UK - double dip recession

[off2bed]

How's that Conservative/Liberal coalition working out for you?

http://www.cnbc.com/id/47169446

 

[semen4her]

*insert derp here*

 

[cjh]

hasn't the UK embarked on a draconian austerity program?

 

[oggbashan]

hasn't the UK embarked on a draconian austerity program?

Yes. Some of the bad figures are caused by that. Some are caused by recession in the Euro zone.

Raising sales tax (VAT) and fuel taxes don't help, except to reduce our forecast deficit.

Lending 10 billion pounds to the IMF mainly to bail out Euro countries is also unpopular.

The Coalition government expects to be unpopular. The Labour Party still thinks that the UK can spend its way out of trouble by borrowing more money. The deficit we already have was not helped by the last Labour government's spending when they knew that the UK economy was in trouble but wouldn't admit it.

Whichever political party had won the last election they would have had to take unpopular decisions about cutting spending and raising taxes.

 

[Wrong Element]

hasn't the UK embarked on a draconian austerity program?

Pretty much the Tea Party playbook for America. Blimey.

 

[off2bed]

How exactly does leaving more money in the private sector cause the private sector to reduce economic activity?

 

[mercury14]

How exactly does leaving more money in the private sector cause the private sector to reduce economic activity?

Government spending doesn't take money out of the private sector. Quite the opposite.

You're thinking of taxes.

 

[oggbashan]

Government spending doesn't take money out of the private sector. Quite the opposite.

You're thinking of taxes.

But spending more than you have, which is what successive UK (and Eurozone countries) had/have been doing, produces larger debts and the consequent interest payments on the loans get bigger.

If the markets think the country is unlikely to be able to repay the loans on time, the interest rates increase, the repayments get larger and the country's finances are in the shitter.

It's the same as an individual running up credit card debt. If you can't repay the full amount each month, the total that has to be eventually repaid increases.

 

[off2bed]

Government spending doesn't take money out of the private sector. Quite the opposite.

You're thinking of taxes.

Good God. Where the fuck does government get the money from except by taking it out of the private sector through taxation. Surely you don't think they get it fresh from the printing press? If so, then why do they tax us?

You need a do-over.

 

[oggbashan]

Good God. Where the fuck does government get the money from except by taking it out of the private sector through taxation. Surely you don't think they get it fresh from the printing press? If so, then why do they tax us?

You need a do-over.

Quantative Easing IS money fresh from the printing press.

In the good old days of Boom/Bust it was called devaluation and was a BAD THING until your party did it.

 

[hobbit.]

the workers get poorer, yet the bankers still get bonuses. Bring back armed robbery i say and shoot a few 'innocent' bankers in the process.

 

[blunt_trauma]

hasn't the UK embarked on a draconian austerity program?

austerity?
the very first move here was to ration incontinence pads. fucking incontinence pads! yes, the elderly and disabled are only allowed to soil themselves 4 times a day now. gotta save money! it makes me livid.
politicians are bastards, born with silver spoons in their over fed gobs, putting their homes down as expenses on the tax payers £ whilst claiming we can't afford to spend so much on the most vulnerable people in the country.

austerity only applies to the poor.

 

[Sean Renaud]

How exactly does leaving more money in the private sector cause the private sector to reduce economic activity?

More people with money make more purchases than a few people with a lot of money. It's really simple math once you get down to it.

 

[butters]

austerity?
the very first move here was to ration incontinence pads. fucking incontinence pads! yes, the elderly and disabled are only allowed to soil themselves 4 times a day now. gotta save money! it makes me livid.
politicians are bastards, born with silver spoons in their over fed gobs, putting their homes down as expenses on the tax payers £ whilst claiming we can't afford to spend so much on the most vulnerable people in the country.

austerity only applies to the poor.

good girl





re the OP:

as for the 'coalition' part, it barely registers. almost everyone considers it a tory government, plain and simple.

 

[Liar]

as for the 'coalition' part, it barely registers. almost everyone considers it a tory government, plain and simple.

I thought it was commonly known by now that Clegg got bamboozled into being a lapdog with a promise to look at electoral reform.

 

[JohnnySavage]

Good God. Where the fuck does government get the money from except by taking it out of the private sector through taxation. Surely you don't think they get it fresh from the printing press? If so, then why do they tax us?

You need a do-over.

It's entertainment like this that keeps me coming back to the Literotica.

 

[off2bed]

If all we need to get out of debt is quantitative easing, why aren't we doing that? Lower tax rates to zero, print money, let the good times roll.

Sean, you still haven't learned that half of Americans pay zero income tax, so a tax cut for them is a moot point. Can you comprehend that?

I can't believe this is such a difficult concept for people to grasp.

 

[MonaLittle]

/hijack

Please do not use the phrase "double dip" while I am horny and on my way to work


/thank you

 

[Ishmael]

Government spending doesn't take money out of the private sector. Quite the opposite.

You're thinking of taxes.

LMAO. Nomination for the stupidest post of the year.

Ishmael

 

[4est_4est_Gump]

LMAO. Nomination for the stupidest post of the year.

Ishmael

He just doesn't get it when it comes to money.

 

[off2bed]

He just doesn't get it when it comes to money.

His wife handles all the difficult stuff around the house.

 

[4est_4est_Gump]

His wife handles all the difficult stuff around the house.

You mean Bob?

 

[unregistered]

 

[off2bed]

You mean Bob?

Bob is his wife?

 

[off2bed]

Hey Merc, when the US government owes trillions to China, does that not take money out of America's private sector when make debt payments?