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Update: It has been revealed the UK's citizens face at least a decade of pain to pay off the debts from the banking bailout, according to a treasury minister. Lord Myners spoke candidly about how bad the situation is. And it contradicts what the prime minister Gordon Brown has said, when he called the banking bailout a temporary measure.

More disturbingly, Mervyn King, the head of the Bank of England, has spoken of the need for rule-breaking solutions to cope with the scale of economic damage done by the ten-year debt bubble.


The scale of damage to UK banking has some believing by year's end, the UK will only have two UK-quoted bank shares: HSBC and Standard Chartered. An article in the country's Independent newspaper has reported that all the country's banks are now insolvent: http://www.independent.co.uk/news/busin ... 18229.html


What is unknown at this point is how much Britain's young workers are willing to pay the price for this bailout, facing the prospect of earning a very weak pound, huge taxes and low salaries and benefits, until the overhang of debt is worked off.


The UK government announced a 'blank cheque' bailout of the country's banks yesterday, after its £37 billion bailout in October 2008 had failed to make the banks solvent and start lending again.


The currency then dropped to its lowest point in five years against the US dollar (it has hit a seven year low in trading today). A credit rating agency is considering downgrading the UK because its debts are soaring so quickly. If this happens, it will mean the government will struggle to pay interest payments and convince global markets to buy UK debt.

Jim Rogers, the co-founder of Quantum fund with George Soros, today told Bloomberg News that “I would urge you to sell any sterling you might have. It's finished. I hate to say it, but I would not put any money in the UK.”

The UK's citizens are currently the most indebted per person in human history, even outstripping Americans. The size of the debts are so large, the government is considering printing money to help hyperinflate away the country's debts, using something called 'quantitative easing'. The Bank of England was given permission yesterday to do this.

http://www.nowpublic.com/world/britain- ... bankruptcy

Been there before and will no doubt be there again,but and its a big but we always bounce back

I'm not surprised. After Mrs. Thatcher totally deinstalled national industry and shifted economy mostly to the financial sector I don't know what so many people could do there...

Only banks need those people to lend them some money.

Red Chief wrote:Only banks need those people to lend them some money.

you mean banks such as barclays need ppl from the Middle East

a bit ironic init. you get so many anti-islam ppl from the west and yet you will find some muslim guy helping their banks out ..

rudeboy wrote:

Red Chief wrote:Only banks need those people to lend them some money.

you mean banks such as barclays need ppl from the Middle East

a bit ironic init. you get so many anti-islam ppl from the west and yet you will find some muslim guy helping their banks out ..

Sorry, I made a gramatical mistake. It was in past tense but not now.

Anyway any British man can teach English in a remoted area of our World...

Red Chief wrote:

rudeboy wrote:

Red Chief wrote:Only banks need those people to lend them some money.

you mean banks such as barclays need ppl from the Middle East

a bit ironic init. you get so many anti-islam ppl from the west and yet you will find some muslim guy helping their banks out ..

Sorry, I made a gramatical mistake. It was in past tense but not now.

Anyway any British man can teach English in a remoted area of our World...

true british ppl always good at teaching but never good at learning a few things themselves i guess thats why the great empire is just a small island.

LOOOOOOOOOOOOOOOOOOOOOOOOL

rudeboy wrote:true british ppl always good at teaching but never good at learning a few things themselves i guess thats why the great empire is just a small island.

I think contrary. It's because British people think about their country as the Great Empire but really it's a small island and they need to do something for a living...

don't worry UAE homes will always wellcome them as cooks , butler is it in english ?

Red Chief wrote:

rudeboy wrote:true british ppl always good at teaching but never good at learning a few things themselves i guess thats why the great empire is just a small island.

I think contrary. It's because British people think about their country as the Great Empire but really it's a small island and they need to do something for a living...

the only thing they do for living is called complaining. always complaining about this and that. no wonder the empire is a small island . if they hadnt complained and been on everyones good books they would have taken over the world. i guess they simply dont learn from the history .

Oi! Stop the Brit bashing! Remember the 'small' island conquered half the known world in it's hayday!

And yes, we've been there before and will bounce back again.

rudeboy wrote:british ppl always good at teaching but never good at learning

Although I was born and brought up in London, that's a very valid point!

Chocoholic wrote:Oi! Stop the Brit bashing! Remember the 'small' island conquered half the known world in it's hayday!

And yes, we've been there before and will bounce back again.

lol bounce back again. you got to be JOKING. England is nothing what it used to be. Even the Aussies aint scared of you any more whats more we all know brits are puppets of USA. so welcome to the party

lol bounce back again. i rather support the idea of soviets bouncing back instead of the brits.

90% of the british ISLE is OWNED by non-brits including pakis, indians, jamaicans (lol), west indies, bengalis (funny that, i guess bengaliboy owns a bit of england ), nigerians, scots, welsh, irish etc the list goes on. so where are the brits??

Instead of saying where is Vally, they should release a comic, wondering where are the brits. or spot the brits

i wouldnt be suprised if the brits go to africa next and start their new empire. hmmm maybe Madagascar

Chocoholic wrote:Oi! Stop the Brit bashing! Remember the 'small' island conquered half the known world in it's hayday!

