Jump to content
House Price Crash Forum
Sign in to follow this  
Dave Spart

Public Sector Debt

Recommended Posts

We keep hearing that thanks to the bank bailouts and what not, there is a whole in the public finances the size of £200bn.

Just to put it into perspective that's more than 30 times the cost of fighting the Iraq War (£6.5bn)

It's the saddest irony that so many saw fit to protest so vehemently against the war but so few saw fit to protest against the world's greatest ponzi scheme.

As the song says "If there's lessons to be lear-ear-earned . . . . "

Edited by Dave Spart

Share this post


Link to post
Share on other sites
We keep hearing that thanks to the bank bailouts and what not, there is a whole in the public finances the size of £200bn.

Just to put it into perspective that's more than 30 times the cost of fighting the Iraq War (£6.5bn)

To be fair, for a lot of us, it wasn't the cost of the Iraq war we had a problem with...

... That said, every time I start thinking about the cost of this financial mess, and the fact that there are still bankers and politicians walking around with a sense of entitlement, I just start to boil with anger. I have to slowly back away from my rage before it ruins my whole day.

Edited by tomandlu

Share this post


Link to post
Share on other sites

The damage inflicted by war is ready made for television. Dead and mangled bodies, smashed property, refugees. The images are most certainly shocking but suffered by a relatively small proportion of the global population.

The damage inflicted by a global blanking ponzi heist of the sort we've seen is less easy for the public to grasp.

When someone is made bankrupt they don't suffer having a limb blown off.

When a company goes into liquidation there's no laser guided bomb damage to marvel in horror at.

When people stand in dole queues the tears are hidden.

While the misery suffered by every individual as a result of this crisis is less severe than that of warfare, it is shared among a much larger proportion of the global population.

Edited by Dave Spart

Share this post


Link to post
Share on other sites

Actually its not just the labour policies of not reigning in borrowing coupled with mismanagement over the regulation of the financial industry which caused this..... the problem is that people vited for Labour in the first place, then they voted for them again and then they voted for them again... I am not even convinced they will not vote for them yet again.

The writings been on the wall for ages that labour would get us all into some sort of financial mess, they have been incompetent down the ages.... and if you let people off voting for them the first time... the signs were begining to emerge and continued to emerge.

promise not raise income taxes, then raise other taxes 100 times.

change to university education places, basically lowering the bar and adding huge amounts of govt and personal debt.

claiming prudence while holding some state liabilities "off balance sheet" eg network rail, student loans etc.

growth in quangos to 150.

botching the pay awards for doctors so that they could do less work and earn more money.

not standing up for british rights in europe, eg no sanction has been handed down to france for banning british beef for years after it was given the all clear by the euro authorities.

giving up a huge slug of the eu rebate without negotiating a reduction in farm subsidy.

botching educational reform so exams now cost more to run , results are not delivered on time (see sats performance) and when they do arrive no one knows what they worth.. is an a at GCSE similar to an A at o level twenty years ago... or a C ?

proposing the rebuilding of schools who say that rebuilding is an unnecessary waste of money.

suddenly discovering 100,000 civil service posts which could be cut, promising to cut them and then not delivering.

promising to cut £3db, £5bn, £9bn from costs and then have the budget rise to the level it was predicted to rise to pre the cuts.

etc etc.....

it used to be that the only thing labour could be said to have achieved of merit were

1/ The ban on hunting with dogs (if you were of that persuasion) but that has turned out to be so badly mismanaged that more foxes are killed during more hunts than ever before.

2/ Giving independence to the BOE.... not a bad move, but unfortunately along with giving the BOE independence over interest rates they made the mistake of giving away their oversight of financial markets... having one unitary authority ioverseeing banks might well have resulted in a different outcome.

Add in all the sleave ... cash for passports, selling peerages, David Kelly, Lying about Iraq, etc etc.......

I never voted for Labour, what amazes me is that so many voted for them not once but time and time again... some I am sure will even vote for them yet again..... those are the people who are really to blame.

Share this post


Link to post
Share on other sites
Guest anorthosite
We keep hearing that thanks to the bank bailouts and what not, there is a whole in the public finances the size of £200bn.

Just to put it into perspective that's more than 30 times the cost of fighting the Iraq War (£6.5bn)

And to put it in a wider context, the Apollo Program, probably the greatest achievement in the history of mankind, cost $135 billion and the Manhatten Project was $24 billion, both in today's money.

Think what we could have achieved if the banks hadn't screwed up. :angry:

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   288 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.