Quote:
Originally Posted by Paul Markham
If the banks had not of been bailed out. The results would of been far far worse, go read about the Depression in the 30s.
The truth is banking is one of the few industries that earns enough to make it so worth keeping them in the UK they can't be penalized. Because if they moved their "investments" sides the loss to the UK economy wold be devastating. Don't forget besides Gordon's borrowing one of the things that kept him spending was the income from the banks. Not the High Street Barclay's Bank. The huge dealing rooms in the City.
Gordon Brown "invested" billions in the UK economy. By expanding up the public sector. Which produces 0 profits. The small amount they spent with the private sector was never enough and frankly if it had of been good economics. The UK would have a far better economy.
There's only one thing that fuels an economy. Profits and exports. If you need to borrow what GB borrowed to prop the system up it's not working. Investment at some point shows a benefit and profit.
The funniest thing is Ed Milliband now is telling people the cuts are too severe as a Labour Leader. While demonstrating in a march that wants 0 cuts. See Portugal, Greece and Ireland for what that means.
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Yes Paul the banks needed to be kept going and thats not what I am getting at. I am pissed at the lies from our goverment and the mega huge payouts which some bankers are still receiving when our econemy is in such a state. Then yesterday the goverment say they are to relax thier rules for politicians expenses. There is also a lot of the private sector firms who do rely on the public sector for contracts so cuting public sector services and jobs will have an effect on the private sector which will most prob cause more job loses. The council over here used to use a hell of a lot of sub contractors from the private sector for building, maintenance, plumbing ect. The public and private sectors work hand in hand so by cutting public sector services it is not going to save us money its going to cause more unenployment in both sectors which we as tax payers then have to prop up by paying out more doll money.