| Topic: | Re:Re:Its the bankers or us.... | |
| Posted by: | James Holmes-Siedle | |
| Date/Time: | 05/12/10 11:59:00 |
| Please - this is GARBAGE! Have a quick hack around and look up the balance sheet of the UK - one of several I found reads as follows: The ONS itemised the public sector's main liabilities as: * Future payments for the state old age pension: £1.1trn to £1.4trn * Unfunded public sector pensions for teachers, NHS staff and civil servants: £770bn to £1.2trn * Payments under private finance initiative contracts: £200bn * Contingent liabilities (eg bank deposit guarantees): £500bn * Nuclear power plant decommissioning: £45bn * Impact of financial sector interventions: £1trn to £1.5trn What was the cost of the banking bailout - which are actually loans/ownership = approx £50bn So who are the bad guys in all of this? I am no lover of bankers, but it seems to me that the key culprit has been spending beyond our means - a pension system that is future based rather than pay as you go, hugely inflated Gvt spending on things we could not afford. Deferred spending - like PFI which looks like it is not on the actual balance sheet. I am no economist. I run a small business. If I ran my business in this way I would not be around for very long. Purchasing on the never never, spending beyond my means in the good days rather than building some kind of reserves ...... I have worked with other companies whi are like that and they are no longer around, and they took quite a few down with them! Cuts are an inevitable hangover from excess in the good times. Bash the bankers by all means if you want - but please at the same time address the actual structural deficits and put up an alternaitve plan to paying the interest repayments - whcih currently cost more than the funding of the NHS! Personally I believe in free tuition fees - but not for meeeja degrees. There appears to have been a disassociation fo the point of a degree and the benefit to the nation. Getting a degree is not necessarily 'education' and not always right for everyone - and we seem to have ditched other vocational qualifications in favour of popcorn. Bankers is small beer - I ould rather be a PFI contractor than a banker at the moment - they absolutely rake it in! (Yes I do have experience of the sector). James |