Government Debt, QE and printing money.
Discussion
Can someone clarify for me what the f*** goes on with world finance please?
If the UK Government has £2 trillion where does the government get the money from? I read it borrows money from China and banks but the government prints money to give to the banks.
Does the government print money to give to banks and borrow back?
If the UK Government has £2 trillion where does the government get the money from? I read it borrows money from China and banks but the government prints money to give to the banks.
Does the government print money to give to banks and borrow back?
https://news.sky.com/story/government-forced-to-ma...
Magic money tree needs paying back, unfortunately.
7.6 billion to service debt, another record the Tories have set. Doubling the debt to over 2 trillion in 10 years is another.
Magic money tree needs paying back, unfortunately.
7.6 billion to service debt, another record the Tories have set. Doubling the debt to over 2 trillion in 10 years is another.
Ouroboros said:
https://news.sky.com/story/government-forced-to-ma...
Magic money tree needs paying back, unfortunately.
7.6 billion to service debt, another record the Tories have set. Doubling the debt to over 2 trillion in 10 years is another.
But if you think what Blair/Brown managed to do to the economy during a Rainbow period, just imagine what they could achieve during a pandemic, that caused GDP to fall nearly 20% overnight.Magic money tree needs paying back, unfortunately.
7.6 billion to service debt, another record the Tories have set. Doubling the debt to over 2 trillion in 10 years is another.
During the Great Depression it only fell 10%.
Spain’s inflation rate was 9.2% in March - that had nothing to do with the Tories handling of the economy.
rdjohn said:
But if you think what Blair/Brown managed to do to the economy during a Rainbow period, just imagine what they could achieve during a pandemic, that caused GDP to fall nearly 20% overnight.
During the Great Depression it only fell 10%.
Spain’s inflation rate was 9.2% in March - that had nothing to do with the Tories handling of the economy.
Debt has risen from 40-99% of GDP, 1 trillion to now 2.3 trillion, under Tory rule. It is a massive stretch to blame labour.During the Great Depression it only fell 10%.
Spain’s inflation rate was 9.2% in March - that had nothing to do with the Tories handling of the economy.
Let's get real,paying nearly half a trillion for people not to work, when debts were so high was a bad choice. No one really cared as you are paying people to do nothing no one will moan.
I heard a Tory MP today saying we will grow the economy then tax increases will pay it back, that is proper deluded. You are looking at over 100+ billion a year just to pay interest on these debts.
These debts will never get paid back the young generation will be stuck with these , you can't write checks now on the future profits, that is what Enron did and we know how that worked out.
Edited by Ouroboros on Friday 24th June 09:33
Ouroboros said:
Debt has risen from 40-99% of GDP, 1 trillion to now 2.3 trillion, under Tory rule. It is a massive stretch to blame labour.
Let's get real,paying nearly half a trillion for people not to work, when debts were so high was a bad choice. No one really cared as you are paying people to do nothing no one will moan.
I heard a Tory MP today saying we will grow the economy then tax increases will pay it back, that is proper deluded. You are looking at over 100+ billion a year just to pay interest on these debts.
These debts will never get paid back the young generation will be stuck with these , you can't write checks now on the future profits, that is what Enron did and we know how that worked out.
Your great great grandkids will still be paying it back! But pretty much every country in the world are in a similar position after the pandemic. It was expensive. Let's get real,paying nearly half a trillion for people not to work, when debts were so high was a bad choice. No one really cared as you are paying people to do nothing no one will moan.
I heard a Tory MP today saying we will grow the economy then tax increases will pay it back, that is proper deluded. You are looking at over 100+ billion a year just to pay interest on these debts.
These debts will never get paid back the young generation will be stuck with these , you can't write checks now on the future profits, that is what Enron did and we know how that worked out.
Edited by Ouroboros on Friday 24th June 09:33
BoRED S2upid said:
Your great great grandkids will still be paying it back! But pretty much every country in the world are in a similar position after the pandemic. It was expensive.
not all countries.A lot of European countries have had high debt, but the UK has taken it's debts from 40-50% to 100% in less than 10 years.
it is surprising no one really cares or that bothered in the UK, manana as the spanish say..
Still get people sating Labour magic money tree, i can only guess people are just deluded. The T tory rule has not done the cuts as needed/promised and spent spent spent. It was nearly 2 trillion before CV19 hit.
The Tories did cut but perhaps not enough but then no-one was a fan of austerity. The Covid budget was bananas but a lot of it was motivated to try and stop the NHS from collapsing
It was always coming , many on here were concerned by the amount of QE that was happening in the US and over here , they didnt understand the impact and how that money now needs to be paid back and its only coming from one place - taxation
Going to get a lot lot worse before it gets any better
It was always coming , many on here were concerned by the amount of QE that was happening in the US and over here , they didnt understand the impact and how that money now needs to be paid back and its only coming from one place - taxation
Going to get a lot lot worse before it gets any better
liner33 said:
The Tories did cut but perhaps not enough but then no-one was a fan of austerity. The Covid budget was bananas but a lot of it was motivated to try and stop the NHS from collapsing
It was always coming , many on here were concerned by the amount of QE that was happening in the US and over here , they didnt understand the impact and how that money now needs to be paid back and its only coming from one place - taxation
Going to get a lot lot worse before it gets any better
They should have just whacked tax up straight after covid. Most would have expected it. It was well known how costly it was. It was always coming , many on here were concerned by the amount of QE that was happening in the US and over here , they didnt understand the impact and how that money now needs to be paid back and its only coming from one place - taxation
Going to get a lot lot worse before it gets any better
BoRED S2upid said:
They should have just whacked tax up straight after covid. Most would have expected it. It was well known how costly it was.
