Government borrowing

[AdeTuono]

Serious question: given that banks are falling over left, right and centre, and countries are doing the same, where the Hell are they all borrowing the money from to bail themselves out?

(Apologies if this has been asked; search is down.)

[dcb]

AdeTuono said:

Serious question: given that banks are falling over left, right and centre, and countries are doing the same, where the Hell are they all borrowing the money from to bail themselves out?

The tax payer.

Expect taxes to rise for the next few years to pay for all this.

Of course, all socialist governments run out of money sooner or later.

Older folks will remember the last time this happened, back in the 1970s,
and Dennis Healey had to go to the IMF for help. Very very embarrassing for
UK Gov at that time, not being able to balance the books.

The outfit in office at the moment haven't got that bad yet, although
they do seem keen to hike taxes in a recession, which won't help them come
next voting time.

[AdeTuono]

dcb said:

AdeTuono said:

Serious question: given that banks are falling over left, right and centre, and countries are doing the same, where the Hell are they all borrowing the money from to bail themselves out?

The tax payer.

Expect taxes to rise for the next few years to pay for all this.

Of course, all socialist governments run out of money sooner or later.

I know we'll all pay eventually, but they're pumping the money in now, so presumably, they're getting it from somewhere. Have they got a secret stash? Given that you don't borrow from yourself, some 3rd party must be chucking it in, surely?

[dilbert]

Didn't you hear, they're extractng the money from used Porsches!

[Soovy]

Scorched Earth policy here.

[AdeTuono]

Someone else has asked pretty much the same thng here.

http://www.pistonheads.com/gassing/topic.asp?h=0&a...