The looney left
Discussion
BlackLabel said:
????????
It is going online so the youth can watch it
And frankly since they dropped Mongrels there is f
k all to watch on BBC3s2art said:
xjsdriver said:
Or the next lot may be even less truthful about the state of state finances, like the whopper of a line that the deficit would be a thing of the past come the next election.....Anyone remember that particular cracker from five years ago?
They tried, they failed. Heart in the right place though. Nobody guessed the Eurozone crisis would run on so long. An official from the USA Fed said; 'who could have guessed that the Europeans would just flail around for three years?'Otispunkmeyer said:
s2art said:
xjsdriver said:
Or the next lot may be even less truthful about the state of state finances, like the whopper of a line that the deficit would be a thing of the past come the next election.....Anyone remember that particular cracker from five years ago?
They tried, they failed. Heart in the right place though. Nobody guessed the Eurozone crisis would run on so long. An official from the USA Fed said; 'who could have guessed that the Europeans would just flail around for three years?'PorkInsider said:
McWigglebum4th said:
The only way we can save ourselves is an extra 180billion of spending per year
And i will be voting SNP to ensure we get the UK back on track
Out of interest, what would you consider 'back on track' to look like?And i will be voting SNP to ensure we get the UK back on track
Not sure if this has been shown, Labours tax plan on Sundays Politics show today:
https://www.youtube.com/watch?v=9H7rX3_sqXo
https://www.youtube.com/watch?v=9H7rX3_sqXo
Edited by BGARK on Sunday 29th March 22:36
BGARK said:
Not sure if this has been shown, Labours tax plan on Sundays Politics show today:
https://www.youtube.com/watch?v=9H7rX3_sqXo
lol @ "£75 billion deficit that we've have inherited" https://www.youtube.com/watch?v=9H7rX3_sqXo
Edited by BGARK on Sunday 29th March 22:36
As if they had nothing at all to do with it.
It's been a bad week for Labour economics:
http://order-order.com/2015/03/24/rachel-reeves-fi...
Jesus Christ, you lot know next to nothing about economics.
Whenever I hear politicians talk about paying down the national debt or equating countries to households, I know instantly that they're f**king clueless.
Government debt is largely illusory. Firstly, Governments don't need to balance their budgets with tax revenue because if they have a central bank it can simply print more money. Governments don't even have to pay interest on money their central banks create. Furthermore, if you look at the secondary markets, Treasury borrowing costs are now the lowest in history. For your information, no government in history has ever paid off its public debt.
The vast majority of debt created by Governments currently in the western world is to bail out their private masters i.e. the banks.
Private debt is far more pernicious and worrying than public debt will ever be.
Whenever I hear politicians talk about paying down the national debt or equating countries to households, I know instantly that they're f**king clueless.
Government debt is largely illusory. Firstly, Governments don't need to balance their budgets with tax revenue because if they have a central bank it can simply print more money. Governments don't even have to pay interest on money their central banks create. Furthermore, if you look at the secondary markets, Treasury borrowing costs are now the lowest in history. For your information, no government in history has ever paid off its public debt.
The vast majority of debt created by Governments currently in the western world is to bail out their private masters i.e. the banks.
Private debt is far more pernicious and worrying than public debt will ever be.
The question you have to ask yourself is a simple one: are we in a better position now because of Tory policies of austerity than we would be with the Labour policies in 2010 that would have had us borrowing more?
Not even the most hard-line Labour supporter could deny the Tory policy was the correct one surely?
Not even the most hard-line Labour supporter could deny the Tory policy was the correct one surely?
Jimbo0912 said:
Jesus Christ, you lot know next to nothing about economics.
Whenever I hear politicians talk about paying down the national debt or equating countries to households, I know instantly that they're f**king clueless.
Government debt is largely illusory. Firstly, Governments don't need to balance their budgets with tax revenue because if they have a central bank it can simply print more money. Governments don't even have to pay interest on money their central banks create. Furthermore, if you look at the secondary markets, Treasury borrowing costs are now the lowest in history. For your information, no government in history has ever paid off its public debt.
The vast majority of debt created by Governments currently in the western world is to bail out their private masters i.e. the banks.
Private debt is far more pernicious and worrying than public debt will ever be.