amazon doubled sales, they said there would windfall taxes, yet never happened.I actually think politics need to change, more longer strategy and limits of debts and spending by all parties. Because who ever takes over next, is f
ked.Ouroboros said:
BoRED S2upid said:
They should have just whacked tax up straight after covid. Most would have expected it. It was well known how costly it was.
amazon doubled sales, they said there would windfall taxes, yet never happened.I actually think politics need to change, more longer strategy and limits of debts and spending by all parties. Because who ever takes over next, is f
ked.It’s already been mentioned the money spent will have a ripple effect across generations and not for the better.
The current route governments are taking is to 'save' everything, as the consequences of not doing so seem unpalatable.
What is not yet 100% known is what the long term effects of it all are, ie if they did an energy furlough and so the rises 'cost' us nothing, that would feel like a win for us all, but its a false win? or at least feels like it should be, you can't have something for nothing can you? seems so....for a time.
What is not yet 100% known is what the long term effects of it all are, ie if they did an energy furlough and so the rises 'cost' us nothing, that would feel like a win for us all, but its a false win? or at least feels like it should be, you can't have something for nothing can you? seems so....for a time.
https://www.ft.com/content/e23c6d04-659d-11de-8e34...
This was an article from 13 years ago! so perhaps not much will change for another 13 years, or perhaps a lot will change in 13 months!
This was an article from 13 years ago! so perhaps not much will change for another 13 years, or perhaps a lot will change in 13 months!
Ouroboros said:
BoRED S2upid said:
They should have just whacked tax up straight after covid. Most would have expected it. It was well known how costly it was.
amazon doubled sales, they said there would windfall taxes, yet never happened.I actually think politics need to change, more longer strategy and limits of debts and spending by all parties. Because who ever takes over next, is f
ked.A month ago they were all out pulling them all out and planting summer stuff.
All the old tulip bulbs etc were thrown (worthless lol), last time they were asked.
Then it seems every other day in summer someone is out watering them.
Then at certain times of year people walk around with two stroke leaf blowers before all the leaves are down.
No brushes, but ICE blowers causing a din and pollution.
This is just one tiny slither of our system of people doing f
k all of value given what’s happening out there, likely at high cost, and with pensions totting up etc.Imagine how much money you could save just sacking all these people and giving local people/communities grants to do their own flowers?
Sweeping up their own leaves?
Then all those people could be given jobs doing something valuable, like rebuilding roads to a decent standard to last decades, rather than refilling the same old s
t road.Build back better.
Remember “education education education”?
It’s all just the same turd repackaged in posh glittery wrapping paper. And each time we all think we’re getting a fancy gift.
But no, it’s still just a big turd.
The only winners are those in ‘power’ not doing a good job, but just getting paid year on year, decade on decade.
A good career if you ignore the fact they’re in a job of governance and should be held to much higher standards.
Ouroboros said:
not all countries.
A lot of European countries have had high debt, but the UK has taken it's debts from 40-50% to 100% in less than 10 years.
it is surprising no one really cares or that bothered in the UK, manana as the spanish say..
Still get people sating Labour magic money tree, i can only guess people are just deluded. The T tory rule has not done the cuts as needed/promised and spent spent spent. It was nearly 2 trillion before CV19 hit.
Cost of covid by countryA lot of European countries have had high debt, but the UK has taken it's debts from 40-50% to 100% in less than 10 years.
it is surprising no one really cares or that bothered in the UK, manana as the spanish say..
Still get people sating Labour magic money tree, i can only guess people are just deluded. The T tory rule has not done the cuts as needed/promised and spent spent spent. It was nearly 2 trillion before CV19 hit.
UK £412b
France £490b
Italy £750b
Germany £1.2T
Say no more.
Mr Whippy said:
This is just one tiny slither of our system of people doing fk all of value given what’s happening out there, likely at high cost, and with pensions totting up etc.
Last week at about 11am three vans arrived outside my house to do something - broadband I think. There must have been about eight blokes in orange jackets. They got out, had a chat, then I heard one of say 'Let's go down the burger van and have lunch'. They cam back about four hours later. And how much is each one of those earning?k all of value given what’s happening out there, likely at high cost, and with pensions totting up etc.Roadworks... from the wheelbarrow in the road with 200 yards of cones round it and a 3-way stop system causing mayhem when they could put the wheelbarrow on the verge. The miles of dual carriageway with 40mph average speed cameras and nothing happening. But it happens - I suppose because some law says it must. It's all a vast cost to the country, not just in manpower - there are crops to pick - but knock-on effects of everybody else's time wasted, missed appointments, extra fuel used etc. I believe a country can 'legislate itself to death' - and we can't be far off. My hope is that freedom from the EU can reduce the burden; we shall see.
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