Finally, the banks begin to speak out against mentallist GB
Discussion
http://www.thisismoney.co.uk/news/article.html?in_...
Taken far too long to happen.
Hopefully more will go public and explain in clear terms why Brown is a mental Trotsky who has taken us to the brink of destruction in 10 years and seems hell bent on ensuring we go over.
Taken far too long to happen.
Hopefully more will go public and explain in clear terms why Brown is a mental Trotsky who has taken us to the brink of destruction in 10 years and seems hell bent on ensuring we go over.
Horse_Apple said:
http://www.thisismoney.co.uk/news/article.html?in_...
Taken far too long to happen.
Hopefully more will go public and explain in clear terms why Brown is a mental Trotsky who has taken us to the brink of destruction in 10 years and seems hell bent on ensuring we go over.
It always was a non starter unless he was going for total privatisation.Taken far too long to happen.
Hopefully more will go public and explain in clear terms why Brown is a mental Trotsky who has taken us to the brink of destruction in 10 years and seems hell bent on ensuring we go over.
You can't force people to lend and expect them to offer attractive rates to savers - totally screwed up!
Why aren't we encouraging people to STOP borrowing anyway? Too much mending/borrowing is what got us in this mess in the first place. If we're going to move toward a more stable money system, lending and borrowing need to be prudent, and the mindset of spending what you don't have needs to be eradicated.
BJG1 said:
Why aren't we encouraging people to STOP borrowing anyway? Too much mending/borrowing is what got us in this mess in the first place. If we're going to move toward a more stable money system, lending and borrowing need to be prudent, and the mindset of spending what you don't have needs to be eradicated.
Because the only thing that kept Gordon's project on track was people spending a lot ( whether they could afford to or not)... and, as the present problem is not of GB's making,rather an international issue 
,why should he be deflected from his path... (I'm being sarcastic if you didn't notice...
)It's going to take an awful long time for the consumers to "soak up" the luxury items filling the shelves and warehouses as there simply isn't the ready cash around, and now there's no credit either. Manufacturing globally will have to massively reduce production and along with it product development or the "now" items will never sell. A sharp lesson is being learned by consumers and suppliers alike and many from both sides will go to the wall one way or another. There''s no short cut and definitely no painless way out.
Problems is there are alot of people who will lap up the nonsense that spouts from Labout's propaganda machine. An example of:
BBC website said:
The government should introduce a law which says all Bank of England rate cuts must be passed on by the banks
Doris, Manchester
Yeah, best stick with the home economics eh?. R3tards.Doris, Manchester
BJG1 said:
...and the mindset of spending what you don't have needs to be eradicated.
Thats a can of worms. Do you have a mortgage? Most people (99.9%) have homes bought using borrowed money (mortgage) as they "don't have" the funds to buy the house outright. Likewise a car.Who's to say what "spending what you dont have" actually is.
To the man able to buy his house outright without the need for a mortgage the rest of us might be "spending what we dont have".
Edited by im on Friday 5th December 11:20
im said:
BJG1 said:
...and the mindset of spending what you don't have needs to be eradicated.
Thats a can of worms. Do you have a mortgage? Most people (99.9%) have homes bought using borrowed money (mortgage) as they "don't have" the funds to buy the house outright. Likewise a car.Who's to say what "spending what you dont have" actually is.
To the man able to buy his house outright without the need for a mortgage might consider the rest of us to be "spending what we dont have".
MikeyT said:
Okay, so can someone in the banking industry please tell what SHOULD happen then? Interest rates, LIBOR rates etc. What SHOULD they Govt. be doing in this credit crunch cos I don't know ...
I think it's called every man for himself and devil take the hindmost.A sort of 21st century Black Death.
Utterly frightening and really no hope in sight.
Not wishing to offend any Labour supporters it's now "Things can only get worse".
S3_Graham said:
i dont understand how spending money can get you out of a recession.. surely.. when im low on money.. i dont spend... i save... so.. err he is suggesting i go out and spend all my money??
The point is that if everyone spends it will stimulate commerce which in turn creates jobs and money which stimulates the whole economy and brings us out of recession.Recessions are self perpetuating to an extent in that when the economy is gloomy -even those with money hang on to it 'just incase' which stifles commerce who in turn make people redundant etc etc
esselte said:
im said:
BJG1 said:
...and the mindset of spending what you don't have needs to be eradicated.