What a load of complete bWhenever I hear politicians talk about paying down the national debt or equating countries to households, I know instantly that they're f**king clueless.
Government debt is largely illusory. Firstly, Governments don't need to balance their budgets with tax revenue because if they have a central bank it can simply print more money. Governments don't even have to pay interest on money their central banks create. Furthermore, if you look at the secondary markets, Treasury borrowing costs are now the lowest in history. For your information, no government in history has ever paid off its public debt.
The vast majority of debt created by Governments currently in the western world is to bail out their private masters i.e. the banks.
Private debt is far more pernicious and worrying than public debt will ever be.
ks Jimbo0912 said:
Jesus Christ, you lot know next to nothing about economics.
Whenever I hear politicians talk about paying down the national debt or equating countries to households, I know instantly that they're f**king clueless.
Government debt is largely illusory. Firstly, Governments don't need to balance their budgets with tax revenue because if they have a central bank it can simply print more money. Governments don't even have to pay interest on money their central banks create. Furthermore, if you look at the secondary markets, Treasury borrowing costs are now the lowest in history. For your information, no government in history has ever paid off its public debt.
The vast majority of debt created by Governments currently in the western world is to bail out their private masters i.e. the banks.
Private debt is far more pernicious and worrying than public debt will ever be.
Could you please explain then why the richest countries in the world are not just the ones with the most printers?Whenever I hear politicians talk about paying down the national debt or equating countries to households, I know instantly that they're f**king clueless.
Government debt is largely illusory. Firstly, Governments don't need to balance their budgets with tax revenue because if they have a central bank it can simply print more money. Governments don't even have to pay interest on money their central banks create. Furthermore, if you look at the secondary markets, Treasury borrowing costs are now the lowest in history. For your information, no government in history has ever paid off its public debt.
The vast majority of debt created by Governments currently in the western world is to bail out their private masters i.e. the banks.
Private debt is far more pernicious and worrying than public debt will ever be.
jimbobsimmonds said:
mybrainhurts said:
Gargamel said:
You cannot print money or borrow money indefinitely.
Jimbob can, he knows next to everything about economics...I think he's Russell Brand, testing the water....
R666 said:
Jimbo0912 said:
Jesus Christ, you lot know next to nothing about economics.
Whenever I hear politicians talk about paying down the national debt or equating countries to households, I know instantly that they're f**king clueless.
Government debt is largely illusory. Firstly, Governments don't need to balance their budgets with tax revenue because if they have a central bank it can simply print more money. Governments don't even have to pay interest on money their central banks create. Furthermore, if you look at the secondary markets, Treasury borrowing costs are now the lowest in history. For your information, no government in history has ever paid off its public debt.
The vast majority of debt created by Governments currently in the western world is to bail out their private masters i.e. the banks.
Private debt is far more pernicious and worrying than public debt will ever be.
What a load of complete bWhenever I hear politicians talk about paying down the national debt or equating countries to households, I know instantly that they're f**king clueless.
Government debt is largely illusory. Firstly, Governments don't need to balance their budgets with tax revenue because if they have a central bank it can simply print more money. Governments don't even have to pay interest on money their central banks create. Furthermore, if you look at the secondary markets, Treasury borrowing costs are now the lowest in history. For your information, no government in history has ever paid off its public debt.
The vast majority of debt created by Governments currently in the western world is to bail out their private masters i.e. the banks.
Private debt is far more pernicious and worrying than public debt will ever be.
ks The 2007/2008 Banking Crisis had absolutely nothing to do with Government debt and everything to do with private debt. If you follow the news even slightly, you'll know that it was triggered in the US by large declines in house prices, leading to mortgage delinquencies/foreclosures and the devaluation of housing-related securities (MBS) & (CDO). Trillions of dollars were used to bail out Banks in that period (TARP was just one of the programs used). The next crisis in the western world will more of the same.
Further to my points with regards to printing/central banks, the reason that some countries (Greece, Spain etc) in the Eurozone are constantly in trouble is because they lack a central bank to monetize deficit spending into the economy to restore growth. That's the reason a lot of economists argue that the single currency is a doomed project and they're probably right.
Just out of curiosity, please name a Government that has ever paid off its public debt? Thanks.
