Stu1 Posted September 23, 2009 Share Posted September 23, 2009 Its weird how every country in the world has a public debt the norm seems to be 20-40% of GDP how can so many countries be in debt? and why do the western countries always have more debt than anyone else in the world? Quote Link to comment Share on other sites More sharing options...
Dorkins Posted September 23, 2009 Share Posted September 23, 2009 Based on my figures and times, it's approximately £37m every 100 minutes, which is half a billion £ a day. Agreed, I made it about £8 per person per day. No point in bringing sandwiches to work really, is there? Quote Link to comment Share on other sites More sharing options...
Guest P-Diddly Posted September 23, 2009 Share Posted September 23, 2009 try this one.. http://buttonwood.economist.com/content/gdcEdit - lets all goto Belarus its got one of the lowest public debt to GDP %s in the world, so it must be good? :/ Well it's a bit worse than this place for murder. But only by 4 places. http://www.nationmaster.com/graph/cri_mur_...ders-per-capita Quote Link to comment Share on other sites More sharing options...
Guest P-Diddly Posted September 23, 2009 Share Posted September 23, 2009 Its weird how every country in the world has a public debtthe norm seems to be 20-40% of GDP how can so many countries be in debt? and why do the western countries always have more debt than anyone else in the world? Debt is wealth. Surely you read this site? I suspect it's all a big con game backed up with gun boat diplomacy. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted September 23, 2009 Share Posted September 23, 2009 Amatuers In April 2006, when the stock market was booming, the civil service pension black hole was £1.1 TRILLION. It will be closer to £2 trillion now. And that's just the occupation civil service pensions, it excludes standard state pension and SERPS liabilities. Total unfunded pension liabilities, due by the state over the next 10-20 years will be in excess of £5 trillion. And they are index linked to RPI. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted September 23, 2009 Author Share Posted September 23, 2009 http://cluaran.free.fr/debt.html This one is slightly less although it could because it's not been updated. Quote Link to comment Share on other sites More sharing options...
Scott Posted September 23, 2009 Share Posted September 23, 2009 At some point they are going to have to 'reboot' the system. The impact of compounded debt will be just too devastating otherwise. How do they do that? Why not just print £100 billion and reset every year? BTW When I looked at just before midnight last night the clock was on £818bn. Lunchtime today it was £820bn. It is now £821bn. Holy moley. Quote Link to comment Share on other sites More sharing options...
council dweller Posted September 23, 2009 Share Posted September 23, 2009 Looking at the page source this is the url of the debt clock by itself. http://www.timesonline.co.uk/multimedia/ar...er2_617262a.swf Bumped for insomniacs. Surely it must slow down at night! Or are all public sector staff out clubbing? Quote Link to comment Share on other sites More sharing options...
quinnbear Posted September 24, 2009 Share Posted September 24, 2009 That clock really does put everything the government says into perspective. Plans to save £2bn by 'efficiency' savings in education? Great - that £2Bn saving will be eaten up within a week (if the clock is going £500,000,000 per day). £20Bn saved if we scrap Trident - fabulous, about a month and that saving will be negated too. It seems a long time ago that yearly government borrowing of £40-50bn was considered very high. After all, a billion pounds is £1,000,000,000. The figures are now so big that it becomes like measuring really big (or small) things in science and using exponentials 'cos the numbers are so long. Maybe if the government built a 1:1 scale model of how big that debt would be if it was a pile of £50 notes, people might get a sense of the scale of the problem? QB Quote Link to comment Share on other sites More sharing options...
the_austrian Posted September 24, 2009 Share Posted September 24, 2009 I know this is HPC lecture 2, but where the hell is the money coming from ??? China, QE, Dragons Den ??How much longer can it go on for ?? if Treasuries were themselves considered to be a form of money then issuing debt is the same as printing money, or quantitative easing as they say.. So the question becomes: is there a reason to consider Treasuries not to be money. When the Bank of England do quantitative easing, is this not the same as issuing debt?? Quote Link to comment Share on other sites More sharing options...
Guest P-Diddly Posted September 24, 2009 Share Posted September 24, 2009 That clock really does put everything the government says into perspective. Plans to save £2bn by 'efficiency' savings in education? Great - that £2Bn saving will be eaten up within a week (if the clock is going £500,000,000 per day).£20Bn saved if we scrap Trident - fabulous, about a month and that saving will be negated too. It seems a long time ago that yearly government borrowing of £40-50bn was considered very high. After all, a billion pounds is £1,000,000,000. The figures are now so big that it becomes like measuring really big (or small) things in science and using exponentials 'cos the numbers are so long. Maybe if the government built a 1:1 scale model of how big that debt would be if it was a pile of £50 notes, people might get a sense of the scale of the problem? QB . . . 8 hours. I think the whole system is not what everyone thinks it is. Quote Link to comment Share on other sites More sharing options...
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