It has been announced that the government are nationalising 'tempoarily' the Northern Rock bank. £120billion will be added to the public debt. Of course this also means that the government are now the official sponsors of Newcastle United FC - poetic! The stock and currency markets will be interesting tomorrow.
It will be interesting to see what this does to the value of currency. Must be downward but perhaps the N Rock impact has already been factored in.
Shoves Public debt up to 45% of GDP. Seriously high.
Their intention is to do a deal with someone, the question is how long will it take and how much will they get?
They've already spent 55 billion pounds plus... yep you read that right... BILLION!!!
According to the bbc that's more than was spent on the entire armed forces this year... and lest we forget - they are actively involved in two wars... and doing their bit to stir the ************************ in several others...
Two words: Moral Hazard.
08 is going to be fun.
Je suis un loo-lah
Is the great neo-liberal experiment over?
Voters don't decide issues, they decide who will decide issues.
George Will
What the hell are you talking about?
"Are you telling me that a computer, a robot and my wife would create a "natuarlly balanced" society? The consequences are too monstrous to contemplate.."
-farnaby.
It's certainly in its dying days. By 2010 even the most bone-headed cheerleader of Privateer voodoonomics will have to accept that their ridiculous illiterate ideology failed.
Je suis un loo-lah
Originally Posted by Sidewinder
It always does - leaving the state to pick up the pieces.They had to use state socialism to get out of the Great Crash in the US in the 1930s.
Round and round it goes.
It always does - leaving the state to pick up the pieces.They had to use state socialism to get out of the Great Crash in the US in the 1930s.
Voters don't decide issues, they decide who will decide issues.
George Will
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