MazzyStar Posted February 5 Share Posted February 5 Just now, Shadow Play said: Can I ask where you got that information from. Are there any articles from reliable sources I can read about this school of thought? It was revealed to me in a dream. 5 Quote Link to comment Share on other sites More sharing options...
Silvio Tattiescone Posted February 5 Share Posted February 5 1 minute ago, MazzyStar said: It was revealed to me in a dream. An entirely rational method of devising fiscal policy. 1 Quote Link to comment Share on other sites More sharing options...
Sergeant Wilson Posted February 5 Share Posted February 5 (edited) It won't affect me. However, if it did I will apply my usual procedure of decreasing my effort in line with any increase in pension age or real reduction in pay. I can still do a lot less and could eventually reach negative net contributions. Edited February 5 by Sergeant Wilson 3 Quote Link to comment Share on other sites More sharing options...
MazzyStar Posted February 5 Share Posted February 5 Just now, Newbornbairn said: An entirely rational method of devising fiscal policy. More rational than anything your average economist shits out. 0 Quote Link to comment Share on other sites More sharing options...
BFTD Posted February 5 Share Posted February 5 Surely it's time to ransack the coffers of codgers like @Granny Danger so we can all be miserable together. My old man just told me that he's worried about Labour getting in at the next election and stealing all his money, so why not. 0 Quote Link to comment Share on other sites More sharing options...
gannonball Posted February 5 Share Posted February 5 71 is utterly mad. My parents are late 60s and the idea of either of them having an to work full time still at that age just doesn't sit on right with me. One doesn't drive now and the other I often question if they are still mentally capable of driving when I get a lift. I'm not sure what exactly they are meant to offer to the workplace. 0 Quote Link to comment Share on other sites More sharing options...
Honest Saints Fan Posted February 5 Share Posted February 5 Definitely won't make it to state pension age. Still fire a good percentage into my private pension which Ruggy can spend at his leisure when I am dead. 1 Quote Link to comment Share on other sites More sharing options...
Miguel Sanchez Posted February 5 Share Posted February 5 38 minutes ago, Shadow Play said: Sorry MS I’m not following you on that one? 1 Quote Link to comment Share on other sites More sharing options...
Cosmic Joe Posted February 5 Share Posted February 5 ...puts hoping to live long enough to see East Fife win the Scottish Cup again into perspective -1 Quote Link to comment Share on other sites More sharing options...
Salt n Vinegar Posted February 5 Share Posted February 5 (edited) Meanwhile, in Glasgow... While the average male life expectancy at birth is 76.5 years, if he makes it to 65 without dying, then the average number of years left is 17.3. Life expectancy was lowest in Glasgow city where it was 72.9 (±0.3) years for males and 78.2 (±0.3) years for females. 'sake. Source... https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.nrscotland.gov.uk/files/statistics/life-expectancy-in-scotland/20-22/life-expectancy-20-22-report.pdf&ved=2ahUKEwiEjt2895SEAxUQ-gIHHWqzCZkQFnoECA4QBg&usg=AOvVaw23bquLAxJ0P6U3XchSvGot Edited February 5 by Salt n Vinegar 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted February 5 Share Posted February 5 Work till you drop. 0 Quote Link to comment Share on other sites More sharing options...
Fullerene Posted February 5 Share Posted February 5 1 hour ago, MazzyStar said: In France they rioted because of a proposal to raise the retirement age to 64… Unless your name is Vera, Chuck or Dave. 0 Quote Link to comment Share on other sites More sharing options...
Inanimate Carbon Rod Posted February 5 Share Posted February 5 Yet put out a media narrative ‘blaming bloody furriners’ and work people into poverty, making property ownership more difficult than prior generations, make the concept of retirement a falacy, steal our pensions and tell us its for our own good to reduce ‘debt’. Honestly government can go take a f**k to itself. 7 Quote Link to comment Share on other sites More sharing options...
Freedom Farter Posted February 5 Share Posted February 5 1 hour ago, Shadow Play said: Can I ask where you got that information from. Are there any articles from reliable sources I can read about this school of thought? If you're a sovereign currency issuer like UK are, public debt is owed to yourself, therefore shouldn't be thought of the way we think of private debt. 0 Quote Link to comment Share on other sites More sharing options...
