'Web of debt'

[briSk]

..this has been going around this morning.

quite a nice chart (once you've considered it for a moment!). Possibly not bad as a riposte to the 'disproportionate bu66erdness of UK' view a lot of PH has.

http://www.nytimes.com/interactive/2010/05/02/week...

[K12beano]

Makes Ponzi schemes look good! Oh hang on - it IS mainly the Italians!

[briSk]

K12beano said:

Makes Ponzi schemes look good! Oh hang on - it IS mainly the Italians!

For me there were two thoughts really. spain is fubar'd.

and crikey france/french institutions have a lot more to do with itlay than i ever realised!

[Tangent Police]

I take it the white background is one of UK's arrows.

[zac510]

Looks like we (Britain) are owed a bit then, can we call that st in?

[Leithen]

zac510 said:

Looks like we (Britain) are owed a bit then, can we call that st in?

Nope, 'cause they ain't got anything to give back.

Although I suppose we could request a few stretches of coastline....

[Digga]

zac510 said:

Looks like we (Britain) are owed a bit then...

The unintended, surprise benefit of being a net importer of goods.

[StevieBee]

Italy owes GB $77 billion.

Shall we say a Ferrari or Lambo each and call it quits?

[Leithen]

How about enlarging Gibraltar? We could take in Seville, Malaga, Cadiz....

[elster]

Leithen said:

How about enlarging Gibraltar? We could take in Seville, Malaga, Cadiz....

No we got rid of the Costa Del Sol residents over many years.

I don't want them back.

[Digga]

Leithen said:

How about enlarging Gibraltar? We could take in Seville, Malaga, Cadiz....

Perhaps we could send some spare Naval vessels down there to 'help' with the repayment process?

Why does that sound familiar?

[nelly1]

StevieBee said:

Italy owes GB $77 billion.

Shall we say a Ferrari or Lambo each and call it quits?

I like your thinking!

[Uncle Fester]

Better still, pass the debts onto our creditors in lieu of payment. Let them collect those debts, and us start rebuilding our economy with as little debts as possible.

[sonic_2k_uk]

Pretty interesting, cheers.

[don4l]

zac510 said:

Looks like we (Britain) are owed a bit then, can we call that st in?

No.

The graphic is misleading.

Most of that debt is owed to institutions, not governments. So, British institutions(banks, pension funds etc.) are owed money.

Don
--

[louiebaby]

Uncle Fester said:

Better still, pass the debts onto our creditors in lieu of payment. Let them collect those debts, and us start rebuilding our economy with as little debts as possible.

A whole load of "netting off" would be helpful all over Europe, but the maturity of all the different debt makes it very difficult. Also, how would that keep lots more civil servants in their jobs, with final salary pensions?

Too sensible an idea unfortunately.

[CzechItOut]

Leithen said:

How about enlarging Gibraltar? We could take in Seville, Malaga, Cadiz....

Better still, can we divide up Wales, Scotland and Northern Ireland and give pieces to our creditors by way of payment?

[chippy17]

don4l said:

zac510 said:

Looks like we (Britain) are owed a bit then, can we call that st in?

No.

The graphic is misleading.

Most of that debt is owed to institutions, not governments. So, British institutions(banks, pension funds etc.) are owed money.

Don
--

what do we owe them?

[don4l]

chippy17 said:

don4l said:

zac510 said:

Looks like we (Britain) are owed a bit then, can we call that st in?

No.

The graphic is misleading.

Most of that debt is owed to institutions, not governments. So, British institutions(banks, pension funds etc.) are owed money.

Don
--

what do we owe them?

As of Feb 18th, our national debt was £848 billion ($1.28 Trillion). This represents 60% of GDP. Current spending plans (roughly the same for all three parties, whatever the media would have you believe) will see this rise to about £1.4 Trillion ($2.1 Trillion) in the next 2-3 years.

The markets will not allow this to happen, as they would be expecting a default. If Labour win, or there is a hung parliament, then the fun starts Friday. If the Conservatives win, then all the market traders will be trying to guess what all the other traders are making of the situation. They know that the market is going tits up at some point, but they won't be sure when that is.

If the Conservatives win, then I think that the markets will focus on Portugal and Spai. When those situations are resolved, the whirlwind will start here.

Everyone knows it, but they are burying their heads in the sand.

I see that 3 people were killed in riots in Greece today.


Don
--

[SmoothRB]

Debt money is a massive ponzi scheme.

It's unsustainable, you need to keep creating more debt money to service the old debt money (interest payments).