tag:blogger.com,1999:blog-2249851329008146395.post2489329108293277988..comments2023-10-30T09:11:12.922-07:00Comments on Clouded Outlook: Public debt means stealing from future generationsAlice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-2249851329008146395.post-53548355946514964942009-04-28T08:50:00.000-07:002009-04-28T08:50:00.000-07:00A good article.What do you think those savers are ...A good article.<br><br>What do you think those savers are going to do then, or the bondholders?<br><br>Elect a new government without this strategy (both parties are going to do this)?<br><br>Force a default that wipes out the currency of their holdings in the hope of getting a litle back?<br><br>The only real answer is to emigrate, which millions are and will do. This is the hidden story of new labour. Wealthy indigenous people flee to aus/spain/canada with their money and are replaced by poor immigrants who work for little pay. in fact you need more immigrants becuase they are not paid enough - the Government has clearly worked this out a while ago.CityUnslickerhttp://www.blogger.com/profile/15929544047783163175noreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-67018373480094387232009-04-28T09:01:00.000-07:002009-04-28T09:01:00.000-07:00Given that the previous decade's GDP rise in t...Given that the previous decade's GDP rise in the UK has been discovered to be largely fictitious, our public debt ratio is MUCH worse than is being reported.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-91980339669901258752009-04-28T09:41:00.000-07:002009-04-28T09:41:00.000-07:00You don't need to emigrate, just move your mon...You don't need to emigrate, just move your money to other currencies. There are no exchange controls now, so if things look bad the money will flow out of the country faster than a rat down a drain pipe. <br><br>With modern technology and trading platforms you can even hedge you savings against other currencies without moving them. This is what will stop Labour (or any other govt) ruining the country completely.sobersnoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-58191622328133403252009-04-28T12:14:00.000-07:002009-04-28T12:14:00.000-07:00Dear Alice,Good article.My last comment here was u...Dear Alice,<br><br>Good article.<br><br>My last comment here was under the influence of about ten pints of Betty Stogg's. I kept bumping into people who owed me favours all night long - it would have been rude of me to refuse their hospitality. The half hour preceding had been spent standing on top of a table in my favourite pub playing air guitar to my favourite AC/DC tribute band - being a quiet character I figured it was time I should go.<br><br>Sadly my computer is on the way to my bedroom and I didn't quite make it back without making an arse of myself.<br><br>I'm truly sorry.(Not least for saying something supportive of Nu Lab)<br><br>KevinElectro-Kevinhttp://www.blogger.com/profile/18073103431166273080noreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-41608394062257672902009-04-28T13:36:00.000-07:002009-04-28T13:36:00.000-07:00Very good; sober, balanced tone. If I may say so.Very good; sober, balanced tone. If I may say so.Sackersonnoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-39317529370187168172009-04-28T14:48:00.000-07:002009-04-28T14:48:00.000-07:00At least money was spent rebuilding the nation'...At least money was spent rebuilding the nation's infrastructure after the war, this money is not going to be used for investment it will just be squandered on the wages of a bunch of useless, unproductive civil servants. We will never be in a position to pay down the debt.Ricknoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-50999038135280425722009-04-29T02:23:00.000-07:002009-04-29T02:23:00.000-07:00It is worth remembering the difference between deb...It is worth remembering the difference between debt to fight a major world war and preserve the country's freedoms and independence, and ten years of debt racked up to keep a load of white-wine swilling slappers in 110% mortgages and cheap high-street fashion. There is a real moral difference there and it is why I am not prepared to pay to bail this lot out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-65974122834884698152009-04-29T04:03:00.000-07:002009-04-29T04:03:00.000-07:00The difference between the 2nd WW and now is that ...The difference between the 2nd WW and now is that bureaucracy started all over after the War from scratch, having been mobilised for the war effort. It was then remobilised for peace time. Now you have a bureaucracy that will go on increasing until there is a debt default by the British Government. <br>That is on the cards because lenders are not going to stand for low interest rates with current risk. If there are no lenders, and the govt wants to keep interest rates low, the Bank of England will have to absorb the whole of the Bond Market, because every seller of bonds is going to throw their bonds in the BOE's direction. If the BOE fails to underwrite the market, well up go interest rates ! That leads to default.<br>I believe the BOE is fully aware of this, and the way round it is for central banks to do currency swaps and buy each others' countries' bonds. This might explain the current (counter-intuitive) strength in the Pound.<br>This leads to a decline or even a collapse in all fiat currencies. <br>Gold is the thermometer to measure this, but has been suppressed for 15 years. For information on the policy by the Fed to "manage" or suppress the gold price, go to www.gata.org. The gold price suppression scheme is shortly doomed to failure. That is quite apart from the fact that China has announced it is in the market. The central banks' reserves are running critically low.<br>Got gold ?<br>Britain is heading in the direction of IcelandJoshhttp://www.blogger.com/profile/14479418745092947425noreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-90955021987382803332009-04-29T10:38:00.000-07:002009-04-29T10:38:00.000-07:00I think we are on the Iceland iceberg. I have take...I think we are on the Iceland iceberg. I have taken measures now to hedge for this. I don't trust the pound holding its strength in the second half of the year.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-31426504033571242742009-04-29T10:43:00.000-07:002009-04-29T10:43:00.000-07:00It just goes to show that all the talk about '...It just goes to show that all the talk about 'the environment' is a load of b*ll*ocks. 'We must think of our grandchildren' goes the cry when some mad-ass scheme to 'stop climate change' is proposed. <br><br>Not much consideration is being given to the grandchildren's future debt bills tho, is it? They might prefer a few more degrees on the temperature, and a few less trillions in debt round their necks. <br><br>At least it shows up the Greens and their Nu-Labour hangers-on as the hypocrites they really are. The real reasons for 'green' laws are control and taxation. Nothing more.sobersnoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-36691144811569193782009-04-29T16:17:00.000-07:002009-04-29T16:17:00.000-07:00Sobers,That's why they're called melons.Th...Sobers,<br><br>That's why they're called melons.<br><br>Thin Green Skin, but Red to the coreAntiCitizenOnehttp://www.blogger.com/profile/00017073518049848696noreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-78447970809764599232009-04-30T05:08:00.000-07:002009-04-30T05:08:00.000-07:00The UK should just default now and save the future...The UK should just default now and save the future generations the bother - It's for the sake of The Children.Anonymousnoreply@blogger.com