"Britain’s Trillion Pound Horror Story" or just hype?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    "Britain’s Trillion Pound Horror Story" or just hype?

    Film maker Martin Durkin explains the full extent of the financial mess we are in: an estimated £4.8 trillion of national debt and counting. It's so big that even if every home in the UK was sold it wouldn't raise enough cash to pay it off.

    Durkin argues that to put Britain back on track we need to radically rethink the role of the state, stop politicians spending money in our name and introduce, among other measures, flat taxes to make Britain's economy boom again.

    This polemical film presented by Martin Durkin, brings economic theory to life and makes it hit home. It includes interviews with academics, economic experts, entrepreneurs, no less than four ex-Chancellors of the Exchequer and the biggest stack of £50 notes you'll never see.

    What's your opinion? Have your say below, or discuss on Twitter using #Trillion.

    Watch on Channel 4 Catch-Up:

    channel4.com - went out Thurs 11th Nov 2010

    #2
    This belongs in Take a Break really and should be moved.

    Although I've not seen the programme, I'm fully aware of the near disasterous situation the United Kingdom is actually in (even if most of the general public are not).

    Comment


      #3
      But still better than most...
      Unshackled by the chains of idle vanity, A modest manatee, that's me

      Comment


        #4
        Originally posted by tillerman View Post
        an estimated £4.8 trillion of national debt and counting. It's so big that even if every home in the UK was sold it wouldn't raise enough cash to pay it off.
        Clearly nonsense. National Debt includes all National Savings and Government Stock (which aren't "owed" in reality- just investments).
        If all the 'homes' [?- must mean houses/flats] were sold, to whom would they be sold and where would we all live thereafter?
        Conclusion: just a sensationalist journalist seeking publicity.
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment


          #5
          well said!
          Unshackled by the chains of idle vanity, A modest manatee, that's me

          Comment


            #6
            Originally posted by jeffrey View Post
            If all the 'homes' [?- must mean houses/flats] were sold, to whom would they be sold and where would we all live thereafter?
            Conclusion: just a sensationalist journalist seeking publicity.
            Well yes and no... I don't think anybody's suggesting it a prospective solution, more using it to demonstrate the scale of the problem

            Comment


              #7
              Originally posted by Ericthelobster View Post
              Well yes and no... I don't think anybody's suggesting it a prospective solution, more using it to demonstrate the scale of the problem
              Yes. Overliteral readings of the analogy are probably unhelpful here. Having said that, I wouldn't put it past the ConDems to re-style themselves the ConDoms and sell off the rights to all our homes to the Chinese government or something.
              'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

              Comment


                #8
                Originally posted by mind the gap View Post
                Yes. Overliteral readings of the analogy are probably unhelpful here. Having said that, I wouldn't put it past the ConDems to re-style themselves the ConDoms and sell off the rights to all our homes to the Chinese goverment or something.
                'Something'? Have they also abolished that 'n'? Surely the ConDoms would never act riskily!
                JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                4. *- Contact info: click on my name (blue-highlight link).

                Comment


                  #9
                  Originally posted by mind the gap View Post
                  Sell off the rights to all our homes to the Chinese government or something.
                  I think that chinese were arguing about that at the G20. They had pretty much done that with the Americans having bought so much of their debt arising in a large part from Fannie Freddie and the state versions of federally backed mortgage guarentees. They were unhappy about buying more if more money was going to be printed.

                  Still we need to borrow 26p in every pound spent. That's a little scary isn't it?
                  Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

                  Comment


                    #10
                    Originally posted by leaseholdanswers View Post
                    Still we need to borrow 26p in every pound spent. That's a little scary isn't it?
                    No, those of us with student children are unshocked by that level of borrowing/debt.My sons borrows about £1.90 for every pound he spends and is unable to account for any of it - he is an economic phenomenon all by himself.
                    'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

                    Comment


                      #11
                      I hope that he'll be OK once he becomes Chancellor of the Exchequer or Governor of the Bank of England.
                      JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                      1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                      2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                      3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                      4. *- Contact info: click on my name (blue-highlight link).

                      Comment


                        #12
                        Originally posted by jeffrey View Post
                        I hope that he'll be OK once he becomes Chancellor of the Exchequer or Governor of the Bank of England.
                        Yes, he would seem ideally suited to either job, I agree.

                        Plus, he can argue and spin until the cows come home without ever admitting/revealing what he knows is the truth - another useful qualification.
                        'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

                        Comment


                          #13
                          Congratulate him on his impersonation of Greece, hopefully without a riot in the kitchen.
                          Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

                          Comment


                            #14
                            Originally posted by leaseholdanswers View Post
                            Congratulate him on his impersonation of Greece, hopefully without a riot in the kitchen.
                            Sadly we get the riot in the kitchen as well. Actually, more like a full-scale massacre or anarchist film set - just to make a Marmite sandwich.
                            'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

                            Comment


                              #15
                              Originally posted by mind the gap View Post
                              Sadly we get the riot in the kitchen as well. Actually, more like a full-scale massacre or anarchist film set - just to make a Marmite sandwich.
                              Wait until he starts drinking and comes home and makes a snack- that will be real carnage!

                              My younger brother was once found, having fallen asleep, head and shoulders into the chest freezer.
                              Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

                              Comment

                              Latest Activity

                              Collapse

                              Working...
                              X