Omega Owners Forum

Please login or register.

Login with username, password and session length
Advanced search  

News:

Search the maintenance guides for answers to 99.999% of Omega questions

Pages: 1 [2] 3  All   Go Down

Author Topic: Govt borrowing.  (Read 1669 times)

0 Members and 1 Guest are viewing this topic.

albitz

  • Guest
Re: Govt borrowing.
« Reply #15 on: 21 September 2011, 12:41:16 »

Which is why we need to be competitive. ;)
Logged

cem_devecioglu

  • Guest
Re: Govt borrowing.
« Reply #16 on: 21 September 2011, 12:49:27 »

Quote
Which is why we need to be competitive. ;)

Albs, quality production can never compete with ordinary mass production because of cost..

But I dont think Brits will decrease their production standards unless they change their numerous laws and way of thinking.. :-/

let me repeat an old saying here: if you are going to be hanged be sure its a British rope ;D
« Last Edit: 21 September 2011, 12:50:40 by cem_devecioglu »
Logged

Varche

  • Omega Queen
  • *****
  • Offline Offline
  • Gender: Male
  • middle of Andalucia
  • Posts: 14011
  • What is going to break next?
    • Golf Estate
    • View Profile
Re: Govt borrowing.
« Reply #17 on: 21 September 2011, 16:53:50 »

Quote
Quote
13 billion in one month though Cem. A lot of money by anyones standards.Debt is at an unprecedented level already and yet we are borrowing more than ever before. Cant be good.
Call me old fashiolned, but to start repaying debt, you need to stop borrowing, then spend less then your income. Otherwise you can never start to repay the debt.
There is waste on a grand scale all over this country, but everyone seems to think that it should be someone else who is responsible for making cutbacks and savings.

Trouble is Albs that it takes years to make the changes (as they should ahev been started years ago and argueably been more under control 10 years ago!)

The key thing is that we are doing something....unlike Greece and Spain, and the consequence is that the organisations that have loaned them money are not confident they will get it back so the credit rate drops, the interest rate goes up (because they are higher risk) and they spiral into effective insolvency.

The spend approach is an interesting scenario as well, yes it would potentialy kick start the economy (but only slightly) however, it would not be doing anything to address debt, in fact it would be making it worse.

This is the point your lenders go 'ow, your in debt and spending still'...bad credit rating arrives, cost of the debt goes up.....and the consequences are worse!

To me the spend approach only works if you have some debt but not a stupid amount, sadly we have a stupid amount!  ;D

What a load of rubbish. You make it sound as though neither Greece or Spain are doing ANYTHING to tackle the problem. Haven't you noticed that the Greeks are rioting? Why? well public pay has been cut by up nto 20%. A better thing to say was they are not doing enough at this late stage in the day.  I agree with your remaining summation of the situation.

The problem with it all is where will it end?

Germany needs the rest of Europe to keep buying its goods but will Germany bail out the eurozone PIIGS. Don't think so. So when Greece etc have to leave the Euro and the euro then strengthens but the drachma and peseta (or whatever) weaken the PIIGS won't have the cash anymore to buy German goods. Same applies to China and America. It might just be that eally bad times are ahead for a large % of the world not just Greece,Spain etc.

Albs- glad you picked up on the terrible waste of money on the regional (never to be used) fire centres. Yet another example to add to my already huge list of waste on galactic scale by Britain. It might have been a Prescott project but others were in on it too.

I notice you didn't mention anything about yet another banking fiasco. Rogue trader done it again. 1.3 billion or was it 2.5 billion. The bank doesn't actually really know. Really encouraging for mere mortals who will foot the bill for his actions. I still hate the banks.

Lovely story in the local Scarborough paper about a tree. It has cost the local council 1/4 million pounds to fight a person over a six year fight to fell a 100 year old beech tree with a preservation order. You couldn't make it up. Of course the tree is still standing. Where is Swampy when you need him , we have had to make do with Snuz..
Logged
The biggest joke on mankind is that computers have started asking humans to prove that they aren’t a robot.

albitz

  • Guest
Re: Govt borrowing.
« Reply #18 on: 21 September 2011, 17:38:08 »

A single rogue trader. There will always be the potential for someone like that in any workplace. It hasnt cost us any money.Cost his employer a fortune of course.He doesnt have it stuffed in his mattress. He was chasing losses and got way past the point of no return, but went into denial and carried on.His immediate boss and the head of risk at the bank, should be sacked immediately imo.
They should have picked up on his problems, long before it ever got that far. ;)
When Greece leaves the Euro I dont think it will strengthen by any sustainable amount or lengthy period of time. Imo it will probably start a domino effect, Portugal, Spain, Republic of Ireland,and then when it gets toItalys turn, its curtains for the whole ill concieved project. ;)
By that time though, the U.S. might be bust too, so were all in deep shite.
The end of the western world being the dominant force in economic terms ? Only time will tell. ;)
« Last Edit: 21 September 2011, 17:38:47 by albitz »
Logged

cem_devecioglu

  • Guest
Re: Govt borrowing.
« Reply #19 on: 21 September 2011, 17:40:31 »

