Two Hundred Billion Pounds...
That's a pretty big hole to fill. I kinda get the feeling that the banking industry is F**ked now... I knew the banking industry was set to fail because, well, we made the mistake for thinking poor people had money.
What are going to do now??? 
Go way over budget to fix it followed by Quantitive easing?
The IMF's report seemed pretty bleak. Something like costing 13.4% GDP?
I'm sure it'll be fine though.
I'm thinking more long run, the finance sector was a major driver of our economy. I don't think that will be the case any more, or, at least, it won't be as big.
I believe that the UK is the second largest exporter of financial services in the world, will we still have that title after all this?
| SamuelRSmith said: I'm thinking more long run, the finance sector was a major driver of our economy. I don't think that will be the case any more, or, at least, it won't be as big. I believe that the UK is the second largest exporter of financial services in the world, will we still have that title after all this? |
Who will step in to take it away?
International lending is EXTREMELY risky.
Profitable as all get out... but can topple a country if you dabble in it too much.
| highwaystar101 said: Two Hundred Billion Pounds... That's a pretty big hole to fill. I kinda get the feeling that the banking industry is F**ked now... I knew the banking industry was set to fail because, well, we made the mistake for thinking poor people had money. What are going to do now??? |
What, they still don't go to debtor's prison? There's nothing like the threat of prison time to motivate people to pay back a loan, or to not borrow money in the first place.
Yet, today, America's leaders are reenacting every folly that brought these great powers [Russia, Germany, and Japan] to ruin -- from arrogance and hubris, to assertions of global hegemony, to imperial overstretch, to trumpeting new 'crusades,' to handing out war guarantees to regions and countries where Americans have never fought before. We are piling up the kind of commitments that produced the greatest disasters of the twentieth century.
— Pat Buchanan – A Republic, Not an Empire
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