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interestrateripoff

Has The Telegraph Just Added The Debt Clock To It's Website?

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Haha - until after the election.

Yes I was just thinking the same. Now which party is claiming to cut the debt the most?

I am more worried about private debt why don't they have a clock for that?

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Haha - until after the election.

Has the Telegraph become anti-Tory? That clock just emphasises the Tories are still running a massive deficit, have not got the economy under control after 5 years, and are basically incompetent.

I could understand them having the clock on the site if we had a Labour government but surely this is just shooting themselves in the foot.

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Has the Telegraph become anti-Tory? That clock just emphasises the Tories are still running a massive deficit, have not got the economy under control after 5 years, and are basically incompetent.

I could understand them having the clock on the site if we had a Labour government but surely this is just shooting themselves in the foot.

Disagree I think the debt clock frightens people and makes the national debt higher on their voting agenda.

Personally I think if they printed and just paid it off It would have less effect than most people think. Is there anyone stupid enough to think the government will ever pay it off in a conventional way?If not then the price of default must already be priced in.

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Thats the Barclay Brothers bank balance. It goes up every time you click on the website

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Yes I was just thinking the same. Now which party is claiming to cut the debt the most?

I am more worried about private debt why don't they have a clock for that?

+1

Minsky argued that a key mechanism that pushes an economy towards a crisis is the accumulation of debt by the non-government sector. He identified three types of borrowers that contribute to the accumulation of insolvent debt: hedge borrowers, speculative borrowers, and Ponzi borrowers.

The “hedge borrower” can make debt payments (covering interest and principal) from current cash flows from investments. For the “speculative borrower”, the cash flow from investments can service the debt, i.e., cover the interest due, but the borrower must regularly roll over, or re-borrow, the principal. The “Ponzi borrower” (named for Charles Ponzi, see also Ponzi scheme) borrows based on the belief that the appreciation of the value of the asset will be sufficient to refinance the debt but could not make sufficient payments on interest or principal with the cash flow from investments; only the appreciating asset value can keep the Ponzi borrower afloat. Because of the unlikelihood of most investments’ capital gains being enough to pay interest and principal, much of this type of finance is fraudulent.

If the use of Ponzi finance is general enough in the financial system, then the inevitable disillusionment of the Ponzi borrower can cause the system to seize up: when the bubble pops, i.e., when the asset prices stop increasing, the speculative borrower can no longer refinance (roll over) the principal even if able to cover interest payments. As with a line of dominoes, collapse of the speculative borrowers can then bring down even hedge borrowers, who are unable to find loans despite the apparent soundness of the underlying investments.

http://www.levyinstitute.org/pubs/wp74.pdf

Edited by zugzwang

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£1,499,137,316,294
Currently at this, well it was when I did a cut and paste.
Nearly at £1.5tr, just think how bad it would be without austerity.

That's just so yesterday, I've already seen it go up £130m in about 12 hours.

So, £230,000,000ish a day,

£1,600,000,000ish a week

£7,250,000,000ish a month.

It's nothing, what are we all worried about.

I mean, those £12bn savings on welfare will knock a huge hole in those figures. Unless stamp duty falls due to lower sales, lower prices.

It's quite compelling to see what's going to happen; most folk on zero hours contracts which are topped up by WTC, or self employed, and topped up with WTC.

Where's the money coming from to fund paying the deficit off, then attacking this huge debt? What's the deficit, £85bn or so? Growth has been downgraded too, so surely the budget plans will have changed?

Anyone else concerned?

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Given that we owe around £1.5tr, this is unlikely to go down.

If we had a £100bn surplus it will take around 15 years to bring it zero.

£75bn a year surplus 20 years.

£50bn a year surplus 30 years

£25bn a year surplus 60 years

£20bn a year surplus 70 years

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http://www.theguardian.com/news/datablog/2010/oct/18/deficit-debt-government-borrowing-data

Deficits-by-chancellor-001.jpg

Given the largest ever surplus was a mere £16.7bn, puts into context how improbably the idea even if we overcome the farcical notion that would could actually run a government surplus.

Edited by interestrateripoff

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Look on the bright side Osborne gap a plan for more public sector workers running cities and taxing us more to pay for it.

Our worries are over

Lots of work for guys designing regional debt clocks.

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How long till it hits £1.5trillion exactly? It makes for gripping viewing!

There is £470M to go to reach £1.5T and it is rising at just over £200k per minute so I calculate 39 hours and 11 minutes time, i.e about 3:02 am on Sunday morning 17th May.

Might stay up!

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There is £470M to go to reach £1.5T and it is rising at just over £200k per minute so I calculate 39 hours and 11 minutes time, i.e about 3:02 am on Sunday morning 17th May.

Might stay up!

And £2T debt is reached in 4 years 9 months time after that!

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There is £470M to go to reach £1.5T and it is rising at just over £200k per minute so I calculate 39 hours and 11 minutes time, i.e about 3:02 am on Sunday morning 17th May.

Might stay up!

B)

Thanks, I was far too lazy to work that out!

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