The Government has got the wrong idea!

[Tony]

What the hell has my decision to cut my living expenses by about a half through getting a mortgage rather than paying £500 a month to rent a flat got to do with the recession? Why am I suddenly to blame for the bad debts of the banks

 

Did you borrow more than the value of your property?

[Wildcat]

Of course you are right, except that overspending was taking place for many years before the banking crisis.

 

The Wall Street Crash took 10 years and a subsequent world war to recover from.

 

Except that we weren't overspending before the banking recession. Indeed I seem to recall endless cost efficiencies, a hundred thousand civil service jobs lost, and 2% pay deals.

 

This table explodes the myth about this crisis being as bad as Cameron makes out. The whole period from 1915-1975 our finances were in worse shape.

 

http://www.ukpublicspending.co.uk/uk_national_debt_chart.html

[Wildcat]

Did you borrow more than the value of your property?

 

I will end up paying back more than the value of my property. But I can afford to pay it back.

[Wildcat]

Foreign investment isn't a negative. But using it as an excuse to borrow money we can't afford as the rates are lower is clearly a bad idea.

 

I can't help but think your second question is being deliberately obtuse. The recession is directly caused by over-exposure to debt secured against a fragile housing market - hence anyone who is a borrower has contributed to this issue. Interesting how the previous government kept pointing the finger at banks for irresponsible lending but it's become increasingly clear they were involved in irresponsible borrowing.

 

So far as I can see it was fraudulent practices of banks that were responsible like the investigation going on in to Deutsche Bank for advising Kaupthing on how to hide its true share price. Nothing to do with the fact the banks offered me a mortgage cheaper than renting. Even if it was more fool them.

 

http://www.guardian.co.uk/business/2010/jun/06/kaupthing-deutsch-bank-iceland

[Darth Vader]

I don't quite understand the point of your rant?

 

It's little to do with Messrs Cameron or Clegg. We have to lay it all at the door of the outgoing PM. Mr Brown. His profligate ways have led to this massive debt we're suffering under.

 

We ARE all in it together, is the plain fact of the matter. How else do you suggest that the trillions of pounds are paid back, if we don't all pull together?

 

Maybe if everyone gave up their annual holiday and donated the cash to the Exchequer?

 

I think you need to get a grasp on reality. Thousands of families can not afford an annual holiday; those that need one most.

 

There is plenty of money to go round. Unfortunately, due to the greed of the few in this country, the many have to suffer and that is a philosophy that Camelegg are only too happy to promote.

[Tony]

I will end up paying back more than the value of my property. But I can afford to pay it back.

 

I didn't ask that.

 

Did you borrow more than the value of your property?

[crazybaby]

I'm just so glad that we're rid of the last shower of liars. When Brown took over as Chancellor government debt was 6bn look at it now, it just beggars belief that it could have risen to the level it is now.

[Daven]

I don't quite understand the point of your rant?

 

It's little to do with Messrs Cameron or Clegg. We have to lay it all at the door of the outgoing PM. Mr Brown. His profligate ways have led to this massive debt we're suffering under.

 

We ARE all in it together, is the plain fact of the matter. How else do you suggest that the trillions of pounds are paid back, if we don't all pull together?

 

Maybe if everyone gave up their annual holiday and donated the cash to the Exchequer?

 

Annual holiday? What annual holiday?!!

I, like many others, can't afford a few days away never mind an annual holiday.

Sadly, this time next year, there will be millions more in my situation.

[mj.scuba]

200 MPs get less than a sixtyeth of what one of the Tax payers alliance West Midlands backer's owns.

 

http://taxpayersalliance.org/news/the-secret-millionaires

 

I know what offends me most, and that is the super rich being jealous of a relatively small amount of remuneration received by people that are actually doing a worthwhile job.

 

That really is laughable.

 

1) The "golden goodbyes" is tax payers money.

2) What has the personal wealth of anybody got to do with the issue of wasting tax payers money?

3) Wasteful use of taxpayers money is of interest to all taxpayers, from the lowest paid to the mega rich on the highest tax band, after all they're tax payers too.

4) Tax Payers Alliance campaign against public sector non-jobs, unnecessary quangos and other wasteful public spending which ultimately benefits ALL taxpayers. If money can be saved it can be re-directed to front line services, employ more proper skilled workers like nurses (not just administrators and beaurocrats) and possibly however unlikely lead to lower taxes, though at the moment any savings will go to paying off the debt that Labour got us in to.

[Wildcat]

That really is laughable.

 

1) The "golden goodbyes" is tax payers money.

2) What has the personal wealth of anybody got to do with the issue of wasting tax payers money?

3) Wasteful use of taxpayers money is of interest to all taxpayers, from the lowest paid to the mega rich on the highest tax band, after all they're tax payers too.

4) Tax Payers Alliance campaign against public sector non-jobs, unnecessary quangos and other wasteful public spending which ultimately benefits ALL taxpayers. If money can be saved it can be re-directed to front line services, employ more proper skilled workers like nurses (not just administrators and beaurocrats) and possibly however unlikely lead to lower taxes, though at the moment any savings will go to paying off the debt that Labour got us in to.

 

1) yes

2) perspective. 50k handshake is about the daily income of those complaining.

3) remuneration for the job is not wasteful if it pays people enough that they don't feel the need to fiddle their expenses or sell their vote through taking funding like non job executive directorships

4) far better to invest in public sector like tax collectors that could investigate the finances and dodgy dealings of the tax avoiders in the "tax-payers alliance".