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Yes, interesting - especially the quote from 2008:

The Government will look at its debts, do the calculations to work out what tax rates would be require to pay them off and then introduce an austerity drive for a few years before giving up and printing large amounts of money to pay off its debts.

How did you come across this site? Usually actuaries are only mentioned on HPC to complain that they all expect 8%pa investment returns.

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...thought this guy did a nice casual summary for an actuary :

What do we learn?

1 Most bankers are f*ckwits

2 Most politicians are clueless

3 Bailouts will only extend the crisis and store up potential for hyperinflation and the rise of fascist type governments at a later stage

4 Economics departments in Universities should teach Keynes (the original version not the bastardised version currently taught), Marx and Schumpeter who all emphasised that capitalism is crisis prone.

6 Some sort of gold standard should operate as this will reduce the scope of future credit expansions

7 Friedman and Bernanke got it wrong. The great depression was not caused by the Federal Reserve's policy's in the early 1930's, but by their policies in the 1920's which allowed such a large accumulation of debt. That is Bernanke is not going to prevent a crisis this time and Greenspan's policies were disasterous

8 Central banking should probably be abandonned and interest rates set by the market

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  • 419 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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