Jump to content
House Price Crash Forum
Sign in to follow this  
Mega

Gordon Will Half The Debt In 4 Years With No Major Cuts!

Recommended Posts

Not half the debt, he says he will half the deficit. So in four year he will only be borrowing £85bn and not £170bn a year. Hardly a good boast.

It says:

He has promised a new legal commitment to halving the public debt by 2015.

The IMF says the debt is on course to triple, so they are obviously wrong. They are too ignorant to realise that debt can be legislated away. Thankfully, there is a world-class statesman who knows how.

You might think he is surely not suggesting the trivially obvious solution, but then this is someone who with a straight face said that his promise of avoiding a tory "boom and bust" was kept as this is a labour bust instead. I am so naive, I continue to be shocked by just how little regard the ruling class have for the electorate. I am also starting to worry it may be justified.

Share this post


Link to post
Share on other sites
It says:

The IMF says the debt is on course to triple, so they are obviously wrong. They are too ignorant to realise that debt can be legislated away. Thankfully, there is a world-class statesman who knows how.

You might think he is surely not suggesting the trivially obvious solution, but then this is someone who with a straight face said that his promise of avoiding a tory "boom and bust" was kept as this is a labour bust instead. I am so naive, I continue to be shocked by just how little regard the ruling class have for the electorate. I am also starting to worry it may be justified.

he wont be in power, and if he is he has promised a legal method to do it....and as all politicians promises mean nothing, it too means nothing.

Share this post


Link to post
Share on other sites
Guest The Relaxation Suite
and he is speaking the truth too......!!

I can guarantee you the governmnets debts will be halved in 4 years time.

INFLATION -" transfer of wealth from the people to the state"....

The last ten years of outrageous inflation didn't help any, did it?

Share this post


Link to post
Share on other sites
The last ten years of outrageous inflation didn't help any, did it?

but the last ten years of inflation will look like chicken feed , hell Yugoslavian and Zimbabwean inflation will look like chicken feed once Gordo's printy printy final solution kicks in...

Probably linked to electioneering ie £50,000 for your vote! , people vote for Gordon they get his worthless printed money which was stolen out of their own pockets in the first place.

Or ATMs suddenly have a 'malfunction' whereby when you request £20 it gives you 2 million pounds instead

Share this post


Link to post
Share on other sites

I hear people say that inflation here will be worse than Zimbabwe but does anyone actually believe that? Surely you can't get much worse than Zimbabwe?

Edited by squire

Share this post


Link to post
Share on other sites
It says:

The IMF says the debt is on course to triple, so they are obviously wrong. They are too ignorant to realise that debt can be legislated away. Thankfully, there is a world-class statesman who knows how.

You might think he is surely not suggesting the trivially obvious solution, but then this is someone who with a straight face said that his promise of avoiding a tory "boom and bust" was kept as this is a labour bust instead. I am so naive, I continue to be shocked by just how little regard the ruling class have for the electorate. I am also starting to worry it may be justified.

He can do this easy - if all else fails the definition of debt will be changed to only include government bonds issued on a Sunday.

Share this post


Link to post
Share on other sites
Guest The Relaxation Suite
I hear people say that inflation here will be worse than Zibabwe but does anyone actually believe that? Surely you can't get much worse than Zimbabwe?

In my humble opinion people that compare Britain with Zimbabwe shouldn't be taken very seriously. If they want to make the point they should to Weimar, I should think. That might be more relevant. But not now - deflation first - after all we just had one of the world's biggest inflationary booms and look at the results! Why people think we'll have another without a round of deflation first I don't know.

Share this post


Link to post
Share on other sites
In my humble opinion people that compare Britain with Zimbabwe shouldn't be taken very seriously. If they want to make the point they should to Weimar, I should think. That might be more relevant. But not now - deflation first - after all we just had one of the world's biggest inflationary booms and look at the results! Why people think we'll have another without a round of deflation first I don't know.

Sure Weimar republic hyperinflation , but the examples of hyperinflation such as Yugoslavia , Argentina are all in recent memory, while Weimar is barely in living memory , other examples too like Ming Dynasty and Roman empire are ancient history and confined to dusty text books a massive proportion of the population wont read about or see and people can say oh its different this time (sound familiar?)

