Are we really in as much debt as it's been made out.

Mark H said:
Completely agree, Labour will be slow down the repayment of debt and probably borrow more. Basically everything the conservatives have done and we have put up with to get the country on its feat again will be undone. Knowing labour they will come in again and sell our final gold reserves for euros..again.
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i guess by the time the tories have finished selling off the NHS etc there will only be the queen's gold left... which will be sold to 'cash4gold' outlets.

both parties are utter ****e. i find it laughable when someone ****s off one party when the other is just as useless.
 
I would like to see the UK net debt....I suspect that it is pretty insignificant comparatively. Also managed debt is not a bad thing, it is when it gets out of control that you have issues and the amount of debt is immaterial.
 
Chris [BEANS];22613984 said:
I'm sure they're not lying to us about our levels of debt, but it appears to me that there's a bit a scaremongering going on as to the effect it's having on us.

I personally am no better or worse off that I was two years ago, I don't personally know anyone who's unemployed or who is facing unemployment, and I live near the Bluewater shopping centre which is rammed seven days a week, as are all of the restaurants it houses both the cheap ones and the better ones.

There is talk at work that our pension scheme may be changed to something considerably worse, but so far that's just talk.
Personally I am completely unaffected by the problems in our economy so far.
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Well I'm pleased for you, But trust me it's real. I suppose it depends on your career, Up here in the North east the electrical trade has taken a right bashing and I'd say any of the other trades like it, Loads of guys struggling at the moment up here.
 
The issue with debt is that the transition from manageable and cost effective to unmanageable and nation-crippling is fast and unpredictable; as you borrow more, the cost of borrowing increases, which means you need to borrow more to fuel ambitions in the future equivalent to those today, which feeds itself again. You then have completely unaffordable borrowing with no hope of reducing it, which hits economic confidence, which reduces new investment and growth, which reduces your ability to pay the debt, which increases the amount you have to borrow... and so forth.

In the current economic climate where confidence is low it's wise to not overindulge. I do not think the markets would tolerate a "let us increase debt and go on a spending spree" approach to leaving the recession, and short of us retracting from the current global economic system the markets are what we are behest to.
 
Why don't these so called "bankrupt" countries just buys shares in Apple?? Surely they would get a good ROI (return of investing) off that so they can use it to pay the debt and start growth/confidence again?
 
ZG002 said:
Well I'm pleased for you, But trust me it's real. I suppose it depends on your career, Up here in the North east the electrical trade has taken a right bashing and I'd say any of the other trades like it, Loads of guys struggling at the moment up here.
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It’s always been the same in the NE, I love the NE it’s a place I call home but its why I had to leave. It’s always been first to suffer, last to recover. Whenever I go home to my folks Teesside gets more and more like a leisure area with the working people seemingly employed to entertain the non working :p

It’s the forgotten part of the UK tbh.
 
realBabelfish said:
i guess by the time the tories have finished selling off the NHS etc there will only be the queen's gold left... which will be sold to 'cash4gold' outlets.

both parties are utter ****e. i find it laughable when someone ****s off one party when the other is just as useless.
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The tories are not making it any better, but believe me, labour will make it much, much worse.
 
realBabelfish said:
i guess by the time the tories have finished selling off the NHS etc there will only be the queen's gold left... which will be sold to 'cash4gold' outlets.

both parties are utter ****e. i find it laughable when someone ****s off one party when the other is just as useless.
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I'll pull a Dolph on you here. Try and find the bit of the paper regarding NHS reforms which states it is being sold off. Labour had a massive piece of privatisation going on there where they let private hospitals contract back to the NHS...

Again everyone I think needs a lesson between debt and deficit. Running deficits leads to debt. The Conservatives aren't reducing the debt level, they are trying to remove the deficit: stop the debt increasing. Public sector spending has actually increased since the Conservatives took over. British Public debt is currently in the Trillions of pounds. Personal debt too is at an obscenely high level. I don't think the news articles were far off when they said each person in the UK owes roughly £200k if the government debt was per capita. That's before mortgages and such forth.
 
Castiel said:
I would like to see the UK net debt....I suspect that it is pretty insignificant comparatively. Also managed debt is not a bad thing, it is when it gets out of control that you have issues and the amount of debt is immaterial.
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It's over £1,000,000,000

However thanks to things like inflation the raw figure isn't so much the problem as the deficit. If we get rid of the deficit, our debt decreases by the nature of inflation (so long as we stay AAA credit rating anyway).
 
MrMoonX said:
its not even real money, the whole debt crisis BS is government propaganda for blaming everything on the poor and withdrawing social welfare, keep the bankers and tory party backers rich etc etc. in fact labour are just as bad, they are all as bad as each other.

what needs to change is the fact that the economic system of capitalism is broken
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in my opinion what needs changing is the system to promote MORE capitalism. Capitalism is great since...... anything else is much worse. Why does the UK give out some much in benefits that many are better off not working. Check out latest Economist articles for why the UK and Europe are bad for blossoming entrepreneurs, and articles related on why so many of the big firms are over in the U.S and not here. These bad growth figures keep adding up over time and do the math to see how that looks over 10 years.
 
Katsumoto said:
It's over £1,000,000,000

However thanks to things like inflation the raw figure isn't so much the problem as the deficit. If we get rid of the deficit, our debt decreases by the nature of inflation (so long as we stay AAA credit rating anyway).
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Is that not the raw figure rather than the net figure...I have never seen a net figure attributed to a nations debt as yet...any link would be welcome.
 
jsmoke said:
May as well post this, still trying to understand my economics, as some will know it's a complex subject. Anyone got any views on this?

http://www.redpepper.org.uk/countering-the-cuts-myths/
http://www.3spoken.co.uk/2012/08/the-uk-governments-rainy-day-fund.html
http://think-left.org/2012/08/18/what-is-george-osborne-playing-at/

Also on a slightly different angle here is a funny breakdown on the original cause of the debt crisis.


http://www.youtube.com/watch?feature=player_embedded&v=ZPWH5TlbloU
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Yes we are in debt, and not accidently, to cabal of globalist bankers that's mathematicly impossible to pay off.

To generate enough wealth to pay it off would leave us with out a planet because of the amount of resources we'd have to take.

Don't listen to the mainstream media as they only talk about solutions for the symptoms not the root cause. The documentary below called 'The Money Masters' explains it all. This video should mandortary viewing for anyone entering a voting booth.

 
A simple explanation;
http://www.economicshelp.org/blog/334/uk-economy/uk-national-debt/

I did laugh at the
'Total UK Debt – Government + Private
Another way to examine UK debt is to look at both government debt and private debt combined.
Total UK debt includes household sector debt, business sector debt, financial sector debt and government debt. This is over 500% of GDP.'

Don't worry about that one though :P It's just a fun figure IMO.
 
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