£155 Billion deficit

[Hibbyradge]

We're continually told that every country in the capitalist world is in debt up to its eyeballs, if countries have eyeballs, that is.

However, who do we owe all this money to?

[greenlex]

Whoever gave us it. Government bonds will have been sold to raise the cash I would imagine. Rich Arabs like ti get their mits on them.
See banks. **** the lot if them. The government should buy out the remaining shares in one we mostly own and have a national bank that's there fir non profit. Everyone banks with it. It's not in ant danger if we run it properly and just let the rest if tem take as many risks as they want. They go bust they go bust.

[Lucius Apuleius]

We're continually told that every country in the capitalist world is in debt up to its eyeballs, if countries have eyeballs, that is.

However, who do we owe all this money to?

A question I asked the other day actually. Cannot remember if it was on here or not. Who the hell is the World Bank? Who owns it? We never hear of their accounts and how well they are doing.

[Beefster]

Whoever gave us it. Government bonds will have been sold to raise the cash I would imagine. Rich Arabs like ti get their mits on them.
See banks. **** the lot if them. The government should buy out the remaining shares in one we mostly own and have a national bank that's there fir non profit. Everyone banks with it. It's not in ant danger if we run it properly and just let the rest if tem take as many risks as they want. They go bust they go bust.

Will the government tell us which supermarket we have to use too?

[Betty Boop]

A question I asked the other day actually. Cannot remember if it was on here or not. Who the hell is the World Bank? Who owns it? We never hear of their accounts and how well they are doing.

Apparently the World Bank is a co-operative of 187 member countries who are share holders.

[Wembley67]

A question I asked the other day actually. Cannot remember if it was on here or not. Who the hell is the World Bank? Who owns it? We never hear of their accounts and how well they are doing.

Ask Bilderberg :cool2:

http://en.wikipedia.org/wiki/Bilderberg_Group

[Lucius Apuleius]

Apparently the World Bank is a co-operative of 187 member countries who are share holders.


Ask Bilderberg :cool2:

http://en.wikipedia.org/wiki/Bilderberg_Group

I want to buy shares in it!!!!! :greengrin

[bighairyfaeleith]

Will the government tell us which supermarket we have to use too?

probably, ****ing tories:grr::greengrin

[khib70]

Whoever gave us it. Government bonds will have been sold to raise the cash I would imagine. Rich Arabs like ti get their mits on them.
See banks. **** the lot if them. The government should buy out the remaining shares in one we mostly own and have a national bank that's there fir non profit. Everyone banks with it. It's not in ant danger if we run it properly and just let the rest if tem take as many risks as they want. They go bust they go bust.
Aye right, centralised economic planning, state controlled command economy. That worked really well last time:rolleyes:. And there's always these nice Gulags for anyone who doesn't like it.

[Green Mikey]

The Labour governent has to bear a considerable amount of blame for the current deficit as well as the banks. Regardless of the fact that it was weak regulation introduced by Labour that had allowed banks to behave irresponsibly it has to be noted we had a budget deficit before the credit crunch.

The budget deficit grew exponentially under Labour prior to the credit crucnh and this does not take into account the 'off balance sheet' PFI projects that were prevalent during that time. The credit crunch massively exacerbated this problem and has caused the deficit to grow to a previously unforeseen level. However we were already in dire fiscal straits and personally I believe this is one of the reasons that the banks were given free reign because the govenment needed tax revenues to fuel ever increasing spending.

In my opinion, fiscal irresponsibilty and unsound economics are are the defining characteristics of the Brown chancellorship/premiership and is the legacy of New Labour.

[Mibbes Aye]

We're continually told that every country in the capitalist world is in debt up to its eyeballs, if countries have eyeballs, that is.

However, who do we owe all this money to?

The figure you cited isn't the national debt. The deficit is the difference between what we are spending and what we are earning.

The national debt is a much, much higher figure and is the sum of all that the government is liable to pay over future years.

In answer to whom do we owe money to, much is owed to those who have bought Government bonds, which mature at different times and with different yields.

Different investors buy these, but they are popular for example, with insurance companies and pension funds because they offer a pre-determined return that's pretty much as guaranteed as they come.

[heretoday]

The Tories are always telling us that the private sector will be the saviours of us all. Well why don't they put some money now into new enterprises and invest in promising businesses instead of imposing such huge cuts?

I for one didn't benefit particularly from the boom years nor did I suffer unduly from the crash. It happened to other people.

I'm going to get hit by the cuts like everyone else though. I wish I'd not been so flipping prudent now!

[Betty Boop]

Did anybody watch Dispatches last night. How the rich, and politicians avoid paying their dues, while telling the rest of us minions we must suffer. :grr
We are all in this together ! :rolleyes:

http://www.channel4.com/programmes/dispatches/4od#3129949