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A couple of week back someone posted the "UK debt calculator"......anyway are there any countries in less debt than us? Any in profit ? (Lol) .....maybe the Easter Islands?
Many thanks in advance.
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For the economists on here on 19:04 - Jan 22 with 3397 views
For the economists on here on 19:07 - Jan 22 by dickythorpe
Wow that was quick!!!!
I wonder if it'll ever get to be paid??????
[Post edited 22 Jan 2017 19:08]
It's not designed to be paid back, in my opinion anyway. I don't see how it can be with the interest increasing exponentially. It's all about skimming off the monthly repayments from each country's collective wealth, and controlling the populace.
Just for the sake of context, the budget for Wales is £15 billion annually. Our debt repayment is £52 billion annually. Or was a few years back, it's probably more now. £1 f*cking billion a week.
Nations, including ours, are being held to ransom by these usurious debts. It's utterly insane. £1 billion a week for an initial loan of £1,200,000?! Say what?!
[Post edited 22 Jan 2017 20:20]
If you want a vision of the future, imagine a boot stamping on a human face--forever.
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For the economists on here on 22:39 - Jan 22 with 3303 views
So if the national debt cant be paid back (it cant its impossible) why do we have such harsh cutbacks and austerity measures implemented by successive governments trying to reduce the national debt?
It does nt make sense at all.
Anyways,heres the debt clock for the UK,read it and weep...the debt continues to grow at over £5000 PER SECOND! money we re somehow expected to pay back....
For the economists on here on 22:39 - Jan 22 by Lord_Bony
So if the national debt cant be paid back (it cant its impossible) why do we have such harsh cutbacks and austerity measures implemented by successive governments trying to reduce the national debt?
It does nt make sense at all.
Anyways,heres the debt clock for the UK,read it and weep...the debt continues to grow at over £5000 PER SECOND! money we re somehow expected to pay back....
All about power and control LB. And you know the really crazy thing, the madcap laugh? This monetary system, these notes we use, the whole setup - it's backed by nothing of intrinsic value. This entity, that permeates every aspect of our lives - is backed only by our 'Trust' in it.
For the economists on here on 23:01 - Jan 22 by Jack_Meoff
All about power and control LB. And you know the really crazy thing, the madcap laugh? This monetary system, these notes we use, the whole setup - it's backed by nothing of intrinsic value. This entity, that permeates every aspect of our lives - is backed only by our 'Trust' in it.
For the economists on here on 23:09 - Jan 22 by Kerouac
What do you believe has been stolen from you? and What do you propose as an alternative system?
Not me personally Kez. I was talking as a collective.
An alternative system? To be honest, I don't think it's necessarily money itself is the issue. If you look at what's written on a promissory note - 'I promise to pay the bearer on demand the sum of £5' (or whatever), then that's the promise of a on obligation. If we want something, we fulfill our obligation. Promissory notes used to be written for goods in general, as well as precious metals, which our bank notes were initially used to redeem.
The issue is usury. For example, our national debt originates from an initial loan of £1,200,000 in 1694, from the cartel who set up the Bank of England, to King William III. Loan repayment wasn't wanted, the interest payments were. Fast forward to today and the interest payments are £1 billion a WEEK. Not bad for that initial loan eh? And the debt always seems to increase in times of war, makes you wonder why it's so prevalent.
I'm not claiming to have all the answers, this just seems madness to me. As a sovereign nation we've always been able to issue our own debt free currency. Somewhere along the line this seems to have been hijacked.
And an aside - before the Bank of England was set up in 1694 no income tax was paid in UK. The US's latest equivalent private bank (The Federal Reserve) was set up at the end of 1913. Before then Americans paid no income tax, and had a minimal national debt. Tax was sold as a wartime tax. It's never gone away. It's now around the $20 trillion mark (the US national debt).
I don't pretend to have all the answers Kez, just saying that this seems like total insanity to me. I don't claim to have all the facts either, and will happily be corrected on any points.
[Post edited 23 Jan 2017 0:09]
If you want a vision of the future, imagine a boot stamping on a human face--forever.
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For the economists on here on 23:48 - Jan 22 with 3190 views
Money is now printed out by many governments out of thin air with nothing of intrinsic value to back it up,then flooded into the economy. Also known as quantitative easing.
Why should we care?
One day the markets will say enough of this bullshit and currencies like the dollar and sterling could be devalued overnight and crash.
This would cause a major crisis for the world.
If the dollar collapses,many monetary experts and currency traders reckon it s on its last legs,then that would mean the end of the current money system.
Unfortunately,were that to happen it would also have a catastrophic effect on the people of the USA as money becomes worthless.
What would happen if the dollar collapses? Have a look at this potential scenario...
This post has been edited by an administrator
PROUD RECIPIENT OF THE THIRD PLANET SWANS LIFETIME ACHIEVEMENT AWARD.
"Per ardua ad astra"
For the economists on here on 23:51 - Jan 22 by Lord_Bony
Money is now printed out by many governments out of thin air with nothing of intrinsic value to back it up,then flooded into the economy. Also known as quantitative easing.
Why should we care?
One day the markets will say enough of this bullshit and currencies like the dollar and sterling could be devalued overnight and crash.
This would cause a major crisis for the world.
