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Will we be paying it back for years/generations

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By *roperty of the boss OP   Couple
over a year ago

North and South of

I have no idea how a country borrows money and from who, world bank bonds etc

But in these unprecedented times say every country borrowed 50 billion couldn't they just hit a reset button so everyone is back to pre covid times, It's just digital money anyway isn't it and wouldn't upset inflation would it ?

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By *moothman2000Man
over a year ago

Leicestershire


"I have no idea how a country borrows money and from who, world bank bonds etc

But in these unprecedented times say every country borrowed 50 billion couldn't they just hit a reset button so everyone is back to pre covid times, It's just digital money anyway isn't it and wouldn't upset inflation would it ?"

Sounds eminently sensible to me, but I know nothing about world finance...

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By *eddy and legsCouple
over a year ago

the wetlands


"I have no idea how a country borrows money and from who, world bank bonds etc

But in these unprecedented times say every country borrowed 50 billion couldn't they just hit a reset button so everyone is back to pre covid times, It's just digital money anyway isn't it and wouldn't upset inflation would it ?"

I think the issue is that the government borrowed money with us as guarantors and co-signatories but I know nothing of government borrowing except we had to repay debt to the usa for ww2 up until recently so there isnt really a time limit on it.

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By *eddy and legsCouple
over a year ago

the wetlands

I did read that if they push up interest rates then over a few years the debt becomes less in real terms all very complicated

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By *ove2pleaseseukMan
over a year ago

Hastings


"I did read that if they push up interest rates then over a few years the debt becomes less in real terms all very complicated"

Not as complicated as you think.

So you think £5 Is £5 but today it will buy you say a bottle or wine but in a year's time it won't as the wine has gone up in price so you £5 Is now worth £4.50.

So £5 billion of debt would sort of decrease in the same way aganced GDP

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By (user no longer on site)
over a year ago


"I have no idea how a country borrows money and from who, world bank bonds etc

But in these unprecedented times say every country borrowed 50 billion couldn't they just hit a reset button so everyone is back to pre covid times, It's just digital money anyway isn't it and wouldn't upset inflation would it ?"

Funnily enough I was wondering the same thing. Where actually are we borrowing this money from. Is there a magic money tree after all ?. Perhaps there is.

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By *ove2pleaseseukMan
over a year ago

Hastings

Is is borrowed overseas and on trading floors almost like a commodity. As it is bought and sold.

The UK does not publish information about foreign bondholders and the Chinese banks who have bought UK debt are under no obligation to publish what they own. It has been suggested that China-registered institutions own approximately 15 percent of the UK's debt, amounting to 267 billion pounds.8 Apr 2020

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By *ap d agde coupleCouple
over a year ago

Broadstairs


"I have no idea how a country borrows money and from who, world bank bonds etc

But in these unprecedented times say every country borrowed 50 billion couldn't they just hit a reset button so everyone is back to pre covid times, It's just digital money anyway isn't it and wouldn't upset inflation would it ?

Funnily enough I was wondering the same thing. Where actually are we borrowing this money from. Is there a magic money tree after all ?. Perhaps there is."
Government borrows money in Financial markets selling Bonds , at the moment U.K. is over 2 Trillion in debt and rising quickly,U.K. borrowed 36 billion in September 28.4 billion more than September 2019

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By *eddy and legsCouple
over a year ago

the wetlands


"I did read that if they push up interest rates then over a few years the debt becomes less in real terms all very complicated

Not as complicated as you think.

So you think £5 Is £5 but today it will buy you say a bottle or wine but in a year's time it won't as the wine has gone up in price so you £5 Is now worth £4.50.

So £5 billion of debt would sort of decrease in the same way aganced GDP "

I meant complicated in that rising interest rates introduce many other negative aspects and then there's brexit and the currency effect.

Glad I'm not an accountant

Just put the bills behind the fridge for a few decades and none of us will care much.

