Icantbelieveitsnotbutter Posted January 19, 2009 Share Posted January 19, 2009 no one is saying do nothing - except the Labour claiming the Conservatives would do nothing. In reality, aside from the VAT cut, the Govt is now doing much of what the Conservatives called for, but having promised money left right and centre, but mostly left, it has less freedom to move. I notice the bid coverage on auctions is falling, perhaps early to see this as a trend, but the bids today for £1.25bn 2027 gilts was only 1.3x covered.... Other Countries are now cutting public sector spending. Gordon, you need to shout, they aren't listening, they seem to think if you can't afford it, you should cut spending.... Quote Link to comment Share on other sites More sharing options...
LOZ007 Posted January 19, 2009 Share Posted January 19, 2009 that qunt cable called for nationalisation of banks, they just dont get it. they need to let them collapse not delay the inevitable I completly agree with you on this one! They need to let them go, because not only will it hurt the people that were reckless but the government in the long term will end up destroying the lives of the people who were sensible. Quote Link to comment Share on other sites More sharing options...
punter Posted January 19, 2009 Share Posted January 19, 2009 no one is saying do nothing - except the Labour claiming the Conservatives would do nothing. In reality, aside from the VAT cut, the Govt is now doing much of what the Conservatives called for, but having promised money left right and centre, but mostly left, it has less freedom to move. I notice the bid coverage on auctions is falling, perhaps early to see this as a trend, but the bids today for £1.25bn 2027 gilts was only 1.3x covered.... Other Countries are now cutting public sector spending. Gordon, you need to shout, they aren't listening, they seem to think if you can't afford it, you should cut spending.... the gov SHOULD do nothing and let the banks collapse, then we can rebuild bailing them out won't work and will cost us a fortune and make the economy even worse Quote Link to comment Share on other sites More sharing options...
leafygardens Posted January 19, 2009 Share Posted January 19, 2009 that qunt cable called for nationalisation of banks, they just dont get it. they need to let them collapse not delay the inevitable I think Vince Cable has been one of the good guys in all of this. He certainly was warning about the explosion of credit a long time ago. Letting the banks go down would finish off the pound and the Labour Party. Quote Link to comment Share on other sites More sharing options...
Minos Posted January 19, 2009 Share Posted January 19, 2009 Injin, you're making sense to me!The banks have no power to make you pay for their ******ups. But the state does, oh, yes...... Pinch me someone You must see by now that the banks are the state. Quote Link to comment Share on other sites More sharing options...
ImA20SomethingGetMeOutOfHere Posted January 19, 2009 Share Posted January 19, 2009 Exactly. I can't see any solution to this. We need to start building a new set of industries, and innovate. Sadly, there is no chance of this happening until attitudes change, and DEFINITELY NOT with NuLabour in power. Where's the money going to come from to do that when we're going to be paying off this f***ing huge debt for generations? Quote Link to comment Share on other sites More sharing options...
Giordano Bruno Posted January 19, 2009 Share Posted January 19, 2009 Darling just on BBC Parliament now, repeated the line that the cost of doing nothing would be far greater.Considering what these idiots are doing I contend that doing nothing would be a far more cost effective method of doing something. Discuss. I agree with your propostition, I think. But that is not the real point, imo.The real point is that his suggestion, that the only alternative to doing what he is doing is to do nothing, is pathetic in the extreme. It suggests that he can only think of those two alternatives which is an incredible admission. There must be, and I know that there are, other ways of dealing with this crisis other than either nothing or his present policy. Such as nationalizing the banks properly and imposing a strict new regime of no bonuses ever again and sensible salaries for all employees from the chairman down and making them non-profit-making organizations, or using taxpayers' money to reimburse the depositors and then closing the bank(s) down or just letting them fail on their own. Quote Link to comment Share on other sites More sharing options...
Minos Posted January 19, 2009 Share Posted January 19, 2009 Where's the money going to come from to do that when we're going to be paying off this f***ing huge debt for generations? From the toil and suffering of your children. Do your duty and pop a few more out will you. Quote Link to comment Share on other sites More sharing options...
General Melchett Posted January 19, 2009 Share Posted January 19, 2009 You must see by now that the banks are the state. I thought I was a hardened cynic/realist before finding this site. Now I find I was more of a Polyanna, or perhaps Bertie Wooster. You are right... Quote Link to comment Share on other sites More sharing options...
the-sign-jacker Posted January 19, 2009 Share Posted January 19, 2009 (edited) Replying to The Cost Of Doing Nothing Would Be Far Greater - Darling THIS is going to happen if they bailout or not. so id rather have had saved the billions thown at banks be used on sensible infrastructure like power and food production. if stupid banks went bust trying to rip everyone off. tough tits. if people bought mortgages they could barely afford - tough tits. the cost of doing nothing would be that those who dealt it, smelt it. i dont see why THEIR problem (the idiots) should be our problem (the prudent). Edited January 19, 2009 by the-sign-jacker Quote Link to comment Share on other sites More sharing options...
notthereyet Posted January 19, 2009 Share Posted January 19, 2009 Darling just on BBC Parliament now, repeated the line that the cost of doing nothing would be far greater.Considering what these idiots are doing I contend that doing nothing would be a far more cost effective method of doing something. Discuss. In other words we are still going to be in the SxxT but it won't be as bad And they did not see it comming, what a laugh. Quote Link to comment Share on other sites More sharing options...
