National debt
It's just all so sad. Government debt is simply deferred taxation for future generations. Simple as that. It is the refusal of those now to accept a reduction in living standards and reduces the living standards of those that follow.
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superfrank
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OMG do people still believe this MSM crap?! banking is what very nearly destroyed the financial system and ultimately will.steven1976 wrote:We have banking. So as much as everyone hates them, there is no easier or quicker way to bring money into the UK.
banking used to have a productive function, i.e. to lend to businesses to allow them to grow (after properly assessing the risk). now it is giant skimming operation on real economies while blowing up asset bubbles all over the place to get rich quick. the losses they incurred have essentially been transferred to nation states (via bailouts and extreme monetary + fiscal policy to stop the system imploding) which is why govt debt has gone thru the roof since 2008.
+1gazuty wrote:It's just all so sad. Government debt is simply deferred taxation for future generations. Simple as that. It is the refusal of those now to accept a reduction in living standards and reduces the living standards of those that follow.
Peter Schiff on the US economy - https://www.youtube.com/watch?v=iYYWEAr ... pXtOziiJU2
Much of what he says applies to the UK too IMHO.
Jeff
Much of what he says applies to the UK too IMHO.
Jeff
Cameron's claim about 'paying down' the national debt shown to be a sham: https://twitter.com/LabourEoin/status/5 ... 72/photo/1
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
is this the end game?
A mad, mad world as even the experts back the nuclear option of helicopter money
http://www.telegraph.co.uk/finance/econ ... money.html
the option of permanent monetisation of govt debt will be attractive to govts and banks alike and that's why I expect it will happen, and sooner rather than later.
there's no way that the trillions printed so far were ever going to be sold back to the market anyway, and it would require decades of continuous miracle growth to get govts back to "normal" debt levels with sound money.
history shows that when govts start printing, they never stop. QE4EVA
A mad, mad world as even the experts back the nuclear option of helicopter money
http://www.telegraph.co.uk/finance/econ ... money.html
the option of permanent monetisation of govt debt will be attractive to govts and banks alike and that's why I expect it will happen, and sooner rather than later.
there's no way that the trillions printed so far were ever going to be sold back to the market anyway, and it would require decades of continuous miracle growth to get govts back to "normal" debt levels with sound money.
history shows that when govts start printing, they never stop. QE4EVA