The National Debt

[Irate Ian]

1. Is the country headed for Bankruptcy ?

We are 42nd of 43 in the debt league per capita compared with Gross Domestic Product.

Only USA below UK.


2. any ideas how are we ever going to reverse this trend ? or


3. Are we going to leave this problem for our chidren and future generations to deal with and to pay in their lifetimes for our over spending ?

 

[Lord Football]

We've had a national debt since 1508. I don't think reversing it is possible now!

The USA are below us. I'll start worrying when they go bust.

 

[Irate Ian]

We've had a national debt since 1508. I don't think reversing it is possible now!

The USA are below us. I'll start worrying when they go bust.

So what is your opinion in reply to Q1/3 ?

 

[Lord Football]

Your stats are wrong. Japan has the national debt much greater than ours, as does Italy.

If the UK were heading for bankruptcy it would really be the end of the capitalist system, because USA, Japan and Italy (plus others) would also be going down the swanny. So, no, I've no concerns that the country is in debt. It has been for 500 years without any problems, save a few squabbles between Parliament and King to fund the odd war in France, so I'll sleep happily in my bed knowing we wont to the dogs just yet.

 

[BrettieAngell]

At the end of the day there is no point worrying about it because there is **** all we can do about it!

 

[Lord Football]

At the end of the day there is no point worrying about it because there is **** all we can do about it!

We could rise up, throw of our chains, remove our oppressors from power and come up with a much better method of governing the country.

Sadly, everyone is far too busy watching Eastenders, so yeah, in reality you're spot on!

 

[BrettieAngell]

We could rise up, throw of our chains, remove our oppressors from power and come up with a much better method of governing the country.

Sadly, everyone is far too busy watching Eastenders, so yeah, in reality you're spot on!

:D

Viva la revolution!

 

[Irate Ian]

Your stats are wrong. Japan has the national debt much greater than ours, as does Italy.

If the UK were heading for bankruptcy it would really be the end of the capitalist system, because USA, Japan and Italy (plus others) would also be going down the swanny. So, no, I've no concerns that the country is in debt. It has been for 500 years without any problems, save a few squabbles between Parliament and King to fund the odd war in France, so I'll sleep happily in my bed knowing we wont to the dogs just yet.

Stats quoted by the BBC.

It is not the total of indebtedness, it is the per capita comparison with GDP

In short it refers to the net level of insolvency per person compared to our output.

 

[Irate Ian]

:D

Viva la revolution!

Come the revolution you'll take the first bullet then ?

 

[BrettieAngell]

Come the revolution you'll take the first bullet then ?

I was joking.

 

[Irate Ian]

I was joking.

Strangely enough, so was I & I'll take the 1st bullet for you !!

 

[Crabby Shrimper]

I Britain goes bankrupt, one thing's for sure. We'll need a massive sofa for the population to hide behind when the bailiffs turn up!

 

[Irate Ian]

I Britain goes bankrupt, one thing's for sure. We'll need a massive sofa for the population to hide behind when the bailiffs turn up!

Bankruptcy for a country is slightly different. Your currency reduces to having next to no value and no-one can afford to buy even the bare essentials of food. Loaf of bread £200 for example.

It is a doomsday scerario, the whole fabric of society as we know it would completely break down and anarchy would prevail.

Public services and security would fail and it would be like the wild west & survival of the fitest.

Bailiffs, or any form of law enforcement would not exist. Rule would be by gangs and urban policemen [malitia].

Is the doomsday legacy one which our chidren, or their chidren will inherit from us ?

 

[RobM]

That's exactly what is happening in Zimbabwe. Rampant inflation because the currency is worthless, similar to Germany in the 30's when people burnt money to keep warm, it was cheaper than buying coal.

 

[Irate Ian]

That's exactly what is happening in Zimbabwe. Rampant inflation because the currency is worthless, similar to Germany in the 30's when people burnt money to keep warm, it was cheaper than buying coal.

Correct and Mugabe started the rot by seizure of the white farmers land. Now they have no food, what a man of vision eh ?

No-one yet knows to what extent the world slump and depression might develop, but spending [or adding to the National Debt] our way out of it looking for the quick fix, might just be the worst move we have ever made in our history.

Worrying times. A 20's style world depression is not beyond the realms of possibility & who really knows where we are headed ?

Maybe Obama has some answers, but with 1M added jobless in past 3 mths, USA have their work cut out to reverse this decline and printing money will not be the answer IMO.

 

[Crabby Shrimper]

Bankruptcy for a country is slightly different. Your currency reduces to having next to no value and no-one can afford to buy even the bare essentials of food. Loaf of bread £200 for example.

It is a doomsday scerario, the whole fabric of society as we know it would completely break down and anarchy would prevail.

Public services and security would fail and it would be like the wild west & survival of the fitest.

Bailiffs, or any form of law enforcement would not exist. Rule would be by gangs and urban policemen [malitia].

Is the doomsday legacy one which our chidren, or their chidren will inherit from us ?

With the greatest possible respect, I was aware of that and it was a tongue incheek comment. I didn't really have visions of international bailiffs operating throughout the western world

 

[Irate Ian]

With the greatest possible respect, I was aware of that and it was a tongue incheek comment. I didn't really have visions of international bailiffs operating throughout the western world

When people say "With the geatest possible Respect" inclines me to believe insincerity, but will give benefit of doubt. Respect reciprocated.

Bit like never trust a person who says "Trust me" !!!

 

[Einstein]

Bankruptcy for a country is slightly different. Your currency reduces to having next to no value.

Would never happen. The tourism trade alone in the UK would still prop up the economy and provide the Sterling with more value than 75% of the other currencies in the world.

 

[Irate Ian]

Would never happen. The tourism trade alone in the UK would still prop up the economy and provide the Sterling with more value than 75% of the other currencies in the world.

In a world depression, tourism would surely not exist ?

 

[Napster]

but spending [or adding to the National Debt] our way out of it looking for the quick fix, might just be the worst move we have ever made in our history.

worked for Roosevelt