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Dewi9
11th October 2018, 11:22 PM
Has anyone seen the article in the FT(Financial Times) giving an alternative view on UK finances ?

It would seem we are near the bottom of this league table as mostly all of our National Assets (the Family Silver) has been flogged off over the years - which we all knew, of course.

So, should we suddenly be asked to 'balance the books', we are likely to be declared bankrupt.

Hey Ho, more depressing news. To read more, follow the link -

https://www.ft.com/content/3ee09db6-cbb8-11e8-b276-b9069bde0956

David

Harold Gough
12th October 2018, 06:50 AM
To read more, follow the link -

https://www.ft.com/content/3ee09db6-cbb8-11e8-b276-b9069bde0956

David

To read the article I need to subscribe.

Anyway, I believe that I heard, somewhere, a few years ago, that a country cannot become bankrupt.

Harold

Naughty Nigel
12th October 2018, 07:25 AM
Has anyone seen the article in the FT(Financial Times) giving an alternative view on UK finances ?

It would seem we are near the bottom of this league table as mostly all of our National Assets (the Family Silver) has been flogged off over the years - which we all knew, of course.

So, should we suddenly be asked to 'balance the books', we are likely to be declared bankrupt.

Hey Ho, more depressing news. To read more, follow the link -

https://www.ft.com/content/3ee09db6-cbb8-11e8-b276-b9069bde0956

David


Oh. :eek: So who sold the family silver, or rather our gold reserves?

Doesn't sound very prudent to me.

Harold Gough
12th October 2018, 07:51 AM
Oh. :eek: So who sold the family silver, or rather our gold reserves?

Doesn't sound very prudent to me.

Gordon Brown, at the very bottom of the market!

Harold

TimP
12th October 2018, 07:54 AM
Oh. :eek: So who sold the family silver, or rather our gold reserves?

Doesn't sound very prudent to me.

Both parties (Con and Lab)

Conservative gave away all the utilities and Labour (principally Gordon Brown) blew all the actual gold, silver, pension funds etc.
so I don’t think this is something you can lump on to one particular policital party unless you want to blame politicians of all governing parties - which actually sounds about right to me.
Locally the various LAs are all talking about selling off this building or that plot of land to make up a shortfall in finances, too stupid to realise you can only sell the family silver once and then what do you do?

Internaut
15th October 2018, 08:18 PM
To read the article I need to subscribe.

Anyway, I believe that I heard, somewhere, a few years ago, that a country cannot become bankrupt.

Harold

If you Google the article, you might be able to read it (think they allow one free article a day). As for whether or not a country can go bankrupt, we might be about to find out...

Wally
15th October 2018, 08:47 PM
EU policy of fudge and delay may work with the UK, but not for Italy

:eek: More fudge, anyone... --> https://www.telegraph.co.uk/business/2018/10/08/italian-banks-caught-vicious-circle-bond-spreads-hit-danger/

Naughty Nigel
15th October 2018, 09:22 PM
As for whether or not a country can go bankrupt, we might be about to find out...

Venezuela seems to be getting close to bankruptcy despite its mineral wealth.

Give Jeremy a five year term and we may well follow. :(

Harold Gough
16th October 2018, 06:46 AM
Venezuela seems to be getting close to bankruptcy despite its mineral wealth.

I hope you are reading this, Donald:

"However, such populist policies later became inadequate, causing the nation's collapse as their excesses—including a uniquely extreme fossil fuel subsidy—are widely blamed for destabilizing the nation's economy".

Harold

Wally
16th October 2018, 09:20 AM
*yes Breaking news... but not as we know it ;)


What he said: I’m pleased to announce the Budget will take place on 29 October. I’ll set out how our balanced approach is getting debt falling while supporting our vital public services, and how we are building a stronger, more prosperous economy.


My interpretation: The Chancer of the Exchequer, Philip Hammond, has announced that the Fudget will take place on 29 October.

This will set out the government’s plan to build a stronger, more prosperous economy, building on the recent Spring Statement and last year’s Fudget.