interestrateripoff Posted September 17, 2013 Share Posted September 17, 2013 (edited) Just watching bbc news and they talked about paying down the debt in this time of austerity. Remind me again how much of the national debt has so far been paid off since this crisis began. Edited September 17, 2013 by interestrateripoff Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 17, 2013 Share Posted September 17, 2013 Just watching bbc news and they talked about paying down the debt in this time of austerity. Remind me again how much of the national debt has so far been paid off since this crisis began. Much less than 0. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted September 17, 2013 Share Posted September 17, 2013 Is it 'too far too fast'? Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted September 17, 2013 Share Posted September 17, 2013 Just watching bbc news and they talked about paying down the debt in this time of austerity. Remind me again how much of the national debt has so far been paid off since this crisis began. I heard it too. Unbelievable. Susanna Reid said it, but she was reading from the autocue. The question becomes, was it a mistake by some backstage stupid rookie, or was it written by the editor? But then, less than a minute later, a surprise in the opposite direction, Danny Alexander makes clear that they are reducing the deficit, and even explain that it is the difference between what the government earns and spends! I'm confused now. Quote Link to comment Share on other sites More sharing options...
admann Posted September 17, 2013 Share Posted September 17, 2013 All debt is is a record of past inflation, we will never pay it back and there is no need to. The deficit on the other hand drives inflation today and is more of a problem. Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted September 17, 2013 Share Posted September 17, 2013 (edited) All debt is is a record of past inflation, we will never pay it back and there is no need to. The deficit on the other hand drives inflation today and is more of a problem. Logical fail? The 'past inflation' comes to say hello every 14 years or so. The same instruments used to fund the deficit are used to roll over debt. edit find to fund. Edited September 17, 2013 by cheeznbreed Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 17, 2013 Share Posted September 17, 2013 All debt is is a record of past inflation, we will never pay it back and there is no need to. The deficit on the other hand drives inflation today and is more of a problem. poor old banks...we only pay them back because we love them. then again, maybe debt used to be a loan versus future and current actual wealth.....adding 0 to inflation...a monetisation of a wealth unit that is not easily traded.... Of course, MMT crap says no and forgets about Actual wealth. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted September 17, 2013 Share Posted September 17, 2013 I heard it too. Unbelievable. Susanna Reid said it, but she was reading from the autocue. The question becomes, was it a mistake by some backstage stupid rookie, or was it written by the editor? But then, less than a minute later, a surprise in the opposite direction, Danny Alexander makes clear that they are reducing the deficit, and even explain that it is the difference between what the government earns and spends! I'm confused now. Beaker was on Five Live too. He let slip a chestnut about the next parliament seeing the late stages of deficit reduction that went completely unchallenged. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted September 17, 2013 Share Posted September 17, 2013 All debt is is a record of past inflation, we will never pay it back and there is no need to. The deficit on the other hand drives inflation today and is more of a problem. Narrowly correct. Since the debt can't be repaid, it will be defaulted on. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 17, 2013 Share Posted September 17, 2013 Narrowly correct. Since the debt can't be repaid, it will be defaulted on. not all debt is inflation...QE definitly is inflationery as there is no covering wealth and is simply adding the quantity of money units v the wealth trading on the day. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted September 17, 2013 Author Share Posted September 17, 2013 How the UK has been paying down the debt.... This Chart from here Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 17, 2013 Share Posted September 17, 2013 How the UK has been paying down the debt.... This Chart from here the Osborne chart doesnt showed the sale of family jewels, like the Post Office, and soon Lloyds bank...thats not to say the Loon didnt sell any family jewels Quote Link to comment Share on other sites More sharing options...
Errol Posted September 17, 2013 Share Posted September 17, 2013 People need to email the BBC (and other places) on this. Debt is growing at record levels. Spending is due to rise continuously. There is no austerity. Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted September 17, 2013 Share Posted September 17, 2013 People need to email the BBC (and other places) on this. Debt is growing at record levels. Spending is due to rise continuously. There is no austerity. + 1 We should focus on the fact that "paying down the debt" is factually untrue. If we are very precise, focusing on the factual mistake/lie of this phrase (which they use A LOT!), and pointing out that lying to (or "misinforming"? ), the viewers contravenes the BBC's charter, then just a few emails may suffice. Who knows. Besides, it will take just a few minutes. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 17, 2013 Share Posted September 17, 2013 People need to email the BBC (and other places) on this. Debt is growing at record levels. Spending is due to rise continuously. There is no austerity. That's like a Syrian emailing Assad to tell him there was a terrible smell of gas in his neighbourhood the other day. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted September 17, 2013 Author Share Posted September 17, 2013 I heard it too. Unbelievable. Susanna Reid said it, but she was reading from the autocue. I think she still needs spanking.... Quote Link to comment Share on other sites More sharing options...
Guest TheBlueCat Posted September 17, 2013 Share Posted September 17, 2013 Remind me again how much of the national debt has so far been paid off since this crisis began. About -500 billion. You just need to get yourself comfortable with negative numbers. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted September 17, 2013 Share Posted September 17, 2013 About -500 billion. You just need to get yourself comfortable with negative numbers. And if you can get to grips with imaginary numbers you can get a job at the Treasury. Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted September 17, 2013 Share Posted September 17, 2013 I think she still needs spanking.... + 3 Quote Link to comment Share on other sites More sharing options...
janch Posted September 17, 2013 Share Posted September 17, 2013 Very few people know the difference between the deficit and the total debt. Your 2 graphs illustrate this magnificently and should be much more widely disseminated. Quote Link to comment Share on other sites More sharing options...
sombreroloco Posted September 17, 2013 Share Posted September 17, 2013 The only way to repay the debt is to borrow more money. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted September 17, 2013 Share Posted September 17, 2013 That's like a Syrian emailing Assad to tell him there was a terrible smell of gas in his neighbourhood the other day. Exactly, just switch off the nonsense and meditate under the full moon or something else constructive, the propaganda will continue as long as the sheeple only want to understand Emmerdale plots. Many people are awakening however.....run towards the light! Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted September 17, 2013 Share Posted September 17, 2013 The only way to repay the debt is to borrow more money. Or go on the game? Quote Link to comment Share on other sites More sharing options...
LC1 Posted September 18, 2013 Share Posted September 18, 2013 Very few people know the difference between the deficit and the total debt. Your 2 graphs illustrate this magnificently and should be much more widely disseminated. Yes, possibly in large part because the most trusted news source in this country keeps spewing this kind of misinformation? Shocking. (surely no accident, they can't be that dumb?!) Quote Link to comment Share on other sites More sharing options...
Guest TheBlueCat Posted September 18, 2013 Share Posted September 18, 2013 And if you can get to grips with imaginary numbers you can get a job at the Treasury. Ba-dumb! Quote Link to comment Share on other sites More sharing options...
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