UK Debt tops £2 trillion debt for first time on record

Pog

Well-known member
I wonder if those who blamed the collapse of the global economy and US sub prime mortgages on the UK Labour Party will be this morning be holding the Conservative Party accountable for these figures?

I suspect not.

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1finny

Well-known member
Don’t forget, by the way, people have made £mmmm in the equity market

By the way - anyone know what the 1961 problem was (debt as % of GDP was 100% then apparently)
 

Corcaigh_the_Cat

Well-known member
The 1961 problem was we hadn't come across Thatcherism and we had close to full employment. We had no oil revenue to waste on keeping people out of work to make life easier for those in power.
 

Abel Tasman

Well-known member
Don’t forget, by the way, people have made £mmmm in the equity market

By the way - anyone know what the 1961 problem was (debt as % of GDP was 100% then apparently)

Classic Keynesian economic policy.

Our economy at or near full capacity and investing heavily in infrastructure, research and education to improve productivity, the postwar governments of both major parties were able to do what these days would be thought impossible: to run constant government deficits to effect a fall in the ratio of government debt to gross domestic product.

So the postwar boom occurred, at least in part, because of the budget deficits, not in spite of them.

By always spending enough to maintain the economy at full employment, the government ensured a strong economy. From 1961 Economic growth made the ratio of debt to gross domestic product shrink. So as long as you have full employment and tax revenues flow in then you needn’t worry about high debt.
 

Alvez_48

Well-known member
Also known as buy 1 Mbappe get Messi free deal. 🤣

In all seriousness I can genuinely see the complete collapse of the $ and to a lesser but still devastating effect the £.

I have no idea how to fix it, we are in the transition years to whatever comes after capitalism. I'm pretty scared, it's very difficult to try to plan for the future. As a species we are being kept in flight or fight mode whilst very dangerous people secure their future.
 

BoroMart

Well-known member
Kier Starmer is a light blue establishment man - he hasnt got the balls to provide real criticism or campaign for a real alternative.
He pees in the same pot as the sheep - he wont upset the barrel.
No alternative but changing deckchairs on the Titanic
I'd say he is more of a balanced pragmatic centrist. He did spend a lot of his career fighting for human rights, you know, that kind of empathic stuff that some kinds of people see as 'loony left'. Economically he believes in allowing a good deal of free market economics, but he does believe in stopping monopolies, protecting workers rights, and ensuring that the excesses of the rich are curbed. It's all an improvement on the current political rulers
 

Alvez_48

Well-known member
I'd say he is more of a balanced pragmatic centrist. He did spend a lot of his career fighting for human rights, you know, that kind of empathic stuff that some kinds of people see as 'loony left'. Economically he believes in allowing a good deal of free market economics, but he does believe in stopping monopolies, protecting workers rights, and ensuring that the excesses of the rich are curbed. It's all an improvement on the current political rulers

Same Keir Starmer who tried to prosecute that idiot kid who called in a bomb threat as a terrorist? He's fighting for human rights? 🤣

Since he's come in he's basically done everything possible to be light blue and that's fine, you love a light blue leader. Guess he will say sorry more with a somber sad face whilst he's giving us all a jolly screwing.
 

ticker_tape

Well-known member
No need to be to keep control they will have to wipe the debt or put it into pot and pretend its being serviced over 50 years. If they dont forget about these ficticious figures they will have things taken from them and lose control.
 

No1_club

Member
It's worth saying that the only way the economic right wing extremists can fight Starmer is by painting him as a Tory-lite. Hoping to split the left vote. With Corbyn it was he is too far left and a danger to centrist-left voters, with starmer he's too centrist/right. They lied both times.

Err no, its Roofie calling him a tory lite.
 

ticker_tape

Well-known member
Furlough = unemployment related earnings of the early 70s. Strange how weve paid millions of people to sit on their hands, normally every thinks of them as deabeats.
 
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