Reynard Posted December 4, 2014 Share Posted December 4, 2014 As I have said since this government took office, there have been no spending cuts, they have RISEN 1% per year so far in cash terms. This is set to continue if Osborne gets another shot at it. f**k knows what Balls would get up to as Labour Chancellors rarely face the prospect of taking power with f**k all money to piss away. The OBR confirms this ” Real government consumption continues to contribute positively to GDP growth despite ongoing restraint in nominal spending. “. (pp 79-80 of the OBR book) By "restraint", they actually mean modest increases in spending. For all the gimps hand wringing about "austerity", they haven't actually seen any "austerity". Osbornes total shafting of Slaphead Swinney as well as pissing on Labours mansion tax chips was very well played indeed. Sturgeons first few weeks in charge have proven to be a bit shit for her thus far. Its not going to improve for her either as she is a ridiculous socialist imbecile Link to comment Share on other sites More sharing options...
Zetterlund Posted December 4, 2014 Share Posted December 4, 2014 Yeah I get you. But the statement was never going to be anything less than depressing. Few people seem to grasp the reality of the economic situation the UK finds itself in. I personally don't see a way out of it and can see us heading towards Greece. Or Cyprus, since new global financial rules allow banks to help themselves to deposits to cover commitments to other banks first in the event of a collapse. Time to stuff our mattresses with banknotes or bars of gold. Link to comment Share on other sites More sharing options...
ICTJohnboy Posted December 4, 2014 Share Posted December 4, 2014 As I have said since this government took office, there have been no spending cuts, they have RISEN 1% per year so far in cash terms. This is set to continue if Osborne gets another shot at it. f**k knows what Balls would get up to as Labour Chancellors rarely face the prospect of taking power with f**k all money to piss away. The OBR confirms this ” Real government consumption continues to contribute positively to GDP growth despite ongoing restraint in nominal spending. “. (pp 79-80 of the OBR book) By "restraint", they actually mean modest increases in spending. For all the gimps hand wringing about "austerity", they haven't actually seen any "austerity". Osbornes total shafting of Slaphead Swinney as well as pissing on Labours mansion tax chips was very well played indeed. Sturgeons first few weeks in charge have proven to be a bit shit for her thus far. Its not going to improve for her either as she is a ridiculous socialist imbecile You should be a speech writer for these Etonian c***s. Link to comment Share on other sites More sharing options...
Reynard Posted December 4, 2014 Share Posted December 4, 2014 You should be a speech writer for these Etonian c***s. Osborne didn't go to Eton. Link to comment Share on other sites More sharing options...
ICTJohnboy Posted December 4, 2014 Share Posted December 4, 2014 Osborne didn't go to Eton. Eton probably wasn't considered upper crust enough for young Gideon. Link to comment Share on other sites More sharing options...
Reynard Posted December 4, 2014 Share Posted December 4, 2014 Or Cyprus, since new global financial rules allow banks to help themselves to deposits to cover commitments to other banks first in the event of a collapse. Time to stuff our mattresses with banknotes or bars of gold. Neither Cyprus nor Greece are currency issuers. They gave up their currency to enter into a currency union and this is why they have been forced to grab their ankles and take one from the Germans. The UK is a currency issuer and is in no danger of a default at all. In fact around half a trillion of our debt is actually owed to ourselves. Having a central bank allows states to piss around in this way and effectively create money from thin air and buy back debt which it can effectively write off. Our debt to GDP ratio based on this is around 60%, which is low. Greece and Cyprus and others have actually experienced austerity. We havent. Link to comment Share on other sites More sharing options...
Reynard Posted December 4, 2014 Share Posted December 4, 2014 Eton probably wasn't considered upper crust enough for young Gideon. Possibly. I doubt he selected his own school all the same. Blame the parents. Link to comment Share on other sites More sharing options...
Zetterlund Posted December 4, 2014 Share Posted December 4, 2014 Neither Cyprus nor Greece are currency issuers. They gave up their currency to enter into a currency union and this is why they have been forced to grab their ankles and take one from the Germans. The UK is a currency issuer and is in no danger of a default at all. In fact around half a trillion of our debt is actually owed to ourselves. Having a central bank allows states to piss around in this way and effectively create money from thin air and buy back debt which it can effectively write off. Our debt to GDP ratio based on this is around 60%, which is low. Greece and Cyprus and others have actually experienced austerity. We havent. I was referring to another bank collapse, which is very possible. In the event this happens, banks deemed to be "systematically important" have the authority to confiscate its customers' savings to meet its obligations to other banks first, before accepting government support. A bail-in, rather than a bail-out. You know you're in trouble when a nation's main financial asset is its central bank printing press. Link to comment Share on other sites More sharing options...
ICTChris Posted December 4, 2014 Share Posted December 4, 2014 Here's an interesting article on the autumn statement by the fantastically named Ambrose Evans-Pritchard. http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/11271845/George-Osborne-has-missed-his-chance-to-end-the-British-disease.html Link to comment Share on other sites More sharing options...
Reynard Posted December 4, 2014 Share Posted December 4, 2014 I was referring to another bank collapse, which is very possible. In the event this happens, banks deemed to be "systematically important" have the authority to confiscate its customers' savings to meet its obligations to other banks first, before accepting government support. A bail-in, rather than a bail-out. You know you're in trouble when a nation's main financial asset is its central bank printing press. Indeed. But the politicians have been buying votes for decades now based on what they can dish out in welfare. There is barely a single European country that isn't fucked or isn't operating the same scam as we have done. Having your own central bank and your own currency is vital unless you want to be the first ones to be choked under austerity. Giving up that control has basically destroyed the economies of a a number of European countries in the Eurozone. When even the bigger economies like France are seeing their "socialist" president having to make actual spending cuts, you know things are coming to a pretty gruesome head. Banks should get back to doing what banks do and stop feeding off printed money. Let them stand and fall by their own decisions. Let their shareholders take the hit and drive how the bank operates. I'm all for binning central banks and their fiat currencies. Get politicians and their interference out of the markets. Link to comment Share on other sites More sharing options...
