"We can't afford another stimulus package" Mervyn King

[Spiritual_Beggar]

ewenm said:

Fittster said:

JagLover said:

Fittster said:

As if Dave has the balls to fix the problem:

Bear in mind that any Tory commitment to cut spending will be relentlessly demonised by Labour and their helpers in the media.

All Cameron can do is hint at what he will do once in office.

So people should vote for a party who will only vaguley hint about their policies and intentions?

Is it election time? Manifestos are where you show your hand in detail and no-one has produced one of those yet.

That's assuming there will actually be an Election It wouldn't suprise me to see it put back. I've come to expect it from Labour.

[ShadownINja]

HowMuchLonger said:

ShadownINja said:

Will Clown go down in history as Gordon the Gambler?

Gordon has given us stability, so there is no more boom and bust. The economic problems are all due to America/Global Warming/Al Qaeda.

Well, he's certainly ended boom... (Joke stolen from elsewhere.)

[mark_davies]

Really dont think the Conservatives at the moment have the ability to do whats best for the people . At least Gordon is trying , and its possible he did stop something much bigger by this influx of fresh money( well im pretty sure he did anyway )

Lower mortgage rates have saved me from near enough being repossesed so I'll vote him in next time sadly , just dont think DC can or knows how to deal with this problem .

[B17NNS]

^ ^ ^ ^ ^ ^

Burn him!

[AJS-]

Since we couldn't afford any of the previous ones, or indeed any of the other rises in public spending that winky mcfknut and his cohorts have given us over the last decade, it's hardly news that we can't afford another one.

[Vixpy1]

'We can't afford another stimulus package'

Someone should tell his wife that its available on the NHS

[mark_davies]

B17NNS said:

^ ^ ^ ^ ^ ^

Burn him!

[rabw]

mark_davies said:

Really dont think the Conservatives at the moment have the ability to do whats best for the people . At least Gordon is trying , and its possible he did stop something much bigger by this influx of fresh money( well im pretty sure he did anyway )

Lower mortgage rates have saved me from near enough being repossesed so I'll vote him in next time sadly , just dont think DC can or knows how to deal with this problem .

So well done, you have overstretched yourself like many others. I can't stand the ignorance of people who just vote for what suits them in the short term, rather than what is actually right for the country (and probably better for them long term anyway).

[mark_davies]

No , I like the fact that he is trying to help its citizens . Think your getting yourself confused back there , sort it out

BTW my mortgage is now 1penny , I should actually be paid money by the bank but their system doesnt compute or something

[AJS-]

mark_davies said:

Really dont think the Conservatives at the moment have the ability to do whats best for the people . At least Gordon is trying , and its possible he did stop something much bigger by this influx of fresh money( well im pretty sure he did anyway )

Lower mortgage rates have saved me from near enough being repossesed so I'll vote him in next time sadly , just dont think DC can or knows how to deal with this problem .

How can you even think that?

[mondeoman]

mark_davies said:

No , I like the fact that he is trying to help its citizens . Think your getting yourself confused back there , sort it out

BTW my mortgage is now 1penny , I should actually be paid money by the bank but their system doesnt compute or something

Oh purrrleeeease.

Open your eyes and see what damage he is doing to the country..

PFI debt all off balance sheet, no currency strength at all, fked around with CPI/RPI, raided pensions, toothless paper tiger FSA, sold gold and told everyone he was going to.

More public sector workers than private if he had his way.

Labour is a con trick, and you've fallen for it.

[tinman0]

mark_davies said:

Really dont think the Conservatives at the moment have the ability to do whats best for the people . At least Gordon is trying , and its possible he did stop something much bigger by this influx of fresh money( well im pretty sure he did anyway )

There is nothing anyone can do. Right now Gordon Brown is pissing money up a wall at a frightening rate as he's convinced that urine soak wallpaper is the way to go!

This is a market correction. It will solve itself if the Govt just back off and let the markets get back to being a market. If they want to help it along, then the key is tax cuts and reduced spending.

Problem for the Tories if they get power is that even if they do reduce spending, there is still a fkING great big hole in the finances to the tune of £28bn a year as it currently stands. Plus there is the interest on all the bailouts so far of another £20-30bn per annum to deal with. And thats before we look at the £2trillion deficit that we are currently running, and thats before the other £700bn we owe the civil services in retirement benefits.

And then we have Merv today. Not a big fan of the guy personally but when Merv is telling the Govt that we are broke - this should be the biggest fkING alarm bell anyone in their entire lives has ever seen! This guy is politicizing himself, something that he cannot do, and is desperately telling the Govt and the General Public that we are broke.

