Monday, September 22, 2008

Darling admits heavy use of hallucinogens

Financial crisis: Alistair Darling admits Britain will fall into dangerous debt

Darling, half of a lawyer/historian pair traditionally associated with maths skills, announced that the government will be going heavily into debt. This is reasonably interesting, I think there will be deflation at some point, so government borrowing won't necessarily cause inflation, but gov. borrowing will cause higher taxation. As in even if taxation stays the same, more will go on debt servicing not services, so we pay more. Basically if an economic stimulus works then good, and by that I mean people hold sustainable jobs and savings maintain value. This is just the beginning of what looks like collapse. Idiot Darling ignores the fact that Japan was a massive net creditor when they started expanding government borrowing, whereas the UK is the most indebted .....

Posted by stillthinking @ 03:49 PM (1089 views)
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6 thoughts on “Darling admits heavy use of hallucinogens

  • … country per person in the world. So any government borrowing will be inflationary because they certainly can’t increase taxes (immediate bust for many). So now we can look to the unions. If the unions look to match wages against inflation then Darling can’t do it. As he borrows to pay for inflation increases, inflation increases. As we are dependant on external fuel/food sources not within UK control, disposable income will shrink. Tax revenue will shrink further.
    THIS IS A SPIRAL OF DECLINE !!!!!
    Even if deflation as a threat is halted by government borrowing, then there won’t be any money available for mortgages.
    Because he is a complete fool, and I think we all know from school that those extremely poor with mathematics went into essay writing subjects, and also, unforgivably mainly concerned with the survival of the destructive Labour party, this country is going to go into a mother of a recession.
    All that matters is keeping people in work, and keeping the real value of their wage, and enabling the workers to spend money amongst themselves thereby maintaining economic activity.
    This does not do that. Disposable income will shrink. Debts will become more expensive to service. We are going to enter a world of being unemployed and trying to save from our benefits by eating grass.

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  • The reason triage is practiced from military doctors through to the casualty department of your local hospital is because in the end more people end up being saved than otherwise. Spend too much time on somebody with a very slim chance of survival and you will lose two who could have made it.
    The UK needs employment triage, we need to concentrate on maintaining the jobs which can be saved. New Labour will push this country into mass unemployment with current policies.
    The majority need to understand how serious this really is, and they need their noses rubbed in the fact that it -doesn’t stop getting worse, it just gets worse and worse, there is no natural bottom-.
    New Labour are so far away from a decent policy response that they must be living in another world. I am guessing that both Brown and Darling had mums who absolutely ran to them when they skinned their knee. They seem to be under the delusion that things will work out alright anyway …
    People in Japan starved to death from poverty after the collapse. They actually starved to death. Don’t let the amusing inflatable umbrella stories mislead you. Many former workers committed suicide to provide their families with their life insurance money (allowed there and no will to change the policy). Most prostitutes in Japan are single mothers.
    Life in the UK can get worse than people imagine.

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  • You have to also realise that this governments policies have produced a large feckless population of unemployable people who are totally reliant on the state for it’s sustenance. These people have never worked because they don’t need to, the state looks after them, when their dole money drys up they will become very confused and angry, what they will not do is look for work.

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  • I agree with both of you. It’s not pretty, we are breeding layabouts, we’re already insolvent as a nation, and the guys at the helm are morons.

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  • Mr Mickey, you are absolutely right; they will not turn to work and industry to help themselves… though there are people out of work through misfortune who will, of course.

    Taking this from a very (VERY) different angle, I was brought up in one of the old Pentecostal churches in the UK, and although that sounds crazy now (pass the certificate so I can sign on the line territory), there was a similar mindset there. IF things get really bad – as in “as bad as the world war” kind of bad – then people will turn to God and ergo, there will be a revival. So, paradoxically, this economic mess is actually the answers to these guys prayers. Not mine, I hasten to add.

    No? You have got to be kidding. Roll on some 40 years life experience and I can tell you folks waiting out there – people do NOT turn to God during hardship times. They turn to anything that comes into their heads and I am very worried about what is to come – because this is the way it’s gonna be folks.

    Hard tack time.

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  • last_days_of_disco says:

    I think UK is heading for a hostile takeover. You can call it a merger if it makes you feel better.

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