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Spain in state of total emergency

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    Originally posted by sasguru View Post
    You clearly don't.
    So what does it mean?
    Yesterday you seemed to think that it meant a rising GDP/debt ratio - and since some countries have run deficits for decades you'd expect them to be indebted up to their eyeballs.
    But they're not.

    Cretin.
    UK's debt levels are higher than Spain and their budget deficit (have you understood this yet??) is the 3rd worse in the EU i.e. 10% of GDP. UK debt is 80% of GDP.

    So do your sums:

    2012 80% + 10% = 90%
    2013 90% + 10% = 100%
    2014 100% + 10% = 110%
    2015 110% + 10% = 120% ....pow....you're in a mess.

    Comprendo? (thought not).

    Currently the deficit hasn't been cut. Not yet...
    I'm alright Jack

    Comment


      Originally posted by BlasterBates View Post
      UK's debt levels are higher than Spain and their budget deficit (have you understood this yet??) is the 3rd worse in the EU i.e. 10% of GDP. UK debt is 80% of GDP.

      So do your sums:

      2012 80% + 10% = 90%
      2013 90% + 10% = 100%
      2014 100% + 10% = 110%
      2015 110% + 10% = 120% ....pow....you're in a mess.

      Comprendo? (thought not).

      Currently the deficit hasn't been cut. Not yet...

      That's not how it works, you complete plonker
      You do realise the UK and many other countries have been running deficits for decades? If you calculation was right our debt would be something round the 10000% mark.

      You are good for a laff though.
      What do you do for a living, do tell?
      Hard Brexit now!
      #prayfornodeal

      Comment


        Originally posted by BlasterBates View Post
        UK's debt levels are higher than Spain and their budget deficit (have you understood this yet??) is the 3rd worse in the EU i.e. 10% of GDP. UK debt is 80% of GDP.

        So do your sums:

        2012 80% + 10% = 90%
        2013 90% + 10% = 100%
        2014 100% + 10% = 110%
        2015 110% + 10% = 120% ....pow....you're in a mess.

        Comprendo? (thought not).

        Currently the deficit hasn't been cut. Not yet...
        Once again you completely fail to see the point.

        The UK deficit is there because we stupidly enough indulged ourselves with a socialist government who borrowed and squandered vast amounts of money in order to pay huge numbers of people to work in pointless jobs or not work at all. The whole point is that by not being in the Euro we can now readjust our currency to stimulate growth in order to pay back our borrowings. So although the UK may be heavily in debt the lending markets are confident that the UK can pay back its borrowings. Not so with Spain, Italy and Greece
        Let us not forget EU open doors immigration benefits IT contractors more than anyone

        Comment


          Originally posted by sasguru View Post

          You do realise the UK and many other countries have been running deficits for decades??

          Not as high.

          In fact debt levels have been swelling for years but since 2008 they've reached dangerous levels, also in the US. i.e. this is a general problem of developed economies, slowly building up debt.
          Last edited by BlasterBates; 1 June 2012, 09:07.
          I'm alright Jack

          Comment


            Originally posted by BlasterBates View Post
            Not as high.

            In fact debt levels have been swelling for years but since 2008 they've reached dangerous levels, also in the US. i.e. this is a general problem of developed economies, slowly building up debt.
            But you realise deficits don't get added to the total debt/GDP ratio now don't you?
            You realise need to get a basic economics book and read it. Pass it on to Atw when you're done
            Hard Brexit now!
            #prayfornodeal

            Comment


              Originally posted by sasguru View Post
              But you realise deficits don't get added to the total debt/GDP ratio now don't you?
              You realise need to get a basic economics book and read it. Pass it on to Atw when you're done
              The debt levels are an accumulation of deficits!!!

              Are you deliberately feigning ignorance?


              Lets say the UK has a GDP of £100

              It has debt of £60 OK

              It has a deficit of 10% of GDP i.e. £10

              The UK isn't growing, it's almost 0, so GDP isn't going to move is it?

              This deficit has to be funded by additional debt of £10. Now the total debt of the UK is £70.

              This is exactly how it works.
              Last edited by BlasterBates; 1 June 2012, 09:17.
              I'm alright Jack

              Comment


                Originally posted by BlasterBates View Post
                The debt levels are an accumulation of deficits!!!

                Are you deliberately feigning ignorance?


                Lets say the UK has a GDP of £100

                It has debt of £60 OK

                It has a deficit of 10% of GDP i.e. £10

                The UK isn't growing, it's almost 0, so GDP isn't going to move is it?

                This deficit has to be funded by additional debt of £10. Now the total debt of the UK is £70.

                This is exactly how it works.
                No its not. HTH, BIDI.
                Hard Brexit now!
                #prayfornodeal

                Comment


                  Originally posted by BlasterBates View Post
                  The debt levels are an accumulation of deficits!!!

                  Are you deliberately feigning ignorance?


                  Lets say the UK has a GDP of £100

                  It has debt of £60 OK

                  It has a deficit of 10% of GDP i.e. £10

                  The UK isn't growing, it's almost 0, so GDP isn't going to move is it?

                  This deficit has to be funded by additional debt of £10. Now the total debt of the UK is £70.

                  This is exactly how it works.

                  I see you are neatly trying to move the argument away from the failings of the Euro
                  Let us not forget EU open doors immigration benefits IT contractors more than anyone

                  Comment


                    Originally posted by sasguru View Post
                    No its not. HTH, BIDI.
                    Any chance of telling us how you think it works? Or just going to stick to childish insults?

                    How is the Portugese holiday home?

                    Comment


                      Originally posted by DodgyAgent View Post
                      I see you are neatly trying to move the argument away from the failings of the Euro
                      We are all bored with talking of the Euro failings. Lets just let in fail asap and move on......

                      Comment

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