The Future of Britain - Impending Doom?

[Bubbs]

Just watched this: https://www.youtube.com/watch?v=UdyQd6Xks7A

It's an hour long but is incredibly interesting. Basically explaining how we are on the brink of a major depression which will include the Government raping us of all our wealth to pay back loans etc.

Snippet:

It explains how Cyprus as a country owed 300% of it's GDP and it kept borrowing as the Interest over time continued to stay low... but eventually the trend turned and the money needed repaying which mean the interest shot up... This led to the government drastically trying to come up with ideas on how to sort out the debt... I'm sure you all saw and heard about what happened in Cyprus as a result!?

This also happened to Argentina who owed a similar percentage of it's GDP (circa 300%)

The UK currently owes 900% of it's GDP.. and we could well be on the brink of disaster.

What are your thoughts?
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[Rogerborg]

Eh, we'll be fine as long as we keep doing the Rothschild-Lizard-Jews' bidding and invade... oops.
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[Tungtvann]

I am hoping for impending financial doom in this country.

[Lord Percy]

I stand by the 'Interesting' upvote that I've just given...

BUT

Skip to anything beyond the halfway point of the vid, and you'll see it's just a massive, scaremongering, hysteria-inducing ADVERT for the magazine who created it.

It made interesting points, but frankly now I'm pissed off at how much of a cheap shot it was. They just want you to buy their magazine.

[Bubbs]

[Pigeon]

While the BoE can print, I'd be surprised if they steal directly such as the bail-in from Greece.

Yes legally they can do it, but printing and devaluing is socially more acceptable form of theft.

[fatpies]

The killer is that at 0.5% interest rates, we have to pay 60bn in debt interest. Now consider the total tax take is only 450bn.

If interest rates go to a mere 4% we pay more debt interest than taxes taken.

Can't happen won't happen?

There is a bloke called George Soros, he broke the back of the bank of England in the 1990s.

The government raised interest rates to defend the £. Except we can't do this, the government is pulling a ruse of printing money, which never works. Works for the USA because of the petrodollar and US military.

As a society we painted ourselves into a corner.

With 50% of GDP being government spending, if the government cuts spending, GDP collapses, and debt is a bigger % of GDP, meaning blokes like Soros force an interest rates move.

If taxes are raised, less taxes are taken, meaning even more has to be borrowed and debt is a bigger % of GDP.

Yet if you keep spending (i.e. borrowing more) is means debt becomes a bigger % of GDP and you spend more of your output on debt interest.


Thus the government has chosen to welch on its debts by printing money. Which is why living standards are back to 2001 levels.
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"It's easy to attack and destroy an act of creation. It's a lot more difficult to perform one"

[fatpies]

[mr jamez]

The BBC had a story on the other day about strong and encouraging signs in the economy, an ice cream vendor was doing good business and has expanded by buying another ice cream van.

Now if that is the best example they can find to contend with the 'doom mongering'...
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[ThoughtContro...]

[_Will_]

A reset should have happened back in 2008, all the gov did was the equivalent of pay day loans, making the eventual economic crash much more of an issue, fucking over the sensible people in the process whilst temporarily rewarding chancers and speculators.

All Ponzi schemes end in tears, eventually.
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[fatpies]

[Tungtvann]

So like, I shouldn't buy a house soon?

[Pigeon]

[BakesBeans]

Ok, just watched the advert for MoneyWeek. It does raise good points, but misses many others.

Firstly the 900% debt is unfair, because it includes liabilities that it does not yet have to pay (ok, an issue but it is not yet a debt). Also, financial sector debt is extremely high because London is one of the hubs for global finance.

Although, I do agree with the message - and the mega bust is coming.

What you also have to look at is those previous country crisis generally happened in isolation to the rest of the world. Whereas today, yes the UK up to it's eyes in debt, but who isn't? What you have to watch, imo, is the USA where it appears they are coming out of recession.

Also, the Tory's have thrown the last dice with the housing market - home buy lending, which to any sane person, will end in tears.

The last hurray is coming, but it's still a few years away imo, remember the market can be irrational longer than you can stay solvent.
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[Lord Percy]

[_Will_]

[Skudd]

[ThoughtContro...]

[fatpies]

[ThoughtContro...]

pies it was a poor attempt at sarcasm. Bernanke has been mumbling about "tapering", maybe their printer is running out of toner?
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"In a world of universal deceit telling the truth is a revolutionary act" - George Orwell

[smegballs]

[ThoughtContro...]

[unitynotsocri...]

Goverments had the choice , lots of choices , but generally to bail out the banks......the ones responsible for the debt , and put the bill on the taxpayers/citizens....or...

write off the debt which would be really good for most of us in the long term , but , unfortunatley would have dissolved the economic and political power of the tax avoiding minority .

By bailing out the banks , we've ensured that capitalism is dead ...its national socialist capitalism now , where all big goverment contracts go to their chums , like G4 , serco , NHS landlords , Defence , Trident etc......Vodaphone , Boots , Google and all the other tax avoiders and squared fellows well met rob the taxpayers by profiting out of semi quasi privatised multibillion pound companies.

A big problem for uk.plc ltd is that the financial sector, and service sector , is such a big part of the UK economy that it has allowed succesive goverments to completley distort the national wealth figures ...while manufacturing and jobs have left .

Capitalists are not usually known for their loyalty to their country.

Mr Morris refused to turn his factories over to war production in ww2 unless he made a clear profit .
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[owl10]