Friday, Mar 26, 2010
Bit harsh but pretty accurate
Fortune via cnn: Are the Brits headed for the PIGS sty?
Is the United Kingdom in danger of being exiled to the island of misfit debtors?
Posted by mark @ 05:21 PM (1663 views) Add Comment
14 Comments
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1. mark wadsworth said...
It's "PIIGGS" actually. Portugal, Ireland, Italy, Greece, Great Britain, Spain.
2. mark said...
actually it is
PIIGGSUS
Portugal, Ireland, Italy, Greece, Great Britain, Spain, United States
anymore to add?
3. mr g said...
Ed Balls will sort it all after labour are re-elected.
ROFL
4. tenyearstogetmymoneyback said...
mr g. I think there is a clue in his name as to what will happen.
5. mr g said...
Exactly TYTGMMB
When the next financial crisis hits, all we'll hear will be Balls.
6. Python said...
I am just hoping and praying Labour will get re-elected - markets will love it!!!
7. markj69 str05 said...
Should be GIPSI!
Gypsies (Travellers), choose not to own a house. Whereas most people living in a GIPSI country either can not afford to buy a house or could not afford to purchase the home they actually live in.
The country is in a state of limbo. Only after the GE will things start to get interesting. House prices will have to drop. Affordability is key, not the availability of debt. The sooner this is addressed the sooner the country will start to recover.
8. debtfree said...
How about UKISSMYBONDPIG
United States of America, Kuwait, Ireland, Spain, Slovenia, Mexico, Yemen, Bulgaria, Oman, Netherlands, Denmark, Portgual, Italy, Greece
9. mark wadsworth said...
Markj69, that sort of touches on another of my favourite thought experiments - whether we'd be better off if we all lived in mobile homes, and instead of paying income tax and so on, we just paid rent on the site we occupied. If the neighbourhood got too rough, we'd just hire a lorry to move it somewhere nicer. if the neighbourhood got too nice and rents went up, we'd shuffle around a bit and occupy a smaller plot within the same neighbourhood.
Debtfree, that's pretty good but I can't see "UK" or "GB" in that list. Plus NL has a ridiculuosly low debt-to-GDP ratio of 25% or something, they'll be the last to get into trouble.
10. devo said...
we'd be better off if we all lived in mobile homes, and instead of paying income tax and so on, we just paid rent on the site we occupied. If the neighbourhood got too rough, we'd just hire a lorry to move it somewhere nicer. if the neighbourhood got too nice and rents went up, we'd shuffle around a bit and occupy a smaller plot within the same neighbourhood.
nice idea wadsworth - we could call ourselves 'snails'.
or how about this? we could remove the wheels from the 'mobile homes' and just call them 'homes'. we'd still 'shuffle around a bit', but without our living quarters attached - we would then call ourselves 'slugs'.
11. clockslinger said...
For "free floating currency that can ease economic adjustment" read "inflation".
12. uncle tom said...
Debtfree,
You could add Thailand to the list - I'd try to work out a neat acronym if I was sober..;)
13. This comment has been removed as it was found to be in breach of our Blog Policies.
14. Leet said...
2. mark said...
actually it is
PIIGGSUS
Portugal, Ireland, Italy, Greece, Great Britain, Spain, United States
anymore to add?
How about Iceland? I've swapped the G for UK in the acronym.
PIGSIUKIUS.
Portugal, Italy, Greece, Spain, Ireland, United Kingdom, Iceland, United States