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Errol

Those Government Cuts In Full

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Those Government Cuts in Full

1. Government spending to rise by £50 billion by 2014.

2. Budget deficit to continue increasing by £3 billion a week.

3. No one to mention any of the above, as all media continue to describe cuts as savage, drastic, immoral etc.

4. Er ...

5. That's it.

- Just thought this was particularly amusing.

Check out the official Private Eye site: http://www.private-eye.co.uk/

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But think of the childen those poor (born into debt slavery) children.

Its them who the 'cuts' will hurt. If us social outreach executives arent paid £70k a year to oversee them, theyre the ones who will suffer.

The children, children, children...

:unsure:

:rolleyes:

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Thank you Errol, thank you very much.

Wouldn't worry about it though, as some on here say, debt doesn't matter and is actually the reason for technological advancement and improvements in productivity and isn't a problem if you have a printing press. :lol:

By the way, do you have to subscribe to see the original article?

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Just a word for perspective:

UK population = 61,792,000

Economically active UK population = 31,713,000

Source:

https://www.nomisweb.co.uk/reports/lmp/gor/2092957698/report.aspx

Additionally weekly UK debt = £3 billion (as quoted by Nick Clegg on BBC News - Deficit is over £400 million a day)

So:

£3,000,000,000 ÷ 31,713,000 = £94.60

So, that's £94.60 per week the government is spending for every working person in the country and one day it needs to be paid back with interest.

Think you can spare over £400 quid extra in tax a month for near perpetuity to pay this back? Sucking out all that money from the economy to pay this debt is going to cause a hell of a lot of problems, economic depression anyone?

Never mind, you don't need to pay it back. The government will do it on your behalf via inflation. Of course there will be the minor problem of a stagflationary depression to deal with, but don't worry about it.

The other solution (the real one) is default. Stiff our creditors and start living within our means. It means lower standards of living, but that is coming anyway, so best pick the best poison that will hurt least.

Anecdotally, I went into Oxford yesterday. 8 out of 10 people in the shops that served me were foreign. Fair enough, it's an international city, but the second largest sink estate in Europe is on the doorstep (Blackbird Leys) and is teeming with people being paid to be idle. Just saying.

Edited by General Congreve

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By the way, do you have to subscribe to see the original article?

Yes. I would seriously advise people to subscribe. To my mind Private Eye is the best news publication in the country by a long, long way.

Only £28 for a whole year as well - 26 issues. You can also subscribe for 6 month periods, I believe.

https://secure2.subscribeonline.co.uk/PEYE/subscription.cfm?cmp=N1286WEB

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Yes. I would seriously advise people to subscribe. To my mind Private Eye is the best news publication in the country by a long, long way.

I used to read Private Eye a lot in the mid- to late-80s.

I gave up eventually because all the stories of corruption and dodgy dealing depressed me.

However it seems to be one of the last (only?) remaining bastions of a little thing called "investigative journalism".

Long live Lord Gnome.

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all the stories of corruption and dodgy dealing depressed me.

Yes, it can be depressing. But no more so than reading HPC. The truth hurts.

There are some very depressing PFI figures in the latest edition.

Edited by Errol

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No Surprise since we have the three wise men at the helm:-

1. Dave 'cuts that never come' Cameron,

2. George 'keep rates lower for longer' Osborne, and

3. Nick 'high on the power' Clegg

Bill, Ben and the Flower Pot Men could do a better job that these clowns.

Still not to worry we have Uncle Merv on standby with a printing press...

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Those Government Cuts in Full

1. Government spending to rise by £50 billion by 2014.

2. Budget deficit to continue increasing by £3 billion a week.

3. No one to mention any of the above, as all media continue to describe cuts as savage, drastic, immoral etc.

4. Er ...

5. That's it.

- Just thought this was particularly amusing.

Check out the official Private Eye site: http://www.private-eye.co.uk/

Don't worry inflation will sort everything out. Nominal GDP growth of 10% for a decade will do the trick. Best not to hold to much cash.

Funny about the media though. Never let reality get in the way of a good story.

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Never mind, you don't need to pay it back. The government will do it on your behalf via inflation. Of course there will be the minor problem of a stagflationary depression to deal with, but don't worry about it.

The other solution (the real one) is default. Stiff our creditors and start living within our means. It means lower standards of living, but that is coming anyway, so best pick the best poison that will hurt least.

