Bailout ahoy! British banks likely to require another bailout next year

[Plan C]

Oh the joys of fractional reserve monetary system...

LINK

And some background reading:

http://www.neweconomics.org/publicat...d-our-money-go

Could the new budget (especially the benefit cuts) be designed to build a war chest for next year's refinancing plan? I hope the government realizes even so much as a hint at this will make the country erupt in violent rage.

Or will banks perhaps be actually allowed to fall if they cannot cope without SLS money?

Osborne thinks_not but I am not so sure.

Discuss.

[Jingles]

So can we expect a forecast of poll tax esque riots next year, or will the public take it up the arse lying down. Again.

[Heinz Guderian]

Its like they want us to riot

[Freddie]

Its like they want us to riot

What's all this 'us' talk, I won't be rioting over spending cuts the government is way to big and needs shrinking we piss to much cash up the wall on stupid government qunagos and public bodies and far to many people see living on welfare as a way of life it's about time this crap got sorted out.

[Hookah Smoking Caterpiller]

What's all this 'us' talk, I won't be rioting over spending cuts the government is way to big and needs shrinking we piss to much cash up the wall on stupid government qunagos and public bodies and far to many people see living on welfare as a way of life it's about time this crap got sorted out.

You do realize it wasn't the welfare state that caused the financial collapse?

[Jom]

You do realize it wasn't the welfare state that caused the financial collapse?

But it sure is the one that will be paying for it.

[Hookah Smoking Caterpiller]

But it sure is the one that will be paying for it.

Well it was clearly the fault of public services.

[Freddie]

You do realize it wasn't the welfare state that caused the financial collapse?

This country was running a deficit long before we went into recession we have over 2 million people who have been claiming sick benefit and over 10 years it's costs us as a country in benefits £150 billion which is almost enough to pay for this years deficit and don't tell me there aren't any work shy benefit scamers in that 2 million then there are those who get benefit based on 'back injuries' that never heal and 'depression' that never goes away and doctors can prove illness either, the whole thing is a mess.

People moan about immigrants taking jobs of British workers well if 'British works' wanted to work then we wouldn't need so many immigrants. My girlfriend is Ukrainian and she used to work 80+ hours a week to get enough money to go to University 80 hours a week while at the same time there are lazy arse holes sitting at home bleeding the state dry, it makes me so angry I just want to find one and kick them out of there council house and into the nearest job centre. We must be a laughing stock in Europe we pay people not to work and the welfare system is designed so your just about better of on benefits then you are working, immigrants must think we are mad it makes so embarrassed to be British when I talk to my girlfriend and my mates girlfriend who worked a full time hours so she could support herself through whilst studying at the same time.

[Hookah Smoking Caterpiller]

This country was running a deficit long before we went into recession we have over 2 million people who have been claiming sick benefit and over 10 years it's costs us as a country in benefits £150 billion which is almost enough to pay for this years deficit and don't tell me there aren't any work shy benefit scamers in that 2 million then there are those who get benefit based on 'back injuries' that never heal and 'depression' that never goes away and doctors can prove illness either, the whole thing is a mess.

What does this have to do with the financial sector being utterly irrsponsible and destroying the economy? Somehow, not wasting money on pointless imperial adventures with the americans and splurging billions on weapons that the UK hardly needs would most cut the deficit down nicely. Have you ever tried to get benifits? It takes weeks, of endlessly filing paperwork with the council, often to have it rejected of spurious reasons so you have to start the whole process again.

People moan about immigrants taking jobs of British workers well if 'British works' wanted to work then we wouldn't need so many immigrants. My girlfriend is Ukrainian and she used to work 80+ hours a week to get enough money to go to University 80 hours a week while at the same time there are lazy arse holes sitting at home bleeding the state dry, it makes me so angry I just want to find one and kick them out of there council house and into the nearest job centre. We must be a laughing stock in Europe we pay people not to work and the welfare system is designed so your just about better of on benefits then you are working, immigrants must think we are mad it makes so embarrassed to be British when I talk to my girlfriend and my mates girlfriend who worked a full time hours so she could support herself through whilst studying at the same time.

I couldn't care less for your rant about 'lazy dole scum', firstly it's an unverafiable anecdote, and secondly it stinks of elitism.

[Dr. Croccer]

They should be slapped into place.

[craziii]

guys, I hope you all have taken steps to secure your financial well being. good luck to us all.

[PhilipO'Hayda]

Well atleast Ireland isit the only one.

[Grouchio]

Well atleast Ireland isit the only one.

At least I live in America!

[Shaun]

One of the dangers of having financial services make up such a large amount of your economy. We can't exactly let the pricks fail because that'll be bad for the economy, but if we bail them out again people will probably riot (and I sympathise with that) and they'll be using the money to award themselves obscene bonuses again.

[Plan C]

One of the dangers of having financial services make up such a large amount of your economy. We can't exactly let the pricks fail because that'll be bad for the economy, but if we bail them out again people will probably riot (and I sympathise with that) and they'll be using the money to award themselves obscene bonuses again.

Thing is mate, perpetuating the same monetary policy where private enterprises can lawfully create spending power on demand is not good for economy either and propping this model with another loan, which bears more interest to repay, only defers the inevitable. The only current way we can fight the recession is to expand growth and profits merely to service interest on our debt. Sooner or later the default is more than likely if the current monetary system remains in place.
I'm firmly with the Austrians on this one.

Its like they want us to riot

Perhaps it's the only way to make a change.

So can we expect a forecast of poll tax esque riots next year, or will the public take it up the arse lying down. Again.

Oh I do think there comes a point. The point where even Brits will slam the mug down, chuck remote in the corner and walk out that door.

[America74]

Mm... bailouts. Government... government... government... when are you going to learn, O' Government, that it is not your duty, your right, or your place to "bail" anyone out, especially at the cost at the tax payers. Tsk, tsk, tsk.

America is becoming like Europe! Huzzah! Huzzah! (Or is it Europe is becoming like America...?)