peteblue
Welcome back Wayne
You have to play the long game. But Brexit was never about money. Only those who are concerned about their own money are against Brexit.......
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You have to play the long game. But Brexit was never about money. Only those who are concerned about their own money are against Brexit.......
peteblue
Welcome back Wayne
And less than a third of what the last labour government saddled us with.......
The binman chronicles
Player Valuation: £80m
I think the Government may have gone for the populist spend today and let some other generation sort it out... Young people often show great empathy for situations like Greece, well they better cause in 10 to 15 years they might be living it unless everyone can sit down and cancel all debts, reset and go again!
I bet Osborne spat out his tea when he saw what Hammond was going to do.
peteblue
Welcome back Wayne
I get the first bit mate. QE didn't work very well and the greedy banks are most likely at the head of the queue if you're looking for reasons why.
It's the second bit I'm having trouble explaining but in my own head it all seems so straight forward and simple. The £400bn+ released via QE was done via the BOE purchasing debt, mainly Govt gilts. We agree on that.
The BOE now own in theory £400bn+ (subject to price fluctuation), We presumably agree on that.
The BOE is owned indirectly by the Govt. We agree on that.
So the next logical step to take from there is that the Govt owns it's own debt and is paying interest to itself. And when it repays the debt on maturity the payment is actually going back to itself is it not? I think this is the point I'm trying to get across that we don't seem to agree on.
If I'm doing your head in mate just ignore it. I'm happy to be blissfully unconsciously incompetent
You are correct, And the USA and the UK printed money at the same time and in unison, as a result neither the Pound v the dollar ,nor the dollar v the pound, depreciated. If was effectively free money. Debt was purchased and banks refunded, this is what got the world moving again.......meanwhile our outstanding borrowing created by Gordon Brown and his spending policies, is reducing year on year. This is what upsets Esk. The overall debt number is going up, obviously because of the labour spending promises, but the actual borrowing is coming down year by year......
peteblue
Welcome back Wayne
I think the Government may have gone for the populist spend today and let some other generation sort it out... Young people often show great empathy for situations like Greece, well they better cause in 10 to 15 years they might be living it unless everyone can sit down and cancel all debts, reset and go again!
I bet Osborne spat out his tea when he saw what Hammond was going to do.
No mate, they are trying to remove the debt that Gordon Brown was generating for our grandchildren.......
Pienaar's gloves
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As pro-Brexit members are fed up with sweeping generalisations being used to define them, I'll just point out that this too is a sweeping generalisation, and one that is rather untrue.
peteblue
Welcome back Wayne
Well it's been proven apparently that every graduate and clever person voted remain, and all the stupid working class voted leave, so it's not a great leap to accept that those with money voted remain.........
The binman chronicles
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Unfortunately Pete I don't think either party has got a handle on this!
What we need here is outside of the box thinking. Hmmm... I find the best way to deal with debt it is to move out and not leave a forwarding address!
Pienaar's gloves
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It's barely worth engaging with.
I'm going to point out that Liverpool voted to remain, you know, being the high income city it is.
peteblue
Welcome back Wayne
Unfortunately Pete I don't think either party has got a handle on this!
What we need here is outside of the box thinking. Hmmm... I find the best way to deal with debt it is to move out and not leave a forwarding address!
California, Canada ?.......
peteblue
Welcome back Wayne
In comparison to our countryside villages and fishing ports it is.......
The binman chronicles
Player Valuation: £80m
Well there is 60 million of us so going to have to be fairly large. Got to be not too hot or too cold, no earthquakes or other natural disasters, we are not too good with neighbours so would help if we can have a bit of a moat around us...
Arghhh! Fiddlesticks! We are just gonna have to switch it to interest only and keep paying the debt!
peteblue
Welcome back Wayne
Well there is 60 million of us so going to have to be fairly large. Got to be not too hot or too cold, no earthquakes or other natural disasters, we are not too good with neighbours so would help if we can have a bit of a moat around us...
Arghhh! Fiddlesticks! We are just gonna have to switch it to interest only and keep paying the debt!
I've said it before and I'll say it again, back in the 1770's we should have put everyone on a boat, settled in North America, USA & Canada, and told the rest of the world to sod off......
It utterly baffles me that people still bleat on about Tory cuts. They're spending more than Labour. And it's not a good thing. Debt is real. It's not a mythical thing. We need to keep it down, and shock horror, actually pay some of it back. It has to stay at sustainable levels. It's still far too high.
Pienaar's gloves
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Mostly because people are actually dying and having their lives ruined mate.
I agree with the rest of your point, but for the sake of many people's life chances, there were better ways to go about clearing some of the deficit.
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