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Credit Crunch
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Sherwood


Posts: 1,355
Joined: Mar 2005
Post: #1
14-10-2008 10:05 PM

Our PM (GB) has come up with a masterplan. I think he is going to collect ?20,000 from each of us taxpayers to bail out City bankers who have been earning ?million bonuses.
The man is a genius!
Why can't anyone else come up with brilliant ideas like this?

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Johnc


Posts: 138
Joined: Jan 2007
Post: #2
15-10-2008 09:03 AM

Credit crunch - I thought that was the new breakfast cereal!

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Baboonery


Posts: 581
Joined: Sep 2007
Post: #3
15-10-2008 10:22 AM

Because nobody else is actually in the job with difficult decisions to make, rather than spouting about it on internet forums?

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Ghis


Posts: 321
Joined: Jan 2007
Post: #4
15-10-2008 12:45 PM

And most people spouting about it on internet forums or leaving comments on news sites have actually no understanding of the actual situation, how finance and liquidity of the markets work, how government policies impact economics etc.

It is funny how it is only the banks faults. Surely a government encouraging irrational borrowing and consumers who decide to live well above their means should share some of the blame too?

Greed is shared amongs all levels of society, from the quants fabricating value to the sub prime borrower deciding to go for that mortgage deal that surely looks too good to be true.

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Dotcom


Posts: 39
Joined: Apr 2005
Post: #5
15-10-2008 03:30 PM

It's interesting how the country is being run without people knowing how it is actually being run. In my very humble opinion.

I could go on about people living beyond their means and banks and government offices condoning it, but I'll probably get a slating. There's a very very deep lesson to all here.

Dotcom - worrying for the economy.

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roz


Posts: 1,793
Joined: Mar 2005
Post: #6
15-10-2008 10:48 PM

I don't actually think GB had any choice but to take this course of action. The main objective was to free up access to credit without which no economy can function at even the most basic level and this has been done however what happens next is out of his hands. In theory nationalisation of banks gives the tax payer a stake in its fortune either way- its a gamble but one which is probably likely to pay off in the long term especially as the Government now has a say in how the banks are run. And why stop here- if Gordon has any sense he will seize the opportunity to grab back the energy companies at cost and install some semblance of an energy policy.

What I don't understand is how this money was so quickly produced when needed- from which budget has it come? The war chest? I don't see this being discussed anywhere at the moment.

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Baboonery


Posts: 581
Joined: Sep 2007
Post: #7
16-10-2008 12:22 AM

Borrowing. There'll be payback coming. The Irish budget was yesterday: have a butchers at what that looked like for a glimpse of our future...

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brian


Posts: 2,002
Joined: Apr 2005
Post: #8
20-10-2008 03:29 PM

Yes not happy that Alistair wants to borrow out of trouble. It has to be paid back in the future.
They should use this opportunity to cut back on the benifit culture. Approx 5 million not in work.
Also stop now the public sector featherbedded pensions . They are a liability for the country.
It amazes me that benifits are going up 6% , how many people working for the private sector will get an increase at all.

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sandy


Posts: 189
Joined: Oct 2006
Post: #9
20-10-2008 08:16 PM

Why attack the mass of those, who are not in general high earners, for having the chance of a reasonable living standard after full-time work when it would be better to campaign for everyone to have the same rights? I really can't understand the idea that because some are disadvantaged that we should all be, rather than working towards making all better off. It's attacking the wrong target, in my view, and exactly what the various powers-that-be, public and private, can comfort themselves with observing - those without access to influence over their lives attacking each other instead of them.

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roz


Posts: 1,793
Joined: Mar 2005
Post: #10
20-10-2008 09:33 PM

Educate me, I'm still mystified. We are borrowing this money from whom,exactly? And how given that its so hard to get hold of these days. And where does the Government keep its stocks of cash- Government Bonds? If so how do they work.

Answers on a postcard please.....

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Sherwood


Posts: 1,355
Joined: Mar 2005
Post: #11
21-10-2008 08:45 PM

I don't know where we are borrowing from. But I can guess who will be paying.

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