| UK Debt 2 Trillion 08:55 - Aug 21 with 3016 views | Oldsmoker |
The UK's debt exceeded 2Trillion pounds for the first time ever.
227 billion more than this time last year.
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| UK Debt 2 Trillion on 12:08 - Aug 21 with 566 views | Andrew4445 |
| UK Debt 2 Trillion on 12:00 - Aug 21 by Keno |
just out of interest when you say "40% + of the UK national debt s held by the bank of England"
where does the BofE get its money from? |
One more thing. This is why looking at both sides of the transaction is important. The debt is the liability side of the arrangement but for every liability there is an asset.So we could say that the national debt is £2tn but the national assets are £800bn (at least). Therefore our net position is no worse than £1.2tn. |  | | |
| UK Debt 2 Trillion on 12:37 - Aug 21 with 537 views | Darth_Koont |
Let's be clear also that the vast majority of that debt (c. 85%) has been run up in non-pandemic, business-as-usual times.
And by the Tories too. Party of fiscal responsibility, my @rse.
What's more they've increased the debt not by investing in society but by bunging it to their mates — as the poor get poorer in relative terms and essential infrastructure and public services wither. |  |
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| UK Debt 2 Trillion on 12:54 - Aug 21 with 510 views | Dubtractor |
| UK Debt 2 Trillion on 11:12 - Aug 21 by Libero |
You really do have to stop this IT'S NOT MY ARGUMENT bullsh*t.
If you're putting it forwards you are adopting it's values, you cannot distance yourself from the statement unless you are referencing it to directly condemn it. [Post edited 21 Aug 2020 11:45]
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Same every time.
Hampstead: here is a view point that I fully endorse, isn't it great?
Everyone else: no, it is nonsense and here is why.
Hampstead: why are you attacking me, it isn't my opinion, I'm just sharing it as thought it was interesting.
Everyone else: FFS. |  |
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| UK Debt 2 Trillion on 13:08 - Aug 21 with 491 views | Oldsmoker |
| UK Debt 2 Trillion on 12:08 - Aug 21 by Andrew4445 |
One more thing. This is why looking at both sides of the transaction is important. The debt is the liability side of the arrangement but for every liability there is an asset.So we could say that the national debt is £2tn but the national assets are £800bn (at least). Therefore our net position is no worse than £1.2tn. |
We only owe 1.2T.
Well that's alright then.
I thought we might be in over our heads. | |
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| UK Debt 2 Trillion on 13:19 - Aug 21 with 481 views | StokieBlue |
| UK Debt 2 Trillion on 12:08 - Aug 21 by Andrew4445 |
One more thing. This is why looking at both sides of the transaction is important. The debt is the liability side of the arrangement but for every liability there is an asset.So we could say that the national debt is £2tn but the national assets are £800bn (at least). Therefore our net position is no worse than £1.2tn. |
You can't really look at it that way unless the debt is secured against an asset or handed over as collateral which isn't the case for government bonds.
In this case the asset is the bond and the liability is the UK's promise to repay it.
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| Avatar - IC410 - Tadpoles Nebula |
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| UK Debt 2 Trillion on 13:24 - Aug 21 with 474 views | GaryCooper |
| UK Debt 2 Trillion on 12:37 - Aug 21 by Darth_Koont |
Let's be clear also that the vast majority of that debt (c. 85%) has been run up in non-pandemic, business-as-usual times.
And by the Tories too. Party of fiscal responsibility, my @rse.
What's more they've increased the debt not by investing in society but by bunging it to their mates — as the poor get poorer in relative terms and essential infrastructure and public services wither. |
When the Labour party finally expels you and those like you from the party then maybe, just maybe the country can return to progressive, compassionate, fiscally responsible government, whilst you and your fellow loons are members prepare for never ending Tory government. |  | | |
| UK Debt 2 Trillion on 13:27 - Aug 21 with 466 views | footers |
| UK Debt 2 Trillion on 13:24 - Aug 21 by GaryCooper |
When the Labour party finally expels you and those like you from the party then maybe, just maybe the country can return to progressive, compassionate, fiscally responsible government, whilst you and your fellow loons are members prepare for never ending Tory government. |
To think you were ever a Labour voter is a terrifying thought. |  |
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| UK Debt 2 Trillion on 13:50 - Aug 21 with 435 views | Darth_Koont |
| UK Debt 2 Trillion on 13:24 - Aug 21 by GaryCooper |
When the Labour party finally expels you and those like you from the party then maybe, just maybe the country can return to progressive, compassionate, fiscally responsible government, whilst you and your fellow loons are members prepare for never ending Tory government. |
You're sh!t out of luck, Gary.
The pressure is only going to increase for the progressive, compassionate and sustainable stuff I'm calling for - and the stuff you're always getting upset about.
You're on the wrong side of history already. | |
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| UK Debt 2 Trillion on 14:31 - Aug 21 with 407 views | Andrew4445 |
| UK Debt 2 Trillion on 13:19 - Aug 21 by StokieBlue |
You can't really look at it that way unless the debt is secured against an asset or handed over as collateral which isn't the case for government bonds.
In this case the asset is the bond and the liability is the UK's promise to repay it.
SB |
But you can't count one side of the balance sheet without considering the other.
I appreciate your point but both values have to move in unison. | | | |
| UK Debt 2 Trillion on 14:32 - Aug 21 with 404 views | Andrew4445 |
| UK Debt 2 Trillion on 13:08 - Aug 21 by Oldsmoker |
We only owe 1.2T.
Well that's alright then.
I thought we might be in over our heads. |
It's fine. We control the issuer of the currency so it could all be paid off tomorrow. It won't be because of inflation and the fact that the economy needs UK Government debt to function. | | | |
| UK Debt 2 Trillion on 14:36 - Aug 21 with 397 views | StokieBlue |
| UK Debt 2 Trillion on 14:31 - Aug 21 by Andrew4445 |
But you can't count one side of the balance sheet without considering the other.
I appreciate your point but both values have to move in unison. |
Why do they have to move in unison?
The concept and use of leverage clearly shows they don't have to move in unison at all. It's possible to issue infinite debt as long as someone is willing to buy it but you're assets aren't going to increase at the same rate.
When discussing national debt the countries assets are largely irrelevant unless you plan to sell them in the case of default to pay the recovery on the bonds and that won't happen as it's unsecured debt.
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| Avatar - IC410 - Tadpoles Nebula |
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