IIRC – although prepared to be shot down on this – Thatcher had little choice. She inherited a massive deficit/debt and went cap in hand to the IMF who said ‘no’, unless she sold off the various nationalised institutions/assets to raise the money to enable the UK to pay off the loan from the IMF at inflated interest.

Hence, BT, utilities were sold too cheaply, council houses etc etc.

The rest, as they say, is history. Not-for-profit nationalised industries with low re-investment, low productivity and bad management were replaced with healthy short term shareholder profit, low reinvestment, mediocre productivity and bad management companies.

Blair and co then got really carried away with the whole scam of quick profit with money that doesn’t exist and went so far as to sell all our gold (which really did exist) for more money that doesn’t exist.

Blaming bankers is cool, although I suspect that whilst they were investing money that didn’t exist in their own get-rich-quick schemes, we were also more than happy to take up the plethora of cheap loans, mortgages, credit etc etc with more money that didn’t exist. So, in some way, we can all take some credit for the state of things.

I like Zimbo’s idea. If the plan is to re-capitalise the banks, then why not pay off everyone’s loans? That way the banks get their money and many people are not having to service their debts and buy a pint of milk. Unfortunately, the problem with this is that there is no real money… none of it exists – hence the few mouse clicks.

I suppose there’d be a slight difference. A Labour government would have slipped us fully into the EZ* and so we’d be throwing someone else’s money at it which we’d then pay back with interest, although not as much interest as they’ll be paying on the borrowed money they used to lend to us. e.g. Italy selling bonds at 7% so they have some cash to lend to Spain for a 3% return.
[video]http://www.youtube.com/watch?v=TN_1mF-3JTI[/video]

Population of UK is what, 65 million give or take.
Instead of giving £80bn to banks who will squander it, give every UK national £1bn. 15bn saving and imagine the spending, the UK economy would then go through the roof would it not?

Nice sums. Are you a banker?

Nope but would welcome explanations to show how my theory isnt sound

Nope.. Sounds good to me 😀 can it be any worse than the so called experts solutions….

Nope but would welcome explanations to show how my theory isnt sound

It would totally, and spectacularly, devalue the pound, probably causing a crisis along the lines of Germany in the 1930s. Other than that, it’s a nice idea.

🙁 bum!…

And look where Germany are today, surely I’d be paving the way for a stable future economy

The Flying Ox – Member
I suppose there’d be a slight difference. A Labour government would have slipped us fully into the EZ*

eh ? it was brown who kept us out of the euro, despite what tony wanted and what masstricht major and ken clarke wouldve done if theyd stayed in power??

slackalice – Member

Blair and co then got really carried away with the whole scam of quick profit with money that doesn’t exist and went so far as to sell all our gold (which really did exist) for more money that doesn’t exist.

facepalm!

and is inflating away the debt really the plan

food prices, rent, fuel have risen steadily while incomes have dropped
inflation hits the poorest hardest- 20% of children in families below the ‘poverty line’ already

Population of UK is what, 65 million give or take.
Instead of giving £80bn to banks who will squander it, give every UK national £1bn. 15bn saving and imagine the spending, the UK economy would then go through the roof would it not?

That was an argument that was flying around Spain last year. Look where it’s got them… 😐

If only they could create as much of this Magic Money for the public sector…

That was an argument that was flying around Spain last year. Look where it’s got them…

You mean they didn’t do it and it was a mistake not to ?

You mean they didn’t do it and it was a mistake not to ?

That’s exactly what I mean, ernesto.

here in Oz they gave every taxpayer 1000 bucks to spend. it was awesome!

It would totally, and spectacularly, devalue the pound

yes But I would be a billionaire why should I give a ****?

That’s exactly what I mean, ernesto.

Well let’s do it then !

I wonder what I’ll spend my £1bn on ? 😕

Typical Tory government – they think they can solve a problem by throwing our money at it.

😆

I presume the irony was intended?

Kimbers…. Me or them???!!!!

Instead of giving £80bn to banks who will squander it, give every UK national £1bn
Nope but would welcome explanations to show how my theory isnt sound

your practical problem is confusing the “B” key with the “M” key
Your monetary problem, I think, is that this “cash” doesn’t exist

Edit, FFS, now I’m at it – “K” key

Well let’s do it then !

If you think the ludicrous is the way to go, go for it.
I do have my doubts about the way the voting public think at times though…

confusing the “B” key with the “M” key

I’ve only got a £1m to spend now ? 🙁

Hardly seems worth the bother for a measly £1m….

not confusing any key. 65 million people x £1bn each equal £65bn

Although I wouldnt turn down £1m either 😉

If Spain thought about it and didnt do it, then we need to act FAST!!!!

Yours for a mere 3k, almightydutch.

not confusing any key. 65 million people x £1bn each equal £65bn

No it doesnt 😕

Haha, oh yeah epic sums failure, i’ll take my million instead.

I’ll take 3 of them spades Don Simon, good for trail building them are

65 million people x £1bn each equal £65bn

At least your English seems to be OK – I presume you managed to pass a GCSE in that?

Will new 29er wheels cost more than £1m When if I get my £1m?…..
I know, I’m shallow..46yrs of watching the same old shit happening again and again hasn’t helped…

BTW in the UK we now use the US definition of a billion £1bn = £1,000,000,000 so none of you are going to be as rich as you’re expecting.

almightydutch – Member
How about, for once instead of bailing out the banks and seeing little or no returns on that cash, give the citizens the money directly.

Population of UK is what, 65 million give or take.

Instead of giving £80bn to banks who will squander it, give every UK national £1bn. 15bn saving and imagine the spending, the UK economy would then go through the roof would it not?Ignoring the dodgy maths, what would actually happen is that we’d spend it all on imported goods – tellys, phones, cars, cloeths, you name it – same as we did last time. Hence, not much good for improving the economy.

edit. not needed

what’s staggeringly clear is that the vast majority obviously have no real idea about the actual state of affairs, and all im seeing in response are trendy knee-jerk tabloid reactions.

As said above, I worry about the quality of our voters.

slackalice – you give me hope!

I’ve only got a £1m to spend now ?

Unfortunately so…. especially when the average price of a house would be £25m 😕

what would actually happen is that we’d spend it all on imported goods – tellys, phones, cars, cloeths, you name it – same as we did last time. Hence, not much good for improving the economy.

Same as last time ? Didn’t the UK economy enjoy a boom for years whilst we were importing everything from China ?

I’ll be happy with some hope hoops for my £1m… 😀 but it’s not looking likely… 😥

I worry about the quality of our voters.

Tell me about it. How the **** did David Cameron become Prime Minister ? Or George Osborne Chancellor for that matter.

As said above, I worry about the quality of our voters.

Bless your little cotton socks. Would you like to do it for us, on all our behalves? 😉

I worry about the quality of our voters.

Yeah, and the experts have done such a good job previously…

Tell me about it.

and I always thought you disliked suggestions that the average member of the public is a bit thick.

This latest spend has nothing to do with making cash available to small business and is all to do with making sure the banks have enough capital to get through this weekends potentially impending disaster, Greece!

I’d like to see the creation of a national bank whereby profits are returned back to the investors/savers and not into the pockets of it’s shareholders, it would certainly give the private banks something to think about.

Would it be that hard to do?

I’d like to see the creation of a national bank whereby profits are returned back to the investors/savers and not into the pockets of it’s shareholders

You could call it something like “The Co-operative Bank“.