Brits trying to print their way out of crisis.

creeper1

So this ancient nation with all its past plunder is coming up against a crisis that is absolutely unassailable.

Well good ladies and lords what shall we do to get out of it?

Answer - Turn on the printing press.

Pathetic.

You know if this Zimbabwe doing this they would chuckle and say "what do you expect from a third world nation?"

The Bank of England, with inflation at 5% before more QE, has shown that they really have given up all responsibilty on controlling prices.

Well it is the UK's only solution so I really hope they take a big pill of humility.

The ECB has reacted much more responsibly to the crisis than the Bank of England. At least we can be sure that a Euro will be worth something in the future. The Germans with their Weimar Republic experience will absolutely not allow this kind of reckless policy.

Indeed if the ECB did the same kind of stimulus that the BOE did then all the periphery debt problems would be gone and then some.

I guess it is no big deal for us Irish. Their will be no currency risk in the loan that Ireland received. A pityfully weak pound sterling will mean our Euro can pay back the loan relatively painlessly.

The Brits have enormous debt, absolutely mind boggling And they have nothing to offer the world :pac:. Both the North Sea and the City of London are drying up.

I share the low opinion expressed by Jim ROgers. He knows how the world works!
http://www.youtube.com/watch?v=fflOhutJXYY


What gets me is their AAA rating. That is absurd! There is 100% certainty they will lose that rating See here.

http://www.telegraph.co.uk/finance/financialcrisis/8822965/UK-rating-downgrade-unavoidable.html

And it is not past time.

getz

you are one month out of date

raymann

creeper1 wrote: »

So this ancient nation with all its past plunder is coming up against a crisis that is absolutely unassailable.

Well good ladies and lords what shall we do to get out of it?

Answer - Turn on the printing press.

Pathetic.

You know if this Zimbabwe doing this they would chuckle and say "what do you expect from a third world nation?"

The Bank of England, with inflation at 5% before more QE, has shown that they really have given up all responsibilty on controlling prices.

Well it is the UK's only solution so I really hope they take a big pill of humility.

The ECB has reacted much more responsibly to the crisis than the Bank of England. At least we can be sure that a Euro will be worth something in the future. The Germans with their Weimar Republic experience will absolutely not allow this kind of reckless policy.

Indeed if the ECB did the same kind of stimulus that the BOE did then all the periphery debt problems would be gone and then some.

I guess it is no big deal for us Irish. Their will be no currency risk in the loan that Ireland received. A pityfully weak pound sterling will mean our Euro can pay back the loan relatively painlessly.

The Brits have enormous debt, absolutely mind boggling And they have nothing to offer the world :pac:. Both the North Sea and the City of London are drying up.

I share the low opinion expressed by Jim ROgers. He knows how the world works!
http://www.youtube.com/watch?v=fflOhutJXYY


What gets me is their AAA rating. That is absurd! There is 100% certainty they will lose that rating See here.

http://www.telegraph.co.uk/finance/financialcrisis/8822965/UK-rating-downgrade-unavoidable.html

And it is not past time.

your anti brit agenda is hilarious! you do realise that a strong uk economy is absolutely essential if we are to ever claw our way out of the hole we are in?

having control over theory own currency has been nothing but advantageous for them during this crisis.

getz

raymann wrote: »

your anti brit agenda is hilarious! you do realise that a strong uk economy is absolutely essential if we are to ever claw our way out of the hole we are in?

having control over theory own currency has been nothing but advantageous for them during this crisis.

it just the usual mischief,he should be more worried about the french attack on the non preforming euro countries,with the quotes like we shouldent have let them join the euro,

fricatus

I think they're doing the right thing to be honest.

They're so up to their ar$e in debt that they'll never be able to have a growing economy and pay it all back, so they'll just inflate their way out of it. It's tough on savers, sure, but great for the indebted.

Inflation also has the effect of pushing down the savings rate so that those who are holding on to money in the fear of something worse happening have more of an incentive to spend it and keep money moving in the economy.

The problem is that once prices go up by 5% more than two years in a row, you get all sorts of second-round effects, with yearly pay rises being expected and a drop in the value of the currency.

Still though, what use is a strong currency when everyone's being put on the dole, retail spending is collapsing, etc? Then its only worth is as a source of pride. I'd rather see inflation than the sort of stagnation we have now.

The Brits are doing what they've always done - never defaulting, but just inflating their way out of trouble. Best of a bad lot of choices at the moment.

Suryavarman

fricatus wrote: »

never defaulting, but just inflating their way out of trouble.

Defaulting and inflating are the same thing.

