Britain Bankrupt
Discussion
Interesting video link from the 'Around the web'section of PH today. Maybe stick the kettle on if you intend to watch all of it.
http://pro.moneyweek.com/myk-eob-tpr-cut/PMYKPA01/...
First question:
Is this a balanced arguement? Is the end of the world as we know it really this close.
Second (longwinded) question:
I like to think that I take an avid interest in the state of the economy given that the success of my career largely depends on it like many others. That said, it’s a minefield! I find trying to cut through facts that are often put forward as part of politically biased argument rather than presenting a balanced view is incredibly challenging. It would be really nice to find a resource that is 100% non-political so I could try to better understand. The finance system is incredibly complex and there are many different interpretations of the parameters but surely there is a resource out there that gets close to reporting the truth?
http://pro.moneyweek.com/myk-eob-tpr-cut/PMYKPA01/...
First question:
Is this a balanced arguement? Is the end of the world as we know it really this close.
Second (longwinded) question:
I like to think that I take an avid interest in the state of the economy given that the success of my career largely depends on it like many others. That said, it’s a minefield! I find trying to cut through facts that are often put forward as part of politically biased argument rather than presenting a balanced view is incredibly challenging. It would be really nice to find a resource that is 100% non-political so I could try to better understand. The finance system is incredibly complex and there are many different interpretations of the parameters but surely there is a resource out there that gets close to reporting the truth?
///Mike said:
First question:
Is this a balanced arguement? Is the end of the world as we know it really this close.
Doubtful. They are infamous for their alarmist predictions. like all the best lies/spin/propaganda, it is based on some facts.Is this a balanced arguement? Is the end of the world as we know it really this close.
///Mike said:
?]
Second (longwinded) question:
I like to think that I take an avid interest in the state of the economy given that the success of my career largely depends on it like many others. That said, it’s a minefield! I find trying to cut through facts that are often put forward as part of politically biased argument rather than presenting a balanced view is incredibly challenging. It would be really nice to find a resource that is 100% non-political so I could try to better understand. The finance system is incredibly complex and there are many different interpretations of the parameters but surely there is a resource out there that gets close to reporting the truth?
In it's origin, "media studies" was less a degree in watching TV and more an instructive and ojbective lesson in deciphering the mainstream messages.Second (longwinded) question:
I like to think that I take an avid interest in the state of the economy given that the success of my career largely depends on it like many others. That said, it’s a minefield! I find trying to cut through facts that are often put forward as part of politically biased argument rather than presenting a balanced view is incredibly challenging. It would be really nice to find a resource that is 100% non-political so I could try to better understand. The finance system is incredibly complex and there are many different interpretations of the parameters but surely there is a resource out there that gets close to reporting the truth?
You cannot look to a single definitive source. Probably the best you can do is attempt to cross-examine neews stories through different media. An example I often give is the very different POV on the South African police shooting miners - BBC reported it 'falt' as just that, whereas on Russia Today, they showed footage and provided the further, rather salient piece of information that the miners had, the previous day, machetted to death two police officers.
Online, look at Reuters. You can look at Zerohedge too, although some of their 'news' pieces offer no less sensationalism than moneyw
k.As always. Read as many sources as you can and divide the bullst by the number of sources to achieve an almost balanced view most of the time.
As for are we about to start eating our neighbours wives and clubbing their pets before dragging them home to mate with them. I think it is unlikely. st goes up, st goes down. Over time total levels of st will almost always increase, although a few producers may become constipated.
t by the number of sources to achieve an almost balanced view most of the time.As for are we about to start eating our neighbours wives and clubbing their pets before dragging them home to mate with them. I think it is unlikely. s
t goes up, st goes down. Over time total levels of st will almost always increase, although a few producers may become constipated. If "common sense" rules your mind and not "political correctness", then this country is bankrupt. The supposed nett debt we have allowed the political elite, to build up on our behalf, is currently costing those who pay tax into the kitty roughly one thousand million pounds per week in "Interest Charges Only". i.e. 1 Billion £ per week. This is not reducing the Debt it is only servicing the Interest. Young George tells us he's reducing the 'Debt', but this is only this year's 'Debt', and, again being a negative figure it will be added to the 'Debt' pile of 1.2 Trillion already there.
In the early seventies I was in a meeting, in London, at our U.S. Company HQ.
