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Will UK plc crash like so many others?


thewilliam e2
6 4.9k
5 Oct 2013 11:22AM
The other day, I read that the UK sovereign debt is now six times GDP. This is higher than Greece and the other countries that are now effectively in administration.

How does UK plc manage to keep trading?

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NaturesHaven e2
3 261 5 England
5 Oct 2013 11:38AM
I say get fracking.................and quick.............why.......cos we need the fracking money...............GrinGrinGrinGrinGrin
Hallie e2
1 166 United Kingdom
5 Oct 2013 11:47AM
Take the Icelandic example and sack the government would be a good start Wink

Thereafter, as its alleged we live in a democracy actually elect people who are responsible and appoint a Chancellor who has some qualification to do the job Smile
collywobles e2
10 3.4k 9 United Kingdom
5 Oct 2013 12:01PM
Because at the end of the day we produce wealth. Now that wealth is no longer in the manufacturing industries but in the Finance and Banking sector, in addition to Tourism and Science. We also have a high employment compared to southern Europe. This all goes to give a certain confidence which has a positive knock on the to the economy.

In Greece you can/could retire at 55, now that's a recipe for failure to be sure.


Quote:Thereafter, as its alleged we live in a democracy actually elect people who are responsible and appoint a Chancellor who has some qualification to do the job Smile


.... and in your expert opinion, what qualifications would they be? Do you honestly vote at all elections?
Hallie e2
1 166 United Kingdom
5 Oct 2013 12:32PM

Quote:Because at the end of the day we produce wealth. Now that wealth is no longer in the manufacturing industries but in the Finance and Banking sector, in addition to Tourism and Science.


The finance sector produce wealth for themselves not others. The evidence is there.


Quote:.... and in your expert opinion, what qualifications would they be? Do you honestly vote at all elections?


Someone who has a social conscience and understands that unregulated capitalism is unsustainable, who recognises the financial sector are entirely out for themselves and who will ensure banks and corporations pay their fair share into society by scrapping off shore tax havens and holding tax avoiders to account. That would be a start. Simply appointing your buddy because he's from the same privileged background as you isn't affective, as we see.

Of course I vote, not that I have faith or any real belief that it can influence much, as far as I can see its the same sh*t repeated which ever flag is flying Wink
thewilliam e2
6 4.9k
5 Oct 2013 12:49PM
People who rob banks are sent to prison, but bankers who rob people are given bonuses!

In ancient Rome, only the plebs had to pay taxes and patricians were exempt: has anything changed?
tpfkapm e2
3 151 United Kingdom
5 Oct 2013 2:28PM
Iceland recovered through a bold manoeuvre and a refusal to bail out the banks
Nothing is inevitable
http://www.forbes.com/sites/traceygreenstein/2013/02/20/icelands-stabilized-economy-is-a-surprising-success-story/
keith selmes
11 7.1k 1 United Kingdom
5 Oct 2013 2:31PM

Quote:In ancient Rome, only the plebs had to pay taxes and patricians were exempt: has anything changed?

we don't get the free bread and circuses now, that's changed.
and the climate has changed. when you had a proper roman empire it was warmer.
they did a lot for us, the romans did.
and money was real, not like this paper money what we have now, quantitatively easing like it is.
thewilliam e2
6 4.9k
5 Oct 2013 3:02PM
I'm convinced that QE was designed to allow "our people" to steal from the public purse.

While on this subject, what happened to all the wealth from North Sea oil? Was it stolen or just squandered?
Hallie e2
1 166 United Kingdom
5 Oct 2013 3:29PM

Quote:I'm convinced that QE was designed to allow "our people" to steal from the public purse.


Financial institutions have an organised way of coming up with terms and concepts that few people understand, in some cases those very institutions cant explain what it means. Law is similar, closed wealthy private institutions that can manipulate a situation to their own gain, that most people have no understanding of. Not that I do, but the cycle of banking boom/bust and the history behind banking since they became private institutions makes for an interesting read. Its hugely beneficial to have the political class in their pockets but, not essential. As JP Morgan said ' give me control of the money and I don't care who runs the politics'. Says a lot Wink
parallax e2
5 121 United Kingdom
5 Oct 2013 3:37PM
The system has to change.
We are at the mercy of careerist politicians from all parties who line their own pockets and dump any promises/principles as soon as they get in power.
Our pensions have been ransacked and yet the politicians vote through gold plated schemes for themselves together with an army of overpaid self-important managers who are everywhere in the public sector.
Our London-centric economy and it's over reliance on the banking bandits with their convoluted thievery has left us in a perilous state.
But can we change, or will the inclination towards greed and endless consumerism eventually be our doom.
Time will tell...
Anyway I'm of for a pint after that rant.
Carabosse e2
11 39.7k 269 England
5 Oct 2013 4:11PM

Quote:The other day, I read that the UK sovereign debt is now six times GDP. This is higher than Greece and the other countries that are now effectively in administration.

How does UK plc manage to keep trading?



The bust is as artificial as the boom. Unlike real companies, UK plc can print its own money.... so we will never run short! Wink
dcash29 e2
9 2.0k England
5 Oct 2013 5:14PM
It will do one day if we keep allowing people in the country and paying for everyone else.
collywobles e2
10 3.4k 9 United Kingdom
5 Oct 2013 5:48PM

Quote:The finance sector produce wealth for themselves not others. The evidence is there.

Someone who has a social conscience and understands that unregulated capitalism is unsustainable, who recognises the financial sector are entirely out for themselves and who will ensure banks and corporations pay their fair share into society by scrapping off shore tax havens and holding tax avoiders to account. That would be a start. Simply appointing your buddy because he's from the same privileged background as you isn't affective, as we see.



Such a left wing rant about banks and the rich. The Finance Sector adds millions to the UK economy, it employs thousands of people who earn good money which is being spent in our economy to support thousands of additional people. In addition they pay high taxes which contributes to the wealth of the country and pays for all the benefits we are so good at giving out.

I presume that if you were in a position to give a son or daughter a job then you would also "Simply appointing your buddy because he's from the same privileged background as you isn't affective, as we see". Nothing wrong with that!

Finally unregulated capitalism is a preference to unregulated socialism as failure of all the communist economies has proven.
collywobles e2
10 3.4k 9 United Kingdom
5 Oct 2013 5:50PM

Quote:I'm convinced that QE was designed to allow "our people" to steal from the public purse.


Speechless, you don't even know what QE is.

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