Dr The Singh Posted 9 February 2014 Posted 9 February 2014 Rumour is that White Dee and MattP are an item and going on Big brother!! Both are set to lose there benefits though!!
l444ry Posted 9 February 2014 Posted 9 February 2014 Private banks hold a small amount of UK debt. The cost of servicing that debt is absolutely nowhere near £192m per day. That's a plain lie. You should probably brush up on Quantitative Easing as well, it isn't a Tory policy. It was Alistair Darling who kicked it off. Plus it was a necessary measure anyway. Likewise, the bank 'bailouts' (that weren't actually bailouts) were implemented by Darling, and supported by the tories because they were necessary. I swear you don't read other peoples posts before answering, Moose!
l444ry Posted 9 February 2014 Posted 9 February 2014 Assuming we accept what you say, what is your solution to the ballooning debt in this country? Growth. Is there any other way?
Smudge Posted 9 February 2014 Posted 9 February 2014 Growth. Is there any other way? Could you be more specific? How would you go about growing the economy?
l444ry Posted 9 February 2014 Posted 9 February 2014 Could you be more specific? How would you go about growing the economy? http://www.youtube.com/watch?v=CrKV6bfqOck
Smudge Posted 9 February 2014 Posted 9 February 2014 http://www.youtube.com/watch?v=CrKV6bfqOck Hmm, well that aint gonna happen is it? Now what?
MooseBreath Posted 9 February 2014 Author Posted 9 February 2014 I swear you don't read other peoples posts before answering, Moose! it's Sunday, my brain doesn't like working on a Sunday. You're talking about private personal debt then, I assume? Which has basically nothing to do with politics
l444ry Posted 9 February 2014 Posted 9 February 2014 Hmm, well that aint gonna happen is it? Now what? You wanted an alternative, I gave it you. Take it or leave it!
l444ry Posted 9 February 2014 Posted 9 February 2014 it's Sunday, my brain doesn't like working on a Sunday. You're talking about private personal debt then, I assume? Which has basically nothing to do with politics Haha. You've even confused me now!
Rincewind Posted 9 February 2014 Posted 9 February 2014 I have found a video on how banks work. I'll put it in the video thread. You'll like it, not a lot but you'll like it.
Webbo Posted 9 February 2014 Posted 9 February 2014 Growth. Is there any other way? We have the fastest growth in Europe already. http://www.youtube.com/watch?v=CrKV6bfqOck We all know about fractional reserve banking, there have been enough videos on here that explain it better than that. It seems rather simplistic rather than a simple solution " The BoE will create money and use it to create jobs" no explanation on how it would use the money. I would I be able to borrow some money from them to buy a house/car/holiday? Does the govt get to pick which businesses should have the benefit of their largess ?
Webbo Posted 9 February 2014 Posted 9 February 2014 I have found a video on how banks work. I'll put it in the video thread. You'll like it, not a lot but you'll like it. Make sure you've watched it yourself Ken, I'll be asking questions on it.
Strokes Posted 9 February 2014 Posted 9 February 2014 You wanted an alternative, I gave it you. Take it or leave it!Its not as if its in labours plans to restructure the banking system in this way, so in not sure why you were bashing the Tories on this one. You might have got your point a cross better if you trimmed down the hatred a bit. However the video looks like a nice idea, I don't really have enough knowledge to know if it is workable or not.
MooseBreath Posted 9 February 2014 Author Posted 9 February 2014 The video refers to "the debt crisis" which to me means public debt, but then talks about private personal debt, something entirely different. The main point is the implication that high street banks have a free reign to create money, and that just isn't true.
Smudge Posted 9 February 2014 Posted 9 February 2014 You wanted an alternative, I gave it you. Take it or leave it! No, I asked you how you would grow the economy. You presented me a video on how someone wants to change the banking system. Maybe that would engender growth but I think there are more practical measures that need to be in place in parallel with any banking reforms. As a matter of interest, is this bank reforming system a part of the Labour party's proposed manifesto?
l444ry Posted 9 February 2014 Posted 9 February 2014 We have the fastest growth in Europe already. We all know about fractional reserve banking, there have been enough videos on here that explain it better than that. It seems rather simplistic rather than a simple solution " The BoE will create money and use it to create jobs" no explanation on how it would use the money. I would I be able to borrow some money from them to buy a house/car/holiday? Does the govt get to pick which businesses should have the benefit of their largess ? Trying hard to keep this as simple as possible Webbo. I've posted far more in depth videos concerning money creation on here previously. And why shouldn't the government choose their targets for economic strategy? It's happening now with HS2 for instance.
l444ry Posted 9 February 2014 Posted 9 February 2014 No, I asked you how you would grow the economy. You presented me a video on how someone wants to change the banking system. Maybe that would engender growth but I think there are more practical measures that need to be in place in parallel with any banking reforms. As a matter of interest, is this bank reforming system a part of the Labour party's proposed manifesto? They haven't got a manifesto yet Smudge. Doubt it would be in it anyway as they seem to think they have to pander to the Tory agenda.
