They [the government] are not doing it [cutting spending enough]. They are saying they are doing it but they are not. They are saving £1 billion ($1.6 billion) here or there but they are not doing what they really need to and I’m not sure the government would survive the kind of pain that is really required.What they are likely to do is what the PIIGS can't do, that is, print money. It will destroy the pound, but it is the likely political "solution".
How can the UK ever repay the debt that is continually rising? The UK will need a bailout soon. You have the advantage that your debt is longer term but let’s assume the government keep to these austerity plans or really put them in place people will start to complain.
The government will begin to lose by-elections and the government could fall, then what?
Friday, May 6, 2011
Rogers: The U.K. Will Need a Bailout Soon
Says Jim Rogers:
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The political terrorists Blair and Brown deliberately destroyed the UK. I don't know why the Brits even allow those filthy animals to live amoungst them. It's like allowing a known murderer/rapist to walk your daughter to school.
ReplyDeleteRead publications like accountancyage.com or www.lawgazette.co.uk to get an idea of why cuts are so hard. Whenever a serious proposition is made to cut something, apologetics/hacks (mainly defenders of professional privilege) will screech from the height of their perches about how the market will be screwed over. Cameron, Clegg etc. are all leeching suit-wearing perpetrators of national suicide. I like how Clegg recently lambasted the whole AV scandal. He knows where his interests lie. Until these twits are discarded permanently from the political scene, and until the public stops being distracted by sparkly, silly "feel-good" crap like the Royal Wedding, Britain is headed for rough times.
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