Thursday, Oct 15, 2009

The EU think we are in trouble

Daily Mail via This is Money: Britain is at high risk of going bust

The UK's worsening deficit poses 'serious concerns' that the country will be unable to meet future spending commitments such as pensions.

Posted by will @ 02:19 PM (2727 views)
Add Comment
Report Article


1. mark wadsworth said...

Tee hee, this is where Home-Owner-Ism realises it has pushed things too far.

They'll want to suck as much money out of the productive population (many of home are hom-owners, ironically enough) to keep the banks bailed out and house prices, rents and pensions as high as possible. When the H-O Party says "Britain going bust" what it means is that the lovely promises they made themselves out of somebody else's money are looking a bit shaky.

What they have to accept is that I might be under a legal duty to subsidise them out of my taxes while I live in the UK, I am under no legal duty to remain in the UK. I don't own a house here so what do I care about house prices? I am sure that I can find a country where The Powers That Be are not quite so rapacious.

Thursday, October 15, 2009 02:56PM Report Comment

2. fallingbuzzard said...

Yes, but the majority of people are stuck or too unambitious/fearing to leave so you just pump up the taxes for the masses. The wealthy or those with prospects will start to leave this country (for 183 days a year) and the immigration numbers are going to be very difficult to achieve.

Thursday, October 15, 2009 03:17PM Report Comment

3. stillthinking said...

I wonder why more people don't simply leave, but I think it is expensive and also fairly difficult, and the great unknown. Canada and Australia are harder to get into than people think. The US is virtually impossible.

We will see I suppose.

Thursday, October 15, 2009 03:29PM Report Comment

4. stillthinking said...

A friend sent me this, from Marx, normally his view is a bit looney but this one struck me as slightly apt

"A similar movement is going on before our own eyes. Modern bourgeois society, with its relations of production, of exchange and of property, a society that has conjured up such gigantic means of production and of exchange, is like the sorcerer who is no longer able to control the powers of the nether world whom he has called up by his spells. For many a decade past the history of industry and commerce is but the history of the revolt of modern productive forces against modern conditions of production, against the property relations that are the conditions for the existence of the bourgeois and of its rule. It is enough to mention the commercial crises that by their periodical return put the existence of the entire bourgeois society on its trial, each time more threateningly. In these crises, a great part not only of the existing products, but also of the previously created productive forces, are periodically destroyed. In these crises, there breaks out an epidemic that, in all earlier epochs, would have seemed an absurdity — the epidemic of over-production. Society suddenly finds itself put back into a state of momentary barbarism; it appears as if a famine, a universal war of devastation, had cut off the supply of every means of subsistence; industry and commerce seem to be destroyed; and why? Because there is too much civilisation, too much means of subsistence, too much industry, too much commerce. The productive forces at the disposal of society no longer tend to further the development of the conditions of bourgeois property; on the contrary, they have become too powerful for these conditions, by which they are fettered, and so soon as they overcome these fetters, they bring disorder into the whole of bourgeois society, endanger the existence of bourgeois property. The conditions of bourgeois society are too narrow to comprise the wealth created by them. And how does the bourgeoisie get over these crises? On the one hand by enforced destruction of a mass of productive forces; on the other, by the conquest of new markets, and by the more thorough exploitation of the old ones. That is to say, by paving the way for more extensive and more destructive crises, and by diminishing the means whereby crises are prevented."

Thursday, October 15, 2009 03:37PM Report Comment

5. mark said...

funnily enough on GMTV the other morning they were talking about record numbers of people leaving for OZland, the girl made a comment about will there be anyone left soon, then she looked rather sheepish as if the ear piece guy had said shut your mouth don't forget we are not supposed to promote this to the

Thursday, October 15, 2009 03:42PM Report Comment

6. charlie brooker said...

But we'd been told Sibley had outsmarted us, so Everything Is OK, right?

You tellin' me that not everything is OK?

Thursday, October 15, 2009 04:11PM Report Comment

7. need-a-crash said...

I thought you could still easily move to Aus, US or Canada if you could prove you had certain cash funds, so shouldn't be too much trouble for all us lot with our house deposits at the ready!

Besides there's always Europe you know and we have free movement there remember. I hear property in Spain is going quite cheap at the moment!

Thursday, October 15, 2009 04:14PM Report Comment

8. mark said...

OZ is easy to get into, USA not so much, they require 500k or 1 million for a green card depending on where you are investing, unless you have a profession in demand, lol

Thursday, October 15, 2009 04:39PM Report Comment

9. mr g said...

@ 6 But we'd been told Sibley had outsmarted us, so Everything Is OK, right?

Excuse my ignorance but who is Sibley?

Thursday, October 15, 2009 05:03PM Report Comment

10. fallingbuzzard said...

Just live and work in Switzerland. There are absolutely no barriers at all and they're coming after us as far as I can tell.

Thursday, October 15, 2009 05:18PM Report Comment

11. luckyjim said...

And the most expensive city in the world for property prices is...

...Sydney Australia

Thursday, October 15, 2009 05:19PM Report Comment

12. estrader said...

@11 - I am originally from Sydney, Australia and property is even less affordable there than here. I read the news on

And people there are saying the same things here ie/ Many want to leave Sydney because they think the U.K is affordable!!,28323,26123599-5013951,00.html

Look at this article and read the comments...there is no escape!

Thursday, October 15, 2009 05:50PM Report Comment

13. alan said...

Factory gate inflation is up, I'm wondering when we will see higher prices in the shops.

