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Never quite understood why Financial sector liabilities are included, since they should be balanced out by assets, at least to within a few %. And rolling up decades of pension payments into a lump sum and calling it debt seems a bit dubious.

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Never quite understood why Financial sector liabilities are included, since they should be balanced out by assets, at least to within a few %. And rolling up decades of pension payments into a lump sum and calling it debt seems a bit dubious.

Like stock valuations were during the dotcom bubble?

Like the wrekin ruby was?

Asset 'values' are only ever based on a wafer thin volume of transactions at a second in time. If suddenly everyone wants to sell, the 'value' plummets.

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Like stock valuations were during the dotcom bubble?

Like the wrekin ruby was?

Asset 'values' are only ever based on a wafer thin volume of transactions at a second in time. If suddenly everyone wants to sell, the 'value' plummets.

This is true, but simply saying 'There is this huge pile of debt on the bank;s balance sheets' isn't entirely accurate..

(Hmmm. Thought I was meant to be the leftie here?)

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Britain is a Third World economy built on borrowed money, nepotism and financial crime. The sooner it's allowed to wither and die the better.

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Saw this about a year ago, I think they are spot on in explaining the pension timebomb and how over 50 years of not doing the right things and can kicking has contributed to the mess we are now in.

Not going to buy a subscription though...

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If such a disaster happens, you would want your assets outside of the banking system and beyond the reach of the state. Bitcoin may suit this situation well.

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You know when fire unions consider £19,000 pension a modest sum at 55 that we are f**ked and the liabilities are not properly costed. Meanwhile the open market option of said pension without lump sum is just shy of one million pounds per fire fighter at the current 2.1% annuity purchase rate for index linking an annuity at 55.

Meanwhile we can keep up the illusion that the public sector liabilities are a mere trillion whilst we keep the other four trillion off the balance sheet. And crashmonitor is counting on his 200k state pension being met from the UK Ponzi scheme at a cost of around 200k at 67 in 17 years time.

Edited by crashmonitor

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You know when fire unions consider £19,000 pension a modest sum at 55 that we are f**ked and the liabilities are not properly costed. Meanwhile the open market option of said pension without lump sum is just shy of one million pounds per fire fighter at the current 2.1% annuity purchase rate for index linking an annuity at 55.

Meanwhile we can keep up the illusion that the public sector liabilities are a mere trillion whilst we keep the other four trillion off the balance sheet. And crashmonitor is counting on his 200k state pension being met from the UK Ponzi scheme at a cost of around 200k at 67 in 17 years time.

There are families now who have contributed nothing at all to society and will end up drawing a lot more out of the system than any Fireman, These are the people we need to spotlight first and get the benefits system back under control.

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There are families now who have contributed nothing at all to society and will end up drawing a lot more out of the system than any Fireman, These are the people we need to spotlight first and get the benefits system back under control.

#

It's probably too generous across the board, even if like me you are just going to draw a state pension with a full national insurance record. But politicians and the public will collude to keep welfare as it is and we will hit the buffers one day.

You make a good point. A friend of mine who hasn't worked more than a handful of years (she stopped working at 30) claims to clear £300 a week with higher DLA and state pension, and her rent and council tax are paid.

Edited by crashmonitor

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Never quite understood why Financial sector liabilities are included, since they should be balanced out by assets, at least to within a few %. And rolling up decades of pension payments into a lump sum and calling it debt seems a bit dubious.

yes it can be misleading.

for example, if someone from France deposits £100 into a UK bank account, the UK's debt just went up by £100...

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Britain is a Third World economy built on borrowed money, nepotism and financial crime. The sooner it's allowed to wither and die the better.

not quite.

the people stealing from this country via fraudulent banking practice/industrial espionage are more on the hook than we are.

you don't honestly think that having streets full of estate agents/betting shops/pawnbrokers and pizza parlours/nail bars while decimating our industry is merely accidental policy and poor management do you?

to be that piss poor at everything takes a work of malevolent genius.....OF COURSE IT'S BEEN PLANNED THAT WAY.

and now it's time to find out who was doing the planning....and expose them.

nothing is hidden...but there are some who like telling the big lie for a very long time....and a few people believe them

the problem with the big lie strategy is you have to keep on lying and lying and lying to keep up the pretense......and loose lips do sink ships don't they!

Edited by oracle

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I have seen this in a couple of different guises from Moneyweek. They make some fair points, though that doesn't mean I am going to subscribe.

Out of interest does anyone know what is in "the special wealth preservation report" (just a few of lines of "executive summary")

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I have seen this in a couple of different guises from Moneyweek. They make some fair points, though that doesn't mean I am going to subscribe.

Out of interest does anyone know what is in "the special wealth preservation report" (just a few of lines of "executive summary")

I can quite agree with MoneyWeek but they have been saying this for years.

Bit like hpc really :) But hpc is free!

I registered with MW but its the usual come-on. The mag is OK but its the same every week and full of successful investors selling their secrets and.or at the top of their personal curve.

Mervyn SW is OK tho

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This is true, but simply saying 'There is this huge pile of debt on the bank;s balance sheets' isn't entirely accurate..

(Hmmm. Thought I was meant to be the leftie here?)

Needs to be some kind of stricter mark to market, rather than 'we sold this house for xxx amount in 2007, thus our portfolio will all be priced accordingly'

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