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Economists urge swift action to reduce budget deficit 
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belchingmatt wrote:
MrStevenRogers wrote:
Amnesia10 wrote:
All the PIIGS have had two things in common. The Euro but that was not the cause of their problems. Though a related reason was. Because they were part of the Euro they had much lower interest rates than their economies could have coped with. That brings us to the real reason for their similarity. They all had property booms funded with cheap money. The governments failed to rein in this boom because it suited them. The same applied to the UK.


not withstanding that we have (UK) a 20% holding/ownership for the Greek Govt debts via their bonds …


That 20% will probably be used by the elite to escape this country and own another when the sh!t hits the fan (again) here.


the sh!t here is about to hit the fan just after the next GE and there is no get out of jail card free option …

welcome to the leading 2nd world nation on the planet …

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Mon Feb 15, 2010 5:18 pm
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eddie543 wrote:
Amnesia10 wrote:
Yes the benefits safety net is very helpful. It will help us considerably as a nation. The US will have horrendous problems because their benefits expire after a while. Even so years on the dole can have a detrimental impact on peoples health and mental wellbeing.

As for us been much wealthier that is debatable. We have considerably higher debts alongside the rise in house prices. And much of that increase in wealth has been channeled towards the very richest already, as in the US. Low paid work is no better off in real terms as real effective inflation has been higher than the headline rates, which effect minimum wage rates.

Well most houses now have 3 tvs, a gaming console, a computer, the internet, an extensive dvd video collection, two cars and various other things that were invested since 1980 or have become cheaper or more accessable.

Wealth is a difficult word for it but people aren't in absolute poverty anymore most people have more disposable time and disposable income (regardless of whether they amass debts with it.)

Yes but poverty is comparative. It is defined as being less than half the median pay. While cheap chinese imports have reduced the material costs of poverty you can see kids getting stigmatised because they get free school dinners, cannot afford the latest gadgets. In the US more than 4 million people will lose their unemployment benefits by the end of June, without an extension of unemployment benefits. Then charity and food stamps is the best that they can hope for until they find work. At least in Europe we are more civilised than that.

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Mon Feb 15, 2010 8:57 pm
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Amnesia10 wrote:

Yes but poverty is comparative. It is defined as being less than half the median pay. While cheap chinese imports have reduced the material costs of poverty you can see kids getting stigmatised because they get free school dinners, cannot afford the latest gadgets. In the US more than 4 million people will lose their unemployment benefits by the end of June, without an extension of unemployment benefits. Then charity and food stamps is the best that they can hope for until they find work. At least in Europe we are more civilised than that.

That's why I said absolute poverty REAL poverty not relative poverty.

Fact of the matter is thaty the benifits underneath most people who would be classed as being under the poverty line however they got free school meals ( I don't remember anyone being stigmatised for that, I remember cadging the tickets and lads selling thier tickets to other people so that is a ludicris suggestion and probably only occurs in schools with high proportions of middle class), thier parents child allowance, child benifit or working familly tax credits or child tax credits, jsa, income support and whatever else is applicable whether in employment or not.
Also most kids from poorer backgrounds had more consoles and gadgets than I had and no one got stigmatised for not having an Ipod or new phone FFS mine was a 3 year old flip phone no one gave a [LIFTED].

Usually a child gets stigatised when all the benifits that should be for maintainence of a child go to the pub or other self serving means so the child has old clothes or is physically or psychologically abused so he can't function in social circles. Then they get stigmatised for everything they are missing just because kids get cruel. Fact is that people make most their own problems in this country by and large.
We should have a scheme whereby you work minumum wage on community efforts and internships subsidised by the Gov't after someone has been unemployed for longer than a year. So they can get referencing and used to working communities again and it also keeps thumbs from the devil.


Mon Feb 15, 2010 9:21 pm
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