Quote:
Originally Posted by tweetiepooh
Don't borrow on anything that doesn't (normally) appreciate. Good for personal as well as national finances. The difference is you can choose not to get that new ?? and make do but nationally you are choosing for others.
The problem is the holes are nearly all "infinite". No matter how much you spend, someone will miss out. Projects nearly all over run or cost too much, usually because they aren't managed well and there are too many fingers in the pie looking out for their own interests.
When it comes down to it, our leaders have forgotten that they are really our servants.
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Not true. Investment, underwritten by borrowing, invariably applies to "assets" that do not "appreciate" as you put it. Investing to improve the NHS, for example, does not lead to an appreciating asset in the way you have alluded to.
The mistake is to transpose maxims applying to personal finance to the national macro-economic stage ..
---------- Post added at 18:10 ---------- Previous post was at 18:08 ----------
Quote:
Originally Posted by Sephiroth
Ah - yes.
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They have not forgotten. They know *exactly* who they are responsible to ... and it is not the vast majority of people in this country.