Invest in people, not Banks.

[Jim Sarakun]

Last week whist going about my business, I was listening to a local radio station, somewhere near Liverpool. The discussion that was taking place, I found VERY interesting. On my return home I tried to find the radio station that aired it, then surfed the tabloid web sites for anything further, all to no avail.

 

I was probably not using the correct key words and even tried on PW, but again a dead end. Follow this link. "Clicky" . You only need read the headlines, or follow the links should you wish, all good reading, well, it is the Sun, the only web site that I could find with content anything remotely like the radio station I was listening to.

 

What they were talking about is as follows; As we all know, the tax payer is forever being shafted. The country is in the toilet, as is the rest of the World, we need to get out of Europe and bring manufacturing and employment back to this country etc, etc. The main crux of the show, was about how the Banks have failed, are NOT lending like they should be, and we, sorry, our Government, keep throwing good money after bad and bailing them out, again and again, and soon, AGAIN, with tax payers money.

 

£76 billion was bandied around for the next recovery injection, so don't expect to heat your swimming pool THIS winter, because as usual, it is tax payers money.

 

Now this guy on the show, who's name escapes me, was saying that this money will be held by the Banks, wasted in some obscure way, used to pay bonus's, blahdeeblah and disappear like the cash used in the other bail outs.

 

HOW TRUE.

 

His suggestion, which caused an uproar, but I loved it, was NOT to give it to the Banks as they can no longer be trusted, but distribute it amongst taxpayers, which would give every WORKING family about 4 grand. It would be given in vouchers, to be spent in the High Street, to pay off bills and debt's, of which I am sure that all of us normal folk have, and would love to see the back of. The money had to be SPENT, and could NOT be saved by those in receipt. This he suggested, would ensure that the money was being circulated and not hidden in a vault. For how long this fix would last is anybody's guess, though he stated, and I liked this bit, it would put some faith back into the working people who have been run over roughshod by successive Governments.

 

What a fantastic idea!

 

What do PW members think?

 

Did any other members hear this show, or has this kind of fix been reported anywhere else, as I probably can not see for looking.

[THE MEK]

it was mentioned on question time last thursday night, which was held in liverpool if i remember right. sounds like a good idea if the money was really there.

[Vipa]

There is a 'slight' issue with this logic...

 

The whole point of quantatative easing is literally printing money and injecting it into the system to 'lubricate' the cogs and get the cash flowing, it ISN'T bailing out the banks! It is just reducing the fiscal risk to them lending money to small businesses which is what is needed to stimulate growth.

 

If the government handed out £4k to every adult in the country and was told to 'go spend it,' where do you think (or into which economy) that money, all £76bn of it would end up? Britain???

 

wrong...

 

China!

 

So..... what doing that would actually achieve would be to help China's economy, not ours!

[Bradders]

Most of mine would end up in Faversham and Shepherd Neame

Edited October 10, 2011 by Bradders

[Jim Sarakun]

There is a 'slight' issue with this logic...

 

The whole point of quantatative easing is literally printing money and injecting it into the system to 'lubricate' the cogs and get the cash flowing, it ISN'T bailing out the banks! It is just reducing the fiscal risk to them lending money to small businesses which is what is needed to stimulate growth.

 

If the government handed out £4k to every adult in the country and was told to 'go spend it,' where do you think (or into which economy) that money, all £76bn of it would end up? Britain???

 

wrong...

 

China!

 

So..... what doing that would actually achieve would be to help China's economy, not ours!

 

Mmm, yes, that sounds about right. I suppose though that our Government would benefit from the 20% vat on the purchase, the movement of goods on the High Street and the import duty from the importer so not all is lost to China.

 

Something needs to be done and I did like the idea of what I heard. Terry Duddy seems in touch to me, and I like his tax cut proposal.

[henry d]

Good idea, except for me and mine. I have cleared all my debts, bar my last mortgage payment, and only have a credit card which is cleared each month....... what can I get to spend it on ?

[Paddy Galore!]

Good idea, except for me and mine. I have cleared all my debts, bar my last mortgage payment, and only have a credit card which is cleared each month....... what can I get to spend it on ?

stuff!

failing that, Hookers and booze...

Edited October 10, 2011 by GRAM71

[-Mongrel-]

Good idea, except for me and mine. I have cleared all my debts, bar my last mortgage payment, and only have a credit card which is cleared each month....... what can I get to spend it on ?

