spooky3 Posted December 11, 2011 Share Posted December 11, 2011 Should we all start running up debts now then? Link to comment Share on other sites More sharing options...
Mecky Posted December 11, 2011 Share Posted December 11, 2011 Ah yes, the principle of dragging clever and successful people down to the level of your own miserable existence. Which one benefits the gene pool, them or you? As opposed to ripping off the poor you mean? What are you talking about anyway, are you on drugs? Link to comment Share on other sites More sharing options...
spooky3 Posted December 11, 2011 Share Posted December 11, 2011 As opposed to ripping off the poor you mean? What are you talking about anyway, are you on drugs? I would have thought the investment would be relative. Link to comment Share on other sites More sharing options...
I1L2T3 Posted December 11, 2011 Share Posted December 11, 2011 Should we all start running up debts now then? No. They'll track most individuals down and make them pay. Link to comment Share on other sites More sharing options...
retrogo Posted December 11, 2011 Share Posted December 11, 2011 Maybe society moving forward needs to rely less on credit. its mad when the lenders are lending the lendors, who lend the lendors who lend to the general public. Its all hyperfectical money that no one creditor actually has possession of or has even collected in. It's obvious there is a floor in the idea of accessive credit. Link to comment Share on other sites More sharing options...
Minimo Posted December 11, 2011 Share Posted December 11, 2011 Didn't Iceland (the country not the shop) go bankrupt a couple of years ago? What is happening there now, I wonder. Link to comment Share on other sites More sharing options...
andyofborg Posted December 11, 2011 Share Posted December 11, 2011 Didn't Iceland (the country not the shop) go bankrupt a couple of years ago? What is happening there now, I wonder. the volcano's are erupting....... but they seem to be climbing out of their problems, however the scale of europe's debts are far far larger than iceland's were. Link to comment Share on other sites More sharing options...
Bobgok23 Posted December 12, 2011 Share Posted December 12, 2011 England should just go bankrupt and have their debts written off, then start again. People who work would still get paid anyhow. It would only be rich people who suffer which sounds good to me. Why don't we just take all the money off the top 1% that would pay off everything and leave us with a surplus? We won't because we as a people are stupid sheep. Link to comment Share on other sites More sharing options...
truman Posted December 12, 2011 Share Posted December 12, 2011 To be totally honest, I have little idea what would happen if the UK went bust. Part of my motivation in starting this thread was to find out just what would happen in such an eventuality. I would assume that everyone would lose their savings, but is this not why many people have invested in gold? Are they not guarding against such an eventuality? I wonder if anyone really knows the full implications. Gold is an asset..when you go bankrupt you lose all your assets...the gold would go.. Link to comment Share on other sites More sharing options...
Vague_Boy Posted December 12, 2011 Share Posted December 12, 2011 Ah yes, the principle of dragging clever and successful people down to the level of your own miserable existence. I'm sort of successful and vaguely clever (well, at least I think so, opinion elsewhere may be divided ) but I agree with the OP. It's the only way out. If, according to this op ed piece on the BBC website Greece should default and abandon the Euro Then surely the UK, which is more in debt than Greece UK budget deficit 'to surpass Greece's as worst in EU' Guess Which Country Has Debt Of Nearly 1000% Of GDP... Compared to Greece's at a mere 182.2%. should also default? Our only realistic option is to default and to do it first, before the other indebted nations get in on the act. Austerity (if it can indeed so be called) won't work. Borrowing and spending our way to false "prosperity" won't work. Hey, I made it through a whole post on debt without mentioning Gordon "spend, spend, spend" Brown. (Oh damn!) Link to comment Share on other sites More sharing options...
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