Edited by Jimbo0912 on Monday 30th March 09:34
Jimbo0912 said:
Just out of curiosity, please name a Government that has ever paid off its public debt? Thanks.
I can name several that inflated or printed money, or grew debt to such a level that they went bankrupt. Edited by Jimbo0912 on Monday 30th March 09:34
Therefore there are quite a few that have "reset" public debt to zero and restarted from either land bonds, or gold reserves. With new paper and everything.
Heck Italy used to cross the zero's of the bank notes and use the same paper....
Venezuela
German (Weimar)
Austria
Greece - several times
Argentina
Iceland
There is helpfully a list here.
http://en.wikipedia.org/wiki/Sovereign_default
Your analysis isn't wholly inaccurate, however private debt is only a MAJOR issue, when jobs are being lost. As ever it is the pretence of being able to repay that maintains confidence.
Gargamel said:
I can name several that inflated or printed money, or grew debt to such a level that they went bankrupt.
Therefore there are quite a few that have "reset" public debt to zero and restarted from either land bonds, or gold reserves. With new paper and everything.
Heck Italy used to cross the zero's of the bank notes and use the same paper....
Venezuela
German (Weimar)
Austria
Greece - several times
Argentina
Iceland
There is helpfully a list here.
http://en.wikipedia.org/wiki/Sovereign_default
Your analysis isn't wholly inaccurate, however private debt is only a MAJOR issue, when jobs are being lost. As ever it is the pretence of being able to repay that maintains confidence.
Wrong. Hyperinflation has nothing to do with deficit spending/domestic debts. The reality is that every hyperinflation in history has come from paying foreign debts. Let's take a look at your Weimar Republic example:Therefore there are quite a few that have "reset" public debt to zero and restarted from either land bonds, or gold reserves. With new paper and everything.
Heck Italy used to cross the zero's of the bank notes and use the same paper....
Venezuela
German (Weimar)
Austria
Greece - several times
Argentina
Iceland
There is helpfully a list here.
http://en.wikipedia.org/wiki/Sovereign_default
Your analysis isn't wholly inaccurate, however private debt is only a MAJOR issue, when jobs are being lost. As ever it is the pretence of being able to repay that maintains confidence.
Germany’s inflation after WWI resulted from the Reichsbank having to pay reparations to the Allies. It sold German Marks on the foreign exchange markets for sterling, dollars & francs – far beyond Germany's ability to obtain foreign exchange by exporting. Germany had been stripped of its coal and steel production capacity by the Allies and thus its ability to export was limited. The corollary of all the above was that the currency plunged.
Declining exchange rates caused import prices to rise. The general price level followed suit. More money had to be printed to pay for transactions at the higher price level. Every serious study of hyperinflation illustrates the same sequence of causation from foreign debt payment to currency depreciation, rising domestic prices, and finally to new money creation.
Jimbo0912 said:
Gargamel said:
I can name several that inflated or printed money, or grew debt to such a level that they went bankrupt.
Therefore there are quite a few that have "reset" public debt to zero and restarted from either land bonds, or gold reserves. With new paper and everything.
Heck Italy used to cross the zero's of the bank notes and use the same paper....
Venezuela
German (Weimar)
Austria
Greece - several times
Argentina
Iceland
There is helpfully a list here.
http://en.wikipedia.org/wiki/Sovereign_default
Your analysis isn't wholly inaccurate, however private debt is only a MAJOR issue, when jobs are being lost. As ever it is the pretence of being able to repay that maintains confidence.
More money had to be printed to pay for transactions at the higher price level. Therefore there are quite a few that have "reset" public debt to zero and restarted from either land bonds, or gold reserves. With new paper and everything.
Heck Italy used to cross the zero's of the bank notes and use the same paper....
Venezuela
German (Weimar)
Austria
Greece - several times
Argentina
Iceland
There is helpfully a list here.
http://en.wikipedia.org/wiki/Sovereign_default
Your analysis isn't wholly inaccurate, however private debt is only a MAJOR issue, when jobs are being lost. As ever it is the pretence of being able to repay that maintains confidence.
You cannot print your way out of trouble forever.
w
king your supposed intellect in public and assuming others are ignorant, is an "interesting" posting style. And well done for reading "serious" studies. I only ever read the ones with pictures.
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