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BohoPixie
Skinny Dipper
Joined: 26 Aug 2006
Posts: 3115
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 Posted: Thu Nov 27, 2008 10:46 am Post subject: State of this country |
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My beloved Woolworths, shitty MFI now PC world.
It's depressing just turning the news on and if giants like these can't survive what chance do small businesses have.
Geoffs shop was turning over £1,500 a day this time last year, they took £480 yesterday and everyone who comes in says 'Well at least you're not affected, everyone needs food'
They may well do but where are they buying it 
It's a shocking state of affairs, and you gotta wonder who has mcbroon borrowed all this cash off? Which country are we now £2 billion in debt to. 
</rant> |
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mcdogs
Diving In
Joined: 02 Sep 2006
Posts: 1518
Location: Looking for love (or lust if it comes first)
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| Posted: Tue Dec 02, 2008 9:03 am Post subject: |
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I found a Ford dealership yesterday doing BOGOF on cars, now thats a sign of recession!
P.S this aint a joke  |
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BohoPixie
Skinny Dipper
Joined: 26 Aug 2006
Posts: 3115
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| Posted: Tue Dec 02, 2008 10:40 am Post subject: |
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Tragic isn't it  
SO many people out of work for xmas |
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MrLove
Paddler
Joined: 02 Sep 2006
Posts: 82
Location: Depends where I am! :o)
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| Posted: Sat Dec 13, 2008 1:22 am Post subject: |
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| Which country are we now £2 billion in debt to |
 I may be wrong here, this is what I understand is happening
It’s not that we owe a single country money….. it’s not real money! Long gone are the days when banks held gold to cover their printed money. Now it’s just numbers on a balance sheet.
I’ll explain :
You work for a Farm…
You get paid by direct bank transfer, a computer take an amount from one account and adds it to yours.
You go shopping at Tesco… you pay by debit card… more computers moving numbers
Tesco buys bread from the baker… more computers, more numbers
The baker buys flour from a mill…. More numbers
The mill buys wheat from your farm…. Another bank transfer…
Next month, the farm pays you
No “money” has moved…. Just numbers….
If you need to put more money into the system, you just “transfer” more numbers.
The effect of adding numbers is devaluation, which is what is happening to the pound. In the summer, a pound was worth 1.87 USD now, it’s as low as 1.37 (not good for those planning a trip to the USA this Christmas!).
All this started (in the UK) because a single bank was worried that they were running out of numbers. So they did the sensible thing, they spoke to a bank manager, the manager of the bank of England.
They didn’t borrow money, they just made an arrangement that it they DID need it, that they could borrow x million pounds. Something that has been happening for years and years.
Because of some stupid rule this stupid government put in place, the manager of the bank of England had to declare this arrangement. This was put in the press as “Northern Rock has no money!”, in other words “insolvent”….. 18 months down the road…. The country is now FUBAR’erd
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BohoPixie
Skinny Dipper
Joined: 26 Aug 2006
Posts: 3115
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| Posted: Sat Dec 13, 2008 12:26 pm Post subject: |
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That is so true Austen  |
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jamesb991999
Toe Dipper
Joined: 16 Mar 2009
Posts: 37
Location: Birmingham
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| Posted: Thu Mar 19, 2009 3:48 pm Post subject: yes |
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Although the reason for introducing the new currency is tenfold -
first it will devalue the base currency but is expected to increase the amounf of lending in an exponential way (for example if they pump in 70billion then they expect the banks to lend 200 billion... It has worked on paper where it's been done before), however that was all in other situations - we have not got the same situation in this country as we have ever had before..
It's not all backed by gold but each computer number is still backed by the government which is effectively backing it based on our resources - so even though the backing is invisible it's still there...
Many currencies around the world are looking like they are about to fold though to be honest so we are not alone in this - The Euro is the next one which is going to drop.... I foresee the pound rallying massively against the Euro this year, and the dollar will drop further once the Obama effect has worn off a little. |
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BohoPixie
Skinny Dipper
Joined: 26 Aug 2006
Posts: 3115
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| Posted: Fri Mar 20, 2009 10:29 am Post subject: |
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It's not rallying quick enough I'm off to Spain in three weeks!
Seriously though, printing more money can never be a good idea. Stories of people in Germany burning money because it was worth less than firewood spring to mind! |
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