Redcoats pay off their bar tab - Club CDFreaks

deadmeat24 · 23-12-2006

Quote:

The UK is about to pay off the last of its World War II loans from the US. But it hasn't always been so fastidious.

On 31 December, the UK will make a payment of about $83m (£45.5m) to the US and so discharge the last of its loans from World War II from its transatlantic ally.

It is hard from a modern viewpoint to appreciate the astronomical costs and economic damage caused by this conflict. In 1945, Britain badly needed money to pay for reconstruction and also to import food for a nation worn down after years of rationing.

"In a nutshell, everything we got from America in World War II was free," says economic historian Professor Mark Harrison, of Warwick University.

"The loan was really to help Britain through the consequences of post-war adjustment, rather than the war itself. This position was different from World War I, where money was lent for the war effort itself." Britain had spent a great deal of money at the beginning of the war, under the US cash-and-carry scheme, which saw straight payments for materiel. There was also trading of territory for equipment on terms that have attracted much criticism in the years since. By 1941, Britain was in a parlous financial state and Lend-Lease was eventually introduced.

The post-war loan was part-driven by the Americans' termination of the scheme. Under the programme, the US had effectively donated equipment for the war effort, but anything left over in Britain at the end of hostilities and still needed would have to be paid for.

But the price would please a bargain hunter - the US only wanted one-tenth of the production cost of the equipment and would lend the money to pay for it.
http://news.bbc.co.uk/2/hi/uk_news/magazine/4757181.stm

Probably should of told them to hold onto it for us. The way our government is spending we'll probably have to sleep on their couch in the near future.

*Airhead* · 23-12-2006

I don't get your point

deadmeat24 · 23-12-2006

Quote:

Originally Posted by Airhead

I don't get your point

The catchy title or my wish that they would hold onto the money until a government of fiscal responsibility returns to the US?

It is pretty significant news when a country pays off such a substantial debt.

*Airhead* · 25-12-2006

A debt is a debt to pay. Sweden owes various lenders 182 billion dollars.

Hyperspace · 26-12-2006

Quote:

Originally Posted by Airhead

Sweden owes various lenders 182 billion dollars.

It must be nice to only owe pocket change (182 billion).
_______________________________________________

My Country:
Total U.S. debt = $8.500 trillion (As of September 21, 2006)

http://en.wikipedia.org/wiki/United_States_public_debt

jamoskeag3 · 27-12-2006

Credit: Man's trust in man.

23-12-2006	#2 (permalink)
Airhead Letiled Modelatol Join Date: Feb 2002 Location: La Suède Posts: 6,940	Re: Redcoats pay off their bar tab I don't get your point __________________ This line is currently vacant. Or Is It??? You want fast answers? Use our search. <-- Or else! If you have not already, read our rules! <-- Or else again! bcn_246: "Wales are shitty animals to, all they do is swim around and make funny noises that people cant hear." You really should join us on IRC! IrcNet, #cdfreaks-int \| Or go here Fear my massive avatar history log! Not updated! "But do they keep increasing in size like mine?" - kwkard

25-12-2006	#4 (permalink)
Airhead Letiled Modelatol Join Date: Feb 2002 Location: La Suède Posts: 6,940	Re: Redcoats pay off their bar tab A debt is a debt to pay. Sweden owes various lenders 182 billion dollars. __________________ This line is currently vacant. Or Is It??? You want fast answers? Use our search. <-- Or else! If you have not already, read our rules! <-- Or else again! bcn_246: "Wales are shitty animals to, all they do is swim around and make funny noises that people cant hear." You really should join us on IRC! IrcNet, #cdfreaks-int \| Or go here Fear my massive avatar history log! Not updated! "But do they keep increasing in size like mine?" - kwkard

27-12-2006	#6 (permalink)
jamoskeag3 CD Freaks Die Hard Join Date: Jan 2006 Posts: 1,034	Re: Redcoats pay off their bar tab Credit: Man's trust in man.

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