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Britain's 200 billion debt timebomb
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Worse, these numbers are an understatement of the true position. According to data aired at a Taxpayers' Alliance seminar on Thursday, once private finance initiative payments, public sector pensions and other off-balance sheet liabilities are taken into account, the true size of the interest bill will be more like £200bn by the end of the Parliament. I won't trouble you with the projected costs of social security and tax credits, but they are little less alarming. -
"Against this backdrop of rising expenditure, Ed Balls, the shadow chancellor, accuses the Government of putting the economy "back in the danger zone" by seeking to apply at least a degree of restraint. Mr Balls is much more highly qualified in economics than I am, but he obviously understands nothing about the basic principles of finance."
Too true. As Balls was party to getting the finances into its current state, keeping a proper and honest balance sheet would have been a decent start.Comment
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Lets hope that the Star Trek future where money has no meaning is very very near. Either that or the Chinese and Arabs let us off as long as we buy their $200 pb oil and quality goods.McCoy: "Medical men are trained in logic."
Spock: "Trained? Judging from you, I would have guessed it was trial and error."Comment
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Originally posted by Doggy Styles View PostToo true. As Balls was party to getting the finances into its current state, keeping a proper and honest balance sheet would have been a decent start.
I'm still struggling to see what Labour stand for. They seem to moan about every govt decision, which is fair enough as the opposition, but they're not saying what their own position is. Not that I care, I'll never vote Labour...Older and ...well, just older!!Comment
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Originally posted by ratewhore View PostIndeed, Labour have no right to comment at all on the state of the nations finances, IMHO of course.
I'm still struggling to see what Labour stand for. They seem to moan about every govt decision, which is fair enough as the opposition, but they're not saying what their own position is. Not that I care, I'll never vote Labour...
I have noticed their constant attempts to try and wind up the Libs and get them to turn on the Tories has died a death.Comment
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Originally posted by lilelvis2000 View PostLets hope that the Star Trek future where money has no meaning is very very near.Feist - 1234. One camera, one take, no editing. Superb. How they did it
Feist - I Feel It All
Feist - The Bad In Each Other (Later With Jools Holland)Comment
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"With no control over their own monetary policy"
What a load of tosh - ECB dropped rates and printed plenty of money, what other "monetary policy" should Portugal have?
The only policy they (and everyone sensible) should have is NOT getting into debt, that's why taking away from individual Govts ability to print money is a good thing and to a local "independent" bank like BoE.Comment
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Originally posted by TimberWolf View PostIt's being reported in the press today that Japan's repair bill could top £200 billion.Comment
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