Extremely Scary Ticking Time-Bombs

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This topic contains 12 replies, has 7 voices, and was last updated by Profile photo of Anonymous Anonymous 4 years, 7 months ago.

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  • #56818
    Profile photo of angie
    angie
    Spectator

    ๐Ÿ™„ Take a look at this website:

    http://www.nationaldebtclocks.com/spain.htm or go to Google and click on the site. You can then click on each country’s debt clock.

    Clearly shows Spain’s debt, the UK’s is more scary, but, France has an eyewatering figure.

    Or for more graphic detail on the UK’s, go to http://www.debtbombshell.com

    As they said in Dad’s Army, ‘we’re doomed, we’re doomed’ ๐Ÿ™„

    Now, where do you put or invest your money, where is a financially safe place to live for your family and their children?
    Can the World get out of this mess that Governments and Banks/Regulators got us in to, the World’s civilised countries were too bloody greedy ? ๐Ÿ‘ฟ

  • #108686
    Profile photo of Anonymous
    Anonymous
    Participant

    @angie wrote:

    ๐Ÿ™„ Take a look at this website:

    http://www.nationaldebtclocks.com/spain.htm or go to Google and click on the site. You can then click on each country’s debt clock.

    Clearly shows Spain’s debt, the UK’s is more scary, but, France has an eyewatering figure.

    Or for more graphic detail on the UK’s, go to http://www.debtbombshell.com

    As they said in Dad’s Army, ‘we’re doomed, we’re doomed’ ๐Ÿ™„

    Now, where do you put or invest your money, where is a financially safe place to live for your family and their children?
    Can the World get out of this mess that Governments and Banks/Regulators got us in to, the World’s civilised countries were too bloody greedy ? ๐Ÿ‘ฟ

    If those figures where the only ones to take notion of we wouldn’t even have a problem.

    http://www.usdebtclock.org/ This one is a little bit more detailed. The US looks horrid in pure numbers but if you take into account for their wars and their high BNP it looks better “Still horrible though”. What’s interesting is that it took 200 years to reach the first 5 “trillion or billion?” and then just eight years to expand it to 16. That is what’s scary.

    If something happens to the financial markets I would be most worried about Ireland since they basicly own all of their banks via nationalisation. They have actually done a lot in cutting down costs and it would be horrible for them if that stupid decision would come back to haunt them.

  • #108688
    Profile photo of Chopera
    Chopera
    Participant

    The amount of national/public debt ain’t necessarily the problem. Here you can see the UK’s public debt in a more historical perspective:

    The slight uptick at the end doesn’t seem such a big problem does it?

    (of course if you included private debt, pfi debt, etc the graph might look a bit different)

  • #108689
    Profile photo of angie
    angie
    Spectator

    Ardun, I love that US Debt Clock link you posted, I feel I’m in a casino about to hit the jackpot, even my little brain can’t keep up with it ๐Ÿ˜†

    Can these debts ever possibly be paid off/overcome or will the World one day have to wipe the slate clean so to speak and start from scratch, or will another World War break out over money? ๐Ÿ™„

  • #108691
    Profile photo of peterhun
    peterhun
    Participant

    Japan. 73K euro per person, and a falling population.

  • #108696
    Profile photo of GarySFBCN
    GarySFBCN
    Participant

    If you click on this link, (within the link that Ardun posted), you will see that the US looks stellar compared to the UK, Germany, France, Portugal, Greece, Ireland, Italy and Spain.

    http://www.usdebtclock.org/world-debt-clock.html

  • #108699
    Profile photo of Anonymous
    Anonymous
    Participant

    I agree Angie, why doesn’t the world just wipe the slate clean? Return everyone to zero, wipe out all debt for everyone and every country from Gov, business, personal loans/mortgages etc.

    Those countries who function well will very rapidly start making money again. Those who have been running up massive debts would flounder unless they sort themselves out properly. Survival of the fittest?

  • #108700
    Profile photo of katy
    katy
    Spectator

    As someone who has always paid my way and never lived beyond my means I would object to this. What would happen to peoples investments? Just, sorry we are starting again so the people who have got into debt ad pissed away all their money can start with a clean sheet and the people who have been prudent also have to start again……it would all finish up the same again. Some people will always live beyond their means ๐Ÿ‘ฟ

  • #108702
    Profile photo of Anonymous
    Anonymous
    Participant

    @garysfbcn wrote:

    If you click on this link, (within the link that Ardun posted), you will see that the US looks stellar compared to the UK, Germany, France, Portugal, Greece, Ireland, Italy and Spain.

    http://www.usdebtclock.org/world-debt-clock.html

    Ireland scares me actually. Sure there is value in that debt but what happens if the house of cards starts falling together? 1242% external debt to gdp ratio. Yikes.

