tag:blogger.com,1999:blog-2948538160252327076.post550022460526673812..comments2023-11-02T15:48:50.381+00:00Comments on UK Bubble UK Economy: Turbo-charging the rhetoricAlice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2948538160252327076.post-26720231131385109742011-02-14T00:40:39.805+00:002011-02-14T00:40:39.805+00:00The government should start by slapping a 90% prop...The government should start by slapping a 90% property tax on villas in Tuscany owned by British residents: who could disagree?deariemenoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-54900864305623933982011-02-12T23:34:33.860+00:002011-02-12T23:34:33.860+00:00The current cuts will pale into insignificance if ...The current cuts will pale into insignificance if you believe the figures that this paper from the Bank of International Settlements:<br /><br />http://www.bis.org/publ/work300.pdf<br /><br />Note that the BIS was some of the few bodies to warn of the dangers of excess private debt prior to 2007, and here they analyse the future rises in public debt. <br /><br />The UK is one of the worst placed - over the next 30 years debt will exceed 300% of GDP even if we enforce more significant cuts than are currently being enacted. <br /><br />The markets won't let it get that far of course, and then Polly will have some REAL cuts to moan about.Jimnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-22291323273269692912011-02-12T23:30:04.127+00:002011-02-12T23:30:04.127+00:00There was a time when I cared deeply about the sta...There was a time when I cared deeply about the state of our nation's finances, but the constant stupidity shown by politicians of all colours has taught me not to care. If they won't take this matter seriously then why should I? <br /><br />Let the state tax, borrow and spend, and when it comes to repayment just shaft the lenders. If some are strategically more important than others -like China for example- then prioritise their debt at the expense of those with less leverage (no pun intended). <br /><br />It's time for the state to return risk back to the private sector, which would wipe out most of the unsustainable debt that is currently floating around.chefdavehttps://www.blogger.com/profile/14394720391421552371noreply@blogger.com