[ShadownINja]

mark_davies said:

No , I like the fact that he is trying to help its citizens . Think your getting yourself confused back there , sort it out

BTW my mortgage is now 1penny , I should actually be paid money by the bank but their system doesnt compute or something

Don't worry. Your children and your children's children will be paying for it in very high taxes for years and years to come.

[mark_davies]

Would you have wanted to let the banks go bankrupt and all assets taken by foreign investors ? Would you had money to buy off the debt from them investors so you could keep your home ?
Would you have wished to wait and let the thousands of people loose their house and then go into council accomodation paid by us in higher taxes ?

|Every way you look at it theres no good in boom and bust , we know the term and we choose the ignore it ,and i dont mean the goverment us the day to day poeple . We borrowed , we paid over the odds for homes , we bought audi , bmw's and ranger rovers .

And if its not you in person that borrowed like that , your mum , brother, uncle or friends did , would like to see them loose everything they have ?

Edited by mark_davies on Tuesday 24th March 22:50

[mondeoman]

mark_davies said:

Would you have wanted to let the banks go bankrupt and all assets taken by foreign investors ? Would you had money to buy off the debt from them investors so you could keep your home ?
Would you have wished to wait and let the thousands of people loose their house and then go into council accomodation paid by us in higher taxes ?

|Every way you look at it theres no good in boom and bust , we know the term and we choose the ignore it ,and i dont mean the goverment us the day to day poeple . We borrowed , we paid over the odds for homes , we bought audi , bmw's and ranger rovers .

And if its not , your mum or bother or uncle did , would like to see them loose everything they have ?

Whether we wnat them to or not, I think a lot are going to..

People are sheep, lead and htey wilol follow without thinking, and thats what happened here. Silver-toungue Tone led the way, Brawn laid the path right to the door of DEBT and the sheeple followed.

[AJS-]

mark_davies said:

Would you have wanted to let the banks go bankrupt and all assets taken by foreign investors ? Would you had money to buy off the debt from them investors so you could keep your home ?
Would you have wished to wait and let the thousands of people loose their house and then go into council accomodation paid by us in higher taxes ?

|Every way you look at it theres no good in boom and bust , we know the term and we choose the ignore it ,and i dont mean the goverment us the day to day poeple . We borrowed , we paid over the odds for homes , we bought audi , bmw's and ranger rovers .

And if its not , your mum or bother or uncle did , would like to see them loose everything they have ?

Yes I would have liked to have seen those banks that couldn't keep going on their own merits go bust or get bought by healthier competitors. That's how markets work and the more you mess with them the worse you make the inevitable negative consequences of having a corrupted market.

But I would really have liked not to get into this mess in the first place, which was inevitable when he started borrowing to fund current expenditure. Not to mention hiding government borrowing, manipulating inflation figures and pressuring the BoE to pursue an inflationary monetary policy.

Those people who perilously over extended themselves need to correct that. Whether they can sort it out for themselves or whether assets are reposessed, that could be done fairly easily. It is unpleasant, but far less so than debasing the currency and ruining the entire country for generations to come.

[mark_davies]

I trully think it doesnt matter who would have been in power , we would be in the same situation. I really dont blame the goverment for what is happening ( im blaming the goverment for other things ). I blame greedy bankers and people living over their means for this mess , who's great idea was self certification mortgages ?

Edited by mark_davies on Tuesday 24th March 23:04

[esselte]

mark_davies said:

I trully think it doesnt matter who would have been in power , we would be in the same situation. I really dont blame the goverment for what is happening

So you don't think Blair and Brown were happy to see that people were borrowing and spending like there was no tomorrow?After all it was a "boom" time that the gov. could take credit for...what about the role of the regulators in all this...?

[s2art]

mark_davies said:

I trully think it doesnt matter who would have been in power , we would be in the same situation. I really dont blame the goverment for what is happening ( im blaming the goverment for other things ) i blame greedy bankers and people living over their means

You are deluded. NuLab, driven by Brown has pissed taxpayers money away for years now. Had a more prudent government been in charge (see what the Thatcher government did with debt) then we would be in a much stronger position.
I suggest you take a look at John Redwoods blog to see what an intelligent approach would have been to the bank problem.

[mark_davies]

Its all easy now to explain how all this could have been avoided after it happened , I COULD TELL YOU THAT, furthermore I think any 12 year old that would have listend to the news could tell you how all this could have been avoided .It's my opinion that im voicing here nothing more nothing less . I think im capable of seeing things for what they are and no person on the internet will convince me otherwise as long my brain still has some working cells in it

Edited by mark_davies on Tuesday 24th March 23:11