    That’s is like betting your nations future on that you are right….

  • #108704
    Profile photo of Anonymous
    Anonymous
    Participant

    As Katy stated it would actually be like rewarding people/nations for making bad decisions. Clearing all debts would also be like stealing from the people that have been prudent. We are actually doing this anyway by inflating our way out of these problems. Debt held in a country who controls their own monetary policies never actually have to be that afraid since they can just print themselves out of the mess. The problem is if they agree on loans in foreign currencies etc. Angie most of this debt could be removed by the snap of the fingers by the central banksters. Japans debt is basicly only held by it own population so they could by inflationairy meassures clear all debts in a micro second.

    I’m all for clearing certain debts for example many nations in Africa where some crazy dictator have taken the whole population as hostages. The lenders should never allowed this to happen and should morally/economically be punished for it. This can’t be said for most of the debts in the western world saddly. We can hate banksters all we want and many of them should be prosecuted but lots of the blame lies in ourselves.

    What people have noticed with the euro is that this same procedure can’t be done “because lots of countries share the same policies” which makes people question the euro because of that. Because of that sharing is why some countries could get lower interests on their loans though they didn’t deserve it and they just kept on spending. This is actually a great thing since it prohibits stealing from the ordinairy people in a greater extent.

    Historically the only way that national debts have skyrocketted is by wars. We have actually manage to do it by just wasting money on other things this time. Just look at the graphs and you will see that most of them top out after wars.

    Clearing debts or printing your way out of it has the same results as far as the debts influence on it’s populace. Since I’m in love with austrian economics I consider them both to be bad. We need sound money and with that we would automatically get our nations to become more responsible.

    Sadly enough democracy is what have empowered this whole process because politicians so easily can bribe their way into power by handing out freebies.

  • #108726
    Profile photo of angie
    angie
    Spectator

    We’ve always lived within our means and made investments that we wouldn’t want wiped out, (Gold maybe?), and would also object, but I don’t know if such a scenario would ever take place, the wiping out of all Country’s debt I mean could it be feasibly done?

    I certainly think wars have started for far less though ๐Ÿ™„

  • #108727
    Profile photo of Anonymous
    Anonymous
    Participant

    But haven’t so many people had their pensions just ‘wiped out’? That wasn’t their fault.

    I’m not saying that it’s the right idea but maybe it might become the only idea left? Why should a country or a bank have their debt wiped out and not individuals? It’s not right as it does go against all those who have lived within their means but then maybe when everyone is shown on these charts as an ‘individual’ owing money on behalf of their country why not just go back to zero for everything?

    As you say angie, wars have been started for less

  • #108729
    Profile photo of Anonymous
    Anonymous
    Participant

    @itsme wrote:

    But haven’t so many people had their pensions just ‘wiped out’? That wasn’t their fault.

    I’m not saying that it’s the right idea but maybe it might become the only idea left? Why should a country or a bank have their debt wiped out and not individuals? It’s not right as it does go against all those who have lived within their means but then maybe when everyone is shown on these charts as an ‘individual’ owing money on behalf of their country why not just go back to zero for everything?

    As you say angie, wars have been started for less

    People have had their money wiped out because we do not have sound money. With real sound money that couldn’t happen because of wasteful nations wouldn’t be in control of the monetary system. You could still loose money on bad investment though.

    Countries or banks doesn’t have their debt wiped out per say it’s only that their is no value “in the nations case they just make the debts worthless by ruining the currency so the lenders get back pieces of toilett paper” in the banks so the people has to become “owners” of the bank to secure the whole banking system. Or that’s at least what these people with vested interests have told the politicians. This sends the signals to the banks that no matter how bad they act they will always be bailed out.

    If you want to study an example that did the opposite of what the banksters and the experts wanted them to do then you should look at Iceland. They seem to be doing quite ok.

    Interesting article on Argentina. http://www.cato-at-liberty.org/krugmans-love-affair-with-the-kirchner-model-in-argentina/

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