Inflation or default? Inflation or default?

View Poll Results: Inflation or default?

Voters
12. You may not vote on this poll
  • Inflation

    6 50.00%
  • Default

    3 25.00%
  • I defaulted on payments for my andyw inflatable blow up doll

    3 25.00%
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  1. #1

    I Am Legend

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    Default 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.
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  2. #2

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    Quote 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

  3. #3

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

  4. #4

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    Quote 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.
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  5. #5

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    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
    “Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods, but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones.”

    ― Marcus Aurelius

  6. #6

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    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!

  7. #7

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    Quote 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.
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  8. #8

    I live on CUK

    Old Greg is a fount of knowledge

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    Inflation.
    Quote Originally Posted by Bean
    I admit that I'm a lazy lying cretin, but so what?
    25 June 2018

  9. #9

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    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

  10. #10

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    Quote 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.
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