Zetterlund Posted December 4, 2014 Share Posted December 4, 2014 I'm all for binning central banks and their fiat currencies. Get politicians and their interference out of the markets. There seems to have been a recent change in mentality of some of the big eastern nations who are stockpiling gold, to the point where they have apparently emptied the vaults of the western banks who sold it all off. Maybe they know something we don't, but it seems to be making some European countries like Germany and the Netherlands nervous as they've started repatriating their gold stored overseas (or trying, but it has disappeared). I look forward to bartering down the local market with silver coins in the not-too-distant future. Link to comment Share on other sites More sharing options...
Todders Posted December 4, 2014 Share Posted December 4, 2014 Having a central bank is awesome!!! Scrap the central bank!!! Do you just type the first pile of push that enters your mind? Link to comment Share on other sites More sharing options...
H_B Posted December 4, 2014 Share Posted December 4, 2014 The admirable way to think; unfortunately this country is full of avaricious c***s who only care about themselves. Can you break down for me exactly how much you earn net and give away to charity. I mean I wouldn't like you to be a hypocrit and actually be an avaricious c**t. Link to comment Share on other sites More sharing options...
Reynard Posted December 5, 2014 Share Posted December 5, 2014 There seems to have been a recent change in mentality of some of the big eastern nations who are stockpiling gold, to the point where they have apparently emptied the vaults of the western banks who sold it all off. Maybe they know something we don't, but it seems to be making some European countries like Germany and the Netherlands nervous as they've started repatriating their gold stored overseas (or trying, but it has disappeared). I look forward to bartering down the local market with silver coins in the not-too-distant future. It has been going on for some time. I've been buying up gold for five or six years now as well. The actual price will fluctuate, but its still a good asset. Cash in the bank isn't. Look at Russia right now. With the oil price caning it, their state has restricted depositors taking more than 10k out their bank account. Its easy to part you from your money that way. You hear of old dears that snuffed it and their house was a fucking gold mine, cash stuffed everywhere. I suppose if youd lived through the war era you'd understand why they did that. My own grandfather got wandered in his dotage, and he really wasn't happy unless he could only JUST get his wallet shut. He was stinking rich too, but unless he could see it he didn't believe he had any. Its probably as a result of growing up in a time when things were uncertain. Link to comment Share on other sites More sharing options...
Reynard Posted December 5, 2014 Share Posted December 5, 2014 Having a central bank is awesome!!! Scrap the central bank!!! Do you just type the first pile of push that enters your mind? The nuance of an argument is obviously a bit too much for you to handle.You proved some time ago that you were really fucking dim, maybe its a result of your diet of wallaby anus? Link to comment Share on other sites More sharing options...
haggis pakora Posted December 5, 2014 Share Posted December 5, 2014 The nuance of an argument is obviously a bit too much for you to handle.You proved some time ago that you were really fucking dim, maybe its a result of your diet of wallaby anus? Link to comment Share on other sites More sharing options...
Reynard Posted December 5, 2014 Share Posted December 5, 2014 Can you break down for me exactly how much you earn net and give away to charity. I mean I wouldn't like you to be a hypocrit and actually be an avaricious c**t. Maybe a tin of Aldi beans to the foodbank collection wen out showboating with fellow toothless yes voters during one of those dwindling 45 events? Enough to salve the conscience after a lifetime of living on welfare. Link to comment Share on other sites More sharing options...
Reynard Posted December 7, 2014 Share Posted December 7, 2014 Despite all the Austerity, wage stagnation, bedroom tax and reduction in benefits, the UK still has a deficit of £91billion this year alone. That's a little under £3k a SECOND! The total UK debt is a staggering £1.4trillion, approximately £100k for every family of four! Scotland voted to remain in this union, primarily, for financial certainty and the economic benefits of remaining together! Just how bad would Independence have really been There has been no austerity. This government has increased state spending by 1% a year since it took power in 2010. Thats a 1% real terms rise in spending. Thats no austerity. Anyone that is still claiming there is austerity in the UK needs to take their economically illiterate face for a shite. The OBR confirmed that I have been right all along on this. Ive been saying it consistently since this government took power, the political chat has been about austerity and cutting and prudence. The reality has been a lot different. Anyone actually thinking there is austerity in the UK has been taken for an absolute mug, and is being used as a useful idiot by politicians. The state is bigger now than at any time in the history of this country. Link to comment Share on other sites More sharing options...
HaikuHibee Posted December 7, 2014 Share Posted December 7, 2014 Neither Cyprus nor Greece are currency issuers. They gave up their currency to enter into a currency union and this is why they have been forced to grab their ankles and take one from the Germans. The UK is a currency issuer and is in no danger of a default at all. In fact around half a trillion of our debt is actually owed to ourselves. Having a central bank allows states to piss around in this way and effectively create money from thin air and buy back debt which it can effectively write off. Our debt to GDP ratio based on this is around 60%, which is low. Greece and Cyprus and others have actually experienced austerity. We havent. see: http://www.tradingeconomics.com/united-kingdom/government-debt-to-gdp What a load of shite. We don't issue currency. London issues it. Link to comment Share on other sites More sharing options...
Reynard Posted December 8, 2014 Share Posted December 8, 2014 What a load of shite. We don't issue currency. London issues it. Its probably best if you shuffle off to a part of the forum where you can make less of a c**t of yourself. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.