If Britain was Greece
Discussion
One for the lefties who deny the need to cut the deficit before the σκατά really hits the fan...
"PM" on Radio 4 has just replayed an eye opening comparison between us and the Greeks. Apparently done in February, which I missed - and even worse now - it's frightening! Covers stuff like unemployment rates, salaries, benefits, pensions, cost of living including petrol etc. and says what the levels/figures would be if we were in the same position.
Well worth catching on their website (approx. 23 mins in) for anyone who missed it.
"PM" on Radio 4 has just replayed an eye opening comparison between us and the Greeks. Apparently done in February, which I missed - and even worse now - it's frightening! Covers stuff like unemployment rates, salaries, benefits, pensions, cost of living including petrol etc. and says what the levels/figures would be if we were in the same position.
Well worth catching on their website (approx. 23 mins in) for anyone who missed it.
king problem.
IF we were greece? IF?
We have similar deficits. FAR higher debts when all private and public are considered.
Our youth unemployment is similar once you strip out all the people we shove off to uni to do non-degrees, and the fact our kids now have to stay on till 18.
Inflation is higher in the UK than any other G7 nation.
The one difference here is enough morons in charge of pension funds and banks actually believe Camerons plan can work. When they finally realize thats BS, and the pound is actually toast, not just a bit toast, Greece will look pleasant compared to here.
Just look at last summers riots. Over a non-issue. Some pond life thug getting what was coming to him. When peoples benefits checks suddenly buy nothing because the currency has been inflated away, then the fun starts.
We have similar deficits. FAR higher debts when all private and public are considered.
Our youth unemployment is similar once you strip out all the people we shove off to uni to do non-degrees, and the fact our kids now have to stay on till 18.
Inflation is higher in the UK than any other G7 nation.
The one difference here is enough morons in charge of pension funds and banks actually believe Camerons plan can work. When they finally realize thats BS, and the pound is actually toast, not just a bit toast, Greece will look pleasant compared to here.
Just look at last summers riots. Over a non-issue. Some pond life thug getting what was coming to him. When peoples benefits checks suddenly buy nothing because the currency has been inflated away, then the fun starts.
12gauge said:
IF we were greece? IF?
We have similar deficits. FAR higher debts when all private and public are considered.
Our youth unemployment is similar once you strip out all the people we shove off to uni to do non-degrees, and the fact our kids now have to stay on till 18.
Inflation is higher in the UK than any other G7 nation.
The one difference here is enough morons in charge of pension funds and banks actually believe Camerons plan can work. When they finally realize thats BS, and the pound is actually toast, not just a bit toast, Greece will look pleasant compared to here.
Just look at last summers riots. Over a non-issue. Some pond life thug getting what was coming to him. When peoples benefits checks suddenly buy nothing because the currency has been inflated away, then the fun starts.
Is your back up plan revealed in your user name perchance?We have similar deficits. FAR higher debts when all private and public are considered.
Our youth unemployment is similar once you strip out all the people we shove off to uni to do non-degrees, and the fact our kids now have to stay on till 18.
Inflation is higher in the UK than any other G7 nation.
The one difference here is enough morons in charge of pension funds and banks actually believe Camerons plan can work. When they finally realize thats BS, and the pound is actually toast, not just a bit toast, Greece will look pleasant compared to here.
Just look at last summers riots. Over a non-issue. Some pond life thug getting what was coming to him. When peoples benefits checks suddenly buy nothing because the currency has been inflated away, then the fun starts.
Lost_BMW said:
12gauge said:
IF we were greece? IF?
We have similar deficits. FAR higher debts when all private and public are considered.
Our youth unemployment is similar once you strip out all the people we shove off to uni to do non-degrees, and the fact our kids now have to stay on till 18.
Inflation is higher in the UK than any other G7 nation.
The one difference here is enough morons in charge of pension funds and banks actually believe Camerons plan can work. When they finally realize thats BS, and the pound is actually toast, not just a bit toast, Greece will look pleasant compared to here.
