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Bank of England poised to act if household debt spirals
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Originally posted by _V_ View PostThe economy tanks, so they create a huge amount of cheap debt. Everyone sucks it up, buys cars they can't afford, buys houses at ridiculous income multiples, become debt laden consumers, and then the creators of the debt bubble throw their hands up in horror.
And these people are supposed to inspire us with confidence?
The death of money can't come soon enough for me: this capitalist fiction has really gone past its sell-by date.Comment
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Originally posted by AtW View PostLooks like my money will be safer in sofasThe greatest trick the devil ever pulled was convincing the world that he didn't existComment
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Originally posted by seanraaron View PostThe death of money can't come soon enough for me: this capitalist fiction has really gone past its sell-by date.
I feel sure that the money printing will be turned on again soon. Entirely aimed at the rich.Comment
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Originally posted by BrilloPad View PostThe astonishing thing is no-one seems to understand it. Cheap beer and football can surely only placate the mob for so long?
I feel sure that the money printing will be turned on again soon. Entirely aimed at the rich.Comment
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Originally posted by seanraaron View PostYep, stupid stupid stupid. They want to ape the American consumer economy and then freak if people amass debt. If people stop buying stuff they'll freak because of currency deflation and building houses people can't afford is an economic "engine."
The death of money can't come soon enough for me: this capitalist fiction has really gone past its sell-by date.
http://www.zerohedge.com/news/2016-0...entation-slide
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Originally posted by PurpleGorilla View PostSome of the latest collective thinking is a quick move to a cashless society - to prevent hoarding as they cut rates to negative...
Something Very Disturbing Spotted In A Morgan Stanley Presentation | Zero Hedge
Denmark moves closer to a cashless society | Europe | News | The Independent
If everyone's wealth is just a number in a computer in a bank, it can be done in seconds....Comment
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Originally posted by DimPrawn View PostYou can't steal depositors money if it is in cash under the mattress.
Denmark moves closer to a cashless society | Europe | News | The Independent
If everyone's wealth is just a number in a computer in a bank, it can be done in seconds....
Anyway, for most of us it's already cashless. The norm for me is to only have £100 or so in my wallet but generally I do all transactions by card or over the 'net.
If we move to cashless, smart people will move to invest in assets (property, gold, stones, art etc) rather than keep numbers in a bank account.Comment
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Western Europe and the USA are living beyond their means, simple as that. Unfortunately, it's not an easy thing to escape, with wealth from the east maintaining the property bubble in London and giving the appearance that everything is ok.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
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Originally posted by PurpleGorilla View PostSome of the latest collective thinking is a quick move to a cashless society - to prevent hoarding as they cut rates to negative... .
Abolishing cash would be the most tyrannical, totalitarian move imaginable, and would have all kinds of highly undesirable side effects.
But I can't see it happening in the foreseeable future, apart from maybe in piffling little ecomomies like Denmark, because China and India probably now between them hold most of the World's gold and if cash was abolished they would suddenly become world superpowers numbers 1 and 2, with the US a distant third.Work in the public sector? Read the IR35 FAQ hereComment
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