There are none who can "save" the UK.
Discussion
Sorry all, face the truth.
Or, describe to me a course of action that will mean the UK will become a self supporting Nation.
"Cutting benefits and the Public Sector", is not a course that any of the current major Parties will be able to do in any meaningful way.
Nor will any be able to galvanise citizens to become thrusting entrepreneurs.
Or, describe to me a course of action that will mean the UK will become a self supporting Nation.
"Cutting benefits and the Public Sector", is not a course that any of the current major Parties will be able to do in any meaningful way.
Nor will any be able to galvanise citizens to become thrusting entrepreneurs.
The bond market. You can only spend what people will lend you.
I used to think if there was reincarnation, I wanted to come back as
the President or the Pope or a .400 baseball hitter. But now I want
to come back as the bond market. You can intimidate everyone.
--James Carville, February 1993
I used to think if there was reincarnation, I wanted to come back as
the President or the Pope or a .400 baseball hitter. But now I want
to come back as the bond market. You can intimidate everyone.
--James Carville, February 1993
Fittster said:
The bond market. You can only spend what people will lend you.
I used to think if there was reincarnation, I wanted to come back as
the President or the Pope or a .400 baseball hitter. But now I want
to come back as the bond market. You can intimidate everyone.
--James Carville, February 1993
Yet still, with all the "off balance sheet" and unfunded stuff, known to all, they get the issues away.I used to think if there was reincarnation, I wanted to come back as
the President or the Pope or a .400 baseball hitter. But now I want
to come back as the bond market. You can intimidate everyone.
--James Carville, February 1993
Problem is, as we know, too much is now enshrined in law, with the EU court of human rights able to override any national decision.
The UK population, as a whole, will not be prepared to accept the consequences of "living within our means".
Too many live by monthly payments, as does Government by monthly borrowing.
Just how will any Government be able to positively finance the future obligations?
By paying whatever the market demands, will be the approach.
Because that just always moves real decisions into the future.
WhoseGeneration said:
Sorry all, face the truth.
Or, describe to me a course of action that will mean the UK will become a self supporting Nation.
"Cutting benefits and the Public Sector", is not a course that any of the current major Parties will be able to do in any meaningful way.
Nor will any be able to galvanise citizens to become thrusting entrepreneurs.
Are you suggesting that individuals, companies and the government should live/operate without debt?Or, describe to me a course of action that will mean the UK will become a self supporting Nation.
"Cutting benefits and the Public Sector", is not a course that any of the current major Parties will be able to do in any meaningful way.
Nor will any be able to galvanise citizens to become thrusting entrepreneurs.
WhoseGeneration said:
Fittster said:
The bond market. You can only spend what people will lend you.
I used to think if there was reincarnation, I wanted to come back as
the President or the Pope or a .400 baseball hitter. But now I want
to come back as the bond market. You can intimidate everyone.
--James Carville, February 1993
Yet still, with all the "off balance sheet" and unfunded stuff, known to all, they get the issues away.I used to think if there was reincarnation, I wanted to come back as
the President or the Pope or a .400 baseball hitter. But now I want
to come back as the bond market. You can intimidate everyone.
--James Carville, February 1993
Problem is, as we know, too much is now enshrined in law, with the EU court of human rights able to override any national decision.
The UK population, as a whole, will not be prepared to accept the consequences of "living within our means".
Too many live by monthly payments, as does Government by monthly borrowing.
Just how will any Government be able to positively finance the future obligations?
By paying whatever the market demands, will be the approach.
Because that just always moves real decisions into the future.
"British government debt is already trading at prices that suggest it has lost its prized top credit rating, heightening concerns that investors already view gilts as less than triple A-rated assets and demand greater rewards for holding them.
Since the end of November, the gap between the interest rate Britain and Germany must pay on 10-year government debt has risen from 0.35 percentage points to 0.9 points.
British government bond yields – the cost of servicing government borrowing – have risen above those of Italy for the first time since mid-2008. Britain has to pay much more to borrow than other triple A-rated economies such as Germany, France and the US.
And the UK’s yields are also only a fraction lower than those of Portugal, seen as the weakest eurozone economy after Greece.
Market uncertainty has risen as the Tory opinion poll lead has narrowed, raising the prospects of a hung parliament and questions about whether a weak government could successfully tackle Britain’s deficit.
The Treasury argues that a formal downgrade is unwarranted. “Nobody expects Britain to be downgraded before the election,” said one official. But it has been a firmly held belief in the Treasury that market moves would precede a downgrade by ratings agencies
http://www.ft.com/cms/s/0/f14fb952-249e-11df-8be0-...
The bond market will clip the wings of any government who get to far into debt.
ewenm said:
"Self-supporting"? What does that mean? No international trade? No international debt?
I think it means initially a more balanced economy, one with more substance - i.e. exporting more than is imported. However if this cannot happen as WG suggests then the country would have to become more self supporting. Less imports because of the loss of value of the currency (as if a country has nothing to offer the currency will suffer appropriately).Currently the economy has been supported by last years QE funny money and attempts to sustain the housing bubble...
I think the possibility of huge collapse is real, if only because of the current levels of incompetence of those managing things.
3 headlines this morning:
'Growth revised to + .3%'
'UK economy 'improving''
'Sterling slides on fears over economy.'
Now if that doesn't tell you that none of those with influence and effect have the first clue about what is happening or what to do about it, nothing will.
And yet on they go, protecting their own short term interests, the lot of them.
Scum.
3 headlines this morning:
'Growth revised to + .3%'
'UK economy 'improving''
'Sterling slides on fears over economy.'
Now if that doesn't tell you that none of those with influence and effect have the first clue about what is happening or what to do about it, nothing will.
And yet on they go, protecting their own short term interests, the lot of them.
Scum.
[quote=FittsterThe bond market has already reacted to a possibility of the Government continuing to finance a huge welfare state with money it doesn't have:
Since the end of November, the gap between the interest rate Britain and Germany must pay on 10-year government debt has risen from 0.35 percentage points to 0.9 points.
The bond market will clip the wings of any government who get to far into debt.
[/quote]
Not necessarily a reflection on ability to pay. It may be more to do with FX expectations.
Since the end of November, the gap between the interest rate Britain and Germany must pay on 10-year government debt has risen from 0.35 percentage points to 0.9 points.
The bond market will clip the wings of any government who get to far into debt.
[/quote]
Not necessarily a reflection on ability to pay. It may be more to do with FX expectations.
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff