Discussion
If our government can pretend it's got loads more money than it actually has (my mum said lying was bad) why don't poor countries (Third World debt types) do the same and pay off their debts with pretend money?
Lots of countries pretending they've got more money than they actually have is unsustainable, right?
Lots of countries pretending they've got more money than they actually have is unsustainable, right?
Gargamel said:
Instead of wasting the time giving the money to the banks, why not take the £75bn and cut income tax down to 35% and 15% for a few years. Much greater impact and a vote winner too.
I never understand why they do not do this! It is a win/win situation - more tax revenue and overseas investors would flock here!Would it be because the EU wouldn't like it?
V8mate said:
If our government can pretend it's got loads more money than it actually has (my mum said lying was bad) why don't poor countries (Third World debt types) do the same and pay off their debts with pretend money?
Lots of countries pretending they've got more money than they actually have is unsustainable, right?
They can and do - in Zimbabwe it cost $25billion for a loaf of bread though.Lots of countries pretending they've got more money than they actually have is unsustainable, right?
Wurls said:
996c2 said:
Hurray, low interest rate/mortgage rate for at least another decade!
EFAIt really does feel like the prudent are being thoroughly hammered now.
Digga said:
Not being facetous here, but I've been putting some funds aside in order to buy another daft, secnond car - this is still PH even if we are on NP&E - but I'm really am now thinking of using MEW on my offset mortgage - at least the 'facility' (i.e. my previous, significant overpayments) won't get thieved if my bank goes tits up.
It really does feel like the prudent are being thoroughly hammered now.
Sound thinking, for a sensible daft car may hold value better than cash in a savings account anyway (GBP).It really does feel like the prudent are being thoroughly hammered now.
My current policy is to bring forward personal infrastructure spending (aswell as making my daft car dafter ).
Back on topic, the country must be on the edge of the debt-compound-spiral as I believe it is called, as the growth isn't enough to pay for the interest on the additional debt!
Gargamel said:
Instead of wasting the time giving the money to the banks, why not take the £75bn and cut income tax down to 35% and 15% for a few years. Much greater impact and a vote winner too.
ffs, the boe arn't giving the money to the banks, they are buying gilts = lending the money to the governmentGassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff