Comments on: 5 reasons to borrow more?

By: Jon Grainge

Jon Grainge — Sat, 01 Nov 2008 17:43:33 +0000

I am somewhat confused!!!!!!! The banks appear to be fully responsible for the present financial situation and now Mr Brown borrows £37 Billion (some of which would appear to come from the banks themselves) to give back to the banks to buy shares and then to redistribute the money to business loans. So why do they not do that? As for bankers bonus's, they should be now made illegal. How dare they act so dispassionately. As for Barclays refusing to take advantage of the Governments plan and go the to middle east instead, total bloody shame on them. I say let every Barclays investor now withdrawn their funds from Barclays and put it elsewhere in UK.
If the banks where a proper business they would be insolvant: so why not let them go bust???????????

By: Paul Danon

Paul Danon — Fri, 31 Oct 2008 13:59:02 +0000

Lord Lamont writes in yesterday's Telegraph: "Between 1991 and 1998, Japan spent 100 trillion yen on new railway lines and other public works. Little good did it do. Its economy stagnated. Since 1991, Japan’s government debt as a proportion of GDP rose from 64 per cent of GDP in 1991 to 171 per cent this year. Japan is in a debt trap it can’t escape. Gordon Brown’s policies would take Britain down the Japanese route — with one important difference. Japan runs large trade surpluses and can fund its borrowing from domestic savers."

By: Keith

Keith — Tue, 28 Oct 2008 15:35:13 +0000

I'm with Phillip Downs here. What the hell is wrong with the Tory front bench people? They're letting Brown get away with the most outrageous lies and not challenging one of them.
Have they had their spines removed?

By: DavidH

DavidH — Tue, 28 Oct 2008 12:21:42 +0000

They'll print it.

By: Letters From A Tory

Letters From A Tory — Tue, 28 Oct 2008 11:47:53 +0000

I was pretty astonished to hear about projects such as CrossRail, the Olympics construction and the Thames waterway being brought forward, seeing as it will take years to plan and sort out the contracts. The effects won't be felt for years and the effects won't be felt anywhere outside London. http://lettersfromatory.wordpress.com

By: Henry Crun

Henry Crun — Tue, 28 Oct 2008 10:28:28 +0000

Words left out

We have been scammed, plain and simple. And the socialists have fallen for it hook, line and sinker, thinking that the bail-out somehow gives the people "power" over the banks, bankers and bankers' bonuses.

Mr Redwood, you have to get the front bench to up the ante now at PMQs and in the press in taking this mendacious bunch of charlatans running our country to task, expose their hypocrisy and lies. You also need to start taking the BBC to task, their pro-Labour bias is now so blatant that the only solution is privatisation and withdrawal of the licence fee.

I, for one, have had enough. I don't think that you and your colleagues have a real sense of the anger that Mr Brown and his cronies have instigated in the British people. They have pulled over our eyes for the past eleven years and the mainstream press are complicit in the New Labour fraud.

A general election can't come soon enough.

Apologies for digressing slightly off-topic.

By: Phillip Downs

Phillip Downs — Tue, 28 Oct 2008 09:52:01 +0000

Mike – In essence, the borrowing issue is simple. What I find so deeply disappointing at the moment is the lack of a coherent and effective Conservative response to Brown's proposals. This is a point for you John and it has been voiced so many times on this blog. I hope you are aware of the intensity of how utterly fed we are of the Government's proposals appearing unchallenged. The Conservatives need to oppose properly.

By: Adrian Peirson

Adrian Peirson — Tue, 28 Oct 2008 06:50:12 +0000

The Bailout, enslaves us all to this communist Regime, his BIG spend on Public sector will have us all working for the State.
Welcome to Gulag Britain.
Oh and the Border patrols they are setting up isn't to keep people out.
So Gordon Prints gilts valued at £40 billion per year and the Banks lend him unbacked Paper Currency at interest.

Why not Print £40 billion and issue that into the Economy, it's the same thing, except there would be no £40 billion to pay back, and no Interest.

Hey Presto, I've just saved us £40 billion.

The Quangos cost us £100 billion per annum, the EU Costs us £20 billion NET.
Two Illegal wars.

If Brown is a socialist like he says, he wouldn't have bailed out the Banks, he would have declared all Bank loans and Mortgages Null and void, Giving people their Cars, their homes and their Businesses free of charge.
( But he didn't, so who does Brown really work for, you and I, or the Global Bankers. )

doing this would have freed up around £500 Per month for most families.
They would have spent, so stimulating the economy that way.
New banks would have sprung up.
If Brown wants to help pensioners, it's easy, simply don't Tax Pensioners, Better yet, let them keep the whole of their annuity, not just the Interest. it belongs to them and their family, not the Pension company.
But no, he has done it the other way, Enslaving us by Taxes and now creating massive state workforce for his public sector build.
If Brown wants to save Sterling, all he has to do is Back it with Gold and silver, after all it's just lying around in the BoE Vault somewhere.
People will drop the dollar and the Euro for a currenct that has real intrinsic value, just like money should have.
Socialism was never about the People, it is about Absolute Power and Control over the Masses.

We are no longer free, we are enslaved to the state.

By: Donitz

Donitz — Mon, 27 Oct 2008 20:54:13 +0000

Welcome to the world of the Socialist. Old Labour, New Labour it all comes back to tax, borrow and spend until bankrupt.

By: anoneumouse

anoneumouse — Mon, 27 Oct 2008 20:51:26 +0000

What happens when the IMF runs out of money?

With most governments in the world strapped for cash due to bailing out the banks. What will happen when the IMF runs out of money?

The IMF total quotas at end-August 2008 was SDR (funny money) 217.4 billion (about $341 billion).

That will only bail out 21 countries = to that required by Ukrain