 

 

Behave! If somebody gave you four grand that you had to spend, you couldn't 'waste' it on something? Nothing? Another gun or three, new kitchen? A better car? Easily spent IMO.

Edited October 10, 2011 by -Mongrel-

[Jim Sarakun]

it was mentioned on question time last thursday night, which was held in liverpool if i remember right. sounds like a good idea if the money was really there.

 

I checked out BBC iPlayer and you were spot on. The radio show I heard was obviously inspired by that episode. The perpetrator of the 4 grand to the people was none other than our very own BILLY BRAGG..

 

Unlike you henry d, I could put 4 grand into the economy quite quickly.

[henry d]

........Unlike you henry d, I could put 4 grand into the economy quite quickly.

 

I could put it into the economy too, but I probably wouldn`t put it into this countries economy, I`ve spent 50 yrs doing that and it doesn`t appear to be working - full stop.

[Willxx]

don't know about "giving" 4k to every family as eventually taxpayers would always have to pay for it but I've made the suggestion before that offering govt supported low cost loans to tax payers to help clear household debts (as our beloved leader wishes) would be a reasonable idea.

[pimpkiller]

The whole thing does my head in and i dont beleive a thing the government says. They keep making out its our fault that we have borrowed too much money but i dont know a single person who is in debt at all. The whole thing is just robbing the sensible honest tax payer. If for example house prices were at a sensible level i would be out there getting a mortgage, but the housing market has got so greedy first time buyers have had it.

[ack-ack]

Most of mine would end up in Faversham and Shepherd Neame

 

 

 

Good man, keep it in Kent!

[four-wheel-drive]

what happened the last time with Q E the government gives money to the banks to buy back government bonds so the banks get a load of cash plus the fees that they charge the government to buy and sell the bonds.

 

The banks then have a lot of money on there hands which they use to gamble on the commodities market thus pushing up the price of oil food in fact everything the only people to benefit are the banks surprise surprise.

 

It may take time but they should spend the money building new houses and other things that we need that will also get British worker back to work simple.

 

The situation will never improve as long as the banks are run buy a load of crooks and conmen the problem is the people advising the government what to do are the same people who are robbing us of all of the money so as the saying goes we are all doomed

[DSPUK]

There are people who borrow too much money - I couldn't believe what I read - One person bought a house for something like 97K and had a mortgage for 120k - now house is worth a lot less and they are stuffed -- I don't know if it's me but when I bought my last house I put every penny I had down on a deposit and got smallest mortgage - but I never ever did have a new kitchen - automatic washing machine etc but at least most of my money paid of loan not grossely lined some bankers pocket.

 

Like Henry I don't owe anything and couldn't think at moment what I would spend it on - it's just not enough for anything nice and I certainly woudn't pee it up wall.

 

One suggestion I would have was it woud only be paid to tax payers.- So that has doubled my money. perferably those on 20%

 

Dave

[sparky mick]

apparently this has been done in australia, everyone given 2k but must be spent australian to boost economy.

[Yellow Bear]

I checked out BBC iPlayer and you were spot on. The radio show I heard was obviously inspired by that episode. The perpetrator of the 4 grand to the people was none other than our very own BILLY BRAGG..

 

Unlike you henry d, I could put 4 grand into the economy quite quickly.

 

Ah yes - red Billy - it was his lot putting money into all sorts of things that got us in this poo - all with talk of being "PRUDENT"

 

Stop talking rubbish Jim or have the scouse reds got to you?

[Jim Sarakun]

Ah yes - red Billy - it was his lot putting money into all sorts of things that got us in this poo - all with talk of being "PRUDENT"

 

Stop talking rubbish Jim or have the scouse reds got to you?

 

Talking rubbish? What are you on about?

 

All I have done so far is express that the idea of giving the money to the Banks, has not worked, and that giving it to the people has not been tried and may be a better idea.

 

Talking rubbish? Give me a chance.

[Yellow Bear]

Talking rubbish? What are you on about?

 

All I have done so far is express that the idea of giving the money to the Banks, has not worked, and that giving it to the people has not been tried and may be a better idea.

 

Talking rubbish? Give me a chance.

 

Pray what were teflon Tony and PRUDENT Brown doing for 15 years - they were definitely weren't giving it to the banks. No they were handing it out to there Pals - I,ll leave it up to you who those were.

 

Now I will let this lie!!!

[Guest topshot_2k]

Cutting aid to africa would be more beneficial imo. should be getting our house in order before bailing other countries.