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By *ove2pleaseseukMan
over a year ago

Hastings


"I did read that if they push up interest rates then over a few years the debt becomes less in real terms all very complicated

Not as complicated as you think.

So you think £5 Is £5 but today it will buy you say a bottle or wine but in a year's time it won't as the wine has gone up in price so you £5 Is now worth £4.50.

So £5 billion of debt would sort of decrease in the same way aganced GDP

I meant complicated in that rising interest rates introduce many other negative aspects and then there's brexit and the currency effect.

Glad I'm not an accountant

Just put the bills behind the fridge for a few decades and none of us will care much."

Oh you done it now you menshend the B word....

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By (user no longer on site)
over a year ago

Some crazy world economic Forum bloke called klaus schwab reckons we're on for a global economic re-set. Kinda like a 4th industrial revolution. He says that the covid crisis could be the perfect reason to implement the stuff he was touting a few yeas back. Mentioned something along the lines of 'build back better' or something. The crazy conspiracy theorists publication called Time magazine has it all over their front cover.

Absolutely absurd if you ask me

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By *ionelhutzMan
over a year ago

liverpool


"Some crazy world economic Forum bloke called klaus schwab reckons we're on for a global economic re-set. Kinda like a 4th industrial revolution. He says that the covid crisis could be the perfect reason to implement the stuff he was touting a few yeas back. Mentioned something along the lines of 'build back better' or something. The crazy conspiracy theorists publication called Time magazine has it all over their front cover.

Absolutely absurd if you ask me"

I didnt realise we had industrial revolutions 2 and 3.?

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By (user no longer on site)
over a year ago


"Some crazy world economic Forum bloke called klaus schwab reckons we're on for a global economic re-set. Kinda like a 4th industrial revolution. He says that the covid crisis could be the perfect reason to implement the stuff he was touting a few yeas back. Mentioned something along the lines of 'build back better' or something. The crazy conspiracy theorists publication called Time magazine has it all over their front cover.

Absolutely absurd if you ask me

I didnt realise we had industrial revolutions 2 and 3.?"

1st steam, 2nd electricity, 3rd digital.... Plenty to check out online for further details

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By *ove2pleaseseukMan
over a year ago

Hastings


"Some crazy world economic Forum bloke called klaus schwab reckons we're on for a global economic re-set. Kinda like a 4th industrial revolution. He says that the covid crisis could be the perfect reason to implement the stuff he was touting a few yeas back. Mentioned something along the lines of 'build back better' or something. The crazy conspiracy theorists publication called Time magazine has it all over their front cover.

Absolutely absurd if you ask me

I didnt realise we had industrial revolutions 2 and 3.?"

I guess revolution

1 Steam

2 Electric

3 Nuclear

Now 3 has caused enough problems so I dont want to go to 4 unless it's going back to befor steam

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By *ionelhutzMan
over a year ago

liverpool


"Some crazy world economic Forum bloke called klaus schwab reckons we're on for a global economic re-set. Kinda like a 4th industrial revolution. He says that the covid crisis could be the perfect reason to implement the stuff he was touting a few yeas back. Mentioned something along the lines of 'build back better' or something. The crazy conspiracy theorists publication called Time magazine has it all over their front cover.

Absolutely absurd if you ask me

I didnt realise we had industrial revolutions 2 and 3.?

1st steam, 2nd electricity, 3rd digital.... Plenty to check out online for further details "

Ah you learn something new every day

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By (user no longer on site)
over a year ago

simple answer, yes the next generation will be paying for this all thier lives, and probably thier children to, this is what the gov now dont care about, its criminal really, we have just finished paying for ww2,these things take generations, not decades to repair, i feel sorry for the next generation, no jobs, massive debt, lack of social care due to the debt, the future isnt rosey

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By (user no longer on site)
over a year ago


"Some crazy world economic Forum bloke called klaus schwab reckons we're on for a global economic re-set. Kinda like a 4th industrial revolution. He says that the covid crisis could be the perfect reason to implement the stuff he was touting a few yeas back. Mentioned something along the lines of 'build back better' or something. The crazy conspiracy theorists publication called Time magazine has it all over their front cover.

