Greece Elections

Jokester · 13 Jul 2015 at 20:49

Naff8000 said:
A ponzi scheme is disguised as something else entirely. Everyone can see how much the UK owes, yet they still lend.

As long as they keep lending, there is nothing to worry about. It's when everyone tries and pays it all back with interest that we then have a serious problem.

John40 · 13 Jul 2015 at 20:49

The Greek civil service union is going on strike on Wednesday the day of the big protest in Athens.

glenimp617 · 13 Jul 2015 at 20:49

Jokester said:
As long as they keep lending, there is nothing to worry about. It's when everyone tries and pays it all back with interest that we then have a serious problem.

Judgement day

Freakbro · 13 Jul 2015 at 20:50

dowie said:
that happens when you run at a deficit... thus the need to cut it and try to get to the position where we're running at a surplus for a while

Which is meaningless apart from a political soundbite. We're aiming for what, a 3 Bn surplus (bear in mind we've only run a tiny surplus 5 out of the last 35 years) which if we kept that going, it would take us 500 years to pay off our debt....

Jokester · 13 Jul 2015 at 20:51

glen8 said:
debatable

It's true enough, it's really an anti-ponzi scheme. People using debt as a basis to create new debt.

Naff8000 · 13 Jul 2015 at 20:52

Jokester said:
As long as they keep lending, there is nothing to worry about. It's when everyone tries and pays it all back with interest that we then have a serious problem.

Investors will take all that into account yet still buy our debt at very low rates. Judgement day might come but it's not something I'm worried about any time soon.

glenimp617 · 13 Jul 2015 at 20:52

Freakbro said:
Which is meaningless apart from a political soundbite. We're aiming for what, a 3 Bn surplus (bear in mind we've only run a tiny surplus 5 out of the last 35 years) which if we kept that going, it would take us 500 years to pay off our debt....

so my 100-200 years was way off then

at some point, it will all implode

there's only so long you can keep this con going

V F · 13 Jul 2015 at 20:53

They all have lovely big numbers. http://www.nationaldebtclocks.org

glenimp617 · 13 Jul 2015 at 20:54

Jokester said:
It's true enough, it's really an anti-ponzi scheme. People using debt as a basis to create new debt.

It's become so complicated, I honestly don't think anyone in the world really understands what's going on.....well, if the last few months are anything to go by, I think that pretty much makes it crystal clear

glenimp617 · 13 Jul 2015 at 20:55

V F said:
They all have lovely big numbers. http://www.nationaldebtclocks.org

yep, proves my point entirely

Naff8000 · 13 Jul 2015 at 20:55

glen8 said:
It's become so complicated, I honestly don't think anyone in the world really understands what's going on.....well, if the last few months are anything to go by, I think that's pretty much makes it crystal clear

It's not difficult to understand. Complex derivatives on the other hand...

Jokester · 13 Jul 2015 at 20:56

Naff8000 said:
Investors will take all that into account yet still buy our debt at very low rates. Judgement day might come but it's not something I'm worried about any time soon.

One thing that should worry you is that in no time in its history has the BoE interest rate been so low, for so long. We're in unprecedented economic times.

glenimp617 · 13 Jul 2015 at 20:57

Naff8000 said:
It's not difficult to understand. Complex derivatives on the other hand...

then why aren't people listening, or doing anything about it (too late now for the unemployed greeks)

Jokester · 13 Jul 2015 at 20:57

glen8 said:
It's become so complicated, I honestly don't think anyone in the world really understands what's going on.....well, if the last few months are anything to go by, I think that pretty much makes it crystal clear

Nobody actually knows how the economy works.

glenimp617 · 13 Jul 2015 at 20:58

Jokester said:
We're in unprecedent economic times.

or another way of saying "we haven't a clue what were doing, or what's going on"

Pudney · 13 Jul 2015 at 20:58

glen8 said:
so my 100-200 years was way off then

at some point, it will all implode

there's only so long you can keep this con going

Our national debt is what, 350 years old? At its peak it was over 250% of GDP. Our current debt isn't anything to get excited by, certainly not your "doom and gloom" mindset.

glenimp617 · 13 Jul 2015 at 21:00

Pudney said:
Our national debt is what, 350 years old? At its peak it was over 250% of GDP. Our current debt isn't anything to get excited by, certainly not your "doom and gloom" mindset.

I'm not doom and gloom, just asked a question when the likely time would be that someone....somewhere comes clean about the entire mess of the world economy

It's safe to say, "it was a good idea which got out of hand" lol

dunker · 13 Jul 2015 at 21:03

who do we owe the money to?

glenimp617 · 13 Jul 2015 at 21:03

dunker said:
who do we owe the money to?

nobody knows

John40 · 13 Jul 2015 at 21:04

One thing has become very obvious and that is Germany is becoming very powerful and totally dominating Europe.

Nobody but nobody in Europe can stand against Germany.