Anna B Posted October 12, 2018 Share Posted October 12, 2018 And what do you think will cause this crash? Same, or similar to before probably. Lessons were not learned. https://www.lombardiletter.com/signs-u-s-economic-collapse/20533/ https://www.independent.co.uk/voices/10-year-anniversary-banking-crash-recession-where-will-next-one-come-from-a7886481.html https://www.telegraph.co.uk/business/2016/02/12/the-world-cant-afford-another-financial-crash--it-could-destroy/ https://www.spectator.co.uk/2017/07/the-next-financial-crisis-is-coming-with-a-vengeance-says-the-expert-but-when/ Link to comment Share on other sites More sharing options...
El Cid Posted October 13, 2018 Share Posted October 13, 2018 The National debt, now about 1.8 Trillion I believe, can never be paid off and never will be. The interest is increasing faster than we can pay it. The best we can hope for is that some of it will be written off (it won't be.) The USA has almost as much Government debt as it had during the second world war; I assume you know which country was a big player in the last crash! The UK has more public debt than the USA, 90.4% of GDP. Link to comment Share on other sites More sharing options...
ez8004 Posted October 13, 2018 Share Posted October 13, 2018 (edited) The National debt, now about 1.8 Trillion I believe, can never be paid off and never will be. The interest is increasing faster than we can pay it. The best we can hope for is that some of it will be written off (it won't be.) Since the banking crisis the whole banking system seems to have gone mad and is not aligned to reality. Fiat money abounds and its value seems to be whatever the bank says it is. There is more money around than ever before but people are becoming poorer. More and more money is in fewer and fewer hands. Another crash is in the offing apparently, and this time it will be even worse. That is not remotely how it works. Go do some research and then come back before spreading complete disinformation. The national debt doesn’t have to be paid back in full and our nation’s ability to service its debts has never been an issue. If it was then the U.K. credit rating would reflect this. Edited October 13, 2018 by ez8004 Link to comment Share on other sites More sharing options...
convert Posted October 13, 2018 Share Posted October 13, 2018 That is not remotely how it works. Go do some research and then come back before spreading complete disinformation. The national debt doesn’t have to be paid back in full and our nation’s ability to service its debts has never been an issue. If it was then the U.K. credit rating would reflect this. Agreed, the debt is not the important thing here, it's the deficit https://www.ukpublicspending.co.uk/uk_national_deficit_analysis https://www.ft.com/content/16cb28c0-479f-11e8-8ae9-4b5ddcca99b3 Link to comment Share on other sites More sharing options...
tinfoilhat Posted October 13, 2018 Share Posted October 13, 2018 Same, or similar to before probably. Lessons were not learned. https://www.lombardiletter.com/signs-u-s-economic-collapse/20533/ https://www.independent.co.uk/voices/10-year-anniversary-banking-crash-recession-where-will-next-one-come-from-a7886481.html https://www.telegraph.co.uk/business/2016/02/12/the-world-cant-afford-another-financial-crash--it-could-destroy/ https://www.spectator.co.uk/2017/07/the-next-financial-crisis-is-coming-with-a-vengeance-says-the-expert-but-when/ Do you want me to find the hundreds of links that might just suggest brexit might well cause a bit of bother? Come on Anna, you voted for it, own it. Link to comment Share on other sites More sharing options...
Anna B Posted October 13, 2018 Share Posted October 13, 2018 That is not remotely how it works. Go do some research and then come back before spreading complete disinformation. The national debt doesn’t have to be paid back in full and our nation’s ability to service its debts has never been an issue. If it was then the U.K. credit rating would reflect this. You've not read the links then... If the National debt doesn't have to be paid back, you'll no doubt agree with Jeremy Corbyn's National banks, and quantatitive easing for the people. Link to comment Share on other sites More sharing options...
ez8004 Posted October 13, 2018 Share Posted October 13, 2018 You've not read the links then... If the National debt doesn't have to be paid back, you'll no doubt agree with Jeremy Corbyn's National banks, and quantatitive easing for the people. You still do not understand how it works. The borrowing of money by governments is not the same as you going to a bank to get a mortgage. Let’s take the US as an example, their national debt is huge but that actually is not an issue because they are still able to service that debt without a problem. You probably think that the raising of the debt ceiling by the US Congress means that it allows them to borrow more money. You really need to read on the matter more thoroughly instead of listening to sound bites and assuming that they are factual. You are educated right? Link to comment Share on other sites More sharing options...
Anna B Posted October 13, 2018 Share Posted October 13, 2018 You still do not understand how it works. The borrowing of money by governments is not the same as you going to a bank to get a mortgage. Let’s take the US as an example, their national debt is huge but that actually is not an issue because they are still able to service that debt without a problem. You probably think that the raising of the debt ceiling by the US Congress means that it allows them to borrow more money. You really need to read on the matter more thoroughly instead of listening to sound bites and assuming that they are factual. You are educated right? Didn't we lose our 'tripple A' rating? What is it now? Link to comment Share on other sites More sharing options...
El Cid Posted October 13, 2018 Share Posted October 13, 2018 If the National debt doesn't have to be paid back, you'll no doubt agree with Jeremy Corbyn's National banks, and quantatitive easing for the people. There is Government debt and personal debt, are you referring to the debt as a whole, because its great if my loan does not need repaying Link to comment Share on other sites More sharing options...
truman Posted October 13, 2018 Share Posted October 13, 2018 Do you want me to find the hundreds of links that might just suggest brexit might well cause a bit of bother? Come on Anna, you voted for it, own it. I made a similar point on the universal credit thread but got no response from Anna so I wouldn't hild your breath.. Link to comment Share on other sites More sharing options...
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