And yes, we've been there before and will bounce back again.

According to the last speech of British head of Navy you will not even able to arrange the voyage to Folkland isles any more due to permanent underfunding...

Red Chief wrote:

Chocoholic wrote:Oi! Stop the Brit bashing! Remember the 'small' island conquered half the known world in it's hayday!

And yes, we've been there before and will bounce back again.

According to the last speech of British head of Navy you will not even able to arrange the voyage to Folkland isles any more due to permanent underfunding...

Folkland island is that still under british rule??? whats up with brits and islands :S

Chocoholic wrote:Oi! Stop the Brit bashing! Remember the 'small' island conquered half the known world in it's hayday!

And yes, we've been there before and will bounce back again.

LOL every brits seems to be saying that now a days, what is it ? a new line in the UK national anthem been added after the country went bankrupt LOOOOL

it's a nice line for cheerleading

Yes, they are probaly the only oversees dominion... It had been the biggest achivement of Mrs. Thatcher...

uaekid wrote:

Chocoholic wrote:Oi! Stop the Brit bashing! Remember the 'small' island conquered half the known world in it's hayday!

And yes, we've been there before and will bounce back again.

LOL every brits seems to be saying that now a days, what is it ? a new line in the UK national anthem been added after the country went bankrupt LOOOOL

it's a nice line for cheerleading

they should add that line to the We will rock you song.

so it will be something like this We will rock you and we have been there before and will bounce back again and we will rock you again too

And....? It proves that we can survive such situations. Unlike people here who're panicking and running round like headless chickens.

Chocoholic wrote:And....? It proves that we can survive such situations. Unlike people here who're panicking and running round like headless chickens.

The Empire Strikes Back.

we built the greatest empire the world has ever seen!
Everybody loves to hate us but secretly they want to be us!!

why did we ever give this place back to these people?

smoggie wrote:we built the greatest empire the world has ever seen!
Everybody loves to hate us but secretly they want to be us!!

why did we ever give this place back to these people?

The Return of the Jedi

smoggie wrote:we built the greatest empire the world has ever seen!
Everybody loves to hate us but secretly they want to be us!!

why did we ever give this place back to these people?

its probably cos you couldnt look after your own island and it all started with the fact the indians gave you a good as* kicking. i mean out of all the races the brits had to get their as*es kicked by the indians :S

smoggie wrote:we built the greatest empire the world has ever seen!
Everybody loves to hate us but secretly they want to be us!!

why did we ever give this place back to these people?

bla bla bla no one needs a history lesson, get lost.
beside we will make you dress like French maids and make you swap the floors for us, you glory days are over


your country is so broke they will have to print new moneys
LOOOOOL what a joke and you are worried about Dubai projects being canceled LOOOOOL.

Our history is long and varied. At least we have a history!

Chocoholic wrote:Our history is long and varied. At least we have a history!

At least and last...

I just wonder that GB has one of the best technical education in the World. How could it happen without any application in the own industry? Is it the same thing as the Great Empire that's mostly history now?

uaekid wrote:

smoggie wrote:we built the greatest empire the world has ever seen!
Everybody loves to hate us but secretly they want to be us!!

why did we ever give this place back to these people?

bla bla bla no one needs a history lesson, get lost.
beside we will make you dress like French maids and make you swap the floors for us, you glory days are over


your country is so broke they will have to print new moneys
LOOOOOL what a joke and you are worried about Dubai projects being canceled LOOOOOL.

I would even rather dress like a frog eater than wear a dress like you mofo's LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL!

Chocoholic wrote:Our history is long and varied. At least we have a history!

yeh i know the history pretty well. terroism started with Guy Folks trying to blow up the Parliament house. and to celebrate his achievement the brits have a jolly good old fireworks show

History is History, its gone vanished. its yesterday. what do you have today???

rudeboy wrote:

Chocoholic wrote:Our history is long and varied. At least we have a history!

yeh i know the history pretty well. terroism started with Guy Folks trying to blow up the Parliament house. and to celebrate his achievement the brits have a jolly good old fireworks show

History is History, its gone vanished. its yesterday. what do you have today???

what on earth do you mean dear boy? "What do you have today?"
We are the English! We are by far the greatest nation on eart. superior in all ways! That is why we are universally admired and loved.....anybody resisting will be bludgeoned to the ground with a blunt object.

smoggie wrote:

rudeboy wrote:

Chocoholic wrote:Our history is long and varied. At least we have a history!

yeh i know the history pretty well. terroism started with Guy Folks trying to blow up the Parliament house. and to celebrate his achievement the brits have a jolly good old fireworks show

History is History, its gone vanished. its yesterday. what do you have today???

what on earth do you mean dear boy? "What do you have today?"
We are the English! We are by far the greatest nation on eart. superior in all ways! That is why we are universally admired and loved.....anybody resisting will be bludgeoned to the ground with a blunt object.

sorry Return of the Jedi i dont want to upset you but you are a PUPPPPPPPPPPPPPPPPPPET nothing but a PUPPPPPPPPPEEEEET