Reply to: Britains Trillion Pound Horror - Channel 4

[OwlHoot]

No idea what the Laffer curve was until I looked on google there, now I am an expert on economics.

I looked it up, and by God he's right!

There was me thinking it was a measure of Scouse humour.

[TimberWolf]

Can't climatologists use spare capacity on their monstrous computers to simulate the economy and nail this one on the head once and for all. What's best, for most, low taxes or a big public sector.

[Sysman]

Secondly, the terms and concepts you mention have been discussed here at length in myriad other threads. For example, I'd wager almost anyone on this forum (perhaps with the exception of AtW) is familiar with the Laffer curve.

I thought a Laffer curve was to do with Global Warming...

"Is this a hockey sick which I see before me,
The handle toward my hand? Come, let me clutch thee.
I have thee not, and yet I see thee still.
Art thou not, fatal vision, sensible
To feeling as to sight? Or art thou but
A hockey stick of the mind, a false creation,
Proceeding from the heat-oppressed brain?"

(apologies to Bill S.)

[minestrone]

No idea what the Laffer curve was until I looked on google there, now I am an expert on economics.

[GreenLabel]

Translation:

As greenlabel doesn't know what he's talking about then neither can anyone else

Firstly, my point, which you seem to have missed, is that you're bagging everyone else's knowledge of the subject without demonstrating any of your own. If you've got an opinion, put it out there. If you think you're an expert, let's see you prove it.

Secondly, the terms and concepts you mention have been discussed here at length in myriad other threads. For example, I'd wager almost anyone on this forum (perhaps with the exception of AtW) is familiar with the Laffer curve.

[Ruprect]

Translation:

"No one here knows what they're talking about. I do, and to prove it, here are some words I found using a search engine."

Translation:

As greenlabel doesn't know what he's talking about then neither can anyone else

[Ruprect]

Translation:

"No one here knows what they're talking about. I do, and to prove it, here are some subjects you might like to look into before you start waxing lyrical and making yourself look like a baseless idiot, but which I can't be bothered to explain to you, because you're a baseless idiot"

FTFY

[suityou01]

Translation:

"No one here knows what they're talking about. I do, and to prove it, here are some words I found using a search engine."

Bitchy, but fair. And funny.

I watched half an hour of it, found it really patronising and turned it off.
Until the debt bites, no one will really care. What my limited brain tells me is that if things carry on we are likely to default, which we have done before, and survived.

Don't worry, be happy.

[GreenLabel]

I don't profess to be an economist, though I do have a degree in it

Some things that haven't been considered here are:

- foreign trade ("just default on the debt everything'll be fine" - right-o matey)
- the laffer curve
- types of money and the effect of governments altering the supply of money (and when to do it)
- sovereign debt

etc etc.

far be it for me to suggest that you professionals stop though.

Translation:

"No one here knows what they're talking about. I do, and to prove it, here are some words I found using a search engine."

[Ruprect]

Oh do enlighten us Oh great guru.

I don't profess to be an economist, though I do have a degree in it

Some things that haven't been considered here are:

- foreign trade ("just default on the debt everything'll be fine" - right-o matey)
- the laffer curve
- types of money and the effect of governments altering the supply of money (and when to do it)
- sovereign debt

etc etc.

far be it for me to suggest that you professionals stop though.

[MarillionFan]

How does borrowing generate wealth for the country?

I thought borrowing is what happens when you cannot afford something?

Not necessarily. I borrow money when the cost of borrowing is less than the amount I can invest it for. Therefore generates wealth.

[scooterscot]

A country borrowing cash is actually good in some respects. There will be a demand for the currency and it is a chosen method of long term borrowing to finance solid infrastructure projects.

How does borrowing generate wealth for the country?

I thought borrowing is what happens when you cannot afford something?

[TykeMerc]

Bolton is like that. So people just go the the Trafford Centre instead. And now Bolton town centre is dead. We travel to the next town because parking is free, and where live its all restricted with silly pay and display machines. Some charging £2 for 1 hour, when I only need 20min.

Halifax is much the same.

There used to be plenty of on street free parking around the town which while not booming used to be doing ok. The parking nera the centre was 1 hour max, a bit further out 2 hours, so it was practical to nip into town to get a few things.

Some rabidly anti car biddy (who apparently had never driven) was appointed to lead the traffic strategy for the town, the parking was halved, pay and display machines installed and a few of the road layouts changed so that getting into the town centre was more difficult, they also employed a squadron of parking vultures who ticket like mad. At the same time the Council which owns most of the town centre shoved the rents and rates sky high.
Nett effect loads of empty shops, number of shops occupied by Charity organisations increased significantly and the town centre is dead. People drive to the White Rose in Leeds, Trafford Centre in Manchester (80 mile round trip) or Meadowhall in Sheffield (100 mile round trip) rather than head into the Halifax town centre.

[AlfredJPruffock]

"The PLA is the world's largest military force, with approximately 3 million members"

People's Liberation Army - Wikipedia, the free encyclopedia

Well if you cant beat them - Comrades .... so we are the mercy of a Communust Country and all this debt repayment is going ultimately to Chinese Bond Holders ... there you have it.


But if you carrying pictures of Chairman Mao
You aint going to make it with anyone - anyhow

[alreadypacked]

Thanks GL.

If it is the Bond Holders - then why not simply write off the Trillion debt by saying 'Tough Luck Old Bean - your Bond is now junk'.

If they dont like it - then how many tanks do the Bond Holders have ?

"The PLA is the world's largest military force, with approximately 3 million members"

People's Liberation Army - Wikipedia, the free encyclopedia