Quote:
Originally Posted by Chrysalis
yeah I would pay it.
Its hardly going to bankrupt me.
NI and income tax that is.
The entire 11% wouldnt be lost, thats a figure buffed up.
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You may not like the system and without doubt if looked at. warts and all it does leave a lot to be desired.
The fact remains that it is the global method of operating within the global financial system and until and if another system is created, a country is either a player or potentially relegating themselves towards third world status.
The problem is that the workings of micro and macro finance is multi faceted and to look at one element in isolation to the whole is a distortion which can lead to simplistic answers but with complicated unintended consequences.
Our high street banks tried to elevate themselves from already, in some instances, major global players to mega players and made mistakes for which we will all have to pay. A simplistic answer would be to bring back the restrictions of Glass-Steagall which may or may not happen but cannot happen until the complexity of cross banking debt is resolved. Progressively they have to have their balance sheets rebuilt so that at some point a separation between retail and speculative banking would be possible but not whilst the retail sector is still entwined. It might take years or decades but we have to grim and bear it or we could all go down with the banks.
As for the news articles and the film. It is so easy to point out what is wrong, what went wrong and how but what does that achieve beyond causing angst among those innocently affected. The solutions may be long, complicated and painful but within a global system that is dependent on initiatives from the source it is pointless having the public getting all hot under the collar about something they cannot comprehend and potentially demanding unilateral decisions. Luddite like demands from those who do not understand serves no purpose and whether they like it or not we live in a globalised world from which an opt out is not really an option.