We are screwed either way, just like the US who are now pretending to carry out austerity just like us.

I can see this Dog & Pony show ending with Gold at $10,000 and Silver at $500, back to the original ration of 20:1.

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Those Government Cuts in Full

1. Government spending to rise by £50 billion by 2014.

However with inflation running at 4% that equates to about a £40bn real terms cut.

Also bear in mind that the total spending figure includes interest payments on the debt, so if you borrow another £500bn between now and 2014 that's another £20bn that you need to find out of other budgets.

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We are screwed either way, just like the US who are now pretending to carry out austerity just like us.

I can see this Dog & Pony show ending with Gold at $10,000 and Silver at $500, back to the original ration of 20:1.

Of course I forgot to mention in my first post that the creditors that are going to get stiffed are mainly the UK population.

You see, 70% of UK debt is held by UK pension funds (I think US pension funds hold 16%).

No easy way out for the poor taxpayer. They have sold their souls to the devil for the illusion of the good life that was built on political lies backed by debt.

Yep, I can easily see $10k and $500, in 2011 terms to boot (thanks to capital flight from debt when it comes), so we could see nominal prices even higher.

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Those Government Cuts in Full

1. Government spending to rise by £50 billion by 2014.

2. Budget deficit to continue increasing by £3 billion a week.

3. No one to mention any of the above, as all media continue to describe cuts as savage, drastic, immoral etc.

4. Er ...

5. That's it.

- Just thought this was particularly amusing.

Check out the official Private Eye site: http://www.private-eye.co.uk/

DC had only one job before becoming a politician - that was in PR. A professional liar, brought in to fix the economy. Reminds me of the work of Albert Speer.

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DC had only one job before becoming a politician - that was in PR. A professional liar, brought in to fix the economy. Reminds me of the work of Albert Speer.

Who f***ed it up in the first place?

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Yep, I can easily see $10k and $500, in 2011 terms to boot (thanks to capital flight from debt when it comes), so we could see nominal prices even higher.

I cannot see how the paper Gold & Silver market will continue when the rush comes, as anyone with half a brain will be insisting on physical, physical that cannot be delivered due to the phony paper market the banksters have created to prop up the fiat circus.

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Don't worry inflation will sort everything out. Nominal GDP growth of 10% for a decade will do the trick. Best not to hold to much cash.

I think you mean 'Nominal tax revenue growth of 10% a year for a decade will do the trick'. Good luck with that!

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I cannot see how the paper Gold & Silver market will continue when the rush comes, as anyone with half a brain will be insisting on physical, physical that cannot be delivered due to the phony paper market the banksters have created to prop up the fiat circus.

No comments from the lazy fiat bugs?

Can't work it out

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Those Government Cuts in Full

1. Government spending to rise by £50 billion by 2014.

2. Budget deficit to continue increasing by £3 billion a week.

3. No one to mention any of the above, as all media continue to describe cuts as savage, drastic, immoral etc.

4. Er ...

5. That's it.

- Just thought this was particularly amusing.

Check out the official Private Eye site: http://www.private-eye.co.uk/

:)

I just don't get why so many people are so keen to accept what they are told by authority figures and at the same time reject what they see with their own eyes. It's eerie.

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I used to read Private Eye a lot in the mid- to late-80s.

I gave up eventually because all the stories of corruption and dodgy dealing depressed me.

However it seems to be one of the last (only?) remaining bastions of a little thing called "investigative journalism".

Long live Lord Gnome.

Same here.

Rotten Boroughs was particularly depressing - and things are far worse now !!!

Still buy it when I can. Saved my sanity during the Lady Di cräp. Still have the copy. (It amazingly went to print on the Monday but still managed to catch all the nonsense).

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DC had only one job before becoming a politician - that was in PR. A professional liar, brought in to fix the economy.

We should get an economist like Gordon Brown run the economy instead.

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We should get an economist like Gordon Brown run the economy instead.

Actually the guy has a PhD in political history. Not that most economists have any idea how to run the economy anyway.

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Those PFI facts from Private Eye -

- PFI bills totalling £210bn: contracts already signed, stretching far into the future.

- £7bn other PFI schemes remain 'in procurement': at usual rates these will add £50bn to PFI bill.

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Actually the guy has a PhD in political history. Not that most economists have any idea how to run the economy anyway.

....an ounce of common sense would have been more valuable... :rolleyes:

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  • 298 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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