TheCountOfNowhere

UK Debt clock approaching £2 TRILLION

45 posts in this topic

Osborne et all have really out done themselves.

 

So much for reducing the deficit, fixing the economy, sort out the housing bubble and the banks.

 

C15a0NNXAAQhice.jpg

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This debt wont be repaid by the boomers who have benefited the most from it but the young people who are being hammered at every turn

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20 minutes ago, TheCountOfNowhere said:

Osborne et all have really out done themselves.

 

So much for reducing the deficit, fixing the economy, sort out the housing bubble and the banks.

 

Don't forget they have made £22m from their share of Help to Bail Banks Buy already. At £5,170 a second that's over an hour of new debt covered?

They have only given bankers £1m of our taxes to cover the re-sales that lost money. Like a bookie letting punters keep winnings but refunding money on losing bets. Since then the governbankment upped their equity share to 40% in London to make even more dosh. What could possibly go wrong?

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11 minutes ago, doomed said:

Fixed.

Debt is always repaid....one way or another....by the borrower or by the lender.

 

THE TAX PAYERS ARE THE LENDER IN THIS CASE.

 

YOU AND I WILL REPAY THIS DEBT.


WE HAVE BEEN ROBBED.

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The BoE has done £440bn QE. Like they did with Osbanker, they will give Hammond all the interest back, on the debt they bought from the DMO... ker ching... more magic money for him to pay the debt down with or spend?  That's not just cheap borrowing it's free?

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1 hour ago, TheCountOfNowhere said:

Debt is always repaid....one way or another....by the borrower or by the lender.

 

THE TAX PAYERS ARE THE LENDER IN THIS CASE.

 

YOU AND I WILL REPAY THIS DEBT.


WE HAVE BEEN ROBBED.

 

It hasn't been since 1694.

Since the taxpayer are the lender (as you assert) they must also be the recipient of the savings represented by the debt (it is their pensions, savings, incomes et al)

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1 hour ago, Democorruptcy said:

The BoE has done £440bn QE. Like they did with Osbanker, they will give Hammond all the interest back, on the debt they bought from the DMO... ker ching... more magic money for him to pay the debt down with or spend?  That's not just cheap borrowing it's free?

I like to think of Phil as the 'Two Trillion Pound Man'.

big_spender_single.jpg

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When it gets to figures like that what is the difference, and who can tell the difference between two trillion or three, say four trillion in debt, will get the same reaction as one trillion in debt, what is a trillion or two between friends?......when is gets beyond the point of realistically paying it back within a lifetime or two, may as well continue till can borrow no more...wishing and hoping any unpaid balance eventually will drop off the cliff.;)

 

The biggest fear is any assets/credits held will be confiscated to offset the debts/debits.....can't have it both ways.

Edited by winkie

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3 hours ago, TheCountOfNowhere said:

So much for reducing the deficit, fixing the economy, sort out the housing bubble and the banks.

It goes on to say:

 

"The truth however is much worse, factoring in all liabilities including state and public sector pensions, the real national debt is closer to £4.8 trillion.

Some £78,000 for every man woman and child in the UK".

 

And this is before things go tits up, we have our HPC and we have to bail out all the banks again!!!!!

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8 minutes ago, Mapatasy said:

It goes on to say:

 

"The truth however is much worse, factoring in all liabilities including state and public sector pensions, the real national debt is closer to £4.8 trillion.

Some £78,000 for every man woman and child in the UK".

 

And this is before things go tits up, we have our HPC and we have to bail out all the banks again!!!!!

People are alrady being forced to work till they are 67 to get their state pension.

 

Which for women means they've been robbed of approx £60000

 

Coincidence...I think not.

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1 hour ago, TheCountOfNowhere said:

People are alrady being forced to work till they are 67 to get their state pension.

 

Which for women means they've been robbed of approx £60000

 

Coincidence...I think not.

...correct....there are no promises, there are no guarantees.....best not expect anything because it will not be there when you need it....health service, pensions or property.....;)

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1 hour ago, interestrateripoff said:

All this debt and sluggish growth.

Credit growth is insufficient to keep an economy growing, what's needed is continuous credit acceleration.

Since it's impossible to accelerate forever, periodically credit acceleration turns negative and economic growth slows or contracts (with a slight lag).

GDP growth vs credit acceleration for the euro area economies:

Bank-impulse-and-real-growth-for-the-fou

 

 

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6 hours ago, TheCountOfNowhere said:

Osborne et all have really out done themselves.

 

So much for reducing the deficit, fixing the economy, sort out the housing bubble and the banks.

 

C15a0NNXAAQhice.jpg

So what? 

Its meaningless.

 

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2 minutes ago, GreenDevil said:

So what? 

Its meaningless.

 

meaningless....until it isn't. In my opinion it will flick like a switch.

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"who cares so long as I have a comfortable retirement" is the thought process of the powers that be and their constituents.

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40 minutes ago, Wayward said:

meaningless....until it isn't. In my opinion it will flick like a switch.

Like all attempts at continued exponential growth this will be the same. It will go from everything is fine to oh shit in an instant.

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