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NotMyHouse

How Long Before We Call In The Imf?

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What can they do? Issue more debt? If we go down Sovereign debt of the other countries won't be worth anything either. If it is they won't want the UK to drag them down too. The IMF has no money, it doesn't have tax revenues and it doesn't make a profit.

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Interesting.

I just posted on another thread that Cameron should invited the IMF in on the day he takes over so that it is clearly to correct the damage caused by GB and the massive austerity measures necessary could be blamed on the IMF.

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What can they do? Issue more debt? If we go down Sovereign debt of the other countries won't be worth anything either. If it is they won't want the UK to drag them down too. The IMF has no money, it doesn't have tax revenues and it doesn't make a profit.

The IMF will demand massive cuts in expenditure. Think in terms of means tested state education and the NHS and cuts in infrastructure spending. Massive unemployment with cuts in welfare benefits. Possible abandonment of min wage forcing people to work for very little or go without.

We are not so different from Argentina- why do we expect a higher satndard of living.

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Guest Skinty

Good idea about calling in the IMF on the day after the general election. I put 6 months myself. I think that may be too soon though but once the Tories come in, they'll be making all the cuts that the IMF will demand anyway. This might be enough that the IMF won't be required.

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Good idea about calling in the IMF on the day after the general election. I put 6 months myself. I think that may be too soon though but once the Tories come in, they'll be making all the cuts that the IMF will demand anyway. This might be enough that the IMF won't be required.

Senior civil servants know that Brown's plan is to get everything spent by next May and have been ordered to get on with the spending. This scorched earth policy maximises the chance of a Labour victory, maximises problems for the incoming government, and maximises the chances of the electorate-who are stupid-blaming the incoming government.

Treason.

Nick

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Good idea about calling in the IMF on the day after the general election. I put 6 months myself. I think that may be too soon though but once the Tories come in, they'll be making all the cuts that the IMF will demand anyway. This might be enough that the IMF won't be required.

Can you imagine the bad press Cameron would get. We still remember "Thatcher the Milk Snatcher" after she cut free school milk.

If welfare benefits were cut while simultaneously making non-essential public sector employees redundant and renaging on their pensions there would be riots. Best to blame the IMF I think.

Edited by dr ray

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The IMF will demand massive cuts in expenditure. Think in terms of means tested state education and the NHS and cuts in infrastructure spending. Massive unemployment with cuts in welfare benefits. Possible abandonment of min wage forcing people to work for very little or go without.

We are not so different from Argentina- why do we expect a higher satndard of living.

If we get a serious collapse, in the bond market say, then it will be much too late for the IMF to impose these measures. Even if we did them now it wouldn't make much difference. We are much worse off now than Argentina ever was and we are driving full speed into the wall with the accelerator to the floor.

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The IMF don't have the money, but I would like to see the restrictions they would impose on us...(IHMO Gordon would be a restriction as he has ignored EVERY warning the IMF has given the UK)

Edited by moosetea

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The IMF will insist on IRs increasing to significantly north of 10%. The effect on the housing market (and wider economy for that matter) will be catastophic.

Cash remains king for the foreseeable future...

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The IMF will insist on IRs increasing to significantly north of 10%. The effect on the housing market (and wider economy for that matter) will be catastophic.

Cash remains king for the foreseeable future...

I'm no economist but the government spending cuts the IMF would impose would be deflationary and the only reason to increase interest rates would be to protect the pound. If the IMF was in charge one would expect the £ to do quite well compared to what it should be doing with GB thrashing the economy and printing money.

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No debt jubilee?

Will this mean we get more free funny money printed from thin air but this time called SDR?

I doubt the IMF want to touch us with a barge pole and rather just everyone bury there head in the sand and pretend everything is OK.

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The IMF will demand massive cuts in expenditure. Think in terms of means tested state education and the NHS and cuts in infrastructure spending. Massive unemployment with cuts in welfare benefits. Possible abandonment of min wage forcing people to work for very little or go without.

We are not so different from Argentina- why do we expect a higher satndard of living.

We are hugely different from Argentina, they net export food we don't so we should be much poorer than Argantinians

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We are hugely different from Argentina, they net export food we don't so we should be much poorer than Argantinians

Yes, but Argentina doesn't have honest politicians

Oh sh!t

You're right. We're fvcked

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Some of you guys have very idealistic perception of the IMF and what they do... the latest experiences of their intervention suggest you better don't reach that stage because they will fook it up even more; I only wonder if there's some agenda behind or just a coincidence.

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Some of you guys have very idealistic perception of the IMF and what they do... the latest experiences of their intervention suggest you better don't reach that stage because they will fook it up even more; I only wonder if there's some agenda behind or just a coincidence.

I wish I had a pound for every conspiracy theory that was just due to shear stupidity or being bone bloody idle or both, Sometimes you have to remind yourself its not a conspiracy they are just a bunch of usless wan*ers

Edited by tedies friend

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We are hugely different from Argentina, they net export food we don't so we should be much poorer than Argantinians

Not any more, they are importing beef. Government policies to keep beef prices down has destroyed the Argentina beef farmers.

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Can you imagine the bad press Cameron would get. We still remember "Thatcher the Milk Snatcher" after she cut free school milk.

Except she didn't, you remember what the press said not the facts.

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