Quote
Quote
Quote
13 billion in one month though Cem. A lot of money by anyones standards.Debt is at an unprecedented level already and yet we are borrowing more than ever before. Cant be good.
Call me old fashiolned, but to start repaying debt, you need to stop borrowing, then spend less then your income. Otherwise you can never start to repay the debt.
There is waste on a grand scale all over this country, but everyone seems to think that it should be someone else who is responsible for making cutbacks and savings.

Trouble is Albs that it takes years to make the changes (as they should ahev been started years ago and argueably been more under control 10 years ago!)

The key thing is that we are doing something....unlike Greece and Spain, and the consequence is that the organisations that have loaned them money are not confident they will get it back so the credit rate drops, the interest rate goes up (because they are higher risk) and they spiral into effective insolvency.

The spend approach is an interesting scenario as well, yes it would potentialy kick start the economy (but only slightly) however, it would not be doing anything to address debt, in fact it would be making it worse.

This is the point your lenders go 'ow, your in debt and spending still'...bad credit rating arrives, cost of the debt goes up.....and the consequences are worse!

To me the spend approach only works if you have some debt but not a stupid amount, sadly we have a stupid amount!  ;D

What a load of rubbish. You make it sound as though neither Greece or Spain are doing ANYTHING to tackle the problem. Haven't you noticed that the Greeks are rioting? Why? well public pay has been cut by up nto 20%. A better thing to say was they are not doing enough at this late stage in the day.  I agree with your remaining summation of the situation.

The problem with it all is where will it end?

Germany needs the rest of Europe to keep buying its goods but will Germany bail out the eurozone PIIGS. Don't think so. So when Greece etc have to leave the Euro and the euro then strengthens but the drachma and peseta (or whatever) weaken the PIIGS won't have the cash anymore to buy German goods. Same applies to China and America. It might just be that eally bad times are ahead for a large % of the world not just Greece,Spain etc.

Albs- glad you picked up on the terrible waste of money on the regional (never to be used) fire centres. Yet another example to add to my already huge list of waste on galactic scale by Britain. It might have been a Prescott project but others were in on it too.

I notice you didn't mention anything about yet another banking fiasco. Rogue trader done it again. 1.3 billion or was it 2.5 billion. The bank doesn't actually really know. Really encouraging for mere mortals who will foot the bill for his actions. I still hate the banks.

Lovely story in the local Scarborough paper about a tree. It has cost the local council 1/4 million pounds to fight a person over a six year fight to fell a 100 year old beech tree with a preservation order. You couldn't make it up. Of course the tree is still standing. Where is Swampy when you need him , we have had to make do with Snuz..

Varche, if we talk the reality about Greece, for many years they lived with helps of EU, tourism and low interest credits.. show me something industrial (not food or simple things) that they produce and  sell internationally.. I'm afraid even sea is finished (local saying) so its time to start work!!
Logged

Marks DTM Calib

  • Administrator
  • *****
  • Offline Offline
  • Gender: Male
  • West Bridgford
  • Posts: 34026
  • Git!
    • View Profile
Re: Govt borrowing.
« Reply #20 on: 21 September 2011, 17:46:05 »

Greece are not doing anything, its ok cutting wages, they need to go and collect taxes as its a country where they appear to be optional and sort out why your average train driver retires at 55!

« Last Edit: 21 September 2011, 17:46:33 by Mark »
Logged

cem_devecioglu

  • Guest
Re: Govt borrowing.
« Reply #21 on: 21 September 2011, 18:03:18 »

and look in Spain , obvious why they are bankrupt
http://daniel-workman.suite101.com/top-spanish-exports-imports-a29717

their yearly budget balance highly depends on tourism income.. and also they increased their prices before  the crysis hits the tourism .. so no surprise there..
http://www.tradingeconomics.com/spain/government-budget
« Last Edit: 21 September 2011, 18:06:46 by cem_devecioglu »
Logged

STMO123

  • Guest
Re: Govt borrowing.
« Reply #22 on: 21 September 2011, 18:17:06 »

The Euro region is the second biggest economy in the world. When(if) they get over their differences and go for fiscal union as well as monetary union, it will work just fine.
The Germans and French were the architects of a united Europe but, as is human nature, they won't protect that union by injecting the necessary funding.
The periphery Countries need German and French money but refuse to give up their sovereignty.
« Last Edit: 21 September 2011, 18:17:23 by STMO123 »
Logged

cem_devecioglu

  • Guest
Re: Govt borrowing.
« Reply #23 on: 21 September 2011, 18:32:30 »

