Is the situation in the UK really that bad?
#1486
Home and Happy
Joined: Dec 2002
Location: Keep true friends and puppets close, trust no-one else...
Posts: 93,787
#1487
Re: Is the situation in the UK really that bad?
Back to original point, the answer seems increasingly to be a resounding NO...
http://www.telegraph.co.uk/finance/b...ts-record.html
http://www.telegraph.co.uk/finance/b...ts-record.html
#1488
Re: Is the situation in the UK really that bad?
Back to original point, the answer seems increasingly to be a resounding NO...
http://www.telegraph.co.uk/finance/b...ts-record.html
http://www.telegraph.co.uk/finance/b...ts-record.html
Doesn't quite look so great when you view it that way.
#1489
Re: Is the situation in the UK really that bad?
The point is surely that we are where we are. And whether the situation is "that bad" or a bit better than that.
And on that basis, government borrowing coming in 10 percent below expectations with GDP growing above expectations is a very good result.
Whether it is enough is another matter. It has always been obvious that it would take a good two generations to repair the public balance sheet after the last Government. In my darker moments, I tend towards the view that the damage Brown inflicted was so catastrophic that it simply cannot be fixed.
1.2 trillion of debt. It does not bear thinking what the deficit would be if interest rates returned to anything like normal. At just five percent, the interest charge alone would be sixty billion a year - nearly ten percent of ALL public spending.
The last figures, holding interest rates at zero in the UK has cost savers and pensioners 110 billion. By some strange coincidence, it has saved HMG roughly the same amount in interest charges - 120 billion.
You can quite understand why central banks the world over are trying their damnedest to keep interest rates to the floor.
#1490
Re: Is the situation in the UK really that bad?
Looked at from the perspective of whether it is somewhere one would want to be if one had the choice, I have to agree. But looked at from the perspective of Government running a deficit of between 10 and 12 percent of GDP in 2009 and 2010, which is down to about 6 percent (still far too high) and falling...
The point is surely that we are where we are. And whether the situation is "that bad" or a bit better than that.
Whether it is enough is another matter. It has always been obvious that it would take a good two generations to repair the public balance sheet after the last Government. In my darker moments, I tend towards the view that the damage Brown inflicted was so catastrophic that it simply cannot be fixed.
You can quite understand why central banks the world over are trying their damnedest to keep interest rates to the floor.
The point is surely that we are where we are. And whether the situation is "that bad" or a bit better than that.
Whether it is enough is another matter. It has always been obvious that it would take a good two generations to repair the public balance sheet after the last Government. In my darker moments, I tend towards the view that the damage Brown inflicted was so catastrophic that it simply cannot be fixed.
You can quite understand why central banks the world over are trying their damnedest to keep interest rates to the floor.
But Browns antics, were the nail in the coffin, he didnt build
It...This build up goes way way back, and thats what makes me angry, past
Governments since the 80s, even maybe the 70s who all bragged they have their financial experts, didnt want to recognise or take warnings, what failures through greed , or incompetence in blindly believing so called "experts" were starting to take root through the various Financial institutions.
#1491
Re: Is the situation in the UK really that bad?
I watched a fascinating program this week called "Our friends in the North", comparing Scotland to the Nordic countries. The idea was that Scotland is often compared to them as the model for a small, independent country. There are a lot of similarities.
Anyway, I was really struck by the fact that when Norway found oil, they did not simply spend all the money, they invested it. It seemed like such a microcosm of what happens in many Western households - you get a windfall (an endowment matures, you get a pay rise, you inherit a lump sum) and have to decide what to do with it. The Western way seems to be to spend it rather than save for a rainy day.
Anyway, I was really struck by the fact that when Norway found oil, they did not simply spend all the money, they invested it. It seemed like such a microcosm of what happens in many Western households - you get a windfall (an endowment matures, you get a pay rise, you inherit a lump sum) and have to decide what to do with it. The Western way seems to be to spend it rather than save for a rainy day.
#1492
Re: Is the situation in the UK really that bad?
But Browns antics, were the nail in the coffin, he didnt build
It...This build up goes way way back, and thats what makes me angry, past
Governments since the 80s, even maybe the 70s who all bragged they have their financial experts, didnt want to recognise or take warnings, what failures through greed , or incompetence in blindly believing so called "experts" were starting to take root through the various Financial institutions.
