tag:blogger.com,1999:blog-2948538160252327076.post6354556484677145501..comments2023-11-02T15:48:50.381+00:00Comments on UK Bubble UK Economy: OMG! The UK fiscal deficitAlice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-2948538160252327076.post-10727515081183081002009-06-19T22:37:44.885+01:002009-06-19T22:37:44.885+01:00Gold is a problem: look at history: if things get ...Gold is a problem: look at history: if things get really bad (like the Depression) governments actually snatch the gold back. No joke. They did this in the Depression: just said you have to hand it in or go to jail. When governments go broke, they get predatory: they look for any tax they can, they drive you out of your house, they grab gold, they impose exchange controls, they devalue wealth with inflation or hyperinflation. The real issue is this: it is political and it is about control. The state must always be in control. When a government gets ropey (like New Labour) the more it gets aggressively controlling.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-54383168875494910262009-06-19T21:55:36.464+01:002009-06-19T21:55:36.464+01:00But you can't grow, eat or drive gold!But you can't grow, eat or drive gold!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-57577026096064258262009-06-19T08:05:21.562+01:002009-06-19T08:05:21.562+01:00sobers: "Britain is bankrupt. We are effectiv...sobers: "Britain is bankrupt. We are effectively a larger version of Northern Rock. Though in a worse state."<br /><br />Northern Rock! How about Iceland?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-63671255165163447622009-06-19T07:26:43.313+01:002009-06-19T07:26:43.313+01:00mousseman,
Not sure about gold. It will come down...mousseman,<br /><br />Not sure about gold. It will come down eventually when the sentiment changes. The Euro zone is not so greatly better managed than the UK, so Euros are a risk too.<br /><br />Best just pray. Or leave the country.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-28314091264232922912009-06-18T22:47:02.450+01:002009-06-18T22:47:02.450+01:00Should Switzerland build a few refugee camps for a...Should Switzerland build a few refugee camps for all these UK refugees that will doubtlessly flee their homeland when things go tits-up?<br /><br />Already, the rich and quite a few companies went there, or to Ireland, but Ireland is in the deficit vise as well...moussemannoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-62285154121325319562009-06-18T22:18:08.785+01:002009-06-18T22:18:08.785+01:00Britain is bankrupt. We are effectively a larger v...Britain is bankrupt. We are effectively a larger version of Northern Rock. Though in a worse state. Because we've borrowed money, spent it rather than loaned it out, and can only repay it if some other mug will lend us some more dosh. If the money markets turn against us, as they did to NR in 2007, we are screwed. Not only is our current spending budget in massive deficit, but we still have to pay back the capital each year on maturing debt we borrowed years ago. <br /><br />When the only way you can continue is to borrow more, to pay off your creditors, it's only a matter of time before the axe falls.sobersnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-50672391766793264802009-06-18T22:15:42.480+01:002009-06-18T22:15:42.480+01:00Folks, exchange your hard-earned Brit pounds for s...Folks, exchange your hard-earned Brit pounds for some more stable currency, like Euros, or buy gold.<br /><br />The code word is 'Weimar'. You'll remember when it comes to it.moussemannoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-9072083348357205462009-06-18T20:54:01.731+01:002009-06-18T20:54:01.731+01:00OMG! Indeed.
And the one-eyed evil snot goblin sa...OMG! Indeed.<br /><br />And the one-eyed evil snot goblin says that he's going to increase spending in real terms.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-89763270889376246882009-06-18T20:03:24.851+01:002009-06-18T20:03:24.851+01:00Alice, very decent of you to use white for the col...Alice, very decent of you to use white for the colour of the UK deficit. Some people might want to print out your chart and ink is expensive.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-35064946201716357732009-06-18T19:31:50.544+01:002009-06-18T19:31:50.544+01:00I hope people mark down the names of those who con...I hope people mark down the names of those who continue to play the housing bubble game: they need to be taught in the schools and put in the history books. Maybe something like the Doomsday Book, only a book of all the scum bags who broke Britain with their greed and short termism. It could read like this: A - Kirstie Alsop, B - Sarah Beenie, C - Yvette Cooper...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-62235203142111155842009-06-18T19:05:07.269+01:002009-06-18T19:05:07.269+01:00Brown has tried every trick in the book to re-igni...Brown has tried every trick in the book to re-ignite the housing bubble - mega low interest rates, writing off debt etc...<br />These are the actions of a deperate man trying to paper over the cracks before a general election - someone who is trying to create an illusion of prosperity but in reality sinking the UK further into debt.<br />Brown is like a gambler at the roulette wheel who is down to his last few quid... hoping that the next spins of the wheel will bring an end to his problems.<br />So far he has slowed the pace of the house price crash (at the expense of savers and our children's future), but when interest rates go up and the money runs out, it will be carnage and only then will we see big price drops...Markbaldynoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-51526590658440494192009-06-18T18:36:58.243+01:002009-06-18T18:36:58.243+01:00This can't possibly work right? The math I mea...This can't possibly work right? The math I mean. With tax receipts plunging and spending rising, how can this be financed? Who's dumb enough to buy the debt? Or the the pound?Ben Bittrolffhttps://www.blogger.com/profile/12465978905157927856noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-61907384480475640102009-06-18T18:10:05.476+01:002009-06-18T18:10:05.476+01:00You are wrong. I am perfect.You are wrong. I am perfect.Dr James Gordon Brownnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-27421354520271011482009-06-18T17:52:43.027+01:002009-06-18T17:52:43.027+01:00This is a Labour Government yet you still sound su...This is a Labour Government yet you still sound surprised!Anonymousnoreply@blogger.com