We were given the previous years results, which were writ large in Red ink. The technical term for this was given to us as "A negative Profit". It is no understatement to say that we thought they were 'away with the Faries'
I have to say that, 40 years on, we now look to have 620+ elected MP's most of whom seem to be 'Away with the Faries'. How on earth we get some semblance of order into the system, and, clear out the 'political correctness' comedians and reinstate good old common sense, for the benefit of all the people in this country, is the real problem that needs addressing.
Since retiring I have had the dubious pleasure of watching "Play School in Parliament" on Wednesday afternoon's on TV. How on earth we allow our elected politicians to act like 7 year old's, in the Mother of Parliament's, is quite shamefull.
Apologies for the rant, 50 years of voting for idiot's has finally got to me.
In the early seventies I was in a meeting, in London, at our U.S. Company HQ.
We were given the previous years results, which were writ large in Red ink. The technical term for this was given to us as "A negative Profit". It is no understatement to say that we thought they were 'away with the Faries'
I have to say that, 40 years on, we now look to have 620+ elected MP's most of whom seem to be 'Away with the Faries'. How on earth we get some semblance of order into the system, and, clear out the 'political correctness' comedians and reinstate good old common sense, for the benefit of all the people in this country, is the real problem that needs addressing.
Since retiring I have had the dubious pleasure of watching "Play School in Parliament" on Wednesday afternoon's on TV. How on earth we allow our elected politicians to act like 7 year old's, in the Mother of Parliament's, is quite shamefull.
Apologies for the rant, 50 years of voting for idiot's has finally got to me.
5Valve said:
If "common sense" rules your mind and not "political correctness", then this country is bankrupt. The supposed nett debt we have allowed the political elite, to build up on our behalf, is currently costing those who pay tax into the kitty roughly one thousand million pounds per week in "Interest Charges Only". i.e. 1 Billion £ per week. This is not reducing the Debt it is only servicing the Interest. Young George tells us he's reducing the 'Debt', but this is only this year's 'Debt', and, again being a negative figure it will be added to the 'Debt' pile of 1.2 Trillion already there.
In the early seventies I was in a meeting, in London, at our U.S. Company HQ.
We were given the previous years results, which were writ large in Red ink. The technical term for this was given to us as "A negative Profit". It is no understatement to say that we thought they were 'away with the Faries'
I have to say that, 40 years on, we now look to have 620+ elected MP's most of whom seem to be 'Away with the Faries'. How on earth we get some semblance of order into the system, and, clear out the 'political correctness' comedians and reinstate good old common sense, for the benefit of all the people in this country, is the real problem that needs addressing.
Since retiring I have had the dubious pleasure of watching "Play School in Parliament" on Wednesday afternoon's on TV. How on earth we allow our elected politicians to act like 7 year old's, in the Mother of Parliament's, is quite shamefull.
Apologies for the rant, 50 years of voting for idiot's has finally got to me.
Lovely eloquent rant. Only let down by the erroneous use of an apostrophe right at the end.In the early seventies I was in a meeting, in London, at our U.S. Company HQ.
We were given the previous years results, which were writ large in Red ink. The technical term for this was given to us as "A negative Profit". It is no understatement to say that we thought they were 'away with the Faries'
I have to say that, 40 years on, we now look to have 620+ elected MP's most of whom seem to be 'Away with the Faries'. How on earth we get some semblance of order into the system, and, clear out the 'political correctness' comedians and reinstate good old common sense, for the benefit of all the people in this country, is the real problem that needs addressing.
Since retiring I have had the dubious pleasure of watching "Play School in Parliament" on Wednesday afternoon's on TV. How on earth we allow our elected politicians to act like 7 year old's, in the Mother of Parliament's, is quite shamefull.
Apologies for the rant, 50 years of voting for idiot's has finally got to me.
9/10
5Valve said:
If "common sense" rules your mind and not "political correctness", then this country is bankrupt. The supposed nett debt we have allowed the political elite, to build up on our behalf, is currently costing those who pay tax into the kitty roughly one thousand million pounds per week in "Interest Charges Only". i.e. 1 Billion £ per week. .
You say you are retired - am I right in thinking you were a Daily Mail journalist?Anyway, despite the horrific figures you are spouting which prove that we are bankrupt, I personally do not think it is as bad as all that.
Here is a historical graph of our debts vs gdp (which as anyone who doesn't want to hysterically alarm people will know is a better gauge than isolated figures)
Amazed that you believe we are bankrupt despite surviving so much worse for such sustained periods historically.
Still, get building that Armageddon shelter eh?
Mr GrimNasty said:
Zod said:
Mr GrimNasty said:
World debt is $7250 on average for each and every man woman child and baby.
