Guest 705- Registered: 23 Sep 2010
- Posts: 661
So gents am I to believe that a vicious cycle has been set in motion. Politicians have obviously realised that to remain in office they needed to make bigger promises, call for bigger reforms, and ultimately borrow more and more money.
Am I to believe that addiction to debt has spread into every corner of British society. Banks... businesses... the ordinary man on the street - these days they all carry a great weight of debt. Debt has become normal. Want a holiday? Pay for it on credit. Want a new crowd-pleasing cut in taxes? Fund it with debt. Could it be that many of our politicians - so-called educated people who are meant to be looking after our interests - have acted like teenagers with their first credit card - all to win votes.
If the UK had been a business or an individual, we'd have been declared bankrupt by now. We'd have been forced to sell our business premises or our home and would have been housed in a run-down flat long ago.
We are broke. We have been for a long time.
But very soon, it will really hit home. The Matrix is not so far from the truth.
Good afternoon Mr Citizen we've been expecting your company... how nice to see you-you must give us your cash so that we can save face...
Never give up...
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Richard, there is NO WAY the Public Debt can be paid off in conventional ways, or even reduced.
It is designed to get bigger all the time and even just the interest on the Debt is beyond the means of the annual budget.
This is one economic certainty of which you can rest assured.
Just the interest alone on the Public Debt - which increases all the time - requires taxes beyond belief, and more borrowing, and more spending cuts.
Greece bailed out because the interest on their public debt became non-payable.
Now Greece has to pay back the interest, the original debt, and the bailout(s) plus the interest on the bailouts (of which there have been two).
The result is 57% youth unemployment, 27% overall unemployment, mass poverty and people going without medical care, and massively reduced salaries, and huge chunks knocked out of pensions.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
We are getting there, Richard
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
alexander
and the alternative is ????????????????
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howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
the alternative is to default then see what happens.
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Iceland did the right thing
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Alternatives, Keith, are there.
But before finding an alternative, we could streamline some current over-expenses:
to start with, there should be no more private-family bank holidays, costing 0.5% of GDP each.
We don't all live on Planet Zog, and the private-family already have luxuries abounding, without inflicting public bank holidays in their own honour that drive us into double and treble dip recession.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
I presume by private family you are referring to the head of the church of england church?
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Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
so alex,are we going down the route of chairman barry,
thou shell work 18 hours a day 24/7,365 days of the year.
1 day of every leap year.
pay 60% tax on your wages etc.
such a good idea.but don't tell the prime minister.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Certainly no to that, Brian.
Working less would be alright, but it'd need to be organised beforehand, ie people can work part-time if they prefer.
But the minimum wage would need to be increased, or rent and cost of houses/mortgages reduced.
But that won't solve the Public Debt, which is a different issue.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
no answer then alexander
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