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| | | mal | | Posts: 5596 |  | |
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 #1084 25 Oct 2020 at 11.21am | |   |
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In reply to Post #1077
The more I read of this the more dumb I felt! 
Good job I don't teach economics...
Did get me thinking though. Are we on a slippery slope? My basic (very) understanding of QE is that, as more money is released into the system, the overall value of the individual parts (let's say a 5 pound note as an example) is decreased. Money has value because of its scarcity. So more bits of money about devalues all of it. (I realise it's less of a physical process now and more numbers on screens)
So... this in mind, if I had £1000 savings in January, ignoring interest etc., it's now worth less due to QE. Now this is the same for everyone, so we don't necessarily notice until it comes to trade etc.
Then I started to think about Germany and hyperinflation and those 50,000 mark notes that were worth less than the paper they were printed on (slight exaggeration there). Are we headed that way?
God my brain hurts now. It was much simpler when banking was just my little tsb school bank paying in book...
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#1083 25 Oct 2020 at 11.11am | | |
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In reply to Post #1082
Like the analogy
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#1082 25 Oct 2020 at 10.53am | | |
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In reply to Post #1078
Previous government's have been pilloried for borrowing, after world events turned against the UK. Didn't fix the roof when the sun was shining was a favorite phrase. Well it's been a decade to fix that roof and its pissing in more than ever now the sun's not shining.
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#1081 25 Oct 2020 at 9.59am | | |
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In reply to Post #1079
Agree 
Maybe we should call our debts in from Europe too. Quite a few years ago now I read we were owed trillions!
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#1080 25 Oct 2020 at 9.57am | | |
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In reply to Post #1074
On a side note, I love what the Geordie footy fans have done in protest to sky charging 15 quid to watch pay per view. Thousands raised for food banks instead of lining the pockets of big business
Only just seen this so had a google, 20k to charity instead of supporting another Sky rip off, brilliant 
Must admit I was tempted to pay for the game last night but then refused for these exact reasons 
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#1079 25 Oct 2020 at 9.56am | | |
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In reply to Post #1078
Should we really have to borrow anything
No but guess who sold off all the countries assets... those good old Tories.
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#1078 25 Oct 2020 at 9.51am | | |
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In reply to Post #1077
Google is a magical source lol. I guess the BBC is more credible?
We won't know how big the final bill will be until after the crisis is over. But the government will certainly have to borrow enormous amounts of money.
According to the Office for Budget Responsibility (OBR), which keeps tabs on government spending, the government would have to borrow £372bn for the current financial year (April 2020 to April 2021).
And that's before the cost of new lockdowns and support measures announced in the autumn are considered.
To put it into context: before the crisis, the government was expecting to borrow about £55bn for the whole financial year, but it has already borrowed £208.5bn so far this year.
And they key point is, what could they have done with all these billions 
Should we really have to borrow anything 
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#1077 25 Oct 2020 at 9.08am | | |
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#1076 25 Oct 2020 at 9.08am | | |
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In reply to Post #1075
Some of them are good ideas though Noj...... 
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| | | noj | | Posts: 9787 |  | | Social photographer... | |
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#1075 25 Oct 2020 at 8.59am | | |
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For some perspective, that 80k the MPs earn (which isn’t actually that much, some people on here will earn that) is a few days for some footballers.
Maybe it’s time to legalise recreational drugs and use the tax revenue for good?
And let booze related a&e admissions rot in the gutter to free up funds?
Stop landlords profiting from the council properties they paid a pittance for from the government, only to then charge over inflated rent to the parents of these hungry kids through their housing benefit?
Execute lifers in jail?
Relocate prisons to remote Self sustainable islands, no farming no food.
I’m full of controversial money making ideas.
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| | | mal | | Posts: 5596 | | |
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#1074 25 Oct 2020 at 8.47am | | |
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In reply to Post #1073
I think they have painted themselves into a corner over it. Only option now is another climb down so it's now hungry kids vs saving face and we know how that will pan out...
Agree about the huge debt post furlough etc. But given the tiny percentage that the cost of providing the fsm would equate to (0.05 per cent is a figure I heard quoted) and the easy comparisons with money pumped into pubs and greekski's example of mp meal subsidies it just rankles. If the Scots, the Irish and the Welsh can do it then there's no good reason why it can't happen in England too.
On a side note, I love what the Geordie footy fans have done in protest to sky charging 15 quid to watch pay per view. Thousands raised for food banks instead of lining the pockets of big business
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#1073 25 Oct 2020 at 6.35am | | |
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In reply to Post #1070
Lot of sense there Mal
See my last comments about Rashford. I said since he is leading it and donating to it, not just talking about it like people on here, respect to the lad
Let’s not forget all the trillions been pumped into Furloughs to save jobs here. The trillions that will have to be paid back, and you know where that will come from.
Even more debt!
As for painting his Jet, I can understand the image and frustrations but that’s another stupid counter claim. Let’s hope he doesn’t get a new car ffs!
You see, ultimately there’s a pot of cash to run this country on, now you can divide that wherever you like but there has to be hard decisions along the line somewhere and these are based on items that nobody on here has got a clue about. Hence if we pumped money into every charity going we would be no different to any business, bankrupt!!!
Charity = fund rasing
Like I said initially though, sounds like a viable cause to me. I used to get free school dinners because we had **** all 
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| | | mal | | Posts: 5596 | | |
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#1072 24 Oct 2020 at 11.54pm | | |
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In reply to Post #1071
Agreed.
Henry said something in the covid thread a while back about how there was a sense of coming together at the start of lockdown. But after a while people revert to type and the selfish and ignorant go back to what works for them because that's who really matters to them....
From applauding NHS staff to shops not letting them in if they are wearing uniform.
From looking out for each other to looking after number one.
Didn't take too long did it?
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#1071 24 Oct 2020 at 10.48pm | | |
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In reply to Post #1070
But that is linked to empathy and awareness which is in short supply in this government
Sadly not just in the government. Plenty of the general public lack both too.
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| | | mal | | Posts: 5596 | | |
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#1070 24 Oct 2020 at 10.28pm | | |
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Whilst I obviously live to read your regular arguments it's hard not to pitch in with a couple of things...
Rashford seems a sensible lad who probably knows that there is far greater impact in his campaign for government change than him simply donating his wages. Give a man a fish etc...
He's spoken about his own mum and how she struggled with food poverty when he was a lad so it matters to him.
Government action in terms of covid restrictions have pushed an extra million kids' families into food poverty. They have a responsibility to do something about it. The devolved leaders have all committed to provision of fsm through holidays until next year (yes, they've taken account of Christmas already unlike johnson and his disgraceful mob). I posted in the summer about the amount of meals they could provide by simply diverting the cost of painting his private jumbo jet. And he dares to say 'we are all in this together'
Scozza, back a while I pushed you on your passion for tackling homelessness and suggested you give to charity to which you responded that you don't - because you pay your taxes. Multi million pound earning footballers also pay their taxes. A lot more than you or I. ... so the term hypocrite for the lad is harsh given your own approach.
In a supposedly civilised wealthy country, children shouldn't be going to bed hungry and mum's shouldn't be choosing between eating themself or feeding their kids.
Johnson and every mp who voted against this (because it was raised by labour by any chance?) should be ashamed. But that is linked to empathy and awareness which is in short supply in this government
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