They all promise more and more, without accepting that it must be paid for somehow.
Or rather, they all hope the next guy will have to pay for it.
Brown's undoing was that they won three elections, so he is unable to either blame it on the last person, or leave it for the next person to fix it. Because he was both those people.
But in truth I think you are right. They were all just rolling a boulder up a hill, without ever considering the possibility that they might not get it over the summit. And when it started rolling back, I don't think ANY of them has a clue how to stop it. And that is the really terrible part of it.
#1493
Re: Is the situation in the UK really that bad?
I watched a fascinating program this week called "Our friends in the North", comparing Scotland to the Nordic countries. The idea was that Scotland is often compared to them as the model for a small, independent country. There are a lot of similarities.
Anyway, I was really struck by the fact that when Norway found oil, they did not simply spend all the money, they invested it. It seemed like such a microcosm of what happens in many Western households - you get a windfall (an endowment matures, you get a pay rise, you inherit a lump sum) and have to decide what to do with it. The Western way seems to be to spend it rather than save for a rainy day.
Anyway, I was really struck by the fact that when Norway found oil, they did not simply spend all the money, they invested it. It seemed like such a microcosm of what happens in many Western households - you get a windfall (an endowment matures, you get a pay rise, you inherit a lump sum) and have to decide what to do with it. The Western way seems to be to spend it rather than save for a rainy day.
They argued and discussed heartly and all agreed before closing time bell, that
nothing will change and the money will not come on the streets of Scotland
Or Britain...the politicians and so called expert Business men will nick it, and squander
this great opportunity...43 years on , those double golden watch drinkers were proved
so so right.
For reference...a double watch is a double whiskey.usually as a chaser.
> a pint chased down with......a scotch/Irish <
Cheers!! To all the lads/lassies on the rigs no matter where, keep safe.
#1494
Banned
Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: Is the situation in the UK really that bad?
Back to original point, the answer seems increasingly to be a resounding NO...
http://www.telegraph.co.uk/finance/b...ts-record.html
http://www.telegraph.co.uk/finance/b...ts-record.html
Some wont want to read good news and will do there best to put a negative slant on it but you get that
#1495
Banned
Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: Is the situation in the UK really that bad?
#1496
Re: Is the situation in the UK really that bad?
Can we please keep it on topic and not make it personal. If you don't like another person's opinion, fair enough, but don't pull that into a thread and derail it.
Thanks.
Thanks.
#1497
Banned
Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: Is the situation in the UK really that bad?
Thanks Sue, there are a few who just like to follow others around making stupid comments, it is pretty sad but we should all respect the opinions of others. In respect of this thread in particular I am living in the UK so I feel 'qualified' to comment on the way things are.
#1498
Re: Is the situation in the UK really that bad?
This was posted elsewhere on the forum - http://www.landregistry.gov.uk/__dat...20131125v2.pdf
The final pages relate to sales and repossessions, and although many people are still losing their homes, their is a sizeable decrease in the number / percentage of repossessions. There are also increases in the number of houses sold with prices having risen approx 3%
The final pages relate to sales and repossessions, and although many people are still losing their homes, their is a sizeable decrease in the number / percentage of repossessions. There are also increases in the number of houses sold with prices having risen approx 3%
#1499
Banned
Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: Is the situation in the UK really that bad?
This was posted elsewhere on the forum - http://www.landregistry.gov.uk/__dat...20131125v2.pdf
The final pages relate to sales and repossessions, and although many people are still losing their homes, their is a sizeable decrease in the number / percentage of repossessions. There are also increases in the number of houses sold with prices having risen approx 3%
The final pages relate to sales and repossessions, and although many people are still losing their homes, their is a sizeable decrease in the number / percentage of repossessions. There are also increases in the number of houses sold with prices having risen approx 3%
#1500
Re: Is the situation in the UK really that bad?
Also, when youu look at the graph in this link - also posted elsewhere - http://www.bbc.co.uk/news/uk-politics-25114890, the fact that no one group contributes more to the economy than it receives in benefits can not be good news