Icepick

Actually, printing more money is fairer than tax increases and cuts and increases spending.
You can't overdo it, obviously.

Suryavarman

Icepick wrote: »

Actually, printing more money is fairer than tax increases and cuts and increases spending.
You can't overdo it, obviously.

Destroying peoples savings and driving up the cost of goods is fairer than spending cuts?

Icepick

Suryavarman wrote: »

Destroying peoples savings and driving up the cost of goods is fairer than spending cuts?

Spending cuts are not "destroying peoples savings and driving up the cost of goods?" Also, increasing money supply affects everybody, whereas budget cuts and tax increases affect low income families much more.

pacquiao

Icepick wrote: »

Actually, printing more money is fairer than tax increases and cuts and increases spending.
You can't overdo it, obviously.

Printing money is tax.

Suryavarman

Icepick wrote: »

Spending cuts are not "destroying peoples savings and driving up the cost of goods?"

I know, that's what printing money does.

Also, increasing money supply affects everybody, whereas budget cuts and tax increases affect low income families much more.

Printing money has a disproportionate effect on low and middle income families. The rich tend to be able to shelter themselves from the worst of inflation.

Taxes and spending cuts don't necessarily effect low income families, it depends what taxes and cuts they are.

ardmacha

Printing money is designed to advance the cause of spendthrift people who borrow at the expense of more frugal individuals who save.

However the UK is an important customer for Irish goods, so let them at it.

It is notable when reading British newspapers that people are still talking about high house prices and the like. We have a problem that banks are not lending, but houses will be affordable again for young people and that's a good thing.

partyguinness

Moved to UK 15 mts ago. Things are getting worse here although official England is saying everything is rosy.

Worringly, the large retailers are actual contracting job creations and holding back on temps jobs at the moment with reduced hourly rates from 12 mts ago.

The Bank of England (like the Eurozone) are just as stumped on what to do...it's not that they are stalling or cannot agree. They have simply run out of ideas.

Of course the usual Tory tantrum has kicked off with talks of leaving the EU. I had to laugh at the Eurozone leaders rebuke to David Cameron. The Brits are always snipping away and smug at how the Euro has faltered and then the during the current talks they wanted to contribute. and were told to get lost. Reminds me of the smart ass at the back of the class room who won't contribute but is full of smart comments and snide remarks. But that has always been their way.

Was actually discussing this today with an English colleague:-

Basically, the Irish population is quite transient. We move around and emigrate to where the work it when necessary. Not ideal obviously but we do what we have to do. The English on the other hand are very stagnant. They stay where they are and are horrified at the idea of leaving the area they grew up in, went to school, and work. There is a serious air of stagnation in the UK.

Another difference I notice, we the Irish love bad news, the media love it and we love telling ourselves how bad things are. In fact, things can't get bad enough for some people.

The British (well official Britain) it is the opposite. Look the other and do not report any bad news. Talk about the Royal family, sport, the weather, anything but the big elephant sitting in the corner. Prob why there is so many rose tinted and nostalgic programmes on the BBC..looking back on a more secure time.

This is not Brit bashing. I live here and it's absolutely in my interests for things to pick up. I cant get work in my chosen profession and my wife is self-employed.

But I really don't see it any signs of a pick up as I said, the large multiples holding back is very worrying as it was better 12 months ago.

Things are a lot worse here than what is made out officially.

indioblack

partyguinness wrote: »

Moved to UK 15 mts ago. Things are getting worse here although official England is saying everything is rosy.

Worringly, the large retailers are actual contracting job creations and holding back on temps jobs at the moment with reduced hourly rates from 12 mts ago.

The Bank of England (like the Eurozone) are just as stumped on what to do...it's not that they are stalling or cannot agree. They have simply run out of ideas.

Of course the usual Tory tantrum has kicked off with talks of leaving the EU. I had to laugh at the Eurozone leaders rebuke to David Cameron. The Brits are always snipping away and smug at how the Euro has faltered and then the during the current talks they wanted to contribute. and were told to get lost. Reminds me of the smart ass at the back of the class room who won't contribute but is full of smart comments and snide remarks. But that has always been their way.

Was actually discussing this today with an English colleague:-

Basically, the Irish population is quite transient. We move around and emigrate to where the work it when necessary. Not ideal obviously but we do what we have to do. The English on the other hand are very stagnant. They stay where they are and are horrified at the idea of leaving the area they grew up in, went to school, and work. There is a serious air of stagnation in the UK.

Another difference I notice, we the Irish love bad news, the media love it and we love telling ourselves how bad things are. In fact, things can't get bad enough for some people.

