LongTimeLurker Posted March 17, 2015 Share Posted March 17, 2015 The UK will almost certainly NEVER be able to pay that off and will remain in debt forever. Without oil and gas the UK would be like Greece due to Gordon Brown's no more boom and bust incompetence. It doesn't make much difference who wins, because there is very little room for manoeuvre in fiscal terms. Link to comment Share on other sites More sharing options...
Kyle Posted March 17, 2015 Share Posted March 17, 2015 You think that this Sexy Scottish Socialism lad is Confidemus? Oh, Rob Och go away Greggy Wallace. Link to comment Share on other sites More sharing options...
Fide Posted March 17, 2015 Share Posted March 17, 2015 Och go away Greggy Wallace. ??? Link to comment Share on other sites More sharing options...
RedRob72 Posted March 17, 2015 Share Posted March 17, 2015 Backpeddling. Where is the evidence of this anti-English sentiment and does it justify the use of blatant anti-Scottish racism in the mainstream media? I'm fairly certain that I didn't use the term anti English racism nor did I condone or try and justify the anti Scottish pish that's written by some of the rags down south, not sure how that's backpeddling? All newspapers pander to their audience from the stance taken in their editorial to which letters they print. We are no different in Scotland. If that belief makes me craven and servile, then fair enough. They are just words that are spat out by your average rabid nationalist against anyone who remotely disagrees with them. It wasn't necessarily a criticism by myself or English friends living and working in Scotland either, just a view and acceptance that it exists to an extent. Link to comment Share on other sites More sharing options...
Kyle Posted March 17, 2015 Share Posted March 17, 2015 I'm fairly certain that I didn't use the term anti English racism nor did I condone or try and justify the anti Scottish pish that's written by some of the rags down south, not sure how that's backpeddling? All newspapers pander to their audience from the stance taken in their editorial to which letters they print. We are no different in Scotland. If that belief makes me craven and servile, then fair enough. They are just words that are spat out by your average rabid nationalist against anyone who remotely disagrees with them. It wasn't necessarily a criticism by myself or English friends living and working in Scotland either, just a view and acceptance that it exists to an extent. I'm yet to see an example of this 'anti-English sentiment' in our press. Plenty of roasters with an anti-English agenda in our country though, admittedly. Link to comment Share on other sites More sharing options...
Fotbawmad Posted March 17, 2015 Share Posted March 17, 2015 How can that work, though? i.e. being in debt in perpetuity, with interest accruing at sums that would make Wonga blush? My grasp isn't the best, tbh - I mean I'm guessing its a kind of "if you owe the bank £1000, it's your problem - owe them £1,000,000,000,000,000,000, and its *their* problem" deal - but having an entire countries debt be so eye-wateringly colossal just strikes me as being totally unsustainable, at least on a long enough timeline... While you have shown a degree of economic literacy beyond what 95% of people have. It's important not to get wrapped up in how big the national debt is, because at the end of the day it's just a number. What matters is how quickly it's rising or falling. However, as I keep pointing out with all these baby boomers starting to retire. That becomes a huge unfunded liability that can only be payed by more borrowing and will surely lead to a national crisis in one form or another. It doesn't matter who wins the next election, the people in power are going to be forced to make deeply unpopular decisions. Link to comment Share on other sites More sharing options...
P45 Posted March 17, 2015 Share Posted March 17, 2015 I'm fairly certain that I didn't use the term anti English racism nor did I condone or try and justify the anti Scottish pish that's written by some of the rags down south, not sure how that's backpeddling? All newspapers pander to their audience from the stance taken in their editorial to which letters they print. We are no different in Scotland. If that belief makes me craven and servile, then fair enough. They are just words that are spat out by your average rabid nationalist against anyone who remotely disagrees with them. It wasn't necessarily a criticism by myself or English friends living and working in Scotland either, just a view and acceptance that it exists to an extent. Who are you voting Rob? Link to comment Share on other sites More sharing options...
cdhafc1874 Posted March 17, 2015 Share Posted March 17, 2015 Fantastic, what a mess of an interview. Hosie comes across fantastically in the face of horrendous sneering and questioning. Who was that utter boot doing the "interview"? More rattled than Jackie Bird - says volumes that Hosie was basically laughing at her. Link to comment Share on other sites More sharing options...
Mr Bairn Posted March 17, 2015 Share Posted March 17, 2015 Whoa, some of the financial economic literacy in this thread is lacking, to say the least. One of the underlying assumptions to financial economic theory is that a large government like the UK or US will NEVER default. After all this debt isn't index-linked so if they wanted to pay it all off at once they'd literally just print enough money to do that. The only reason that isn't a feasible option is because it would cause Zimbabwe style hyperinflation Link to comment Share on other sites More sharing options...
