Quote:
Originally Posted by Rob
The issue is fast becoming not what would have happened if RBS (and other banks too) were bankrupted (effectively they were), but what happens when the UK itself is bankrupted because it is not buying these "banks" and other assets at liquidation stokc levels. Quite simply how much longer can UK keep going down a route which is unsustainable?
We fast have a situation because of the banking crisis throw everything at it, that instead of being one of the world's financial leaders, doling out financial aid, we need to receive financial aid  |
This is exactly right - the UK is headed towards an IMF dependency which will put it on a par with some III world countries. QE is solving nothing, VAT is about to go up to 20% and the Government are still in denial.