hourkid Posted January 19, 2009 Share Posted January 19, 2009 (edited) I agree with your propostition, I think. But that is not the real point, imo.The real point is that his suggestion, that the only alternative to doing what he is doing is to do nothing, is pathetic in the extreme. It suggests that he can only think of those two alternatives which is an incredible admission. There must be, and I know that there are, other ways of dealing with this crisis other than either nothing or his present policy. Such as nationalizing the banks properly and imposing a strict new regime of no bonuses ever again and sensible salaries for all employees from the chairman down and making them non-profit-making organizations, or using taxpayers' money to reimburse the depositors and then closing the bank(s) down or just letting them fail on their own. Darling's best bet may be to, over time, force banks to limit lending to companies who require finance over £Xm and instead, get the banks to provide such capital through the capital markets. Let the market decide who gets finance and at what price. See, the banks were in such a rush to win business in the last few years, that they were all tripping over one another to provide the lowest cost debt to secure relationships and future business. Let impartial investors, who are not looking to provide ancilliary banking products, decide. Edit: clarity ... Edited January 19, 2009 by hourkid Quote Link to comment Share on other sites More sharing options...
jonpo Posted January 19, 2009 Share Posted January 19, 2009 where is this "Do nothing party"... sounds freaking great .. can i be a candidate... doing nothing would be far far far far better than what these fuknuts are doing... Quote Link to comment Share on other sites More sharing options...
ImA20SomethingGetMeOutOfHere Posted January 19, 2009 Share Posted January 19, 2009 From the toil and suffering of your children. Do your duty and pop a few more out will you. Got the first one on the way actually Going to take the poor little blighter off to Queensland though. It's verging on child abuse to bring it up here IMO. Quote Link to comment Share on other sites More sharing options...
ImA20SomethingGetMeOutOfHere Posted January 19, 2009 Share Posted January 19, 2009 where is this "Do nothing party"... sounds freaking great .. can i be a candidate...doing nothing would be far far far far better than what these fuknuts are doing... A few years ago the Lib Dem/Labour alliance running Bristol City Council fell out and stopped speaking to each other. As a result the council stopped actually voting on anything and for a time effectively ceased to exist. Nobody seemed to notice. Quote Link to comment Share on other sites More sharing options...
the-sign-jacker Posted January 19, 2009 Share Posted January 19, 2009 Where's the money going to come from to do that when we're going to be paying off this f***ing huge debt for generations? from your ball bag. (in its basic form). Quote Link to comment Share on other sites More sharing options...
Minos Posted January 19, 2009 Share Posted January 19, 2009 Got the first one on the way actually Going to take the poor little blighter off to Queensland though. It's verging on child abuse to bring it up here IMO. Do you really think they'll escape it there? Quote Link to comment Share on other sites More sharing options...
ImA20SomethingGetMeOutOfHere Posted January 19, 2009 Share Posted January 19, 2009 Do you really think they'll escape it there? At least we can camp out without freezing our nuts off TBH it's more a quality of life thing. You can get by with very little and still have a nice life there. As long as you don't get eaten by a croc/tiapan/shark/jellyfish/spider that is. Quote Link to comment Share on other sites More sharing options...
Minos Posted January 19, 2009 Share Posted January 19, 2009 At least we can camp out without freezing our nuts off TBH it's more a quality of life thing. You can get by with very little and still have a nice life there. As long as you don't get eaten by a croc/tiapan/shark/jellyfish/spider that is. Sounds like a plan - best of luck. Quote Link to comment Share on other sites More sharing options...
ImA20SomethingGetMeOutOfHere Posted January 19, 2009 Share Posted January 19, 2009 Sounds like a plan - best of luck. Ta muchly. 12 month from now, fingers crossed... Quote Link to comment Share on other sites More sharing options...
jp1 Posted January 19, 2009 Share Posted January 19, 2009 Hasa anybody seen Pat the Prat recently? It seems to have all gone a bit quiet over there. He'll be busy over on LabourList Quote Link to comment Share on other sites More sharing options...
jp1 Posted January 19, 2009 Share Posted January 19, 2009 Rather than "Doing Something", as Peter Schiff recently said, politicians should be forced to swear a political version of the Hipocratic Oath that doctors swear, ie to vow to 'Do No Harm' In the current case, "doing nothing" may do less harm that running round like headless chickens, 10 policies-a-day, and "doing whatever it takes" Quote Link to comment Share on other sites More sharing options...
why me Posted January 19, 2009 Share Posted January 19, 2009 Ta muchly. 12 month from now, fingers crossed... I'll pitch your tent for you - Im leaving next month Quote Link to comment Share on other sites More sharing options...
General Melchett Posted January 19, 2009 Share Posted January 19, 2009 Ta muchly. 12 month from now, fingers crossed... It's the 'On The Beach' survival strategy. You'll have a little longer than the rest of us to ponder how stupid we've all been before TEOTWAWKI overwhelms you. No sure whether those extra moments of contemplation are a good thing or a curse.... Quote Link to comment Share on other sites More sharing options...
ImA20SomethingGetMeOutOfHere Posted January 19, 2009 Share Posted January 19, 2009 I'll pitch your tent for you - Im leaving next month Get some stubbies in the eskie then Where are you off to? Quote Link to comment Share on other sites More sharing options...
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