Where do all these bailout billions keep coming from?
Discussion
fido said:
Deva Link said:
They take it off public sector workers.
Who are paid out of taxation i.e. the private sector. And inflation which is stealing from anyone who has net assets.And a weak currency which is taking from anyone who has to spend that currency.
mattnunn said:
I wish someone would write a proper book or essay to get to the bottom of whether the Germans actually planned this or it was, for them, just a happy coincidence.
Happy? Seriously, the very worst country to be at the moment is Germany.If the Euro survives it will be the German taxpayer who pays. If it breaks up, Target 2 means the same thing happens.
mattnunn said:
So to those of us who aren't economics academics might be interetsed to listen to this...
http://www.bbc.co.uk/iplayer/episode/b01j5h51/Anal...
That man's a lunatic.http://www.bbc.co.uk/iplayer/episode/b01j5h51/Anal...
He wants to reduce speculative bubbles by limiting the amount of times an individual share can be sold. How on earth is that going to help?
He's sort of right about personal debt, but not sure why he thinks that is more significant than government debt. I'm not sure why anyone does for that matter.
Dracoro said:
It says in the synopsis that he was one of the "few" to predict the banking crisis. I disagree, I think there were quite a number of those predicting this but they simply weren't being listened to by the government and bankers of the day as would have made transparent the flaky foundations of all the loans and OTT government spending of the day.
Nothing will really change, we'll still have boom (too irresistible to politicians) and bust (unavoidable) as no-one (in power at least as well as half the population) wants to listen to the moderate view (seen as dull/negative). Instead we'll have this swinging backwards and forwards. They'll say "we've learnt the lessons" but when the economy booms again, will they say they'll cut back and contain it or ride the crest of the wave? (rhetorical question really... ).
Where exactly is the UK's next boom going to come from? It will take at least a generation to save it's way out of the debt it's currently in.Nothing will really change, we'll still have boom (too irresistible to politicians) and bust (unavoidable) as no-one (in power at least as well as half the population) wants to listen to the moderate view (seen as dull/negative). Instead we'll have this swinging backwards and forwards. They'll say "we've learnt the lessons" but when the economy booms again, will they say they'll cut back and contain it or ride the crest of the wave? (rhetorical question really... ).
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