Prepare for meltdown

[Blade]

Well this is a very scary stat and seems we're no better than Greece but at least we have a economy capable of repaying the debt.

UK national debt is £1.56 TRILLION

The annual interest on that dbet is £43 billion

[duke63]

The UK has not gone bust simply because it can print its own new money.... or quantitive easing as they try and pass it off as.

[Blade]

I have heard of this quantutive easing Duke but have to admit I don't really know what it is. Is there a simple definition any where ?

[duke63]

The government just print more money and use it to buy bonds, so the money is pushed into the financial system.

If you put more money into the system then you are effectively re inflating the economy. The downside is that done to excess it causes inflation.

Its unearned money so not a great idea unless circumstances are pretty bleak.

http://www.bankofengland.co.uk/monetary ... fault.aspx" onclick="window.open(this.href);return false;

Its been used a lot since the banks crashed in 2008.

[Kwacky]

Inflation in the UK is too low, so expect to see more of this over the next 2 to 3 years.

[D6]

So how come when I print my own money its called fraud? Bastards.

[Blade]

I would quite happliy see inflation. Would mean decent wage rises and some interest on savings.

[Kwacky]

Savings maybe, but I can't see payrises coming in. It won't be long before Zero Hours Contracts are the norm.

[duke63]

Governments like inflation when they are heavily in debt as it reduces their debt burden without them doing anything.

[Binno]

Savings maybe, but I can't see payrises coming in. It won't be long before Zero Hours Contracts are the norm.

Depends on the area of work I guess.

My money is now above what I was earning when things were booming . 7 years of slow work has seen a big gap in the trades taking on young lads therefore now everyone's order book is full but no one has lads to put on them. Anyone already with skills can name their price. And I got dem mad skillz.

Happy days for me.

[Kwacky]

There is a lack of skilled labour. But that's thanks to previous governments telling everyone to stay in school and get some piece of paper telling the world they've qualified in the history of napkin folding.

[Deegee]

It wouldn't be so bad if all the school leavers could actually read, write and do simple arithmetic, some of the teens I've met as "apprentices" at customers premises really don't belong in engineering and tbh don't seem to want a job at all. I really have no idea idea where all the hands on engineers will come from in the future.

[Blade]

I know what you mean Deegee we have had some right nuggets come through our place and at the end of the day they just don't get take on. The lads we have taken are are absolutely first class so don't loose faith there are some kids out there its just getting harder to find them unfortunately.

[D6]

So what's the latest with Greece?

[Jack]

riots

[Perkles]

kebabs and a piss up

[Kwacky]

Athens currently looks like it's on fire. http://news.sky.com/story/1520696/massi ... ek-capital" onclick="window.open(this.href);return false;

[Blade]

Crikey those kebabs are going to be well burnt.