VAT needs to be cut and fuel/energy costs are crippling business and households, with another colder than average winter predicted this should be getting dealt with now

[vole]

I agree with Jim and the economist on Radio 4 the other day ; it is mostly going to sit on the balance sheets of the banks it is handed to and the likes of us are not going to even get a sniff of it , despite it being ours . Take comfort from the fact that some people are going to have a very happy Christmas indeed courtesy of us lot.

[keg]

Lets not forget that Gormless Gordon also raided the private pension pots so that most private pension funds have a deficit, some private pensions are worth 30% less than ten years ago so when i hear teh public sector unions bleat, i say welcome to the real world.

 

Cameron did actually ( for once ) make a sane statement last week:-

 

Growing the public sector will not grow the economy, growing business will.

 

Brown & Blair robbed the private sector to grow the public sector to win votes.

 

Labour cock it, the Tories mop it... Thus is was and shall be ever more and never the twain shall meet excpet that New communism did not repeal any tory policies in reality. So they were new Tory really, thats why the real tories could not get back in.

 

Rant over

[Raja Clavata]

Cutting aid to africa would be more beneficial imo. should be getting our house in order before bailing other countries.

VAT needs to be cut and fuel/energy costs are crippling business and households, with another colder than average winter predicted this should be getting dealt with now

 

Apparently we are going to cut aid to African countries who discriminate against homosexuals. That should get a few on here going. It'll do naff all to help us though.

 

I don't know what the solution is but have always held dear the adage that if you keep doing the same thing then you'll get the same outcome, so putting the money into the banks clearly is not the answer.

[AVB]

what happened the last time with Q E the government gives money to the banks to buy back government bonds so the banks get a load of cash plus the fees that they charge the government to buy and sell the bonds.

 

The banks then have a lot of money on there hands which they use to gamble on the commodities market thus pushing up the price of oil food in fact everything the only people to benefit are the banks surprise surprise.

 

It may take time but they should spend the money building new houses and other things that we need that will also get British worker back to work simple.

 

The situation will never improve as long as the banks are run buy a load of crooks and conmen the problem is the people advising the government what to do are the same people who are robbing us of all of the money so as the saying goes we are all doomed

 

Boy you do spout some rubbish. Please explain the lifecycle of QE so we can all benefit from your wisdom.

[krugerandsmith]

Last week whist going about my business, I was listening to a local radio station, somewhere near Liverpool. The discussion that was taking place, I found VERY interesting. On my return home I tried to find the radio station that aired it, then surfed the tabloid web sites for anything further, all to no avail.

 

I was probably not using the correct key words and even tried on PW, but again a dead end. Follow this link. "Clicky" . You only need read the headlines, or follow the links should you wish, all good reading, well, it is the Sun, the only web site that I could find with content anything remotely like the radio station I was listening to.

 

What they were talking about is as follows; As we all know, the tax payer is forever being shafted. The country is in the toilet, as is the rest of the World, we need to get out of Europe and bring manufacturing and employment back to this country etc, etc. The main crux of the show, was about how the Banks have failed, are NOT lending like they should be, and we, sorry, our Government, keep throwing good money after bad and bailing them out, again and again, and soon, AGAIN, with tax payers money.

 

£76 billion was bandied around for the next recovery injection, so don't expect to heat your swimming pool THIS winter, because as usual, it is tax payers money.

 

Now this guy on the show, who's name escapes me, was saying that this money will be held by the Banks, wasted in some obscure way, used to pay bonus's, blahdeeblah and disappear like the cash used in the other bail outs.

 

HOW TRUE.

 

His suggestion, which caused an uproar, but I loved it, was NOT to give it to the Banks as they can no longer be trusted, but distribute it amongst taxpayers, which would give every WORKING family about 4 grand. It would be given in vouchers, to be spent in the High Street, to pay off bills and debt's, of which I am sure that all of us normal folk have, and would love to see the back of. The money had to be SPENT, and could NOT be saved by those in receipt. This he suggested, would ensure that the money was being circulated and not hidden in a vault. For how long this fix would last is anybody's guess, though he stated, and I liked this bit, it would put some faith back into the working people who have been run over roughshod by successive Governments.

 

What a fantastic idea!

 

What do PW members think?

 

Did any other members hear this show, or has this kind of fix been reported anywhere else, as I probably can not see for looking.

 

Jim.

Probably ...Radio Merseyside ....Roger Phillips program 11.30am to 1400hrs pm daily... You can tune in over the internet and if you so wish play back passed programs.