Discussion in 'Economics' started by bearice, May 15, 2010.
World has no money?
I'll bet two to one that the central bank printing presses would disagree.
I'll take that bet! Oh wait...I dont have any money. Hey! And neither do you!
U.K. Has 'No Money Left,' Treasury Minister Learns From Predecessor's Note
May 17 (Bloomberg) -- Arriving for work at the U.K. Treasury last week, the incoming chief secretary, David Laws, found a note from his predecessor, Liam Byrne, offering advice on the job.
According to Laws, it read: âDear Chief Secretary, Iâm afraid to tell you thereâs no money left.â
âWhich was honest,â Laws, whose position is the No. 2 in the Treasury after the chancellor of the exchequer, told a press conference in London today. âBut slightly less than I was expecting.â
The note underscores the task facing Britainâs coalition government as it seeks to reconcile demand for improved health and education services with promises to reduce the largest budget deficit since World War II.
It was also in the tradition of Reginald Maudling, Conservative chancellor of the exchequer from 1962 to 1964. Leaving his residence after election defeat, he was reported by James Callaghan, his successor, to have remarked, âSorry, old cock, to leave it in this shape.â
Byrne didnât respond to requests for comment.
Ignorant and stupid statement. History is FULL of examples.. HUNDREDS of them. The fact that you made such a statement shows you are an uneducated DUMBASS who shouldn't be posting anything at all. Your future and that of your children is in great peril... and here you are, making flippant comments like you know something.
Just because governments "can" print fiat, doesn't mean they are healthy or have any money...
The Western economies/governments have "money-pumped" and "deficit-spent" themselves into near oblivion.
Done out of either greed, ignorance, or design...
It's kinda like we are about 2/3 through a big casino night. Right now the wheels of deceit are spinning fast and smooth. Too smooth. We're all having the time of our lives, but it seems like the cops are going to bust through the door at any second. Nobody wants to get left holding chips because the cops will confiscate them, but nobody wants to cash in because the tables and slot machines are all rigged in our favor and paying off like crazy. We all have one eye on the door, and one foot towards the window, as we sip our free drinks and keep spinning the wheel. Who knows? Maybe our casino host can pay off the cops for another generation so we can keep the party alive and pass the bill to somebody else.
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