Who's the creditor? God? Aliens?Who do all these people need to pay their $7000 to? It doesn't make sense.
Mermaid said:
Whether or not we are bust, Sterling is worth a lot less than the US/CAD/AZ/NZ $'s + the DM that is was a decades ago. Where's the confidence in our currency gone?
The Pound was massively overvalued post-Empire and it took a long time for its value to decline to a more appropriate level. If you look at it in purchasing power parity terms, it is not easy to say that the Pound is weak.graphene said:
As you present it, the graph looks mildly reassuring, but how do and household debt affect the overall picture?
Don't get me wrong, I'm not trying saying we're not in a difficult situation, Im just countering the hysteria suggesting that we are bankrupt based on government borrowings.Like most people on a low wage and priced-out of the housing market, I hung on every word spouted by Money Week for a long time, salivating at the prospect of this inevitable apocalypse that would surely place the earth into the hands of the meek. I have since come to the conclusion that the real answer, for many of us 'have nots', is simply to spend the time we previously spent reading Money Week looking for a better paid job instead.
graphene said:
Zod said:
Mermaid said:
Whether or not we are bust, Sterling is worth a lot less than the US/CAD/AZ/NZ $'s + the DM that is was a decades ago. Where's the confidence in our currency gone?
The Pound was massively overvalued post-Empire and it took a long time for its value to decline to a more appropriate level. If you look at it in purchasing power parity terms, it is not easy to say that the Pound is weak.MitchT said:
Like most people on a low wage and priced-out of the housing market, I hung on every word spouted by Money Week for a long time, salivating at the prospect of this inevitable apocalypse that would surely place the earth into the hands of the meek. I have since come to the conclusion that the real answer, for many of us 'have nots', is simply to spend the time we previously spent reading Money Week looking for a better paid job instead.
hallelujah Brother! Amen, for thou hast seen de light!
I said can I get an AMEN.
There is the old phrase about the harder I train the luckier I get.
Well, the less time I spend looking into the bottom of a teacup and reading about how hard done by I must be and the more time I spend working my arse off the more money I seem to have in the bank...
schmalex said:
5Valve said:
If "common sense" rules your mind and not "political correctness", then this country is bankrupt. The supposed nett debt we have allowed the political elite, to build up on our behalf, is currently costing those who pay tax into the kitty roughly one thousand million pounds per week in "Interest Charges Only". i.e. 1 Billion £ per week. This is not reducing the Debt it is only servicing the Interest. Young George tells us he's reducing the 'Debt', but this is only this year's 'Debt', and, again being a negative figure it will be added to the 'Debt' pile of 1.2 Trillion already there.
In the early seventies I was in a meeting, in London, at our U.S. Company HQ.
We were given the previous years results, which were writ large in Red ink. The technical term for this was given to us as "A negative Profit". It is no understatement to say that we thought they were 'away with the Faries'
I have to say that, 40 years on, we now look to have 620+ elected MP's most of whom seem to be 'Away with the Faries'. How on earth we get some semblance of order into the system, and, clear out the 'political correctness' comedians and reinstate good old common sense, for the benefit of all the people in this country, is the real problem that needs addressing.
Since retiring I have had the dubious pleasure of watching "Play School in Parliament" on Wednesday afternoon's on TV. How on earth we allow our elected politicians to act like 7 year old's, in the Mother of Parliament's, is quite shamefull.
Apologies for the rant, 50 years of voting for idiot's has finally got to me.
Lovely eloquent rant. Only let down by the erroneous use of an apostrophe right at the end.In the early seventies I was in a meeting, in London, at our U.S. Company HQ.
We were given the previous years results, which were writ large in Red ink. The technical term for this was given to us as "A negative Profit". It is no understatement to say that we thought they were 'away with the Faries'
I have to say that, 40 years on, we now look to have 620+ elected MP's most of whom seem to be 'Away with the Faries'. How on earth we get some semblance of order into the system, and, clear out the 'political correctness' comedians and reinstate good old common sense, for the benefit of all the people in this country, is the real problem that needs addressing.
Since retiring I have had the dubious pleasure of watching "Play School in Parliament" on Wednesday afternoon's on TV. How on earth we allow our elected politicians to act like 7 year old's, in the Mother of Parliament's, is quite shamefull.
Apologies for the rant, 50 years of voting for idiot's has finally got to me.
9/10
His spelling is 'shameful'.
Not really, just that one word.
Plus a few other unnecessary apos.
Otherwise agree, being in similar age group, spot on rant!
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