The British (well official Britain) it is the opposite. Look the other and do not report any bad news. Talk about the Royal family, sport, the weather, anything but the big elephant sitting in the corner. Prob why there is so many rose tinted and nostalgic programmes on the BBC..looking back on a more secure time.

This is not Brit bashing. I live here and it's absolutely in my interests for things to pick up. I cant get work in my chosen profession and my wife is self-employed.

But I really don't see it any signs of a pick up as I said, the large multiples holding back is very worrying as it was better 12 months ago.

Things are a lot worse here than what is made out officially.

No one here would say that everything is rosy.
Only a fool would wish that the Eurozone would fail. If you follow the news here you will find more who want the Eurozone to recover than take the opposite view - because it's in the UK's own interest.
The British can't be told to get lost - they've been a contributor to the Common Market and the E.U. and they're part of the IMF - remember the bailout?
As for the media not reporting bad news - tell me what tv channels are you watching?
The big elephant sitting in the corner - you mean the one several E.U. countries ignored until they were forced to - including Ireland.
It's bad here - and it may get worse.
You seem to want something from this country - presumably that's why you're here - yet you're happy to denigrate it.

mistermouse

I'd keep an eye on sterling, its a big export and import market and we may end up looking to get tied to it if the Euro were to fail.

I'd deem myself as a nationalist due to how Catholics and Nationalists were treated in the past in Northern Ireland, but in these different and changed times both in NI and Europe, I'd start to favour more close workings with the UK

They have much more sympathy and lots more in common with us than Germany or France and probably would treat us with more respect these days. Germany telling us how good we are when we are paying back their banks and France, well corporation tax etc etc.

It shows Fine Gael who were always pro Britain, jumped on the pro Germany bandwagon in recent years for what they are. Just wanna be in with the big boys

raymann

partyguinness wrote: »

Moved to UK 15 mts ago. Things are getting worse here although official England is saying everything is rosy.

Worringly, the large retailers are actual contracting job creations and holding back on temps jobs at the moment with reduced hourly rates from 12 mts ago.

The Bank of England (like the Eurozone) are just as stumped on what to do...it's not that they are stalling or cannot agree. They have simply run out of ideas.

Of course the usual Tory tantrum has kicked off with talks of leaving the EU. I had to laugh at the Eurozone leaders rebuke to David Cameron. The Brits are always snipping away and smug at how the Euro has faltered and then the during the current talks they wanted to contribute. and were told to get lost. Reminds me of the smart ass at the back of the class room who won't contribute but is full of smart comments and snide remarks. But that has always been their way.

Was actually discussing this today with an English colleague:-

Basically, the Irish population is quite transient. We move around and emigrate to where the work it when necessary. Not ideal obviously but we do what we have to do. The English on the other hand are very stagnant. They stay where they are and are horrified at the idea of leaving the area they grew up in, went to school, and work. There is a serious air of stagnation in the UK.

Another difference I notice, we the Irish love bad news, the media love it and we love telling ourselves how bad things are. In fact, things can't get bad enough for some people.

The British (well official Britain) it is the opposite. Look the other and do not report any bad news. Talk about the Royal family, sport, the weather, anything but the big elephant sitting in the corner. Prob why there is so many rose tinted and nostalgic programmes on the BBC..looking back on a more secure time.

This is not Brit bashing. I live here and it's absolutely in my interests for things to pick up. I cant get work in my chosen profession and my wife is self-employed.

But I really don't see it any signs of a pick up as I said, the large multiples holding back is very worrying as it was better 12 months ago.

Things are a lot worse here than what is made out officially.

i live in france on the border with spain. things are real real bad here as well.

Head The Wall

It's a case of everyone thinking the grass is greener on the other side

Crazy Horse 6

Found it hilarious British PM was giving "advice" to the Europeans last week. The UK's economy is in a very very dark place and he'd do well sorting out his own problems first before giving advice to the inept European elites.

astrofool

With unsustainable debt, you can default, inflate, or spend nothing for a decade.

The brit's are inflating. The Germans are going to have to follow suit, the Greek 50% default isn't enough to keep the Eurozone going.

I'd be worried if I was retiring soon, private pensions are going to have the a*s kicked off them.

Icepick

pacquiao wrote: »

Printing money is tax.

Of course, it is. That's not the point.
The point is that it's a more fair tax.

Suryavarman

Icepick wrote: »

Of course, it is. That's not the point.
The point is that it's a more fair tax.

How is a tax that disproportionately effects poor people and retirees a more fair tax?