grandad wrote:
toots wrote:
grandad wrote:
toots wrote:
I dispair with this idiot. It was obvious that when the money was given to the banks nobody would ever see the benefit. If only they had kept the money in the kitty and dropped the tax burden to average joe blogs it would have kept us spending which is what this economy needs
I thought it was US spending that had created this mess. Us spending money we hadn't got so we borrowed it from the banks!
You know it wasn't just us spending money we didin't have. The banks spent considerably more money than they didn't have on quite a bit that turned sour very quickly. In fact I think our debt is quite small compared to the banks debt from speculation. I believe the VAT should have remained the same, the interest rates remain the same and the income tax reduced considerably for a period of time. But that is of course only my opinion
Realy, What have the banks spent money on? The vast majority has been lending to people who can't afford to pay it back. Personal debt in this country is very close to £1 trillion.
You're correct they don't spend as such but they certainly waste an awful lot. Take for instance bonuses, advertising, employing people in risk assessment only to ignore thier advise and plunge the bank into considerable problems. Then there is the debt you talk about which of course is loaned by the banks who's own greed didn't ensure that the people who borrowed it could indeed pay it back. Oh yes then there are the bad investments the bank made to earn the huge profits for themselves whilst they pay a minute profit to the saver. So whilst I agree they don't actually spend money as such they are certainly responsible for the control of a lot of money, that is their job and right now they are not very good at it. I get the feeling that the government is throwing more good money after bad
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