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UK doomed by size of debts thread..

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    UK doomed by size of debts thread..

    Everyone Is Starting To Realize The Size Of Britain's Debt Crisis

    To put this into perspective, the USA’s private debt to GDP ratio peaked at 303% of GDP, and the rapid decline in this debt to its current level is what has caused its “Great Recession”. I never thought that another developed economy could make the USA’s debt bubble look trivial, but clearly I was wrong.


    Oh dear. Doesn't look good at all.
    Speaking gibberish on internet talkboards since last Michaelmas. Plus here on Twitter

    #2
    Nothing money printing can't solve:

    Comment


      #3
      Originally posted by AtW View Post
      Nothing money printing can't solve:

      But that finance debt includes an awful large amount of foreign banks lending money to foreign companies using British law for convenience.

      Those figures don't tally with the reality that there is only 1 large British bank that is not partially owned by the Government.
      merely at clientco for the entertainment

      Comment


        #4
        Originally posted by eek View Post
        But that finance debt includes an awful large amount of foreign banks lending money to foreign companies using British law for convenience.
        So that's all right then?

        If banks lend money then they have to borrow them from somewhere - when those foreign companies go bust the banks have to deal with loss of money in some way.

        Comment


          #5
          ..
          Last edited by Jeff Maginty; 8 June 2022, 17:45.

          Comment


            #6
            Originally posted by AtW View Post
            So that's all right then?

            If banks lend money then they have to borrow them from somewhere - when those foreign companies go bust the banks have to deal with loss of money in some way.
            But That is my point. The majority of the bank debt on that graph is not owed to our banks. Its owed to foreign banks which other governments (especially Germany) will have to bail out.

            You have to remember that the big German banks don't actually do much banking in Deutschland because quoting a senior person at Deutsche "the regulators there are backward clueless muppets".
            merely at clientco for the entertainment

            Comment


              #7
              Originally posted by eek View Post
              But That is my point. The majority of the bank debt on that graph is not owed to our banks.
              Do you have any evidence/reference to back it up?

              I would find it strange that UK banks would borrow lots of money from foreign banks and not actually invest it in some hot air tulip to make quick buck.

              Comment


                #8
                I was sitting round the dinner table today with a teacher, a retired lecturer, a social worker & 2 chartered accountants. When the subject of pensions and national debt reared its ugly head I was struck that there is actually no realisation from the public sector workers that there is a problem.

                When one accountant said to the teacher "you know there is no money anymore" the social worker insisted that he be allowed to retire at 50 on 60% of his final wage.

                Comment


                  #9
                  It shows that the UK is highly exposed to a European downturn.
                  Last edited by BlasterBates; 2 January 2012, 06:49.
                  I'm alright Jack

                  Comment


                    #10
                    Originally posted by minestrone View Post
                    I was sitting round the dinner table today with a teacher, a retired lecturer, a social worker & 2 chartered accountants. When the subject of pensions and national debt reared its ugly head I was struck that there is actually no realisation from the public sector workers that there is a problem.

                    When one accountant said to the teacher "you know there is no money anymore" the social worker insisted that he be allowed to retire at 50 on 60% of his final wage.
                    For a moment I thought you were going to work a rabbi and a priest into that.

                    A couple of guys down the pub the other day were talking about the end of the Mayan calendar and cashing in their pensions while the going is good. Whether you believe in this end of the world stuff or not, cashing your pension in to make sure it doesn't "disappear" doesn't seem such a bad idea, but if everyone does it, it's bound to lead to other problems.
                    Behold the warranty -- the bold print giveth and the fine print taketh away.

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