plan to just halve the deficit - we would be downgraded and would need to suffer even deeper cuts while our interest rates would be shooting up.
The latest expectation is for UK interest rates to be held at the current level until Quarter 2 next year but can then be expected to rise. This is the suggestion from a poll of 60 economists. Labour's QE will be working through into inflation by then and a further fiscal tightening will be necessary to control it.
There truly is no alternative to these cuts whatever posteuring we get from the opposition.
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
2 September 2010
09:1068413Might be worth just looking at the TUC general secretary view.
sure you don't share his view.
But none the less a view
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Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
2 September 2010
09:4768414I frankly could not care less what the TUC think any more than I care what Labour thinks about macro-economic matters.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
2 September 2010
11:1668423barry
i think it is best to listen to all sides of the argument.
we will only know in about 5 years time whether george is right.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
2 September 2010
11:3768425HOWARD
You are correct
Its thius blinkered view that will see the collapse of this cobbled together government
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Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
2 September 2010
13:5268460Common sense tells us GO is right.
Labour totally screwed up consistently over 13 years and their errors that contributed to this sorry situation are clearly defined. Brown being at the centre of it, his misjudgements and it was he who repeatedly ignored good advice that did not conform to his view.
Apply Brown's financial mismanagement to your own finances and that will tell you exactly the problem.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
2 September 2010
18:4568491miguided
rose tinted glasses
baz
18 months
you heard it from me first
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Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
2 September 2010
19:4668503change the record Keith.
I would like to see you run your finances the way Brown ran the country's. Dont come to me for advice on getting yourself out of the problems you find yourself in!
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
2 September 2010
22:0168520i have to say that common sense is not the criteria for a good chancellor, a shrewd brain is more important.
our countrys finances are much more complex than our household ones.
we simply have money incoming and bills to be paid outgoing, nothing like what a chancellor has to contend with, such as how the nasdaq, nickei and all that are doing and currency rates worldwide.
2 September 2010
22:4968529Erm, getting paid abroad I have to watch the money markets to ensure I buy sterling at the right time, so "pop" goes that argument.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
2 September 2010
22:5368532lost me on that one sid.
whos argument?
2 September 2010
22:5568534Your riposte to Barry (#9) of course, do you not read what you are posting?
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
2 September 2010
22:5868537sid
kindly explain where i have got it wrong?
2 September 2010
23:0168540You said home finances were not as complex as HMG's because we only had to concern ourselves with what was coming in and what we were spending. Well, that is not true, some have quite complex home finances.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
3 September 2010
05:2468553Howard - no that is where people actually make a mistake. The bottom line is as simple as your own finances. You have income, you have outgoings and if the latter are higher than the former for an extended period then you have a probem.
Like you and your own finances you can weather a downturn in your income for a short period by managing cashflow with your credit card, as long as it is a short period. If you dont repay your debt when your income increases then you are less able to cope with the next downturn in income...
Borrowing can be positive for you, to buy a home or other capital spending, as long as you can repay it and do so. It is the same for a government.
If your have a budget surplus (saving) and little of no debt you are not wasting money on interest repayments and have scope to borrow when times get tight without getting into trouble. This may be more difficult for an individual than a government but credit cards are commonly used.
Brown himself laid out some golden rules that were very much along these lines, but then he broke them and that is why we have a problem now.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
3 September 2010
06:526855518 months I say
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Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
3 September 2010
10:2868573Keith - say something new and relevant to the discussion, please..... have you no defence at all for the mess Labour got us into?
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
3 September 2010
10:3268575baz
for ME this is better on the politics page barrys blog
but who am i to say lol
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Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
3 September 2010
21:5768688One can learn all about finances as we know them by playing a game of monopoly. Only, in Monopoly it is not allowed that a contendent goes into debits, hence who runs out of money and has no houses or hotels to mortgage, must resign!
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
3 September 2010
21:5968691monopoly
theres a game
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