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Thread: Austerity!!

  1. #1
    Join Date
    May 2012
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    Question Austerity!!

    I keep hearing this word on the news about life in the UK just now. Damn cheek, because the last time it was used I think was after WW2 when food, clothes,and petrol were rationed. A better way to describe it is the UK and Europe trying to learn to live within their means and stopping piling up debt for our kids to pay off.

    Do the news programs in New Zealand bang on about austerity or something like it?

  2. #2
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    One word answer... No!

    The NZ government had the budget today http://www.stuff.co.nz/business/budget-2012/ and this has been heavily covered on the TV & radio times. Usual boring stuff that has been pre-announced over the past few weeks.

    I still listen to BBC Radio 5 via the internet and I'm so pleased I moved here.

  3. #3
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    Much of the western world and Japan are in very deep economic trouble. For many years they have lived it up on borrowed money.

    This year 25 of every 100 spent by the government of the UK has been borrowed.

    However, when the UK government talks about trying to cut spending cries of complaint are the result.

    People think the government should borrow money and give to them for nothing so they can enjoy a good life that they cannot afford.

    The longer the government credit card binge goes on the harder the landing will be. Then there will be real austerity.

    New Zealand's spending is not out of control like this. The New Zealand government will have a surplus again in 2014.

    British people need to accept getting poorer or work harder to provide products and services the rest of the world wants at a competitive price.

  4. #4
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    Quote Originally Posted by rogercruse View Post
    One word answer... No!
    Except for the frontpage of the Herald today...



    Daniela

  5. #5
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    Quote Originally Posted by dharder View Post
    Except for the frontpage of the Herald today...



    Daniela
    I don't know what's going on with The Herald. They seem to have gone all tabloidy lately. It's an insult to those countries in Europe having problems if they think anything that is happening here economically is austerity.

  6. #6
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    Quote Originally Posted by happy_az View Post
    I don't know what's going on with The Herald. They seem to have gone all tabloidy lately.
    It's never been a quality paper (well, since I've been reading it), and I often use it as an example of what bad writing is when I try to explain to my children the differences in style, newspapers and writing, or the inappropriate use of some words and apostrophes.

    So I wouldn't worry too much about what is written in there

    Daniela

  7. #7
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    Nah, but I don't think people here were ever so free with money as they were in the US (sorry that's all I can compare it too). Things are budgeted tightly for most families, even if you have a good income. The global recession hasn't been anything like as terrible here, but people are being conservative with their funds just in case they loose their job. This is particularly true in Wellington, where the government is shedding jobs. I'm not sure about the rest of the country.

    BTW, television here is lousy, you can live happily without one. Then you won't have to listen to anyone banging on about anything.

  8. #8
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    Sep 2011
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    Attachment 2720

    It's extremely simple. The privately owned Bank of England is printing money like mad trying similar to the 20's and once again trying to create war for profit.

    NZ however, is not doing it quite as fast and so is more peaceful.

    Graph gold as your base currency and compare places like Argentina to Switzerland and it's very clear what's really the source of a countries wealth.

  9. #9
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    The privately owned Bank of England is printing money like mad trying similar to the 20's and once again trying to create war for profit.
    Hang on! This is an extremely sweeping statement, particularly the end of the sentence. About an individual rather than an institution, it could be actionable for libel. Sources? Data for the comparison? Evidence?

    If you're referring back to the attachment, it doesn't open.

  10. #10
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    Quote Originally Posted by jago25_98 View Post
    Attachment 2720

    It's extremely simple. The privately owned Bank of England is printing money like mad trying similar to the 20's and once again trying to create war for profit.

    NZ however, is not doing it quite as fast and so is more peaceful.

    Graph gold as your base currency and compare places like Argentina to Switzerland and it's very clear what's really the source of a countries wealth.
    The Bank of England is not privately owned. It was nationalised in 1946 by the Treasury and so it has remained. Any money it makes by printing money is government revenue.

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