'The Deficit' - Does anyone know anything about it?

[rob.imk2]

My way of looking at it is ,someone borrowed lots of money spent it and never paid it back ,maybe a bit simplistic but that money is somewhere or is it

[chesters1]

My way of looking at it is ,someone borrowed lots of money spent it and never paid it back ,maybe a bit simplistic but that money is somewhere or is it

 

no the money doesnt exist its debt.

IE when you take out a loan does the bank go into the vaults and take the amount from one place and put it in another?

No it just creates a debt that only exists on paper or computers ,no "money" has been involved . every month your account "pays" back nothing it just makes the debt smaller (hopefully) in what you owe and the debt grows on your account unless you pay in debt owed to you (wages usually)

 

if you want to get rid of debt you just delete it wherever it exists nothing tangible exists , bank notes are transferable debt just an IOU given to you by the bank of england because they have no real "money" usually gold but it could be in other places seashells ,pink footed goose feet or some agreed thing that has a value in the area its used

 

its all a huge con but it works and has done since we stopped using coins of silver or gold that had the value of their face value ,but as we see it has drawbacks and when IOUs are no longer excepted big trouble!

 

the stock market is even a bigger con ,investors dont make much when the market is stable ,if it rises to high its ok to sell but not to buy and vice versa ,if you work hard enough in the back ground you can get great rewards selling just as the market crashes and buying the exact same share back when it hits rock bottom ,few hard line stock market gamblers ever go under i suspect just as its rare for a bookie to be ,if you have enough money you can buy or sell as you wish or just sit and wait until the prices rise again if you didnt see it coming or wasnt involved with why the market plummeted

 

ofcourse if you have money and power and a little pressure as with the loyds fiasco you can keep your shirt even when your income means on paper you can lose it

 

whilst not perfect and somewhat controversial this is as good an explanation of how the chair was kicked from under you money wise

http://video.google.com/videoplay?docid=-2550156453790090544

Edited May 29, 2012 by chesters1

[HERUTILUS]

Hello mr herutilus have you got blue rosette tattood on your forhead by any chance of does it just look that way or are you wired to the moon or maybe panet zork take a good look at the link like myself many many other people they dont think our our chancellor is doing a good a very good job plus he has now got a cornish pasty plasterd all over his face.

 

http://www.guardian.co.uk/politics/2012/ap...ermining-tories

 

 

paul.

 

Hello Mr Big Cod,

 

You've got me wrong BC. I'm not Tory, nowhere near it, I'm so far to the right of the Tory Party I'm away over the politcal horizon!

 

To continue - I well remember back then, attending a building construction night class I was. The class started 6.30pm and I was in the middle of the front row [i/ve always been a crawling gitt, always liked to be near to the teacher!].

Anyway, it was about 6.20pm & I was reading the Daily Telegraph, a world-class rag anall, known to such as you as the Daily Torygraph. Well, in walked the lecturer, a nice block even if he was "A man of The Left" & he laid into me by saying "How dare you read a biassed disgusting newpaper such as that in a class of mine"!

Everyone burst out laughing, I started to cry, ran out & got the bus home [No cars for the proles in those days BC}.

 

The story about me reading the DT IS true, ditto what the lecturer said, but he was only joking anall. I had a good laugh with all the rest. I wasn't in the least interested in the DT's political slant, I was doing the crossword.

 

Before I go I only have this to say. When you're going-on about political jihad, 'power to the people' and all that junk you should remember that such gradiose ideas costs money, a great deal of money. Someone's got to pay for it, and I fancy it isn't the class of person you defend on a regular basis.

 

No matter, each to his own.

 

Regards,

 

The Right-Winger, or is the Right Whinger?

[n4lly]

http://www.guardian.co.uk/politics/2012/ap...ermining-tories

 

 

paul.

 

 

Who wants to be popular ? Austerity is necessary, big up and live with it.

 

Pasties ? blimey you'll want VAT cut next

 

 

Tax Freedom day

 

2004

 

http://news.bbc.co.uk/1/hi/business/3761255.stm

 

 

2012

 

 

http://www.adamsmith.org/blog/tax-spending...reedom-day-2012

 

 

Quote:

Last year’s Cost of Government day fell on 30th June, meaning that the government’s austerity measures have reduced the cost of government by 7 days. But, when we take into account the extra two days tax burden, the net effect of George Osborne’s austerity measures is a measly five days net cut in the burden faced by taxpayers. “A lot of work still needs to be done,” says the Institute, “ to bring down government borrowing and the Chancellor must make more tax cuts to allow greater economic growth.”

[n4lly]

Interesting.....

 

 

2003

 

http://news.bbc.co.uk/1/hi/business/2968930.stm

 

"In 1997, tax freedom day fell on 27 May. A year later it was 1 June; In 1999 it was 4 June and in 2000 it fell on 9 June."

 

 

Thats a sharp rise, can anyone think why that maybe other than public spending ?

 

 

 

Edited June 4, 2012 by n4lly