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What keeps the modern economy going

Discussion in 'Speaker's Corner' started by humbug, Apr 1, 2019.

  1. humbug

    Caporegime

    Joined: Mar 17, 2012

    Posts: 29,581

    Debt Debt Debt...... if you want it you loan, your debtor wins, if you can no longer afford it your debtor takes everything you own and wins, if they run out of debtors they have them imported.....

    The modern economy is a Ponzi Scheme.

    https://youtu.be/p2yKyC8wVt8?t=466
     
  2. jsmoke

    Soldato

    Joined: Jun 17, 2012

    Posts: 6,891

    Yep.
     
  3. Tony Edwards

    Wise Guy

    Joined: Feb 4, 2018

    Posts: 2,075

    NVM
     
    Last edited: Apr 1, 2019
  4. Freakbro

    Capodecina

    Joined: Jul 29, 2010

    Posts: 14,317

    Location: Lincs

    If you would like an intelligent discussion on the basis of modern capitalism, free market economics, the fractional reserve banking system and money supply then you had better do a lot more reading to educate yourself and less watching of trite youtube videos.

    For an easy starter go and learn the difference between a debtor and creditor. Learning to spell Economy would be good to, oh and you import things over borders by the way.
     
  5. muon

    Capodecina

    Joined: Nov 8, 2006

    Posts: 17,373

    Location: London

    Who is this?
     
  6. chrismscotland

    Wise Guy

    Joined: Jul 16, 2009

    Posts: 2,130

    The first comment under that video is this "GET OUT OF CALIFORNIA AND ALL MAJOR CITIES. GROW YOUR OWN FOOD, STAY OUT OF DEBT, AND KEEP PLENTY OF AMMUNITION"

    I think that says it all about who its targeted at...
     
  7. Nasher

    Capodecina

    Joined: Nov 22, 2006

    Posts: 11,542

    Everyone is trying to push loans and debt now. People now take loans out for mobile phones ffs. It IS going to collapse again some point soon.
     
  8. terley

    Wise Guy

    Joined: Feb 3, 2010

    Posts: 2,026

    Black pigeon speaks is 50% trash conspiracy theories and 50% actual very good points.
     
  9. muon

    Capodecina

    Joined: Nov 8, 2006

    Posts: 17,373

    Location: London

    I don't understand. Who owns the debt? Who do people owe money to?
     
  10. muon

    Capodecina

    Joined: Nov 8, 2006

    Posts: 17,373

    Location: London

    If I haven't made it clear, we owe money to each other. That's what debt is.

    If you take a mortgage and owe the bank money, then you owe money to it's shareholders, which will be pretty much anyone saving for a pension, anyone with deposits in that bank etc.

    If I get a contract with Vodafone, then I owe Vodafone money. Who owns the publicly listed Vodafone? Some of it is probably me via pension assets.

    Debt is a zero sum game. It all cancels out. There are always two parties to debt.
     
    Last edited: Apr 3, 2019
  11. stockhausen

    Capodecina

    Joined: Jul 30, 2006

    Posts: 9,187

    Consumption.
     
  12. The_Abyss

    Capodecina

    Joined: May 15, 2007

    Posts: 10,719

    Location: Ipswich / Bodham

    Spelling.
     
  13. jsmoke

    Soldato

    Joined: Jun 17, 2012

    Posts: 6,891

    You need to keep borrowing/printing money, debt ceiling etc.
     
  14. muon

    Capodecina

    Joined: Nov 8, 2006

    Posts: 17,373

    Location: London

    Did you even understand what I said. Who are we borrowing from? Aliens?
     
  15. jsmoke

    Soldato

    Joined: Jun 17, 2012

    Posts: 6,891

    The Chinese or printing money.
     
  16. muon

    Capodecina

    Joined: Nov 8, 2006

    Posts: 17,373

    Location: London

    I'm not sure you understand how debt works. It is an obligation to pay something to someone.

    Chinese, fine at least they are real people. They are rather poor given you believe the entire world owes everything to them though.
     
  17. jsmoke

    Soldato

    Joined: Jun 17, 2012

    Posts: 6,891

    Is all debt backed by assets?
     
  18. The_Abyss

    Capodecina

    Joined: May 15, 2007

    Posts: 10,719

    Location: Ipswich / Bodham

    Fractionally, yes.
     
  19. Nasher

    Capodecina

    Joined: Nov 22, 2006

    Posts: 11,542

    Thing is the Chinese purposely keep their exchange rate low to keep exports flowing. If it starts to rise, they make more money to de-value it. Good for the multi-national millionaires but no one else.
     
  20. muon

    Capodecina

    Joined: Nov 8, 2006

    Posts: 17,373

    Location: London

    And the rest cancels out.

    I could owe you a £1m and you owe me £1m. That is supposedly £2m of debt.

    Either of us could sell that debt so that we end up oweing someone else.

    But it still cancels out.