The UK debt.

[enyam]

Printed money (QE) is the deficit?
Can you explain that?

Right your question,the printed money is to keep the economy going because we are spending more on the infrastructure than collecting revenue.

 

[enyam]

So far this year we've borrowed 65.5 billion pounds.

Thats been covered.

The Bank of England hasn’t managed anything quite on that scale but their latest creation of £75bn from thin air in an attempt to bolster the ever flagging UK economy has left many equally bemused.

 

[Norcon]

So far this year we've borrowed 65.5 billion pounds.

Thats been covered.

The Bank of England hasn’t managed anything quite on that scale but their latest creation of £75bn from thin air in an attempt to bolster the ever flagging UK economy has left many equally bemused.

So we just keep printing money to pay off the debt?

 

[joinerjohn]

So far this year we've borrowed 65.5 billion pounds.

Thats been covered.

The Bank of England hasn’t managed anything quite on that scale but their latest creation of £75bn from thin air in an attempt to bolster the ever flagging UK economy has left many equally bemused.

Cameron obviously put the spare 9.5 billion on Lucky Jim in the 3:30 at Newbury.

 

[enyam]

So far this year we've borrowed 65.5 billion pounds.

Thats been covered.

The Bank of England hasn’t managed anything quite on that scale but their latest creation of £75bn from thin air in an attempt to bolster the ever flagging UK economy has left many equally bemused.

So we just keep printing money to pay off the debt?

There is no mention of debt,when was the last time you heard any one say we owe £X amount of debt and this as to be paid back asap? Its about trying to keep the country going, if truth be told the Greeks and the rest of the pigs owe us vast amounts of money with no likely hood of of it being paid back, hence the need for the B of E to print more money.

 

[Norcon]

enyam wrote

There is no mention of debt

From the the post title....

The Uk debt

Also....

As a country, we've grown accustomed to living beyond our means. The Government's tax revenues are rarely enough to fulfill its generous spending promises, so every year Britain runs a large budget deficit. The money we can't raise from taxation needs to be borrowed, and as taxpayers, we're the guarantee on the loan. Every year, this budget deficit is added to our national debt.

Thats from the link I posted earler.

 

[enyam]

I was meaning from the markets or whoever we are supposed to be running the debt up with,as I said earlier the Governments aim is to reduce the deficit by half at the end of their five year term.They have made no mention of paying any debt so is there one,if you are printing money to buy your own treasuries who are you owing any money to, yourself.

 

[snico]

I dont think anyone here is actually qualified and has the expertise to make rash comments on the Uk debt.

Joe thinks we are in big trouble, according to financial experts and economists we are NOT in trouble.

People think the debt as a % of GDP is very high, it is actually at one of its lowest points in history!

Does the national debt that is thrown about include the pension liabilities etc, the government are not spending them so they shouldn't be included.

What % of the GDP are we paying in interest payments? what about public sector interest payments? The Debt the UK has is long term, not like Greece, Spain etc....we dont need huge bail outs quickly to cope so we are fine.


Our unemployment is not as high as Greece, Spain etc, they have high no growth, high government short term borrowing, massive deficit.....the UK will be fine.....dont listen to scaremongerers!

 

[Norcon]

People think the debt as a % of GDP is very high, it is actually at one of its lowest points in history!

What percentage is it?
And when was the high point?

 

[snico]

People think the debt as a % of GDP is very high, it is actually at one of its lowest points in history!

What percentage is it?
And when was the high point?

Its highest point was in the 50's where it was approx 240%

 

[Deleted member 63160]

I dont think anyone here is actually qualified and has the expertise to make rash comments on the Uk debt.

Joe thinks we are in big trouble, according to financial experts and economists we are NOT in trouble.

I doubt anyone really takes Joe seriously either on here or in real life.
He's just a guy shootin the breeze. Don't be hard on him.

 

[joe-90]

Time will prove me right - it always does. It's all in the mathematics.

 

[ABCwarrior]

None of it's real anyway, numbers in a big computer. Less than 5% of money actually exists, and as I believe the Bank Of England (a cartel of private banks who have control of our national currency like the Fed in the US) was actually nationalised after WWII...so, in theory it could abolish all the debt and start again.
The problem lies fairly and squarely with allowing these banks to control and issue the currency of ANY nation. This just shouldn't be allowed to happen. That's what the government should be doing, not sucking the bell-ends of the Rothschilds on their big yachts like George "O"....

 

[Alarm]

Time will prove me right - it always does. It's all in the mathematics.

Your Ego is certainly bigger than inflation!

 

[Space cat]

Someone asked about government lending --

That was me. I was suggesting that a government might initially raise more in taxes than it spent then lend the surplus out - just as a bank would - and collect the interest. This interest would then go part way to covering its costs and so taxes would be lower. In theory, if the government accumulated sufficient wealth of its own, the interest it collected would cover all its costs and we wouldn't have to pay any tax at all.

As far as I know, this has never been done (though it sounds like Jersey is part way there) so I suspect there might be a flaw in my logic. The problem is that I just can't find it.