Recession Phase II.

[David Johnson]

I don't think any of the political parties are denying that there needs to be cutbacks in government spending to deal with the deficit.

However, the Lib Dem Con coalition seems to be going through a comprehensive softening up process to get the population to accept enormous cuts. So Cameron states "our very way of life will be changed, possibly for decades" and that the state of the government's finances is far worse than expected.

First the interest being paid on the national debt was known about at the beginning of the year so I don't see how Cameron didnt know about it until now which is what he was saying in his speech earlier in the week. Secondly I don't see how an actual deficit that was 18 billion less for the last financial year than was forecast by Alistair Darling and an actual growth rate so far this year which is higher than Treasury predictions can be described as "finances far worse than expected".

I heard Clegg, Cameron and Danny Alexander going on about how substantial cuts in spending were achieved by Canada as a kind of model of how to do it. What Alexander didn't mention, which is not surprising for a guy who's previous job was Press Officer for the Cairngorms National Park, was that Canada was next door to a booming US economy at the time whereas Britain is next door to a Euroland in deep doodah.

The inevitable result in all of this doom and gloom from the Lib Dem Con coalition is that people are going to be scared into not spending anything in case they lose their house, job, services etc etc. And we end up with a double dip recession or depression which is exactly what the Labour party predicted if the savage cuts were brought in this year.

Cheers
D

[number 6]

How the fck can any self respecting person ever vote lib dem again?? I am serious,what the fck do they have to offer anymore?? They were wiped out at the general election and have basically forced the tories on us with an unmovable majority,the whole thing stinks.

[belfast_birty]

Everyone is entitled to their point of view.It's not a matter of which government might be best,but which is least bad,IMHO.

There's a real chance of a recession again,both here and in Europe.Many banks have not written off large,unperforming loans.You only have to see Hypo Real Estate,being rescued by the germans,for the second time!

Bankers certainly carry a lot of the blame,but what of the agencies and governments,who were supposed to oversee the financial sector?

Porn requires discretional spending.There will be less of that about,in the next 2 years.Even football is nor recession proof.

If you can manage your business without debt(as I have always done),then you have a chance.However being in the mainstream of your chosen business,is not the answer.You have to exploit niches.

''Cash is King''

[Von Boy]

Dave... why should my hard earned money be distributed to others? I pay my tax... I have properties in other countries and pay tax on them... I work hard... I want my kids to have my money not the taxman for someone else to have???

So why do we need to distributed my money????

If tough times are coming then work hard to pull out of it...

[David Johnson]

"Dave... why should my hard earned money be distributed to others? I pay my tax... I have properties in other countries and pay tax on them... I work hard... I want my kids to have my money not the taxman for someone else to have???"

You may get old, sick, lose your business or job. Your kids may want to be educated, go to college. They may get sick. In short, your life may change from being a wonderful world to something much darker.

In short, you and yours may need help at some time in your life.

If you don't want to live in a country that provides help, why don't you take a chance on keeping all your money and move to a third world country where you can die in the street if it all goes wrong?

D