Thats a can of worms. Do you have a mortgage? Most people (99.9%) have homes bought using borrowed money (mortgage) as they "don't have" the funds to buy the house outright. Likewise a car.Who's to say what "spending what you dont have" actually is.
To the man able to buy his house outright without the need for a mortgage might consider the rest of us to be "spending what we dont have".
And also, sometimes things that were affordable suddenly become unaffordable - big/unexpected interest rate hikes etc.
Like I say - its a complex issue.
TWSTEEL said:
MikeyT said:
Okay, so can someone in the banking industry please tell what SHOULD happen then? Interest rates, LIBOR rates etc. What SHOULD they Govt. be doing in this credit crunch cos I don't know ...
I think it's called every man for himself and devil take the hindmost.A sort of 21st century Black Death.
Utterly frightening and really no hope in sight.
Not wishing to offend any Labour supporters it's now "Things can only get worse".
[AJ] said:
TWSTEEL said:
MikeyT said:
Okay, so can someone in the banking industry please tell what SHOULD happen then? Interest rates, LIBOR rates etc. What SHOULD they Govt. be doing in this credit crunch cos I don't know ...
I think it's called every man for himself and devil take the hindmost.A sort of 21st century Black Death.
Utterly frightening and really no hope in sight.
Not wishing to offend any Labour supporters it's now "Things can only get worse".
With the service sector making up 75% of UK economic output and rapidly contracting, along with the massive downturn in UK manufacturing and construction, there simply is no way to spend our way out of recession. It's all been too little too late unless some idiot decides on territorial expansion and off we go to World War Three.
The bulls##t the media spews out has SO much to answer for. The amount of people I hear every day spitting out what was on the news the previous night like parrots drives me mad!! Everyone is a supposed expert when quite clearly they are not.
I think we need to put our 'crisis' into context, we are in trouble, we will get out of it, it has happened before and it will happen again. Your health is far more important. Past generations have had it far worse than we can ever imagine and many millions around the world are in deep poverty.
Rant over..
I think we need to put our 'crisis' into context, we are in trouble, we will get out of it, it has happened before and it will happen again. Your health is far more important. Past generations have had it far worse than we can ever imagine and many millions around the world are in deep poverty.
Rant over..
joscal said:
The bulls##t the media spews out has SO much to answer for. The amount of people I hear every day spitting out what was on the news the previous night like parrots drives me mad!! Everyone is a supposed expert when quite clearly they are not.
I think we need to put our 'crisis' into context, we are in trouble, we will get out of it, it has happened before and it will happen again. Your health is far more important. Past generations have had it far worse than we can ever imagine and many millions around the world are in deep poverty.....
....and we're about to join them.I think we need to put our 'crisis' into context, we are in trouble, we will get out of it, it has happened before and it will happen again. Your health is far more important. Past generations have had it far worse than we can ever imagine and many millions around the world are in deep poverty.....
stigmundfreud said:
joscal said:
The bulls##t the media spews out has SO much to answer for. The amount of people I hear every day spitting out what was on the news the previous night like parrots drives me mad!! Everyone is a supposed expert when quite clearly they are not.
I think we need to put our 'crisis' into context, we are in trouble, we will get out of it, it has happened before and it will happen again. Your health is far more important. Past generations have had it far worse than we can ever imagine and many millions around the world are in deep poverty.....
....and we're about to join them.I think we need to put our 'crisis' into context, we are in trouble, we will get out of it, it has happened before and it will happen again. Your health is far more important. Past generations have had it far worse than we can ever imagine and many millions around the world are in deep poverty.....
blindswelledrat said:
S3_Graham said:
i dont understand how spending money can get you out of a recession.. surely.. when im low on money.. i dont spend... i save... so.. err he is suggesting i go out and spend all my money??
The point is that if everyone spends it will stimulate commerce which in turn creates jobs and money which stimulates the whole economy and brings us out of recession.Recessions are self perpetuating to an extent in that when the economy is gloomy -even those with money hang on to it 'just incase' which stifles commerce who in turn make people redundant etc etc
They should stimulate growth fiscally by cutting the base rate of income tax, and sorting out the benefit scum.
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