Webbo Posted 9 February 2014 Posted 9 February 2014 Trying hard to keep this as simple as possible Webbo. I've posted far more in depth videos concerning money creation on here previously. And why shouldn't the government choose their targets for economic strategy? It's happening now with HS2 for instance. Because as we know from the 70s the govt is useless at picking winners. A govt minister with no experience of the business he is presiding over will decide which business will succeed rather than letting all the businesses compete against each other and letting the market/ general public, decide which one is best. The HS2 is a silly comparison as the building/running of the line will go out to tender.
Smudge Posted 9 February 2014 Posted 9 February 2014 They haven't got a manifesto yet Smudge. Doubt it would be in it anyway as they seem to think they have to pander to the Tory agenda. In which case, I hope you'll agree, that isn't going to happen anytime soon. Growth and I hope you mean the growth in income, is the way forward along with prudent cuts in government spending. That way the deficit continues to reduce to surplus again and only then can you reduce the debt. The problem in the recent past is that growth had slowed and spending unaltered. The country has to pay it's bills and that can only come from borrowing more until the situation is reversed. It is what it is, whoever is to blame. The important part is that we get it right for the future. Back on topic, monitoring fraudulent or unnecessary claims for benefits may only be some of the problem but it does need addressing. Not living there, I'm not au fait with where this growth is going to come from, hence the question. In the meantime, spending has to be reduced otherwise the debt will continue to rise.
l444ry Posted 9 February 2014 Posted 9 February 2014 Because as we know from the 70s the govt is useless at picking winners. A govt minister with no experience of the business he is presiding over will decide which business will succeed rather than letting all the businesses compete against each other and letting the market/ general public, decide which one is best. The HS2 is a silly comparison as the building/running of the line will go out to tender. Because as we know from the 70s the govt is useless at picking winners. A govt minister with no experience of the business he is presiding over will decide which business will succeed rather than letting all the businesses compete against each other and letting the market/ general public, decide which one is best. The HS2 is a silly comparison as the building/running of the line will go out to tender. Hasn't this government decided that it will build HS2 as its strategy? and won't HS2 be paid for by the taxpayer out of central government funds?
Webbo Posted 9 February 2014 Posted 9 February 2014 Hasn't this government decided that it will build HS2 as its strategy? and won't HS2 be paid for by the taxpayer out of central government funds? The govt decides to build roads, schools, fire stations, hospitals that's always happened that doesn't make them fit to decide who should make our computers, cars, furniture etc. As I said it's a silly comparison.
l444ry Posted 9 February 2014 Posted 9 February 2014 The govt decides to build roads, schools, fire stations, hospitals that's always happened that doesn't make them fit to decide who should make our computers, cars, furniture etc. As I said it's a silly comparison. I see you're still an expert at moving the goalposts Webbo!
Webbo Posted 9 February 2014 Posted 9 February 2014 I see you're still an expert at moving the goalposts Webbo! No you moved the goal posts, I said; Because as we know from the 70s the govt is useless at picking winners. A govt minister with no experience of the business he is presiding over will decide which business will succeed rather than letting all the businesses compete against each other and letting the market/ general public, decide which one is best. And you brought up HS2 which isn't a business but a train track.
l444ry Posted 9 February 2014 Posted 9 February 2014 No you moved the goal posts, I said; And you brought up HS2 which isn't a business but a train track. Correct. A strategic train track paid for out of government central funds. It's all taxpayers money as far as I am concerned.
cambridgefox Posted 10 February 2014 Posted 10 February 2014 In the UK we pay the banks a staggering £192 million in interest rates............... per day!!! That's right folks, subsidising the banks through bailouts and quantitative easing to the tune of around £2 trillion (£46,000 per adult) wasn't enough. They still have the ability to create money from thin air and to lend it back to us at extortionate rates. What a crying shame that so many working class people are dancing to the Tory tune and get things out of proportion. Now you seem an intelligent bloke and I may have missed something,but the banks do not create money out of thin air.There is such a thing called Capital Ratio.Which is 110%.Therefore if they had 1 mill in deposits you couldn't exceed that in loans.What are your views on the proposal from Labour to split the banks and the advantage to us the public?Just interested.
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