Baxter Parp Posted March 17, 2015 Share Posted March 17, 2015 I'm fairly certain that I didn't use the term anti English racism nor did I condone or try and justify the anti Scottish pish that's written by some of the rags down south, not sure how that's backpeddling? All newspapers pander to their audience from the stance taken in their editorial to which letters they print. We are no different in Scotland. If that belief makes me craven and servile, then fair enough. They are just words that are spat out by your average rabid nationalist against anyone who remotely disagrees with them. It wasn't necessarily a criticism by myself or English friends living and working in Scotland either, just a view and acceptance that it exists to an extent. You said: "I've English friends in Scotland who have commented numerous times about the clear anti - English rhetoric and bias across our press over the years. It's always been there, what's new?" Now, where is the evidence of this clear anti-English rhetoric in our press? Either you can produce some or you're a lying scumbag. Which is it? Link to comment Share on other sites More sharing options...
FuzzyAffro Posted March 17, 2015 Share Posted March 17, 2015 How can that work, though? i.e. being in debt in perpetuity, with interest accruing at sums that would make Wonga blush? My grasp isn't the best, tbh - I mean I'm guessing its a kind of "if you owe the bank £1000, it's your problem - owe them £1,000,000,000,000,000,000, and its *their* problem" deal - but having an entire countries debt be so eye-wateringly colossal just strikes me as being totally unsustainable, at least on a long enough timeline... I don't know tbh, this is where it goes above my head. I just know that revenue for the UK government would have to increase by such a ridiculous proportion and be sustained at that increased level for such a ridiculously long time that it is impossible. The UK will never pay off its debt, it can't. Neither will the USA. All this austerity is just to get down the deficit, it hasn't touched the debt at all, which has doubled under the current government. Link to comment Share on other sites More sharing options...
strichener Posted March 17, 2015 Share Posted March 17, 2015 Whoa, some of the financial economic literacy in this thread is lacking, to say the least. One of the underlying assumptions to financial economic theory is that a large government like the UK or US will NEVER default. After all this debt isn't index-linked so if they wanted to pay it all off at once they'd literally just print enough money to do that. The only reason that isn't a feasible option is because it would cause Zimbabwe style hyperinflation So someone's literacy is debunked due to a theory? A theory which, is then utterly debunked in the the very same paragraph. Yep you are showing how economically literate you are. Link to comment Share on other sites More sharing options...
FuzzyAffro Posted March 17, 2015 Share Posted March 17, 2015 The UK and USA may not necessarily ever default as he says, though the USA very nearly did last year and the UK's credit rating has already been reduced. The point is there is literally zero prospect whatsoever of them ever being debt free again. Link to comment Share on other sites More sharing options...
Mr Bairn Posted March 17, 2015 Share Posted March 17, 2015 The UK and USA may not necessarily ever default as he says, though the USA very nearly did last year and the UK's credit rating has already been reduced. The point is there is literally zero prospect whatsoever of them ever being debt free again. The USA almost defaulted due to the republicans acting like crybabys. Had that happened it would have fucked up the way financial economics is taught. Link to comment Share on other sites More sharing options...
Fotbawmad Posted March 17, 2015 Share Posted March 17, 2015 The UK and USA may not necessarily ever default as he says, though the USA very nearly did last year and the UK's credit rating has already been reduced. The point is there is literally zero prospect whatsoever of them ever being debt free again. The USA was never going to default. All that "debt ceiling" stuff is just for show. Just so some politicians can point score over each other. These credit rating agencies mean nothing. They are highly politicized and are hardly credible when they gave pre-crisis sub-prime loans AAA ratings. The biggest problem the USA has is a future run on the dollar. Making their currency worthless in the eyes of the world. Link to comment Share on other sites More sharing options...
FuzzyAffro Posted March 17, 2015 Share Posted March 17, 2015 Not for economic reasons, it wasn't out of necessity. It was political the Republicans were prepared to push the country into default, they are that crazy. As for the sub-prime issue every major bank in the world bought into that so I don't think it undermines credit ratings agencies especially. The UK certainly isn't particularly credit worthy anymore given it is in astronomical amounts of debt and makes virtually nothing of any value anymore. Link to comment Share on other sites More sharing options...
strichener Posted March 17, 2015 Share Posted March 17, 2015 The UK and USA may not necessarily ever default as he says, though the USA very nearly did last year and the UK's credit rating has already been reduced. The point is there is literally zero prospect whatsoever of them ever being debt free again. Both the UK and USA have defaulted in the past. Link to comment Share on other sites More sharing options...
FuzzyAffro Posted March 17, 2015 Share Posted March 17, 2015 Have they? I honestly didn't know that, but assumed Mr Bairn on previous page knew what he was talking about when he said financial systems are dependent upon them never defaulting. Link to comment Share on other sites More sharing options...
H Wragg Posted March 17, 2015 Share Posted March 17, 2015 @GdnPolitics: 51 days to go - our latest projection: CON 277 seats LAB 269 SNP 53 LDEM 25 UKIP 4 GRN 1 http://t.co/QHx89sNbkF http://t.co/eMNenEv3ID Link to comment Share on other sites More sharing options...
Kyle Posted March 17, 2015 Share Posted March 17, 2015 As fun as it would be, there's absolutely no chance the SNP are claiming 53 seats. 45 is the absolute ceiling IMO. Link to comment Share on other sites More sharing options...
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