Quote
A single rogue trader. There will always be the potential for someone like that in any workplace. It hasnt cost us any money.Cost his employer a fortune of course.He doesnt have it stuffed in his mattress. He was chasing losses and got way past the point of no return, but went into denial and carried on.His immediate boss and the head of risk at the bank, should be sacked immediately imo.
They should have picked up on his problems, long before it ever got that far. ;)
When Greece leaves the Euro I dont think it will strengthen by any sustainable amount or lengthy period of time. Imo it will probably start a domino effect, Portugal, Spain, Republic of Ireland,and then when it gets toItalys turn, its curtains for the whole ill concieved project. ;)
By that time though, the U.S. might be bust too, so were all in deep shite.
The end of the western world being the dominant force in economic terms ? Only time will tell. ;)

when US will go in deeper trouble I'm afraid they will start big wars and balance their budget by "free" imported goods ;D :D
Logged

albitz

  • Guest
Re: Govt borrowing.
« Reply #24 on: 21 September 2011, 19:51:22 »

Quote
The Euro region is the second biggest economy in the world. When(if) they get over their differences and go for fiscal union as well as monetary union, it will work just fine.
The Germans and French were the architects of a united Europe but, as is human nature, they won't protect that union by injecting the necessary funding.
The periphery Countries need German and French money but refuse to give up their sovereignty.

It will never happen Steve. ;)
Logged

cem_devecioglu

  • Guest
Re: Govt borrowing.
« Reply #25 on: 21 September 2011, 20:51:04 »

problem with the EU is that local politicians will never accept to share their power and decisions with the EU management .. there cant be 2 cockosh in the hutch ;D ;D
Logged

tmx

  • Omega Baron
  • *****
  • Offline Offline
  • Gender: Male
  • Herefordshire
  • Posts: 2131
    • 3.2 MV6 2002
    • View Profile
Re: Govt borrowing.
« Reply #26 on: 21 September 2011, 22:28:45 »

Greece is sitting on a potential massive Gas mine if Europe take over you can guarentee BP will be their!!!!!

i feel we are going into a nwo the banks are allowed free reign and basically run the governments Rothschild Reserve Rocker-fellers etc they are the real masters of the world

The devaluation of currency is all part of their plan make us all virtually poor so they can get their way and WW3 is looming america is loosing its grip Fema camps what are they for eh! POW camps more like

9/11 was an inside job the proof is their on Youtube / Live leak but still nobodys held the US to account

heres news for you Bin Laden was never killed in 2011 theres alot of truth in the theory he died in 2002-2005  and was cryogenically frozen by the government ready to be released as some propaganda at a later date hence no pictures!

this is my opinion on whats going on some may say crazy but i dont believe anything from BBC or Sky / CNN anymore time and time again the mainstream media have been proven to be talking nonsense
Logged

aaronjb

  • Guest
Re: Govt borrowing.
« Reply #27 on: 21 September 2011, 22:35:00 »

Quote
Quote
The Euro region is the second biggest economy in the world. When(if) they get over their differences and go for fiscal union as well as monetary union, it will work just fine.
The Germans and French were the architects of a united Europe but, as is human nature, they won't protect that union by injecting the necessary funding.
The periphery Countries need German and French money but refuse to give up their sovereignty.

It will never happen Steve. ;)

I bet it will..

Germany: "Give us control or we stop the EU bailing you out."
Greece: "Ok"
Germany: "Thanks, welcome to the United States of Europe."

Easy.
Logged

Nickbat

  • Guest
Re: Govt borrowing.
« Reply #28 on: 21 September 2011, 22:42:38 »

Quote
9/11 was an inside job the proof is their on Youtube / Live leak but still nobodys held the US to account

heres news for you Bin Laden was never killed in 2011 theres alot of truth in the theory he died in 2002-2005  and was cryogenically frozen by the government ready to be released as some propaganda at a later date hence no pictures!

...and "gullible" is the only word in common usage that does not appear in the OED.  ;)
Logged

tmx

  • Omega Baron
  • *****
  • Offline Offline
  • Gender: Male
  • Herefordshire
  • Posts: 2131
    • 3.2 MV6 2002
    • View Profile
Re: Govt borrowing.
« Reply #29 on: 21 September 2011, 22:46:03 »

you may say that yes but i'm afraid the story released by the US government is completely infallible they only went to pakistan to make it look like they harbour terrorists so they can goto war with them but pakistan is in bed with China and thats why theres so much media attention going on over their China are even building naval basses their now! preparing for ww3?
Logged
Pages: 1 [2] 3  All   Go Up
 

Page created in 0.013 seconds with 16 queries.