NY Times: UK to seek IMF assistance????
Discussion
http://www.nytimes.com/2009/04/15/business/economy...
Times is usually pretty conservative on such pronouncements
Times is usually pretty conservative on such pronouncements
This has been in the pipeline for a few weeks IIRC there was talk by Handy Mandy that it was not a problem nor any shame for countries looking to the IMF for help, so softening us up for the hit.
I guess it shows just how much money the scum have p***ed away really doesn't it in the short time they've been in power...
I guess it shows just how much money the scum have p***ed away really doesn't it in the short time they've been in power...
Sheets Tabuer said:
Doubt it, in one foul swoop labour would ruin any chance they have of ever being voted back in again.
To seek IMF assistance both times you are in power would kill off the party.
People have short memories. If the worst comes after the election then it'll all be the tory's fault. If not, after two terms everyone will be bored of them and want 'change'.To seek IMF assistance both times you are in power would kill off the party.
Whenever I hear the name George Soros, I always feel he is just trying to maneuver things so he can shaft us again. If you look at Sterling’s exchange rate with the US$ and the Euro over the last week, it has firmed up somewhat. So I guess the other currency traders and speculators haven’t bought into an IMF "bailout" just yet.
RDMcG said:
http://www.nytimes.com/2009/04/15/business/economy...
Times is usually pretty conservative on such pronouncements
Times is usually pretty conservative on such pronouncements
Te Times has been "outed" so many times for outright lies that it is not even funny anymore. I digress, sorry....back to your topic. 
Jasandjules said:
Sheets Tabuer said:
To seek IMF assistance both times you are in power would kill off the party.
I don't think people in the main are that bright, nor even realise the implications of what is being suggested........It may well come to that, particularly if Labour is re-elected at the next election.
This may be a global crises but there were concerns about Government finances well before this. Despite a booming economy the UK had a high structural deficit going into this crises (I.E. after excluding the effects of the economic cycle).
Having used the good times to ramp up spending, and debt, we now have little room for manoeuvre. However wins the next election will have to take drastic measures to bring the public finances back in control.
This may be a global crises but there were concerns about Government finances well before this. Despite a booming economy the UK had a high structural deficit going into this crises (I.E. after excluding the effects of the economic cycle).
Having used the good times to ramp up spending, and debt, we now have little room for manoeuvre. However wins the next election will have to take drastic measures to bring the public finances back in control.
garyhun said:
Jasandjules said:
Sheets Tabuer said:
To seek IMF assistance both times you are in power would kill off the party.
I don't think people in the main are that bright, nor even realise the implications of what is being suggested........There's no "heart" about it - most of the working population is effectively bribed by the government because it's on the welfare take or employed in the public sector.
Britain will default on its debt. Its Triple-A rating remains through no other reason than that downgrading British debt would be catastrophic to lenders the world over. Those lenders are also the primary clients of the ratings agencies. There are no objective, quantifiable metrics to support a Triple-A rating. Over-rating will not stop the inevitable - it can't.
At the time, Mr. Callaghan delivered an assessment of Britain’s finances that resonates today.
”We have been living on borrowed time,” he said. “We used to think you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candor that that option no longer exists.”
hmm, spending our way out of recession - sound familiar?
”We have been living on borrowed time,” he said. “We used to think you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candor that that option no longer exists.”
hmm, spending our way out of recession - sound familiar?Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff