Drink deeply from the Well of nothing-less you Limey Bastards!

[Mega]

Ho Ho Ho
http://www.telegraph.co.uk/finance/c...icit-cuts.html

Here in Blighty i already seen a massive fall off in Big BMW's/Merc's/4X4's........;)
Mike

[D-Mack]

Re: Drink deeply from the Well of nothing-less you Limey Bastards!

The Tories' pre-coalition plans, such as they are, imply a tightening of 4.7pc of GDP by 2015-16 according to the Institute for Fiscal Studies. But even if these proposals end up halving the UK's huge annual deficit over the next five years, the overall stock of national debt still doubles from around £750bn to £1,500bn, resulting in ever-rising sums of taxpayers' money being wasted on interest payments. Coupled with that, of course, there's more than £1,000bn of additional liabilities parked off-balance sheet, related to public sector pensions and the grotesque private finance initiative.

..

Yes, public sector unions will scream blue murder at spending cuts. Certain factions will take to the streets. But that will make most voters even more certain the painful course of action is right. The British people are not fantasists – but that's how our politicians treat us.

..

So what can be done against exponential growth of debts?

[Rajiv]

Re: Drink deeply from the Well of nothing-less you Limey Bastards!

So what can be done against exponential growth of debts?

Exponential Growth? What exponential growth? Unsustainable interest payments? Make your money work for you! No need to exert yourselves like the sweaty riff-raff! Move along now! Nothing to see here! ;)

[thunderdownunder]

Re: Drink deeply from the Well of nothing-less you Limey Bastards!

For starters you could stop this from happening. Who do they think they are a Baltic state. It will end so so badly.
http://business.timesonline.co.uk/to...cle7128313.ece
Fire is so hard to quell - (see the thread on new houses in Vegas)

[xela]

Re: Drink deeply from the Well of nothing-less you Limey Bastards!

In the current system, not a thing. That's how it works. What's so hard to understand. The numbers got silly because it's fiat, confidence is the limit.

Maybe next time sovereign money without interest instead of sovereign debt. Amen? ;)

[hayekvindicated]

Re: Drink deeply from the Well of nothing-less you Limey Bastards!

so what can be done against exponential growth of debts?

emigrate

[shiny!]

Re: Drink deeply from the Well of nothing-less you Limey Bastards!

So what can be done against exponential growth of debts?

Stop letting Banks create money. Banks have been given the authority to create money, which they loan to government at interest. It's impossible to ever pay off the full debt, because the money used to pay it off comes with more interest due at the moment of its creation. We eventually reach debt saturation, when the printing presses run full time and cannot pay the interest due on the debt. We are approaching that point:
http://economicedge.blogspot.com/201...f-century.html

The solution is for governments to create their countries' money again. In the United States, we should abandon Federal Reserve Notes created by the Federal Reserve (a consortium of private banks that don't pay taxes). The government should go back to printing U.S. Treasury Notes again, as the Constitution authorized. The money would go out, get used, get paid back to the government in taxes, and continue to recirculate without racking up interest due.

This is how it used to be before banks convinced governments to let them create the money. The banks promised that if they were allowed to create and control the money supply, we would enjoy economic stability and suffer no more depressions. See how well that worked?

Here's another interesting link: "The Impossible Math of Debt-Backed Money":
http://economicedge.blogspot.com/201...ked-money.html