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Everything posted by davidhpc

  1. "It's OK to wreck the economy because it's about helping people. and I've decided that this is what everybody else wants."
  2. They are your opinions and you are, of course, entitled to them. I'm very, very happy to not share your opinion on this.
  3. Is this the main reason behind the BBC spin and propaganda favouring Nu-Labour. http://news.bbc.co.uk/1/hi/uk/8313694.stm "A Conservative government could "rip up" the BBC's royal charter, the shadow culture secretary has suggested." "But Jeremy Hunt told the Financial Times that the corporation was "out of touch with the hard times the rest of the electorate is going through". He said the BBC's structure had "failed", adding that Tories in power would have a "very fundamental root-and-branch discussion with the BBC". "
  4. Mervyn cares not about moral hazard. BofE policy is shaped to attempt to get the current government re-elected. King has many millions in a pension pot that he wants to preserve and increase. A Conservative government will tell King to clear his desk within weeks of being elected.
  5. on top bank base rate is about 0.5. or is it less now? there are loads of c/cards & overdrafts being charged at around around 25% or more. 50 times base rate..... 5000% of it. another charge used to pay for the reckless.
  6. quite. king will be on to the ONS to get estate agencys in the basket of goods for CPI calc.
  7. It really is shocking that they spin it like that, when it is all about helping the banks.
  8. Government stats (ONS) Employment Rate 72.6% Unemployment 7.9% doesn't add up to 100. BIG gap there.
  9. Apparently the weak currency is seen as a help according to the BofE...... debt is wealth, weak currency is good, borrow your way out of debt, its like a comedy show, "In an interview last week, King was quoted as saying sterling's falls against major currencies were helping a much-needed rebalancing of the British economy towards exports." http://uk.mobile.reuters.com/mobile/m/FullArticle/eUK/CSASUK/nStocksNews_uUKLNE58T01J20090930
  10. Most of the public sector seem to be living in cloud cuckoo land. The ones I talk to seem to live in some sort of alternate universe. Out to lunch.
  11. No, you are incorrect, I am not an expert on the matter. DYOR.
  12. No, they played no part. It was the work of one man, Gordenron, his predecessors introduced the relief to help pensioners in the private sector. Says a lot about the character and ideology of the man.
  13. in his first budget in 1997, gordenron spitefully got rid of tax relief on pension fund dividends, then going on to increase public sector pension benefits.
  14. It's a fair point about only the best houses selling on lower volumes. It's a feature I noticed in the last crash, ie. the rubbish at the bottom becomes unsellable. it took a few years, but it slowly dragged the rest of the market down with it.
  15. Scum like Blanchflower are the exact people who led us here. They won't stop until they are stopped. People like King and himself made their Faustian pacts with devil. They get Brown and his shower into power and after they are thrown out they will live the rest of their lives in luxury on their protected pensions while the rest of the country can go to hell. Sod the next generation whose life chances they have left in tatters, sod the millions of people indebted for life to banks with directors who have creamed off billions. sod the millions of wasted lives thrown on incapacity benefits in return for labour votes. I could go on for a month. I read the case yesterday of the poor girl murdered by her drug dealer boyfriend, who the police wouldn't keep away from her because it might infringe on his human rights. Summed up this scum for me. Scum the lot of them.
  16. You could stick your 23K in the bank at 3% giving you 690 a year /12 = 57.50 a month off your 434 rent giving you 376.50 a month, cheaper than the 382 mortgage.
  17. so in summary, its debt is causing it problems and it could be paid back.
  18. I don't know why you think Japan's huge debt hasn't caused it any problems. I also don't know why you think it can never be paid back? Reading a few articles recently it seems Japan is about to cut spending. The idea being that it needs to placate growing worries that it can not support its huge debt mountain and the major problems that would bring. There seems to be growing concern that Japan will default at some point in the future.
  19. What were Major and Clarke doing in 1996, and even Gordenron for a few years after 1997 before embarking upon his trail of destruction? Why can't we get back there?
  20. yes, but for germany the increase is around 40%, UK increase is around 87%. taking us from a better level in 2007, to around equivalent in 2014, and presumably far worse if the current state of affairs is allowed to continue beyond then.
  21. I see the problem, on the current trajectory, being that we will end up with a debt level similar to Japan without any national assets to show for it.
  22. The figures show an almost doubling of debt as a % of GDP between now and 5 years time. This will get worse beyond that date unless something is done about it. As the table shows, outside of Japan, we already have the most work to do to correct our budget to achieve debt sustainability. edit to add 'as a % of GDP'
  23. "Since Japan’s government controls vast assets, notably the Japan Post bank, its net debt, at 86% of GDP, is far lower than its gross debt." "Japan, with a large pool of private domestic savings, funds a debt burden almost three times as big as that easily—and cheaply. Persistent economic weakness has pressed yields on Japanese government bonds down from 7% in 1990 to below 2%. " from Economist article.
  24. Again, this table shows that, according to the IMF, outside of Japan, the UK needs to make the biggest adjustment to its fiscal budget to achieve debt sustainability in 2014. Also look at the increase in debt between now and 2014, the UK's position nearly doubles, much worse than others in the table. If we take the figures back to around 2001/2 when Gordenron ditched his election promise to follow Clarke's treasury policy the true extent of Brown's destruction can be seen. Also, the UK has huge off-sheet liabilities such as PFI, which are just not counted in the debt levels, the government will not tell us how much these liabilities are. The USA, for example includes liabilities for public pensions in its figures, other countries do not. To provide a single % figure does not tell us the full picture.
  25. If you look at the table in my post above, taking note of the 'Fiscal adjustment required' column, which is the "Difference between forecast primary budget balance and primary balance needed for debt sustainability as calculated by the IMF". It gives Germany as only needing a 1.8% adjustment whereas the UK is listed as requiring a 5.7% adjustment, beaten only by Japan.
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