With the pound dropping and lots of our purchases coming from abroad, the inflation rate is stubbornly low.

Thursday, October 15, 2009 05:57PM Report Comment

14. phdinbubbles said...

@mr g
"Excuse my ignorance but who is Sibley?"

He's a troll that lives in the dark underworld of the forum.

Thursday, October 15, 2009 06:44PM Report Comment

15. vindicated said...

@ Need a crash, to confirm what Mark has said, there are really only x5 ways to get into the US:

1. Sponsorship by a direct relative who is either a US citizen or has a green card.
2. $500k investment in a regional centre. By the time you add brokers fees etc, this can amount to nearer $550k (EB5 visa)
3. Buy a business, employ two US residents and work and live out there under the E2 visa. This NEVER leads to a green card and you will be deported if the business is not proven to profitable. Under E2, you are assessed every 2 years and can be deported dependant upon the mood of the embassy official that day! This is a rubbish way in but really the only hope for us Brits.
4. Be sent out there by an existing employer as an inter-company transfer - L visa.
5. Get a job sponsorship from a US company - this is virtually impossible as the company would have to prove to the federal gov that a US citizen could not do the job and that a Brit was required.

So, as mentioned by another blogger, it is virtually impossible to get in. How do I know? I've been trying for almost ten years.

As for Canada and Aus, really not sure. I think they are both similarly difficult to get into. if anyone has any more knowledge I'd be hugely grateful.... anywhere but this miserable sodding little island!!!!

Thursday, October 15, 2009 08:30PM Report Comment

16. Imminent_plunge said...

Have a US passport :-)

Thursday, October 15, 2009 08:58PM Report Comment

17. tick tock said...

stillthinking - You have wise friends.

The problem is, its easier to read bourgeois reviews of Marx than it is to read what he actually said. You don't have to agree with the (often extremely warped) interpretations of his work, and don't have to be a Red, to appreciate the insight into the workings of Capitalism that is offered within Das Capital.
Marx's conclusions may not be to everyones taste, but his understanding of 'the problem' is as relevant today as then.

Thursday, October 15, 2009 09:13PM Report Comment

18. crash bandicoot said...

vindicated, do they still run the green card raffle? For $20 a year you could enter a raffle for a green card, or was that a scam?

Thursday, October 15, 2009 10:21PM Report Comment

19. rumble said...

"And people there are saying the same things here ie/ Many want to leave Sydney because they think the U.K is affordable!!"

Lol, that's because they pile so many into a flat!

Thursday, October 15, 2009 10:40PM Report Comment

20. fallingbuzzard said...

Alan, I think the inflationary effect (25% to 30% on imports) of the sudden currency devaluation in 2008 fed through in the first three quarters of this year and we've hardly seen it at all. It shows how bad the underlying deflationary pressure is. For mid October onwards the £ is stronger than it was last year (forget about the previous level of the £) so the underlying effect is for import prices to fall. A perfect time to reintroduce VAT, the removal of which was an utter waste of time.

Thursday, October 15, 2009 11:52PM Report Comment

21. Davepage said...

@crash -- they do still have the green card raffle: but only for countries with low net migration to the US. Thus, if you're British, you are barred from application. If, however, you are from Iran -- a country the US is getting-up the will to war on -- then you are welcome to apply (ditto Afghanistane, Cuba etc.). Special relationship indeed/

I am also after leaving this wretched country -- if I could get a visa, I would leave tomorrow

Friday, October 16, 2009 12:37AM Report Comment

22. drewster said...

There are other countries to emigrate to, not just America and Down Under! We have the right to live and work across Europe. It's not that hard to learn a language if you really put your mind to it. Houses are cheap as chips in Belgium, Germany, and Spain; Finland is reasonably affordable too. Eastern Europe is particularly cheap, although salaries are low too. (I'm yearning for a ski chalet in the Slovenian alps.) You could survive in a multilingual city like Brussels without much French or Dutch, yet still be only a couple of hours from family & friends in the UK. They even have BBC TV in Belgium.

@crash bandicoot,
British-born people aren't eligible for the green card lottery (Northern Ireland-born are still accepted).

Friday, October 16, 2009 12:53AM Report Comment

23. vindicated said...

@crash bandicoot
What Drewster said. Brits are not eligible for the Green Card Lottery. This is always subject to change but unlikely. Apparently too many Brits enter the US by other means. (I'd love to know how!!!)

Friday, October 16, 2009 09:00AM Report Comment

24. wiltshire said...

@vindicated, what about marriage?

Friday, October 16, 2009 09:49AM Report Comment

25. europeanbear said...

imminant plunge....US passport is fine - I have one too...but if you do not do their taxes (and I did not for 45 years), then you will not get immigration visas for none US family members (eg the wife), and if you are single, you will get a nasty surprise from the IRS when you get there....I know - I had a great job offer, but could not take it up as I had not kept up with US tax returns (well actually I am British...I just had a Boris Johnson moment and happen to have a US birth certificate).
Switzerland is much better - more civilised, great infrastructure and even property prices per square meter are cheaper than the UK....and even winter is fun

Friday, October 16, 2009 10:42AM Report Comment

26. vindicated said...


Is that a proposal?????? ;o)

Yes, mariage is another option but kind of immoral unless you actually like the person!

Friday, October 16, 2009 03:35PM Report Comment

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of
  • Please adhere to the Guidelines
Admin Password
Email Address

Main Blog | Archive | Add Article | Blog Policies