If the dollar collapses,many monetary experts and currency traders reckon it s on its last legs,then that would mean the end of the current money system.
Unfortunately,were that to happen it would also have a catastrophic effect on the people of the USA as money becomes worthless.
What would happen if the dollar collapses? Have a look at this potential scenario...
Certain irony with the motley crew of leftists on here talking about debt when their politics is built on it.
Fiscal conservatism is constantly slated on here, yet the whole point of it is to live within ones means and only borrow to invest in wealth creation e.g. infrastructure in times of recession.
Borrowing should not be used for sunk costs and current spending.
We either reduce the size of the State or we dramatically increase taxation to pay for largesse.
If we were actually practising austerity we would not be borrowing money to fund current spend it's as simple as that.
The best argument against democracy is a five-minute conversation with the average voter
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For the economists on here on 20:42 - Jan 23 with 2944 views
For the economists on here on 20:39 - Jan 23 by rock1n
Certain irony with the motley crew of leftists on here talking about debt when their politics is built on it.
Fiscal conservatism is constantly slated on here, yet the whole point of it is to live within ones means and only borrow to invest in wealth creation e.g. infrastructure in times of recession.
Borrowing should not be used for sunk costs and current spending.
We either reduce the size of the State or we dramatically increase taxation to pay for largesse.
If we were actually practising austerity we would not be borrowing money to fund current spend it's as simple as that.
The entire economic system is built on debt mun. Without debt, capitalism can't function and everything grinds to a halt.
For the economists on here on 20:39 - Jan 23 by rock1n
Certain irony with the motley crew of leftists on here talking about debt when their politics is built on it.
Fiscal conservatism is constantly slated on here, yet the whole point of it is to live within ones means and only borrow to invest in wealth creation e.g. infrastructure in times of recession.
Borrowing should not be used for sunk costs and current spending.
We either reduce the size of the State or we dramatically increase taxation to pay for largesse.
If we were actually practising austerity we would not be borrowing money to fund current spend it's as simple as that.
Sorry,the point being made is this.
Harsh austerity measures to pay off the debt seem a bit of a waste as none of these measures can make the slightest dent on the national debt. So cutbacks are for nothing really.. Just there to look good on paper.
Also a big national debt is a dangerous thing sometimes. It could come back and bite us on the backside one day! :)
PROUD RECIPIENT OF THE THIRD PLANET SWANS LIFETIME ACHIEVEMENT AWARD.
"Per ardua ad astra"
For the economists on here on 20:46 - Jan 23 by Highjack
Can't we use one of those companies who can consolidate our debt into more manageable payments?
We should never have borrowed from Wonga in the first place.
If you can fill the unforgiving minute.
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And - which is more - you'll be a Man, my son!
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For the economists on here on 02:12 - Jan 24 with 2804 views
For the economists on here on 21:47 - Jan 23 by Lord_Bony
Sorry,the point being made is this.
Harsh austerity measures to pay off the debt seem a bit of a waste as none of these measures can make the slightest dent on the national debt. So cutbacks are for nothing really.. Just there to look good on paper.
Also a big national debt is a dangerous thing sometimes. It could come back and bite us on the backside one day! :)
The deficit has reduced by 2/3 - the debt has increased because we haven't reached surplus.
Osborne rightly wanted to run budget surplus but this has been ripped up due to brexit.
I'll say it again, you can't have it all if you want your socialist paradise we have to pay much higher taxation and that's not just the rich, that means everyone e.g. higher VAT, lower personal allowance and lower tax bands.
People always bang on about the utopia of Scandinavia but they pay much, much higher taxes and therefore can realistically fund high public spending.
But in this Country it's either spending cuts or Johnny Mctoff has to cough up again, we never have a serious debate.
The best argument against democracy is a five-minute conversation with the average voter
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For the economists on here on 09:10 - Jan 24 with 2770 views
For the economists on here on 02:12 - Jan 24 by rock1n
The deficit has reduced by 2/3 - the debt has increased because we haven't reached surplus.
Osborne rightly wanted to run budget surplus but this has been ripped up due to brexit.
I'll say it again, you can't have it all if you want your socialist paradise we have to pay much higher taxation and that's not just the rich, that means everyone e.g. higher VAT, lower personal allowance and lower tax bands.
People always bang on about the utopia of Scandinavia but they pay much, much higher taxes and therefore can realistically fund high public spending.
But in this Country it's either spending cuts or Johnny Mctoff has to cough up again, we never have a serious debate.
Well firstly,I'm not a left wing socialist,I prefer to think of myself as a capitalist businessman.
Secondly,the U.K. Debt has not decreased by two thirds despite what Osbourne says...
It's actually increased by £550 billion under him since 2010 according to many sources with interest accruing daily.
Just making the point the national debt can never be paid back....no matter which government is in office..
That was more aimed at the general leftism that infects this board.
On the point you're making as I've already highlighted, I said the 'deficit' is down by 2/3 not the 'debt'
When the coalition came to office it was the highest in the developed World around 11% of GDP around 160bn it has reduced significantly but while we're still borrowing debt will increase as well.
The best argument against democracy is a five-minute conversation with the average voter
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For the economists on here on 11:34 - Jan 24 with 2708 views
Austerity, is a euphemism for cutting back essential services in order to pay their buddies in the arms industry billions for trident - which doesn't even work properly
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