Just look at last summers riots. Over a non-issue. Some pond life thug getting what was coming to him. When peoples benefits checks suddenly buy nothing because the currency has been inflated away, then the fun starts.
Is your back up plan revealed in your user name perchance?We have similar deficits. FAR higher debts when all private and public are considered.
Our youth unemployment is similar once you strip out all the people we shove off to uni to do non-degrees, and the fact our kids now have to stay on till 18.
Inflation is higher in the UK than any other G7 nation.
The one difference here is enough morons in charge of pension funds and banks actually believe Camerons plan can work. When they finally realize thats BS, and the pound is actually toast, not just a bit toast, Greece will look pleasant compared to here.
Just look at last summers riots. Over a non-issue. Some pond life thug getting what was coming to him. When peoples benefits checks suddenly buy nothing because the currency has been inflated away, then the fun starts.
12gauge said:
IF we were greece? IF?
We have similar deficits. FAR higher debts when all private and public are considered.
One issue everyone forgets. Unlike Spain, Ireland, Portugal and Greece, the UK has a massive stock of debt but is set apart because it also has a massive stock of valuable assets. We have similar deficits. FAR higher debts when all private and public are considered.
The media take great pleasure reporting one but not the other. That's most of the reasons we kept our AAA while France lost theirs.
_Al_ said:
One issue everyone forgets. Unlike Spain, Ireland, Portugal and Greece, the UK has a massive stock of debt but is set apart because it also has a massive stock of valuable assets.
The media take great pleasure reporting one but not the other. That's most of the reasons we kept our AAA while France lost theirs.
The other difference is compared with most European countries we have an advanced private pension system. It's not perfect but many of them have nothing like it. Over the next few years this will make a difference.The media take great pleasure reporting one but not the other. That's most of the reasons we kept our AAA while France lost theirs.
_Al_ said:
One issue everyone forgets. Unlike Spain, Ireland, Portugal and Greece, the UK has a massive stock of debt but is set apart because it also has a massive stock of valuable assets.
The media take great pleasure reporting one but not the other. That's most of the reasons we kept our AAA while France lost theirs.
What would these assets be, for example?The media take great pleasure reporting one but not the other. That's most of the reasons we kept our AAA while France lost theirs.
CDP said:
_Al_ said:
One issue everyone forgets. Unlike Spain, Ireland, Portugal and Greece, the UK has a massive stock of debt but is set apart because it also has a massive stock of valuable assets.
The media take great pleasure reporting one but not the other. That's most of the reasons we kept our AAA while France lost theirs.
The other difference is compared with most European countries we have an advanced private pension system. It's not perfect but many of them have nothing like it. Over the next few years this will make a difference.The media take great pleasure reporting one but not the other. That's most of the reasons we kept our AAA while France lost theirs.
Though there do seem to be a couple of surprises/contradictions in the 'story' given?
Saw that show when it was originally aired, sensationalist rubish. The tone was similar to what you get in the daily mail.
There were plenty of "facts" which reminded me of the story about greek porshe owners
http://www.bbc.co.uk/news/magazine-17702226
There were plenty of "facts" which reminded me of the story about greek porshe owners
http://www.bbc.co.uk/news/magazine-17702226
acer12 said:
Saw that show when it was originally aired, sensationalist rubish. The tone was similar to what you get in the daily mail.
There were plenty of "facts" which reminded me of the story about greek porshe owners
http://www.bbc.co.uk/news/magazine-17702226
Saw which show?There were plenty of "facts" which reminded me of the story about greek porshe owners
http://www.bbc.co.uk/news/magazine-17702226
anonymous said:
[redacted]
uk households net worth.uk household debt is about 1.7tr, physical assets 3.9tr, financial assets 4.7tr, net worth 6.9tr, or
265k per household on average.
even if you think the housing mkt is 50% over valued and strip out the npv of public sector pensions from financial assets, uk households are still net worth 3 times the national debt. a massive chunk of those financial assets are held directly or indirectly in the FTSE, which in turn has enormous foreign earnings and assets...
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