MrSmith Posted April 25, 2012 Share Posted April 25, 2012 The banks clearly borrowed huge sums of monies to companies whom were not so solvent. You did say people. The issue is banks. People run and own businesses. Link to comment Share on other sites More sharing options...
Mecky Posted April 25, 2012 Share Posted April 25, 2012 Capitalism is largely responsible for the high living standards that you and the rest of us in Sheffield enjoy. Without capitalism there would be no NHS, no free education, no benefits system, no council services, etc. Everything has a cost! Just because you're desperately jealous that some people have more money than you does not mean capitalism doesn't work. I'm assuming that's just a wind-up and you've just said that to get some kind of reaction rather than actually thinking about what you're writing. Link to comment Share on other sites More sharing options...
Fibutton Posted April 25, 2012 Share Posted April 25, 2012 Wonders why threads like this always descend into petty Lab/Lib/Con squabbling. Me too, whatever our politics, we're all in the same boat in this godforsaken economy - why we can't all pull together instead of arguing is beyond me! Link to comment Share on other sites More sharing options...
tinfoilhat Posted April 25, 2012 Share Posted April 25, 2012 I'm assuming that's just a wind-up and you've just said that to get some kind of reaction rather than actually thinking about what you're writing. How do you pay for it all then ? How do you generate the money ? Link to comment Share on other sites More sharing options...
Harleyman Posted April 25, 2012 Share Posted April 25, 2012 The whole of Europe is in a recession. It's a case of all the kings horses and all the kings men couldnt put Humpty together again. The French think that Francois Hollande, the socialist candidate who seems to promise that if elected will return France to the good old days of short work weeks, generous pensions, plenty of well paid jobs and 5 weeks a year paid holidays will be able to make that happen. He's also said that he will renegotiate the measures agreed on by Sarkozy and German Chancelloe Angela Merkel to work towards solving the Euro crisis which is tied to the current recession and which is also impacting Britain even if it is not in the Euro. Basically however it's all pie in the sky, political election rhetoric laced with promises to get votes. Europe has suffered a decline in it's export markets due to competition from China and lost jobs to third world cheap labour countries. Without jobs or industry an economy cannot grow, governments have less money to put into social programs and cuts need to be made. It's a case of spending much more money than what what is being taken in and if an individual were to manage his or her finances as such they would soon be completely bankrupt. In short, it doesnt matter which party is in power. There is no magical silver bullet. Leaner times are ahead not only for Europe but the US as well so we'd all better get used to it. Link to comment Share on other sites More sharing options...
Mecky Posted April 25, 2012 Share Posted April 25, 2012 How do you pay for it all then ? How do you generate the money ? What are you talking about? Link to comment Share on other sites More sharing options...
tinfoilhat Posted April 25, 2012 Share Posted April 25, 2012 What are you talking about? Sorry I thought you had some answers but it turns out it was just ideological sniping. Nothing to see here folks...… Link to comment Share on other sites More sharing options...
andygardener Posted April 25, 2012 Share Posted April 25, 2012 Why is this hypothetical lifestyle "unaffordable"? I only ask because my parents have a mortgage, and my girlfriend has a car on finance. I went to university. I'm just wondering why we're ultimately responsible for everything. ( Ps, you don't have to assume. When you make a statement, and I ask why, that normally means "why?". ) It's "unaffordable" because they couldn't afford to keep the show on the road and repay the money they borrowed, hence widescale defaults. If all the money that had been lent had been repaid as agreed then there would not have been a financial crisis. While the banks have a lot of responsibility for the problem so have the people who borrowed money they could not afford to repay. Link to comment Share on other sites More sharing options...
redruby Posted April 25, 2012 Share Posted April 25, 2012 There’s plenty of stuff out there dangled in front of peoples nose, the trick is to ignore them if you can't afford them. Why blame the banks, you may as well blame every business that supplies stuff you can’t afford. Of course you should ignore them. But you know, I know and the banks know that there are plenty that will rise to the bait. Link to comment Share on other sites More sharing options...
ricgem2002 Posted April 25, 2012 Share Posted April 25, 2012 While the banks have a lot of responsibility for the problem so have the people who borrowed money they could not afford to repay. that a bit like what this gov is doing now :hihi: Link to comment Share on other sites More sharing options...
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