Absolutely absurd if you ask me

I didnt realise we had industrial revolutions 2 and 3.?

1st steam, 2nd electricity, 3rd digital.... Plenty to check out online for further details

Ah you learn something new every day

"

Keep on digging into it.... You'll learn a whole lot more.

Watch klaus schwab on you tube.... 'ze force endastrial rivolooshion' (4th ind rev).... He looks and sounds like a proper Bond villa. All he needs is to be stroking a fluffy white cat on his lap

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By *ionelhutzMan
over a year ago

liverpool


"Some crazy world economic Forum bloke called klaus schwab reckons we're on for a global economic re-set. Kinda like a 4th industrial revolution. He says that the covid crisis could be the perfect reason to implement the stuff he was touting a few yeas back. Mentioned something along the lines of 'build back better' or something. The crazy conspiracy theorists publication called Time magazine has it all over their front cover.

Absolutely absurd if you ask me

I didnt realise we had industrial revolutions 2 and 3.?

1st steam, 2nd electricity, 3rd digital.... Plenty to check out online for further details

Ah you learn something new every day

Keep on digging into it.... You'll learn a whole lot more.

Watch klaus schwab on you tube.... 'ze force endastrial rivolooshion' (4th ind rev).... He looks and sounds like a proper Bond villa. All he needs is to be stroking a fluffy white cat on his lap "

Ha ha

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By (user no longer on site)
over a year ago

4th ind rev is AI

Klaus 'the great reset' is a rebranding of NWO but this is all conspriracy nonsense of course

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By *o Trash in My TrailerMan
over a year ago

Daytona Beach

Just putting ot out there but you do know it took the UK 70yars to repay its WW2 debt to the USA so it could be that long.

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By *exybreeksMan
over a year ago

East Calder

So currently we're borrowing at practically unheard of low interest rates. So low in fact that the likelihood is they can only go up. As per a commenter above if we borrow £5, in a year that is likely only worth £4.50. what he forgets is that there is also interest to pay. So in a year we maybe actually owe £5.50 and we only have £4.50 worth of assets for it. This would be a 10% interest rate. The interest rate at the moment though is historically low so the extra paid back is as minimal as possible.

Also the retail price index should be taken into account. This is the increase in cost of goods and often vastly outstrips the base interest rate.

So in the end, you've spent £5.00 on something that's worth £4.90 but would now cost £5.10 and your total debt is £5.02.

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By *rufinWoman
over a year ago

notts

If we are borrowing from China, and China is doing really well as they don't have corona and apparently also have a vaccine, how likely is it that they will cancel our debt?

This could be the point of major reset as power swings from the West to the East. Economic depressions usually end in wars as well. Fun times lie ahead.

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By (user no longer on site)
over a year ago

The point most people seem to be missing is the fact that over the next few years taxes will have to be raised to pay for it, income tax, vat etc.

Somebody has to pay this debt and in the end it comes down to you and me, the working man and women that will be paying for it.

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By *ouple in LancashireCouple
over a year ago

in Lancashire

It's worth noting that part of the debt incurred is for substandard PPE provided by companies who do pest control, confectionery and financial services some with links to Tory party MPs and associates..

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By (user no longer on site)
over a year ago


"4th ind rev is AI

Klaus 'the great reset' is a rebranding of NWO but this is all conspriracy nonsense of course"

World Economic Forum or WEF will benefit the FEW

Funny watching the promo vids for the WEF and checking out the like to dislike ratio and the comments posted below.

I don't ever remember klaus schwab running for election in this or any other country. Seems to me like he's writing the script and then handing it to people like bojo, Merkel,macron,trudeau etc etc to put into place. Perhaps trump had a few pages missing from his copy of the memo

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By *eddy and legsCouple
over a year ago

the wetlands

https://www.theguardian.com/commentisfree/2020/oct/29/panic-britain-public-debt-government-borrowing-pandemic

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