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Captain Coma

Experts Calling A Depression

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Edmund Conway - just up on the Telegraph site.

http://www.telegraph.co.uk/finance/finance...ay-experts.html

I love this bit:

Albert Edwards, a strategist at Société Générale, likened the British economy to a Ponzi scheme — a fraudulent debt mountain like that allegedly used by the New York hedge fund manager Bernard Madoff.

“What I find amazing is that people aren’t really nailing Gordon Brown and [bank of England Governor] Mervyn King for this,” he said. “At least in the US they had the excuse of the arrival of sub-prime — a new sector of the market. We didn’t really have anything similar but we ended up with a bigger national Ponzi scheme than the US.”

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dunno ...but hasn't the UK government pension always been a ponzi scheme ,,its how it has always worked

edit sp

Edited by Tankus

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Guest theboltonfury
Oh Great. Got home early from the pub - do I go back again or just take a lethal dose of whisky?

both?

But make sure you have briefed a good friend on your intentions so you can be protected if you do try to top yourself

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We would crucify the government in Trafalgar square if we could I mean like the Romans did (however we would feed them a minimal amount and give them medical attention when needed tp prolong the agony)...

However they still have all the guns.... rush the government machine guns if you want , but you go first.

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From the article:

"The plight facing Britain is uncannily similar to the 1930s, since prices of many assets —from shares to house prices — are falling at record rates, but the value of the debt against which they are held remains unchanged.

This “debt deflation” is among the most painful of all economic phenomena, since it means the amount families owe increases each year even if they borrow no more. "

In other words, there's going to be an awful lot of people living in £100,000 houses with £250,000 mortages on them!

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IT'S A PONZI SCHEME!!

Our whole commercially issued debt-based money system is a Ponzi scheme.

At any point in time, the total existing bank debt can eventually be repaid ONLY if much of the money necessary to do so is borrowed into existence some time in the future.

This structural dependence of debt repayment upon additional future debt must continue ad infinitum.

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Our whole commercially issued debt-based money system is a Ponzi scheme.

At any point in time, the total existing bank debt can eventually be repaid ONLY if much of the money necessary to do so is borrowed into existence some time in the future.

This structural dependence of debt repayment upon additional future debt must continue ad infinitum.

Bear markets, it is said, are there to return money to its rightful owners.

this is not the end.

this is not the begining of the end.

this is not the end of the begining.

this is the start of the PONZI UNWIND

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dunno ...but hasn't the UK government pension always been a ponzi scheme ,,its how it has always worked

edit s

No, Ponzi Schemes work by recruiting ever larger numbers of suckers to pay the miracle returns to earlier joiners, eventually going bust when there's too few suckers coming in.

But in your question which pension are you talking about?

Basic State Pension?

Second State Pension?

These are funded from national insurance contributions. They aren't Ponzi Schemes, they are a sustainable and on-going redistrubtion of wealth.

Public Sector Schemes?

These are funded from contributions from both the employee, the employer and returns on investments.

On the Private Sector side:

Defined Benefit Pension Schemes are offered by companies - going-concerns that make goods or provide services - as an additional benefit for their employees. They are administered by boards of independent trustees and are subject to rigorous legislation and the need to provide statutory valuations demonstrating their financial robustness.

One key difference bewteen a Ponzi Scheme and an Occupational Pension Scheme is that to join a pension scheme you must be an employee of the company.

If pension schemes were Ponzi schemes companies would have to recruit ever larger numbers of employees to fund the scam and when have you ever heard of that happening?

If pension schemes were Ponzi schemes perhaps someone would like to explain how it is that thousands of final salary pension schemes are now closing to new members and can still comfortably fund their obligations?

If pensions schemes run deficits or go bust these days its usually down to the misfortune of poor investment returns and certainly not down to criminal intent.

Edited by Dave Spart

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Every time one of this fecking idiots speak or write something they talk the economy into more trouble...they should keep their fecking mouths shut and we would be alright..idiots the fecking lot of them.

Let there be freedom of speach

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Let there be freedom of speach

Freedom of speech for who??? me or them.....seriously, each time some idiot announces something, bang the pound drops, shares fall....its a disgrace what some of these twats have caused....personally, I think they should be sent to the Tower for high treason.....none of them have got a clue....bet they cant even count without a calculator...again they are all fecking idiots

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Freedom of speech for who??? me or them.....seriously, each time some idiot announces something, bang the pound drops, shares fall....its a disgrace what some of these twats have caused....personally, I think they should be sent to the Tower for high treason.....none of them have got a clue....bet they cant even count without a calculator...again they are all fecking idiots

Did they talk us into massive trade deficits and spiralling national debt? The b@stards, fancy doing that with just words!! :angry:

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Freedom of speech for who??? me or them.....seriously, each time some idiot announces something, bang the pound drops, shares fall....its a disgrace what some of these twats have caused....personally, I think they should be sent to the Tower for high treason.....none of them have got a clue....bet they cant even count without a calculator...again they are all fecking idiots

Wow. So clueless. :rolleyes:

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Every time one of this fecking idiots speak or write something they talk the economy into more trouble...they should keep their fecking mouths shut and we would be alright..idiots the fecking lot of them.

Unfortuntaly they spent ten years not reporting wtf was going on and this is where it got us, in fact they talked the talk of the scamsters. Right now they are talking/reporting a bit of reality for a change and even if they stopped talking, we would be in the same caca on account of the bad things have been done by the banksters and goverment/BOE etc and little can stop it, in fact a bit of negative hype can and will speed the process up rather than prolong the agony over many more years.

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Calm down everyone.

I distinctly heard OUR GLORIOUS LEADER, MacPrudence G. Brown state that 'Britain is uniquely placed to weather the current economic problems'

After all, there is no need to worry, its nothing to do with us, OGL has clearly stated on more than one occasion that 'It started in America' Why should we worry ourselves about America?

No, OGL has saved the World, he knows what's right and we can rest assured that with all his experience, things can only get better.

So there.

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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