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About dom

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    Selassie I

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  1. Money laundering. https://www.housepricecrash.co.uk/forum/index.php?/topic/232739-londons-dirty-russian-money/
  2. As long as more value can be pulled into the present from the future, GDP should rise. However, if the ability to service that borrowed value can't keep up, it will fall.
  3. Have they though? Or have EU commercial banks financed consumption on the back of converging yields?
  4. "First, prosperity is already in marked decline in almost all Western economies, typically having peaked between 2000 and 2007. The only significant exception to this pattern is Germany, largely because of the benefits conferred on the Germany economy by the euro system. " Not really. it's financial system is decentralised with over 1500 small and NFP banks.rather than an oligopoly. Regulation favors production and not speculation and they make really high quality gear that everyone wants.
  5. or while running LTD companies and taking full advantage of tax deductions....
  6. And here's how it works in practice - "In France, and with all sums expressed in euros at constant 2017 values, GDP grew by 23% between 2000 and 2017. But this growth, whilst adding €433bn to GDP, was accompanied by a €3.07tn increase in aggregate debt. This means that each €1 of reported growth in the French economy has come at a cost of more than €7 in net new debt. Put another way, whilst French GDP is growing at between 1.5% and 2.0%, annual borrowing is running at about 9.5% of GDP. " https://surplusenergyeconomics.wordpress.com/2018/12/07/140-are-yellow-jackets-the-new-fashion/?fbclid=IwAR0wgAYjIK3y44qOtO7ZcVVQHHVxmeMC9uguR-IfQYd8zn7U7z8dFmOXmIk
  7. Yep. It's like economists take what it is that gives currency value for granted - skilled labour, resources and the products when the two are combined. Reading the MMT you'd think the end game was no one lifting a finger, in reality it would be Zimbabwe. Looking at the Euro zone, there's Germany making everything and the rest are pawning whatever they have to by it, with window guidance from the ECB.
  8. This happened to a dear friend. IO mortgage to contend with when kids went off to Uni. It all worked out in the end but involved some serious down sizing and compromise.
  9. They are saying that countries can run large deficits indefinitely. That's a great vote winner, right? There's little about the role of commercial bank assets, MBS, etc or the role of foreign holders of gov paper.
  10. Probably our own debt crisis too.
  11. Well, there's ****** all chance of us trying to reform it from the outside.
  12. Well, yeah. This is the paper the article links to http://www.levyinstitute.org/pubs/wp244.pdf Loads missing in my opinion
  13. Interesting read, whatever you make of it.. https://www.vice.com/en_uk/article/a34n54/modern-monetary-theory-explained Interview with Mosler. Worth a listen. https://soundcloud.com/undergroundnet/warren-mosler-interview-dialogos-2015-11-25
  14. Sorry I meant borrowing cost, the interest rate on 1yr is lower than the US.

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