Originally posted by moder8or
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Previously on "How long do you think the current UK economic and employment downturn will last for?"
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Originally posted by Doggy Styles View Post
So taxpayers don't have to make those interest payments then, £50 billion a year and rising?
.. if the debt keeps rising as it is, we will one day be paying more in interest than we can affiord to spend on public services.
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Originally posted by OwlHoot View PostExplaining counterintuitive economic concepts to AtW (and one or two others round here) is like trying to teach a chimp quantum field theory.
Let me put it another way. This debt helps shield us, the general public, from the worst effects of Government and EU interference and gives more leeway for private enterprise to step in and achieve things much more efficiently than meddling Governments ever could. Their impotence, trapped behind their wall of national debt, is our freedom. Can't you see that?
National debt is NOT LIKE private debt, as those pathetic Daily Wailish "£1000 per person" comparisons would suggest. It'll never need paying off and while it persists (as it has for the last two centuries at least) we can sleep more soundly knowing that tyranny is far less likely.
P.S. Having lived in Russia, you of all people Alexie should understand that debts afflicting the USSR and other communist countries led to more freedom.
I always looked at the National finances in the same way. I never understood why some of these concepts you are discussing would alter that
I must be missing sommat
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Originally posted by OwlHoot View PostNational debt is NOT LIKE private debt, as those pathetic Daily Wailish "£1000 per person" comparisons would suggest.
With public debt everyone finances - even the poor as they'd have to be paying extra VAT in a month time.
Effectively Brown turned national debt into new deferred taxation.
P.S. Having lived in Russia, you of all people Alexie should understand that debts afflicting the USSR and other communist countries led to more freedom.
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Originally posted by OwlHoot View PostExplaining counterintuitive economic concepts to AtW (and one or two others round here) is like trying to teach a chimp quantum field theory.
Let me put it another way. This debt helps shield us, the general public, from the worst effects of Government and EU interference and gives more leeway for private enterprise to step in and achieve things much more efficiently than meddling Governments ever could. Their impotence, trapped behind their wall of national debt, is our freedom. Can't you see that?
National debt is NOT LIKE private debt, as those pathetic Daily Wailish "£1000 per person" comparisons would suggest. It'll never need paying off and while it persists (as it has for the last two centuries at least) we can sleep more soundly knowing that tyranny is far less likely.
I think you are missing the point completely, that if the debt keeps rising as it is, we will one day be paying more in interest than we can affiord to spend on public services.
But if that's OK I think someone should tell Ireland and Greece to chill out a bit!
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Originally posted by OwlHoot View PostExplaining counterintuitive economic concepts to AtW (and one or two others round here) is like trying to teach a chimp quantum field theory.
Let me put it another way. This debt helps shield us, the general public, from the worst effects of Government and EU interference and gives more leeway for private enterprise to step in and achieve things much more efficiently than meddling Governments ever could. Their impotence, trapped behind their wall of national debt, is our freedom. Can't you see that?
National debt is NOT LIKE private debt, as those pathetic Daily Wailish "£1000 per person" comparisons would suggest. It'll never need paying off and while it persists (as it has for the last two centuries at least) we can sleep more soundly knowing that tyranny is far less likely.
P.S. Having lived in Russia, you of all people Alexie should understand that debts afflicting the USSR and other communist countries led to more freedom.
I'm afraid things have moved on since the 1960's and the West is no longer the dominant force that it was.
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Originally posted by AtW View Post
Debt is at critical point when you have to borrow again in order to pay off lenders - this has been happening in the West for a long time now, so the mountain is so large that interest payments alone (at current artificially depressed rates) are massive: £73 bln per year predicted for 2014/15. That's over £1000 for each person in the UK including children and elder, or £3.5k per household per year interest payments only.
That's about the amount VAT raises I think, so in order to pay just for those interest payments VAT would have go go up to 35-40%.
Yes, the debt is THAT massive.
Let me put it another way. This debt helps shield us, the general public, from the worst effects of Government and EU interference and gives more leeway for private enterprise to step in and achieve things much more efficiently than meddling Governments ever could. Their impotence, trapped behind their wall of national debt, is our freedom. Can't you see that?
National debt is NOT LIKE private debt, as those pathetic Daily Wailish "£1000 per person" comparisons would suggest. It'll never need paying off and while it persists (as it has for the last two centuries at least) we can sleep more soundly knowing that tyranny is far less likely.
P.S. Having lived in Russia, you of all people Alexie should understand that debts afflicting the USSR and other communist countries led to more freedom.
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Originally posted by Clippy View PostIsn't that illegal?
go up - woooof
aww fergerrit
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Originally posted by OwlHoot View PostHow many more times?
Excessive individual debt is servitude and lost opportunities.
Bloated sovereign debt means freedom from interference, and more opportunities.
Yearning to reduce, or even eliminate, the national debt is naive and frankly childish.
Rather than being frankly childish, it is up to each nation to decide what level of debt they can cope with.
Too high, and the proportion of GDP lost paying interest is too high. This is compounded by rises in the rate of interest we'd be charged if markets lose confidence in ability to repay.
That's where we were heading.
I hope this helps.
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Originally posted by OwlHoot View PostYearning to reduce, or even eliminate, the national debt is naive and frankly childish.
That's about the amount VAT raises I think, so in order to pay just for those interest payments VAT would have go go up to 35-40%.
Yes, the debt is THAT massive.Last edited by AtW; 21 November 2010, 14:31.
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Originally posted by Doggy Styles View Post
Interest payments on national debt are currently running at £45 billion. I think that's nearly half the cost of the NHS. Those payments will increase all the time we have a deficit.
We cannot even start reducing those payments until we have done away with the deficit and moved into surplus. It's anyone's guess, but I don't see that point happening for best part of 10 years, and that's even if the coallition's plans work.
Excessive individual debt is servitude and lost opportunities.
Bloated sovereign debt means freedom from interference, and more opportunities.
Yearning to reduce, or even eliminate, the national debt is naive and frankly childish.
Leave a comment:
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