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economic situation is dire


ianrobo1
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Reducing interest rates won't do anything by themselves.

But running the printing presses will generally increase incomes and thus get debt:income ratios back to sustainable levels. It's probably not as effective a solution as debt restructuring/bankruptcy, but it requires less work initially.

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honestly can someone explain why these bad debts on a one off basis can not simply be written off ?

they are worthless so say you print more money to buy them then how will the banks then use this money, if it is simply to steady their balance sheets then that will have no serious impact will it ?

no idea why the BofE have reduced rates, pointless

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The rate cut will have no effect. A large majority of mortgage customers are on fixed rates and plenty of trackers are hitting their cuffs now. As it will have little or no effect on the supply of credit available at this point it would have been better holding this 'weapon' back.
This is just plain silly now. In fact this is probably storing up problems for the future when (if) the recovery comes and inflation starts becoming an issue again.
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The riot season is nearly upon us.

Attention overseas VTers. Don't book any trips to London in May

You're kidding right? I wouldn't miss it!

Rope? Check.

V for Vendetta mask? Check.

Whose who of Westminster(in colour)? Check.

Guy Fawkes was a **** amateur.

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well we know the amount being printed is 75bn which in relevant terms is quite low

but listening to the shadow cheif sec Phillip Hammond on R5 he admitted from a Tory for the first time that whilst it was going ito the unknown it was measure the tories would have looked at in these 'exceptional circumstances'

of course like Osbourne's comments today n alternative given

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well we know the amount being printed is 75bn

The first step is that amount - the 'maximum' is £150 thousand million.

That 'maximum' though is to always be under review according to Darling's letter, I believe.

Probably dependent on whether Jacqui Smith needs to up her housing claim. It's an expensive business you know.

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well we know the amount being printed is 75bn

The first step is that amount - the 'maximum' is £150 thousand million.

That 'maximum' though is to always be under review according to Darling's letter, I believe.

Probably dependent on whether Jacqui Smith needs to up her housing claim. It's an expensive business you know.

:crylaugh: :crylaugh:

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yes and I am trying to get these figures into my head am I right in thinking that £75bn equates to just 50000 £150k mortgages

total mortgages around 20 million, those figures show just how much debt is a cumalted and that is without buisness debt and personal loans

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Probably dependent on whether Jacqui Smith needs to up her housing claim. It's an expensive business you know

Surely you mean Julian Lewis .......ooops sorry we are not allowed to mention THAT party are we ......

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Probably dependent on whether Jacqui Smith needs to up her housing claim. It's an expensive business you know

Surely you mean Julian Lewis .......ooops sorry we are not allowed to mention THAT party are we ......

Says who? They're all equally corrupt, the difference is the Tories are at least competent so it's easier to forgive.

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yes and I am trying to get these figures into my head am I right in thinking that £75bn equates to just 50000 £150k mortgages

total mortgages around 20 million, those figures show just how much debt is a cumalted and that is without buisness debt and personal loans

1,000,000,000 is a billion, so it would be 500,000 not 50,000.

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They're all equally corrupt, the difference is the Tories are at least competent so it's easier to forgive

Competent at being hypocrites?

Competent at flagrantly getting round Tax laws?

Competent at finding ways around laws on political donations?

Competent at political point scoring?

Competent at hating the working class?

Competent at wanting to remove social safeguards like minimum wage?

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Probably dependent on whether Jacqui Smith needs to up her housing claim. It's an expensive business you know

Surely you mean Julian Lewis .......ooops sorry we are not allowed to mention THAT party are we ......

By all means mention Dr Lewis - just be very. very careful what you say about him as he is, it appears, a very litigous person. :D

As well as wanting to be very secretive about his expenses.... (that's correct as he was one of the people pushing for no publication of MPs' expenses).

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They're all equally corrupt, the difference is the Tories are at least competent so it's easier to forgive

Competent at being hypocrites?

Competent at flagrantly getting round Tax laws?

Competent at finding ways around laws on political donations?

Competent at political point scoring?

Competent at hating the working class?

Competent at wanting to remove social safeguards like minimum wage?

Ooh, I bet that felt good! :lol:

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