Shadow Play Posted February 5 Share Posted February 5 6 minutes ago, Freedom Farter said: If you're a sovereign currency issuer like UK are, public debt is owed to yourself, therefore shouldn't be thought of the way we think of private debt. Sorry, I’m not sure I understand. The UK government predominately sells bonds to the market, therefore the money is ultimately owed to the institutions that buy the gilts. It is important to keep government debt manageable. Much like private debt the more the UK borrows the more it will have to pay each year in interest payments. I think it’s currently roughly £100 billion ish in annul interest payments. To put that in perspective I think a little more is spent on education and roughly half is spent on defence. It also become a significant problem if a government is assessed as having borrowed too much as this will negatively affect the country’s credit rating making future borrowing more difficult and expensive. 4 Quote Link to comment Share on other sites More sharing options...
PossilYM Posted February 5 Share Posted February 5 Over 50 male smoker or more probably ex smoker, bad diet, booze bag, brought up some scheme or ex pit Village, low educational record, manual work. Forget it. Chances are you won't see 71. If you survive that first heart attack or stroke, sell up and get yourself over to Thailand. Least you'll die with a smile on your face. 0 Quote Link to comment Share on other sites More sharing options...
Left Back Posted February 5 Share Posted February 5 2 hours ago, Shadow Play said: Can I ask where you got that information from. Are there any articles from reliable sources I can read about this school of thought? Check out some statements by Rangers. Tell you all you need to know about debts not being real. 2 Quote Link to comment Share on other sites More sharing options...
Freedom Farter Posted February 5 Share Posted February 5 (edited) 36 minutes ago, Shadow Play said: Sorry, I’m not sure I understand. The UK government predominately sells bonds to the market, therefore the money is ultimately owed to the institutions that buy the gilts. It is important to keep government debt manageable. Much like private debt the more the UK borrows the more it will have to pay each year in interest payments. I think it’s currently roughly £100 billion ish in annul interest payments. To put that in perspective I think a little more is spent on education and roughly half is spent on defence. It also become a significant problem if a government is assessed as having borrowed too much as this will negatively affect the country’s credit rating making future borrowing more difficult and expensive. General overview: Specifically on bonds (interviewee is German so is using the context of the Eurozone but the principle is universal): Screenshots taken from here: https://www.rosalux.de/en/news/id/50220/central-banks-never-run-out-of-their-own-money This is maybe more what you're looking for, though. A direct debate on the two contrasting views - either that public debt should be a major concern or that it shouldn't be: https://www.yanisvaroufakis.eu/2021/01/23/is-it-sensible-to-fret-about-public-debts-rise-during-the-pandemic-a-debate-with-todd-g-buchholz-on-pairagraph/. My current position is towards the idea of public debt being less of a concern. Partly because I've seen more right wing governments consistently wrack up far more public debt during their time in office (due to their tax cuts). That's despite the right wing being the ones who always claim public debt matters. Which suggests to me they don't actually believe in what they preach as they certainly don't practice it. Instead they're just looking to create public consent for their austerity policies. Edited February 5 by Freedom Farter 1 Quote Link to comment Share on other sites More sharing options...
Hedgecutter Posted February 5 Share Posted February 5 2 hours ago, DiegoDiego said: Less of a retirement and more of a gap year. 0 Quote Link to comment Share on other sites More sharing options...
Shadow Play Posted February 5 Share Posted February 5 2 minutes ago, Freedom Farter said: General overview: Specifically on bonds (interviewee is German so is using the context of the Eurozone but the principle is universal): Screenshots taken from here: https://www.rosalux.de/en/news/id/50220/central-banks-never-run-out-of-their-own-money This is maybe more what you're looking for, though. A direct debate on the two contrasting views - either that public debt should be a major concern or that it shouldn't be: https://www.rosalux.de/en/news/id/50220/central-banks-never-run-out-of-their-own-money My current position is towards the idea of public debt being less of a concern. Partly because I've seen more right wing governments consistently wrack up far more public debt during their time in office (due to their tax cuts). That's despite the right wing being the ones who always claim public debt matters. Which suggests to me they don't actually believe in what they preach as they certainly don't practice it. Instead they're just looking to create public consent for their austerity policies. I understand what you were referring to now. Thank you. It’s been a very long time since I studied economics but I think the general current opinion with regards to the UK Government debt appears to be that as a % of GDP the interest payments are historically quite low. Regardless of all this I remember reading an article that looked at how the UK Governemnet could pay off all debts. Effectively we can’t. The increase in taxes required over an extended period of 30-50 years would result in a very significant recession. 0 Quote Link to comment Share on other sites More sharing options...
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