For the past couple of years we have had talk of recession and whether we are in one or not.
Today £75 Bn is to be injected into the economy of England by Quantitative easing.
(The way the central bank does this is by buying assets - usually financial assets such as government and corporate bonds - using money it has simply created out of thin air.)
Without being too much of a doom bringer, I personally think they are flogging the proverbial dead horse, that has also escaped the stable as it happens.
It appears to me that we are on the upper part of a gradually steeper incline and we are loosing traction, we have started to slide and the gradient is falling in front of us.
I hope I am wrong.
The Financial crisis
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I thought I knew more than this until I opened my mouth
The Financial crisis
And in the process they've effectively taxed me, personally, around five thousand pounds while deferring its collection for a decade. Given the choice I'd rather not have signed up to the deal. That tranche of quantitative easing hasn't the slightest possibility of bringing me any benefit at all.
How has it taxed me? It's taken bonds which would have generated income and said let's pretend we had the income. The bonds are repayable. When the Bank of England presents itself for repayment so as to write down the eased cash figure, my tax burden will go up by £5,000 or so to make the repayment and I'll be paying then for what this round of easing didn't do for me.
Did I vote for Mervyn King? I don't recall doing so. Why does he have his hand in my pocket.
How has it taxed me? It's taken bonds which would have generated income and said let's pretend we had the income. The bonds are repayable. When the Bank of England presents itself for repayment so as to write down the eased cash figure, my tax burden will go up by £5,000 or so to make the repayment and I'll be paying then for what this round of easing didn't do for me.
Did I vote for Mervyn King? I don't recall doing so. Why does he have his hand in my pocket.
Nullius in verba ... ☎||||||||||| ... To Fate I sue, of other means bereft, the only refuge for the wretched left.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
The Financial crisis
I get the same impression as Bruv gets. I don't see things getting better, I expect them to get worse. I think we should all look to Greece as an example of our future. They aren't going to get out of the hole they're in. The rich and corporations don't pay their taxes, the foundations of the economy erode, the government cuts pay and benefits, tax revenue goes down further. It's a race to the bottom. I don't know what it will take to stop it.
The Financial crisis
Scrat;1371891 wrote: I get the same impression as Bruv gets. I don't see things getting better, I expect them to get worse. I think we should all look to Greece as an example of our future. They aren't going to get out of the hole they're in. The rich and corporations don't pay their taxes, the foundations of the economy erode, the government cuts pay and benefits, tax revenue goes down further. It's a race to the bottom. I don't know what it will take to stop it.
The people just like they always have. Corporations and the rich don't pay tax because they get away with it and have managed to convince the electorate they don't have the right to make them pay. They are wrong. America probably has the furthest to go in it dawning on the people they are the ones that actually run things and get to decide whop pays.
The people just like they always have. Corporations and the rich don't pay tax because they get away with it and have managed to convince the electorate they don't have the right to make them pay. They are wrong. America probably has the furthest to go in it dawning on the people they are the ones that actually run things and get to decide whop pays.