Bonkers Economics

So let me get this straight.

The UK has massive, unsustainable debt so the Government is cutting back on everything from defence to social care, and putting up VAT and anything else it can think of, to pay it off.

The Government tells us that we are in this position because the previous government borrowed too much money.

We, as taxpayers, are bearing the brunt of this financial mess.

So we are now going to lend the Irish £7bn.

But we don't have any money, so we are going to have to borrow it to lend it to them. When we can't afford to borrow any more for ourselves.

And as we've said we can't afford to borrow any more, who is going to lend us money so we can lend it to Ireland (who also can't afford to borrow any more and can't repay what they have already borrowed). And why doesn't whoever it is that will lend us this money just lend it straight to Ireland without involving us?

And who is it that has all this money that they can afford to lend out? Would that be the banks? Who nearly went bust until we borrowed money to bail them out?

Does nobody else apart from me think that it is about time someone stood up and said that the way the global economy "works" just doesn't make sense? I swear to god that they make it up as they go along.

And all of this is on top of the £53bn RBS lent to Ireland that we the taxpayer are now responsible for as we own RBS.

.AAAAAAAAAAAAAAAAAAAAAAAAAAAAArgh

new world order - mark of the beast ! debt ....

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Replies

Fenlandphil November 22, 2010 at 6:56am

Now now Victor calm down.
I don't believe it either.
It ain't meant to make sense, thats why we are not politicians. We will probably borrow the money held in offshore bank accounts by people like the chancellor of the exchequer who will get the interest payments tax free so they don't have to pay their fair share of tax.
Matt Brown November 22, 2010 at 10:00am

apparently there are countries that owe eachother money (not sure which or how much) but if country a owes country b £50bn and b owes a £30bn why can they not say wipe the £30bn and country a owes £20bn to b

if you can follow
Lawncare-4u.co.uk November 22, 2010 at 12:06pm

YES ......... rothschilds,
Lawncare-4u.co.uk November 22, 2010 at 12:08pm

new world order - mark of the beast ! debt ....

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££
PRO

Paul @ Ashgate Garden Care November 22, 2010 at 3:26pm

Worrying thing is when I pay my quarterly NI contribution it goes into a Natwest account which is ultimately owned by RBS. Good to know the government used some due dilligence when deciding who they were going to bank with !
PRO

Paul @ Ashgate Garden Care November 22, 2010 at 4:15pm

Just been reading an iteresting article on it:

http://www.independent.co.uk/news/business/comment/sean-ogrady-if-p...
chris nangle November 22, 2010 at 6:13pm

pure nuts
Lawncare-4u.co.uk November 22, 2010 at 6:15pm

its all 'created' to make us slaves ........... debt debt debt -they make money ...

The Garden Co said:
i just do not get this atall, !
Lawncare-4u.co.uk November 22, 2010 at 7:18pm

john - what have the 'labour party' just spent !!!!!!!!! and were are in this recession as a result !

john grass roots home and garden said:
nob ed banks have got alot to answer for , regards this government never trusted the conservatives after the poll tax roll on 4 years bye bye cons
PRO

Gary RK November 22, 2010 at 8:00pm

Just light the blue touch paper and.....

Nothing like a good "polictical" debate....almost as good as "which mower is best" ;-0))

So many views, so many axes to grind, no one right answer....

Me ? I blame the 'Governments'