chem1st Posted September 21, 2011 Share Posted September 21, 2011 How often DON'T we run a deficit??? And does it really matter if it is FIAT? Link to comment Share on other sites More sharing options...
Mecky Posted September 22, 2011 Share Posted September 22, 2011 So the economy can only function with deficit spending and stimulus? Back in the days when Britain was an economic powerhouse, there was practically no public sector and no government stimulus. How ever did we manage? I think we did something crazy like... make things. Oh but you say, the Far East makes things too cheaply. Tell that to the Germans. Germany this year will be the second largest exporter So it can be done. You see, in the 50s/60s/70s, while the British worker was on strike/on tea break/turning out shoddy products, the Germans were doing things properly. Stimulus won't work and just repeating it over and over again just demonstrates Einstein's definition of insanity. Austerity won't work either. The pseudo-cuts we've had under the coalition have seen record monthly deficits in April and August this year. Cuts? What cuts? We're borrowing more money than ever. The only option is a default. But that will be resisted to the end, so basically we're fooked. So if the debt is all paid off, what are we going to do with all the extra loot? Link to comment Share on other sites More sharing options...
HeadingNorth Posted September 22, 2011 Share Posted September 22, 2011 So if the debt is all paid off, what are we going to do with all the extra loot? Cut taxes, increase spending, or both. Not that I believe for one moment that we could wipe out our national debts, but if only... Link to comment Share on other sites More sharing options...
Mecky Posted September 22, 2011 Share Posted September 22, 2011 Cut taxes, increase spending, or both. Not that I believe for one moment that we could wipe out our national debts, but if only... You mean increase spending to where we were in the first place? Link to comment Share on other sites More sharing options...
HeadingNorth Posted September 22, 2011 Share Posted September 22, 2011 You mean increase spending to where we were in the first place? We'd never have to, since debt repayment and interest would no longer be part of the budget. Link to comment Share on other sites More sharing options...
Mecky Posted September 22, 2011 Share Posted September 22, 2011 We'd never have to, since debt repayment and interest would no longer be part of the budget. The reason I ask is that we're told we have to make cuts, which were manageable anyway, but nobody has said what's going to happen when we're in the red. The must be scared of putting their ass on the line. Link to comment Share on other sites More sharing options...
I1L2T3 Posted September 22, 2011 Share Posted September 22, 2011 We'd never have to, since debt repayment and interest would no longer be part of the budget. there are no plans to ever pay off the national debt completely. Link to comment Share on other sites More sharing options...
ElasticMan Posted September 22, 2011 Share Posted September 22, 2011 Britain borrowed 16b in august! and yet nick clegg is giving £335m away, and thats on top of the £12b the goverment as put in the aide pot. I wander where he's pulled that from? The news is on right now and mr clegg says the HR is here to stay. so that means we cant deport the murderers,rapists,thieves etc. a nigerian who raped a 13year old has gone through the HR etc. and appealed to Stasburg who say he cant be deported overruling our courts. So you saw the news and decided to try and re-write it in the style of someone who didn't understand it? Link to comment Share on other sites More sharing options...
xenia Posted September 22, 2011 Share Posted September 22, 2011 Brilliant concise arguement, almost as good as Cameron is a plonker. :hihi: take your head out of the sand Link to comment Share on other sites More sharing options...
Mikes10 Posted September 22, 2011 Share Posted September 22, 2011 If the UK is in debt and all of Europe is in debt and all of the USA is in debt who holds all the credit notes, and why don't we all just default (ie not pay)? Link to comment Share on other sites More sharing options...
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