Tuesday, 30 March 2010

The economic recovery.

MonopolyImage by elycefeliz via Flickr

I find it very annoying to say the least when I listen to the plans the budding parties have for our economic recovery.
All three of the main parties agree that the credit crunch has left us with billions of pounds deficit in the economy, and that WE the taxpayers will have to pay extra taxes to recover the money (plus interest) on the loans.
WE have to pay extra taxes to recover OUR money that THEY loaned to the banks with no mention of the banks repaying any of the loans, or any allowances made in the economic recovery for any such money forthcoming.

It seems to me that we loaned the money, and we have to pay back the money to ourselves, (plus interest) while the banks get off Scot free, and the bankers walk away with large bonuses every year.


Conning us out of billions of pounds they managed to evaporate into thin air.

I wonder how my bank manager would respond if I asked for a loan, suggesting the same repayment method, which would be, having them repay the loan, "to me" that I received. (With interest of course.)

Somehow or other I think I would be shown the door, which makes me ask the question.
Why are WE lumbered with the debts THEY owe us?

We the taxpayer managed to accrue the billions of pounds that was loaned to the banks, albeit while being heavily taxed, but why do we need to have EXTRA taxes added on to accumulate this money again when we managed to save the billions without these extra taxes.

The government borrowed money over and above the money the taxpayers were forced to donate.

Where did this money come from when the credit crunch is supposed to be a world wide crises?
Who are we paying these loans to with the added interest?

I thought "MONOPOLY" was a board game, but it seems to me that the governments of this world are playing it on a world wide scale, using imaginary money that can be won or lost with the only losers being the taxpayers.

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  1. I love that "Scot free." And yes, it is Monopoly on a world-wide scale with the taxpayers being the losers.


  2. Cheers Maxi, the governments are the only ones to throw double sixes, and pass go, while we the public always seem to land in jail.

  3. Besides the unbelievable spending our government is doing they now admit to billions of dollars in unfunded pensions funds which we will have to deal with..it just keep getting better here. I may elect to become a Canadian.

    Thus, I understand your frustration we have it here as well.

    Dorothy from grammology

  4. But the ones being hurt the worst by this unemployment epidemic are the poor. Check out the following chart. At the end of 2009, the unemployment rate for those at the top end of the income scale in the United States was about 3%.