I'd imagine the goal and plan in Government and Whitehall is neither?
Poll: Poll: UK General Election 2017 - Mk II
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I'd imagine the goal and plan in Government and Whitehall is neither?
Doesn't ring a bell, i'll look him up, thanks
You'll definitely like him. Surprised you have not heard of him. He was/is a hot economic commodity at the moment.
Sorry, I was just being light hearted, no offence intended.
Satchef1 has explained the basics, but it's mainly about time, inflation, growth, debt to GDP ratio not just the total debt figure and controlling your own currency value that make it very different to simple household economics.
Simply put, in WW1 we borrowed, say, 1.5 billion pounds to fund the war, which was an enormous amount of money at the time. We don't actually pay that off, just service the interest, so the capital owed doesnt increase. ...which as long as growth outstrips inflation we can do easily. Fast forward to the present time (which we still do owe debts rolled over from the 1700's iirc) and 1.5 billion pounds is no longer a large amount of money, relatively, so is much easier to pay off.
Obviously macro economics are far more complicated than that, but that's my simple layman's understanding
Of course that doesn't mean would shouldn't care about debt, of course we should. Our current interest payments are eye watering but it doesn't mean we can't actually run a 'small' deficit every year. In fact some economic theory says running a surplus is inefficient
I see, that's much easier to grasp. It would seem that if you want to grow, you have to spend, and invest in your country and what it can offer to the rest of the world. The question is, how long can you grow until it all goes bang? From what you just said, it sounds like the whole economy is a Pyramid scheme until at some point we run out of room, and things to make/sell and then it's all over, everyone becomes poor and we are back to good old bartering.
I see, that's much easier to grasp. It would seem that if you want to grow, you have to spend, and invest in your country and what it can offer to the rest of the world. The question is, how long can you grow until it all goes bang? From what you just said, it sounds like the whole economy is a Pyramid scheme until at some point we run out of room, and things to make/sell and then it's all over, everyone becomes poor and we are back to good old bartering.
I think you've just bypassed the periphery and gone straight for the million dollar question while kicking the elephant in the room for good measure!
Yea....having a system that relies on continual growth to fund the ever growing debt with finite resources.....There could be a flaw in the plan somewhere
Well "the plan" and forecasts for Austerity have failed at every turn, those suggesting increased investment have been cast as idiots (despite historical/global precedents) and the IFS (you could virtually describe their formation as in opposition to Keynsian economics) put at the front and centre of "independent" advice but slowly it dawns on people that this is starting to look like an utter failure!
I think you've just bypassed the periphery and gone straight for the million dollar question while kicking the elephant in the room for good measure!
Yea....having a system that relies on continual growth to fund the ever growing debt with finite resources.....There could be a flaw in the plan somewhere
Finite resources is a tricky economic question, did we borrow to explore the potential of north sea oil, I have no idea but it sure isn't the same as my monthly credit card statement!
Deterrent against who?
Soldato
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It's just so illogical to say we want to hear the man say I will press the button.
Really poor show for the UK. Particularly given the appalling track record of May who has overseen huge cuts to police and is now making policy announcements on the supposed 'suspended day' that show we are going to have proper authoritarian control if she gets anywhere back near Westminster.
Really poor show for the UK. Particularly given the appalling track record of May who has overseen huge cuts to police and is now making policy announcements on the supposed 'suspended day' that show we are going to have proper authoritarian control if she gets anywhere back near Westminster.
I suppose it depends if the blazer wearing swivel eyed loons outnumber the young at the polling booths.
I don't think Corbyn's chances of success have anything to do with Corbyn TBH. The people that don't like him won't change their tune.
His support comes from a deep anger that many people across this country feel for an economy and a government that simply doesn't work for them. Despite the headlines, the Tories haven't actually dropped much in the polls. What's happened is the protest voters, the disenfranchised, the apathetic, have all flocked to Labour amid promises of a new economy.
His support comes from a deep anger that many people across this country feel for an economy and a government that simply doesn't work for them. Despite the headlines, the Tories haven't actually dropped much in the polls. What's happened is the protest voters, the disenfranchised, the apathetic, have all flocked to Labour amid promises of a new economy.
good grief - here we go again
deterrent for anyone else who at the time doesnt like us and has a collection of dusty nukes
Anyone? Now or in future.
Any nation state that would escalate to full war against us. If you think geopolitics couldn't change dramatically in a heartbeat you are sorely mistaken. Don't underestimate the potential outcomes of factors like just as an example sudden catastrophic economical collapse of a country like Russia. It doesn't have to start with a country deciding it is going to invade another.
Soldato
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How can you vote for this terrorist enabler ?
https://www.theguardian.com/uk-news...-findings-may-never-be-published-saudi-arabia
https://www.theguardian.com/uk-news...-findings-may-never-be-published-saudi-arabia
I can believe that, the problem is those people being bothered to vote. If I didn't think May would do untold damage over the next few years I would almost want her to win because whoever is in charge during brexit is going to get crucified at the next election.
Sorry, I was just being light hearted, no offence intended.
Satchef1 has explained the basics, but it's mainly about time, inflation, growth, debt to GDP ratio not just the total debt figure and controlling your own currency value that make it very different to simple household economics.
Simply put, in WW1 we borrowed, say, 1.5 billion pounds to fund the war, which was an enormous amount of money at the time. We don't actually pay that off, just service the interest, so the capital owed doesnt increase. ...which as long as growth outstrips inflation we can do easily. Fast forward to the present time (which we still do owe debts rolled over from the 1700's iirc) and 1.5 billion pounds is no longer a large amount of money, relatively, so is much easier to pay off.
Obviously macro economics are far more complicated than that, but that's my simple layman's understanding
Of course that doesn't mean would shouldn't care about debt, of course we should. Our current interest payments are eye watering but it doesn't mean we can't actually run a 'small' deficit every year. In fact some economic theory says running a surplus is inefficient, which is totally unlike personal economics
It's also worth noting that the Bank of England now owns 25-30% of our sovereign debt, bought up through QE. We're paying interest to ourselves on debts of hundreds of billions of pounds of debt. It's effectively debt that doesn't exist; it costs us nothing and will never be collected.
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