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House Price Crash Forum

admann

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About admann

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    HPC Poster
  1. So when I spend my credit with your company and they use it to pay your wages is it still credit, then when you spend it down the supermarket is it still credit then....... There is no difference, less so when you consider that on aggregate the debt can never be repaid.......
  2. QE is not debasing the currency it is replacing the currency, the only issue is that we need to tease out the failing debt based currency prior to replacing it with equity based currency - this will give a stop start economy for decades......
  3. Interest rates are purely a function of the ability of those in debt to pay interest. They can only head downwards without a shed load more QE or debt forgiveness or complete system collapse. Lend your neighbour £10 at 100% interest and he can pay you (he might not like you), lend them £1M at 100% interest and probably not and you'll be lucky to see your original capital in full. If you take a position in debt and you are not in the outlying 5% you'll be just fine....
  4. More than 2 decades in my case working with almost every major OEM in aerospace, automotive, life sciences, O&G etc... UK born engineers under 35 are less than 5% of the workforce
  5. I think that is a bit of a myth, I would say the main difference between the UK and Germany, is that a high proportion of German Engineers are German, whereas almost 100% of our Engineers are from overseas, and we have got used to a better standard of Engineer than exists in Germany, and consequently we will never employ Brits (or Germans) again when we can have Eastern Europeans and Asians with a far higher standard of education.. There is far more high tech Engineering in the UK than in Germany.
  6. No and that is a key thing to remember. The economy is just a black box that distributes wealth between those currently alive. The dead and how much debt they left is irrelevant.
  7. More of a grey pigeon, this was a dead cert the day Millipede blocked intervention in Syria......
  8. I did not say optimal I said better. And the bailing out is the point. The bail out is inevitable and costs nothing and mirrors the centak bank creating the stuff in the first place. All debt must necessarily be bailed out as you put it e eventually
  9. This assumes debt is a problem. It is not. Banks and private individuals have a much better track record of creating money in appropriate amounts compared to the state. Worrying about debt is like worrying about antimatter, it cannot be paid off without cancelling out the same amount of money. The only place debt can end up is down the back of the BoEs sofa, leaving us in the same place as if they had created ir in the first place. The only problem with debt is if people forget what it is...
  10. No, no, no and did i say no! The 18 year olds newly minted debt is handed over to you to save. Now they are struggling to meet your rentier demands. What did you expect....
  11. Why should we reward the rentiers - rates should and will be negative ..... If you had hoarded all the natural resources on a desert island would you expect the other inhabitants to (i) come and add what little they have managed to forage to your pile, or (ii) take some of your pile to even things up ....
  12. 100% IHT with no exploitable loopholes would be a good step to reduce the cumulative effects of rentierism... I think rentierism within your own lifetime is ok, after all that is capitalism, its a game, play hard and get others working for you, but we should all start with a level playing field
  13. No one ever got rich through hard work - the only route is rentierism. Some people put a lot of effort into rentierism but that is different! If you have an above average salary you are harvesting the efforts of those below you, if you have savings you are harvesting the efforts of those in debt..
  14. If in the rest of the economy debt is being reduced then the state has to run a deficit. This can be done until all non state debt is settled, i.e. indefinitely, it is not a problem..
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