Debt Generation Web Site

Yo G,

I like the audio clips, much better than reading it myself. Shame you didn't eq the bass plosives out.

An audio book would be great for kids bedtime.

http://www.myspace.com/strangetowncollective

Unclear,

my thinking about the cuts is first and foremost that we are presented with a false either/or decision about the nation's debts. We are told either we make cuts to public spending Or we continue to borrow and print.

I think it is true, we cannot go on borrowing because it will increase our borrowing costs to a point where we endanger our sovereignty. Therefore I am in favour of cutting our debts and our spending.

I reject as a lie the notion that the only and necessary place for cuts to fall is upon public spending.

If we want to cut our national debt then cut the TRILLION pounds being used to keep afloat moribund banks. THAT option has been purposefully left out entirely from our political discussion. We could start to withdraw support, put back bonds aquired form the banks and make them mark to market on a strict schedule. If and when they went under we could 'aquire' their assets and add their value to the public purse.

To be more specific about cuts to public spending. I think there are areas of public spending that should be looked at carefully. Pubic spending is not sacrosanct nor open ended.

I am also very much in favour of governments of all stripes being honest about the longer term un-funded obligations that have, for a generation been swept under the carpet – Pensions being foremost.

NOT just public pensions. The lies and insolvency are right across public and corporate. It is a party political mess each party has had a hand in compounding.

Thus I am 'against' the 'cuts regime' as it currenty exists. I see it as political opportunism. The Tory right and LibDem mini-me Right have always wanted to burn the welfare state. They have never been given a mandate through the ballot box. This, they clearly see, is their chance to achieve in the name of a finanacial 'crisis' what they could not achieve democratically.

What none of our pussilanimous leaders will do is admit that the reason our borrowing is at the levels it is, is due to borrowing and spending on banks in only two years, several times the level of debts we had accumulated over decades prior to the bankers crisis.

There is a debt crisis. The banks caused our debts to ballon not public or welfare spending.

Thanks for the feedback oin the site Rich.

Great if we can meet up. I'll look forward to it.

http://www.bloomberg.com/news/2010-10-15/former-countrywide-officials-mozilo-sieracki-sambol-to-settle-sec-claims.html

“Mozilo’s record penalty is the fitting outcome for a corporate executive who deliberately disregarded his duties to investors by concealing what he saw from inside the executive suite, a looming disaster in which Countrywide was buckling under the weight of increasing risky mortgage underwriting, mounting defaults and delinquencies, and a deteriorating business model,” Robert Khuzami, director of the SEC’s enforcement division, said in the statement.

Getting away with it is a fitting outcome?

Being made homeless in the middle of winter is a fitting outcome.

I wish i was a banker.

Got enough for a small army.

Not enough stakes to go round would be a great problem to have though.