While Zimbabwe it is happening as we speak and it gets mentioned in the major news now and again...

Share this post


Link to post
Share on other sites
I hear people say that inflation here will be worse than Zimbabwe but does anyone actually believe that? Surely you can't get much worse than Zimbabwe?

Oh I dunno , Zimbabwe isn't all that developed a nation even before the current problems, the UK is a fairly heavily developed country, think of how many printers WE have vs how many printers Zimbabwe has ontop of printy printy we can also create money out of thin air on computers , like the last QE thing , hence Gordo in a mad moment may decide to virtually print a couple of trillion pounds by moving a decimal place.

While in Zim they have to make fresh printing places move it to the printers and get paper and ink to make the stuff.

Share this post


Link to post
Share on other sites
While in Zim they have to make fresh printing places move it to the printers and get paper and ink to make the stuff.

Perhaps this is the boost Bristish manufactuering needs! Money printing can become the major industy of the UK. Will also bring down unemployment. Just have to find someone who wants to buy it (whats left after the printers have paid their wages).

Share this post


Link to post
Share on other sites

[quote name='MongerOfDoom' date='Sep 26 2009, 10:28 PM' post='216497

I am so naive, I continue to be shocked by just how little regard the ruling class have for the electorate. I am also starting to worry it may be justified.

I am similarly shocked, but more by the respect the electorate have for the ruling class. Had a meal with (newish) friends last night. People I think of as being pretty intelligent, doctor, lecturer, retired judge, with similarly professional wives. They seemed to have nothing but praise for our ruling class. (Mind you, with the sort of salaries they are on, I suppose they would). The concensus was that Gordon was basically a good man, an excellent, prudent Chancellor but not a great leader; Tony Bair is a brilliant speaker and a great leader and has a very clever wife; nobody could have seen the bust coming and it was global anyway so nobody's fault......and so it went. It p1sssed me off a bit, frankly, to hear these pillars of society coming out with so much naive cr@p. I didn't get much of a response when I asked how it was, then, that the country was probably on the brink of bankruptcy. It was almost as if they were afraid to have forthright opinions. Either that or they haven't got a clue what might be going on out there. Slightly depressing, really.

So, DoomMonger, you are probably right to worry that that the ruling class's contempt for the electorate is justified.

Share this post


Link to post
Share on other sites
In my humble opinion people that compare Britain with Zimbabwe shouldn't be taken very seriously. If they want to make the point they should to Weimar, I should think. That might be more relevant. But not now - deflation first - after all we just had one of the world's biggest inflationary booms and look at the results! Why people think we'll have another without a round of deflation first I don't know.

The trick is to remember that inflation has little to do with consumer prices[1], and deflation a whole lot less. We've got both right now. Deflation will get worse with fiscal tightening ("stimulus" runs out of printer ink); inflation will get much worse with money printing.

(If you think deflation = falling prices, just consider any consumer electronics industry: a human lifetime of rapidly and continually falling prices hasn't exactly strangled companies like Apple, Nokia or Sony - to take just one example from each developed continent).

[1] Well, it will show up in consumer prices, but this is inflation that happened several years ago.

Share this post


Link to post
Share on other sites

they're not pillars of society they're just nicely comfortable men & women cushioned from economic reality, a real pillar of society gets their hands dirty doing real work for comparitively modest remuneration, one shouldnt confuse the well-connected with the well-intellifgent and well-grounded

Share this post


Link to post
Share on other sites
Not half the debt, he says he will half the deficit. So in four year he will only be borrowing £85bn and not £170bn a year. Hardly a good boast.

The interview referenced is in the NOTW and is a right mishmash but it does say:

Mr Brown launches his general election campaign with ambitious promises to:

REDUCE the Treasury's deficit by half in four years

The defecit is not the debt. To half the debt in four years would be totaly incredible. Basically the article is saying he will half the amount we need to borrow each year to stay afloat as a country. WhoopeeDoo.

Share this post


Link to post
Share on other sites
they're not pillars of society they're just nicely comfortable men & women cushioned from economic reality,....... one shouldnt confuse the well-connected with the well-intellifgent and well-grounded

Yes.

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:   291 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.