reddog Posted July 21, 2021 Share Posted July 21, 2021 https://www.google.com/amp/s/news.sky.com/story/amp/covid-19-record-8-7bn-spent-paying-interest-on-soaring-government-debt-last-month-12360252 Quite incredible, due mainly to inflation linked bonds. I recon there is going to be some "interesting" economic data in the coming months! Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted July 21, 2021 Share Posted July 21, 2021 That’s quite a lot isn’t it? Didn’t the 2012 Olympics cost approximately 10Bn? Ahhhh those heady days when 10Bn was considered a lot of money! Quote Link to comment Share on other sites More sharing options...
Grumio Posted July 21, 2021 Share Posted July 21, 2021 At what point does this become self-reinforcing... Ie increasing interest rates least to increased borrowing? This could be what forces the boe to increase rates finally? Quote Link to comment Share on other sites More sharing options...
spyguy Posted July 22, 2021 Share Posted July 22, 2021 10 hours ago, Grumio said: At what point does this become self-reinforcing... Ie increasing interest rates least to increased borrowing? This could be what forces the boe to increase rates finally? You run out of road at some point. After the Brown fk-up and Gidiots cuts - and he did cut a lot, though by ignoring Education and health, he avoided the biggest consumers of government - I thought theres possibility the UK will meet is obligations without providing we dont have a large recession in the next 20 years - yeah I know. I think we are looking at the end of the sterling as we know it. I also think all the public sector striking about pay rises are going to get it in their necks, pension wise. Looking ahead, you can see a hard and soft pound option a la Cuba. Quote Link to comment Share on other sites More sharing options...
Will! Posted July 22, 2021 Share Posted July 22, 2021 2 hours ago, spyguy said: I also think all the public sector striking about pay rises are going to get it in their necks, pension wise. I think you're right. In 2019 the Government lost a discrimination lawsuit about closing its many final salary pension schemes. https://www.fbu.org.uk/news/2019/12/18/firefighters-win-back-pensions-blow-government https://neu.org.uk/advice/judges-and-firefighters-age-discrimination-pension-case The Government will need to put up pension contributions a lot to pay for this. Quote Link to comment Share on other sites More sharing options...
winkie Posted July 22, 2021 Share Posted July 22, 2021 Quote Link to comment Share on other sites More sharing options...
shlomo Posted July 22, 2021 Share Posted July 22, 2021 2 hours ago, spyguy said: You run out of road at some point. After the Brown fk-up and Gidiots cuts - and he did cut a lot, though by ignoring Education and health, he avoided the biggest consumers of government - I thought theres possibility the UK will meet is obligations without providing we dont have a large recession in the next 20 years - yeah I know. I think we are looking at the end of the sterling as we know it. I also think all the public sector striking about pay rises are going to get it in their necks, pension wise. Looking ahead, you can see a hard and soft pound option a la Cuba. You are right but wrong, nearly all government plans everywhere except China have been shot to pieces, so all governments are running out of money we are not really in a worse position in comparison Quote Link to comment Share on other sites More sharing options...
Locke Posted July 22, 2021 Share Posted July 22, 2021 45 minutes ago, shlomo said: You are right but wrong, nearly all government plans everywhere except China have been shot to pieces, so all governments are running out of money we are not really in a worse position in comparison Something like this happened before World something or other. Twice I seem to recall. Quote Link to comment Share on other sites More sharing options...
shlomo Posted July 22, 2021 Share Posted July 22, 2021 5 hours ago, Locke said: Something like this happened before World something or other. Twice I seem to recall. The problems of South Africa are linked to the rise of China and the change in direction of money. Quote Link to comment Share on other sites More sharing options...
dirtyduck Posted July 22, 2021 Share Posted July 22, 2021 I remember being angry about them wasting £150 million on the millennium dome. How embarrassing 😳 Quote Link to comment Share on other sites More sharing options...
reddog Posted July 22, 2021 Author Share Posted July 22, 2021 1 hour ago, dirtyduck said: I remember being angry about them wasting £150 million on the millennium dome. How embarrassing 😳 Yeah it's a bit of a joke, the money wasted on furlough, track and trace etc. are mind boggling, we could have given vunerable people a gold plated care package to shield and not got anywhere to the sums we have now spent, if we had just kept the rest of the economy running. Quote Link to comment Share on other sites More sharing options...
dirtyduck Posted July 22, 2021 Share Posted July 22, 2021 (edited) 13 minutes ago, reddog said: Yeah it's a bit of a joke, the money wasted on furlough, track and trace etc. are mind boggling, we could have given vunerable people a gold plated care package to shield and not got anywhere to the sums we have now spent, if we had just kept the rest of the economy running. Yup. It’s quite clearly a managed printathon to the next monetary system. Most people are to busy with life to really notice or care. So it’s a case of trying your best to understand this point in time and try and fill your boots (by that I mean financially survive:) ). Edited July 22, 2021 by dirtyduck Quote Link to comment Share on other sites More sharing options...
msi Posted July 22, 2021 Share Posted July 22, 2021 3 hours ago, dirtyduck said: I remember being angry about them wasting £150 million on the millennium dome. How embarrassing 😳 Compared to this lot, Brown selling off Gold reserves was a rounding error. Quote Link to comment Share on other sites More sharing options...
morty Posted July 23, 2021 Share Posted July 23, 2021 Contracts like this might explain it - https://www.contractsfinder.service.gov.uk/notice/bbec3a9a-168a-46c5-a71d-990c2a8a8212?origin=SearchResults&p=1 Quote Link to comment Share on other sites More sharing options...
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