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Inflation or default?

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    Inflation or default?

    Five years on, the Great Recession is turning into a life sentence - Telegraph

    The debt will have to be written off. Whether this done by inflation (1945-1952) or default (1930-1934) will be the great political battle of this decade. Pick your side. Pick your history.

    Poll to follow.

    Looks like savers are stuffed whatever.
    12
    Inflation
    50.00%
    6
    Default
    25.00%
    3
    I defaulted on payments for my andyw inflatable blow up doll
    25.00%
    3

    #2
    Originally posted by BrilloPad View Post
    Five years on, the Great Recession is turning into a life sentence - Telegraph

    The debt will have to be written off. Whether this done by inflation (1945-1952) or default (1930-1934) will be the great political battle of this decade. Pick your side. Pick your history.

    Poll to follow.

    Looks like savers are stuffed whatever.
    I was wondering when the doom would restart after the olympic break

    Comment


      #3
      It's going to be inflation init. Because most of the cash is owned overseas by foreigners who don't vote in UK elections.

      Comment


        #4
        Originally posted by KentPhilip View Post
        It's going to be inflation init. Because most of the cash is owned overseas by foreigners who don't vote in UK elections.
        And there are more feckless than careful who vote in the UK. I recjkon it is good to be feckless - in fact I might even start an online service for those who are not on the finer points of fecklessness.

        Comment


          #5
          On a serious note has anyone seen what happened to Iceland after their default, its not the doom and gloom that is going around the likes of Greece as their economy is only subject to their nation.

          Icelandic Anger Brings Debt Forgiveness in Best Recovery Story - Bloomberg
          Originally posted by Stevie Wonder Boy
          I can't see any way to do it can you please advise?

          I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

          Comment


            #6
            I've voted for default but in reality it's more complicated than this. In modern post-Lehman Bros economy there's no more deflation vs inflation but a constant financial repression, where interest rates are kept artificially low or even negative.

            The only possible outcome of this policy is either a long agonizing Japanese-style deflation (the lost decades) or a 3rd world style proper default.

            I root for the default because I have little paper money and I could survive decently for a few years selling my PM's, which will have skyrocketed by then.
            <Insert idea here> will never be adopted because the politicians are in the pockets of the banks!

            Comment


              #7
              Originally posted by SimonMac View Post
              On a serious note has anyone seen what happened to Iceland after their default, its not the doom and gloom that is going around the likes of Greece as their economy is only subject to their nation.

              Icelandic Anger Brings Debt Forgiveness in Best Recovery Story - Bloomberg
              Indeed. And they have even been able to borrow on the debt markets again.

              As atw has pointed out though, there is not a huge disparity in their import/export like there is a Greece : so it would take them longer to recover. But I reckon in a year Greece would be fine. And it worries the ECB that if they boot Greece out then after a year the other latin countries will form an orderly queue.

              Comment


                #8
                Inflation.

                Comment


                  #9
                  Default please

                  Back on the gold standard
                  Scrap the Bank of England

                  Everyone's life will be hell for a few years - many poor people and chavs will die

                  Then we're golden

                  Comment


                    #10
                    Originally posted by Robinho View Post
                    Default please

                    Back on the gold standard
                    Scrap the Bank of England

                    Everyone's life will be hell for a few years - many poor people and chavs will die

                    Then we're golden
                    But its very unfortunate for the poor people. The chavs no-one cares about.

                    Comment

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