TheDruid-3X3 Posted July 24, 2017 Share Posted July 24, 2017 They were saying that the UK was Finished in the 1980s and the UK is still around. Since then, the UK finished paying off if 'Lend/Lease' WW2 Debt to the USA and has not been doing too bad IMO. So knock it off with the Doom and Glooming! 3X3 1 Quote Link to comment Share on other sites More sharing options...
P.K. Posted July 24, 2017 Share Posted July 24, 2017 7 hours ago, TheDruid-3X3 said: They were saying that the UK was Finished in the 1980s and the UK is still around. Since then, the UK finished paying off if 'Lend/Lease' WW2 Debt to the USA and has not been doing too bad IMO. So knock it off with the Doom and Glooming! So knock it off with some exchanges now giving just €0.88 for every £1. Errrr OK........ Fortunately the dollar has weakened as well. Quote Link to comment Share on other sites More sharing options...
woolley Posted July 24, 2017 Share Posted July 24, 2017 1 hour ago, P.K. said: So knock it off with some exchanges now giving just €0.88 for every £1. Errrr OK........ Fortunately the dollar has weakened as well. Just change all your money to euros and ride the wave then, PK. You'll be laughing in a few years when the euro is the global reserve currency and sterling is worth less than the Malawian kwacha. Stop reading the effin Guardian ffs. Quote Link to comment Share on other sites More sharing options...
pongo Posted July 24, 2017 Share Posted July 24, 2017 (edited) Really beginning to notice the Brexit price increases now. Thanks to those who pushed for the stupid Brexit. The Brexit price increases we are seeing are their fault. All this talk of trade deals is so stupid. Britain currently has very effective international trade deals thanks to the EU - and especially and most importantly with the EU. There is no good reason to throw all of that away. The whole thing needs to be re-considered. Whatever Liam Fox says, a trade deal with the USA is hugely unlikely anytime soon - they won't open up financial services and Britain should not accept their Frankenstein food exports. Edited July 24, 2017 by pongo 3 Quote Link to comment Share on other sites More sharing options...
the stinking enigma Posted July 24, 2017 Share Posted July 24, 2017 I just wish they'd hurry it up so I can get some DDT for the rose bushes. 1 Quote Link to comment Share on other sites More sharing options...
P.K. Posted July 24, 2017 Share Posted July 24, 2017 1 hour ago, pongo said: Really beginning to notice the Brexit price increases now. Thanks to those who pushed for the stupid Brexit. The Brexit price increases we are seeing are their fault. Yes the price increaes are their fault but they wanted shot of Johnny Foreigner and their damn work ethic no matter what the cost! Sure it's an absolute bastard that we all have to pay the price for the xenophobic thick as pigshit Daily Wail reading Little Englanders but in their defence they were lied to by Farage, Gove, Johnson et al. In their tiny minds they got rid of Johnny Foreigner AND got back a massive wedge of cash for things like the NHS, Lambert and Butler, Sky Sports etc etc. To them it was a win / win..... 2 Quote Link to comment Share on other sites More sharing options...
pongo Posted July 24, 2017 Share Posted July 24, 2017 10 minutes ago, the stinking enigma said: I just wish they'd hurry it up so I can get some DDT for the rose bushes. 1 Quote Link to comment Share on other sites More sharing options...
pongo Posted July 24, 2017 Share Posted July 24, 2017 I also suspect some sort of witchcraft Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted July 24, 2017 Share Posted July 24, 2017 18 hours ago, TheDruid-3X3 said: They were saying that the UK was Finished in the 1980s and the UK is still around. Since then, the UK finished paying off if 'Lend/Lease' WW2 Debt to the USA and has not been doing too bad IMO. So knock it off with the Doom and Glooming! 3X3 Are you having a larf? http://www.economicshelp.org/blog/334/uk-economy/uk-national-debt/ Quote Link to comment Share on other sites More sharing options...
woolley Posted July 24, 2017 Share Posted July 24, 2017 Not really Albert. The constant banging on about the UK national debt ballooning to £1.7 trillion is a massive illusion. They choose to have it that way. What they never mention is that the total net worth of the country combining government, personal and corporate assets has risen even more dramatically from under £3 trillion to around £10 trillion since 1995. They could choose to tax that increase by more income, capital gains, sales or wealth taxes but they don't, they borrow instead which further fuels the national debt. Also, 75% of the UK government's debt is held by UK individuals and institutions anyway, so the whole thing is pretty incestuous. It's not like foreign bailiffs are at the door. https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/bulletins/nationalbalancesheet/2016estimates Even the money poured into the banking system during the financial crisis will end up showing a profit. The UK is indeed doing pretty well unless you are one of the unfortunates thrown onto the scrapheap of life. The national debt is largely voluntary but don't tell the plebs whatever you do. 1 Quote Link to comment Share on other sites More sharing options...
pongo Posted July 24, 2017 Share Posted July 24, 2017 (edited) Hmm. I agree with Wooley. Bank of England hands QE income to Treasury Money creation in the modern economy - this 2014 Bank of England publication surprised many people who still wrongly believe in the old fashioned "household budget" model of economics. It's fairly close to some of what Occupy were saying too. Carefully explaining how fractional reserve works in practice today, this document shows how moden money is effectively potentially an unlimited resource. It rather calls into question the idea that public spending cannot be afforded. There are some good points / reminders - even for people who already understand fractional reserve. It's not some new revelation - but the emphasis is interesting. ETA: the stuff about how money is destroyed is as interesting as the stuff about how money is created. You can see how this idea has been adapted by those who believe in MMT - which is based on these same exact principles but with govt itself directly creating and destroying money. IMO there is a strong case for government receiving a lot more of the profit created when banks create money by lending it. It's a national resource and weird that money creation is effectively private / for profit. Edited July 24, 2017 by pongo Quote Link to comment Share on other sites More sharing options...
P.K. Posted July 26, 2017 Share Posted July 26, 2017 On 24/07/2017 at 9:56 AM, woolley said: Just change all your money to euros and ride the wave then, PK. You'll be laughing in a few years when the euro is the global reserve currency and sterling is worth less than the Malawian kwacha. Stop reading the effin Guardian ffs. Actually for once back in January we figured out how many Euros we would need for 2017, added a bit and changed the lot. The more you exchange the better the rate you get however you take the risk that the £ will rise against the € before you get to use them. [Smug] With Brexit we figured that risk was about as miniscule as it gets.... [/smug] Quote Link to comment Share on other sites More sharing options...
woolley Posted July 26, 2017 Share Posted July 26, 2017 Fine so long as you don't leave it too long I'd say, PK. No way would I back the euro against sterling long term. 1 Quote Link to comment Share on other sites More sharing options...
P.K. Posted July 26, 2017 Share Posted July 26, 2017 29 minutes ago, woolley said: Fine so long as you don't leave it too long I'd say, PK. No way would I back the euro against sterling long term. Eh? We just got this years holiday dosh in one hit. Who do you think I am, George Soros??? 2 Quote Link to comment Share on other sites More sharing options...
woolley Posted July 26, 2017 Share Posted July 26, 2017 Well I had been wondering................ 1 Quote Link to comment Share on other sites More sharing options...
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