Arbtalk 2015 General Election Poll

[Mountain man]

I agree TVI, we're in danger of becoming a nation of merchants

 

Not new, Napoleon called us a nation of shopkeepers.

It's always been about money "it's the economy stupid"

[skyhuck]

Your forgetting the 1 key thing; the money supply has been privatised. Under the current system It is impossible to pay back the debt, the debt will only keep on growing, your children and your children's children add infinitum are doomed to suffer austerity no matter what you or I do. The point is, you are not supposed to pay back the debt. The debt is the means of control, the control of everything. You really DO need to understand properly what Iceland have done.

 

Oh dear!! Do I need my tinfoil hat??????

[GreenGui]

Oh dear!! Do I need my tinfoil hat??????

 

No you just need to do some research instead of believing what you are told by the "idiot box" and the papers.

[skyhuck]

No you just need to do some research instead of believing what you are told by the "idiot box" and the papers.

 

Here we go, so you believe the banks produce their own money???

[Tom D]

I'd have to check the figures but as I understand it the borrowing cost for the UK are at, or near, all time lows of around one percent, so we don't have a crisis. At some point I would expect politicians to increase taxation, but not before a election!

 

One percent of what? GDP? maybe but GDP is effectively the "turnover" of the entire country, and as all of us business owners Turnover means nothing.

 

The important thing is as Skyhuck says we are currently spending more than the defence budget on interest payments on the national debt.

 

To put 1.6 trillion (the national debt) in context:

 

Imagine we payed it off at £1 every second.

1 million seconds is :11days, 13hours, 46 min, and 40 sec .

1 billion seconds is :31 years and about 9 months.

1 trillion seconds is :31,700 years.

 

So our 1.6 trillion pound debt would take 50,720 years to pay off at a rate of £1 a second.

 

Still think its affordable?

[Two Acres]

Oh dear!! Do I need my tinfoil hat??????

 

Surely its no tin hat required Skyhuck - seems like a friendly and reasonable exchange of views to me

[skyhuck]

Surely its no tin hat required Skyhuck - seems like a friendly and reasonable exchange of views to me

 

You misunderstand me

[Two Acres]

One percent of what? GDP? maybe but GDP is effectively the "turnover" of the entire country, and as all of us business owners Turnover means nothing.

 

The important thing is as Skyhuck says we are currently spending more than the defence budget on interest payments on the national debt.

 

To put 1.6 trillion (the national debt) in context:

 

Imagine we payed it off at £1 every second.

1 million seconds is :11days, 13hours, 46 min, and 40 sec .

1 billion seconds is :31 years and about 9 months.

1 trillion seconds is :31,700 years.

 

So our 1.6 trillion pound debt would take 50,720 years to pay off at a rate of £1 a second.

 

Still think its affordable?

 

Its a one percent of the debt interest rate. Again its not what I think is affordable for the UK, thats decided by the financial markets. If they considered our national debt unsustainable then we'd find that interest rate climbing rapidly, as others did (e.g. Greece, Spain, Portugal).

[GreenGui]

Here we go, so you believe the banks produce their own money???

 

 

Yes, completely. Do you know what quantitive easing is??? It's not backed by gold. Clue, its backed by debt - the debt our childrens childrens childrens are going to be paying off. Alternatively read up on 'Ponzi' schemes, its what the whole system is based on.

 

I should have added, its been that way of quite a while but all the time we had a system based on continual growth it was invisible. Now we are in a period of prolonged contraction it has become obvious.

Edited April 3, 2015 by GreenGui

[Two Acres]

You misunderstand me

 

Oh, sorry