Current Affairs and Politics

London 2012

View Poll Results: Will the United Kingdom go bankrupt?
Before London 2012 (Games Will Not Be Held) 3 11.54%
Before London 2012 (Games Will Be Held) 4 15.38%
After London 2012 (Games Will Be Held) 3 11.54%
Not At All (Games Will Be Held) 16 61.54%
Voters: 26. You may not vote on this poll

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sydney3000 +

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London 2012
Will the United Kingdom go bankrupt?
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I was working on the Olympic park design in 2007/08 and the budget was around 6 billion. No doubt it will blow out.

I don't think the UK will go bankrupt over it though?
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Not over that, the UK looks like it's going Bankrupt irrespective of the Olympics
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Unlikely that they'll go bankrupt completely.

They're in bad shape, but even if they have to hyper-inflate they won't ever say they are bankrupt.

They'll massively cut spending, they'll have pretty much no other choice in a while.
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Well, it's London, rather than the UK which is hosting the Olympics no?

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Quote:

Originally Posted by Fangoriously

Unlikely that they'll go bankrupt completely.

They're in bad shape, but even if they have to hyper-inflate they won't ever say they are bankrupt.

They'll massively cut spending, they'll have pretty much no other choice in a while.

The big problem is that the government has guaranteed bank liabilities. RBS alone has liabilities of 1.8 trillion quid against assets of only 1.9 trillion which is 3 times total government spending! If RBS assets fall in value dramatically, the UK having guaranteed them (and every other bank) against going down are in serious trouble.
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Sssssh. I like denial. And the house to sell for a decent price.

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No the UK wont go bankrupt.

Yes government debt is high.

Yes spending cuts will be deep and hurt a lot of people, but essentially its all about perceived action, rather than any finite state of affairs. if the government sells itself to the markets, by showing a sort of half decent plan to reduce the deficit, in may ways the actual value of the deficit at any given time is not important.

At the moment though, the government is not convincing anyone it has a a proper plan to cut the deficit, so markets are wary

The problem is government spending has clearly helped. unemployment has stabilised a lot quicker than all estimates. sure consumer spending and market demand is still at an all time low, but with jobs peoples confidence will grow.

However, as soon as the government pulls away from its spending, the entire economy MAY recede back into recession, or at least experience a couple of years of zero growth, which in itself will batter government revenue.

So, do they cut now, and show strong future commitment, with the caveat that it MAY cripple the economy and overall reduce government revenue, which will nullify any cuts

OR keep spending, in a hope that the economy will grow to a independently healthy state, and then have to make extremely large cuts to the public sector.

that's the question that faces the UK, the Olympics is a fukn blip on the radar
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So the upshot is .... when I go home to the UK for Christmas (leave today) the whinge factor will be off the bloody scale

Hooray
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Why do I get the feeling that a lot of Australian would secretly like to see the UK fuck up their Olympics?

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^ geez it's like you read my mind

Although I doubt they will somehow. Stiff upper lip n all that.
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Greece is close to self-destruction. It paid a price for the Athens Olympics. What cost will London 2012 bring for the United Kingdom or will the British pull the plug in time?
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London will break even, give or take a few million
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http://www.canada.com/theprovince/ne...c-257f04a46ac6

The approach of London 2012 is like watching a train wreck happen. The British might end up having to sell some of their islands to fund the event. How much can you get for Northern Ireland?
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Free to pickup, as is, where is?
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Have to apologise to the Pope for the condition that it's in, IMO.
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Quote:

Originally Posted by N4TE

Free to pickup, as is, where is?

Sure the Republic of Ireland will gladly relieve them of it.

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not liking yoda is like knocking back a root when presented nude in a YD change room

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^mmmm all this talk of meat is getting me excited.

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What impact will the UK emergency budget on June 22, 2010 have on London 2012?
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I wouldn't thought there would be too much of an impact

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http://www.london2012.com/making-it-...ames/index.php

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Originally Posted by gotamangina View Post

I hate it when you're right and I'm not.

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Quote:

Originally Posted by sydney3000

What impact will the UK emergency budget on June 22, 2010 have on London 2012?

Give up dude, they'll hold their olympics, it will succeed, and personally I hope the chairman of the IOC calls it the best games ever, just to piss off those petty minded Sydney people who've wished failure on every olympics since 2000.
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I cant believe they've kept the 'Lisa Simpson giving a headjob' logo



EDIT:

It's almost as bad as Arlington Pediatric Centre

Last edited by phoneyhuh: 03-Jun-10 at 11:57am

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More importantly, will pedobear be a mascot?
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why is the poll closed? i want to vote.
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At least some are pondering the idea of cancelling London 2012.

Quote:

We are not sure cancelling the Games is at all feasible but...

http://www.guardian.co.uk/business/2...here-cuts-fall
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Quote:

Originally Posted by SpaceMonkey View Post

Sure the Republic of Ireland will gladly relieve them of it.

no chance. It's an abortion of a country thanks to the loyalists. Ireland couldn't afford it if it were given to her free of charge.


Don't we hear this sky is falling argument every olympics but they always go well?
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Quote:

Originally Posted by Balls Deep View Post

no chance. It's an abortion of a country thanks to the loyalists. Ireland couldn't afford it if it were given to her free of charge.


Don't we hear this sky is falling argument every olympics but they always go well?

It sure worked wonders for Greece.

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Its easy to jump to that conclusion as the only thing you heard in the news about greece was the olympics.

Greece had a lot more problems to begin with. But I'm sure it will be propped up by all these anti olympic campaigners as the poster-child for the countires financial problems
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A more suitable poll question might have been: "Will the United Kingdom burn to the ground?"
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"The British Government has run out of money because all the money was spent in the good years," the Chancellor said.

http://www.telegraph.co.uk/news/poli...-of-money.html
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Not At All (Games Will Be Held) fo sho
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Quote:

Originally Posted by iamcorky View Post

Not At All (Games Will Be Held) fo sho

Please note that Sydney3000's predilection to linking any sort of malaise with the end of the London Olympics is just some sort of obsessive compulsive syndrome, it doesn't mean anything.
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Horst gets it. It doesn't mean anything. The rules of civilisation are meaningless.

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Bankrupt during the games, after they get all the tourists into London (then ground all flights) muhaha
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Quote:

Originally Posted by Gozza1279 View Post

Bankrupt during the games, after they get all the tourists into London (then ground all flights) muhaha

pfft thats not a problem. if you want to gtfo of england there are more transport choices than just about anywhere else in the entire world. you can easily drive to europe, catch a train, take a ferry, row a boat, paddle a canoe, use a jetpack or cycle powered flying vehicle. You can even swim if you're dedicated enough
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"London 2012: Missiles"

http://www.bbc.co.uk/news/uk-17884897
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And?
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"How will everyone feel when reality bites? When the final bill, expected to be more than $16 billion, comes in."

http://www.smh.com.au/olympics/news-...813-2450u.html
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