Nick robinson bbc

[JC02]

The country is bankrupt. Thanks to GB and his cronies. To pretend otherwise shows delusion.

 

Bankrupt, is it... please explain?

[Grandad.Malky]

Bankrupt, is it... please explain?

 

Greece is bankrupt, Britain still as a triple A rating.

[Berberis]

We aren't bankrupt, in fact we are worth 9 Trillion and don't let others tell you differently.

 

The wealth isn't fairly distributed but it is there.

 

http://news.bbc.co.uk/1/hi/business/8405901.stm

 

The BBC finally report the correct figures: http://news.bbc.co.uk/1/hi/business/10118346.stm

 

The total worth of households' property, savings and investments, was £6.3 trillion ($9 trillion) at the end of last year.

 

As I have said all along, and as titanic has refused to concede, the £9 trillion figures was completely wrong and was disputed by the data published by the ONS.

 

Hopefully this will be the end of the monotonous droning on about us all being worth £9 trillion under the now defunct Labour government. It was simply wrong, even the BBC no longer accept that figure.

[Vague_Boy]

nick robinson just cannot stop having a go at brown

 

Hmm... sounds like a sensible sort.

 

Greece is bankrupt, Britain still as a triple A rating.

 

Only just. We nearly lost it a year ago.

 

Credit ratings agency Standard & Poor’s yesterday effectively threatened to take away our AAA-credit rating. It downgraded the outlook for the UK from "stable" to "negative", citing concerns about soaring public debt.

 

LINK

 

Britain 'within a whisker of losing its triple A credit rating'

 

Put another way, nearly 10 per cent of everything the Government receives in taxes and other forms of income will soon be consumed servicing the national debt, which means less money for everything else.

 

In itself this might seem bad enough, but the reason it is of more than purely shock significance is that 10 per cent is one of the key trigger points used by Moody’s, the credit rating agency, for assessing whether triple A rated countries are vulnerable to a downgrade

 

LINK

 

 

And more recently (May 22, 2010)

 

Fears that Britain may lose its coveted triple-A credit rating sent shudders through global financial markets Thursday as investors worried the debt-racked United States could face a similar fate, forcing taxes and borrowing costs higher in the years ahead.

 

Standard & Poor’s put the United Kingdom on notice, revising its credit rating outlook to "negative" from "stable" on concern the government’s debt burden could approach 100% of GDP by 2013 and remain at that level for some time.

 

LINK

 

Of course, that's assuming that a Triple A rating means anything these days:

 

the e-mail messages you should be focusing on are the ones from employees at the credit rating agencies, which bestowed AAA ratings on hundreds of billions of dollars’ worth of dubious assets, nearly all of which have since turned out to be toxic waste. And no, that’s not hyperbole: of AAA-rated subprime-mortgage-backed securities issued in 2006, 93 percent — 93 percent! — have now been downgraded to junk status.

 

What those e-mails reveal is a deeply corrupt system. And it’s a system that financial reform, as currently proposed, wouldn’t fix.

 

LINK

 

Yes, subprime mortgages were once rated AAA. And we know what happend next, don't we?

[kenny gray]

during the election they had several economist on who said quiet clearly the u.k could afford to go even deeper in debt without it being a problem.so if vague boy knows more than the best financial brains around please give us his answer to solve what he sees as the problem.and answer me one question would he have let the banks go to the wall?

[Grandad.Malky]

if vague boy knows more than the best financial brains around please give us his answer to solve what he sees as the problem.and answer me one question would he have let the banks go to the wall?

 

Further to that point why was the B / B wound up while others were bailed out.

[Grandad.Malky]

 

As I have said all along, and as titanic has refused to concede, the £9 trillion figures was completely wrong and was disputed by the data published by the ONS.

 

Hopefully this will be the end of the monotonous droning on about us all being worth £9 trillion under the now defunct Labour government. It was simply wrong, even the BBC no longer accept that figure.

 

Who about $9 trillion .

 

http://news.bbc.co.uk/1/hi/business/10118346.stm

[Berberis]

Who about $9 trillion .

 

http://news.bbc.co.uk/1/hi/business/10118346.stm

 

Titanic has been quoting £9 trillion, and even after being told and shown that figures was wrong, he/she is still quoting the same figure.

[Grandad.Malky]

Titanic has been quoting £9 trillion, and even after being told and shown that figures was wrong, he/she is still quoting the same figure.

 

Fair enough but the $9 trillion figure is just for houses and savings so the counties wealth is going to be somewhat higher.

 

The total worth of households' property, savings and investments, was £6.3 trillion ($9 trillion) at the end of last year.

[Titanic99]

The BBC finally report the correct figures: http://news.bbc.co.uk/1/hi/business/10118346.stm

 

 

 

As I have said all along, and as titanic has refused to concede, the £9 trillion figures was completely wrong and was disputed by the data published by the ONS.

 

Hopefully this will be the end of the monotonous droning on about us all being worth £9 trillion under the now defunct Labour government. It was simply wrong, even the BBC no longer accept that figure.

 

Oh dear welcome to your version of Bigotgate, as Malky has pointed out the article you've linked is only for Household wealth and unless I'm mistaken you can't go to the Government and ask them for all their assets for free (unless you are a Libdem politician of course), meaning the real value of the UK is the 9 Trillion as quoted previously by the same people you are quoting for household wealth and that you have showed the same level of attention to detail as I would expect from a Tory minister.

 

Maybe now this will put an end to your monotonous droning about how I've got it wrong, but thanks for pointing out how wealthy people got under Labour and maybe you'd like to speculate whether the "Coalition of the Condemned" will create more wealth than this.