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National Debts
Comments
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beaujolais-nouveau wrote: »Would look higher? Is higher. People on the Continent rent.
Exactly, and a lot of people whose debt is mainly in the form of a mortgage will be paying stupidly low interest on that debt. Less than rent in many cases. The guy on the FT money programme for example mentioned he was now paying £8 per month on his £190k mortgage. So is comparing that debt to debt on the continent going to say anything useful?“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
Is that something to be proud of?Rochdale_Pioneers wrote: »Perhaps we could - using the same methodology on everyone. I doubt that we're more in debt than the Americans.
At least they, currently, have a world reserve currency.
US total debt = 5.5 x GDP, but that's an "internet" fact & needs backed-up from a proper source.
http://mwhodges.home.att.net/nat-debt/debt-nat.htm
UK Personal Debt: £1.5tn
UK govt debt. £0.7tn (may be twice this)
UK business debt: ??
UK GDP 1.4tn (2008 est)"Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Exactly, and a lot of people whose debt is mainly in the form of a mortgage will be paying stupidly low interest on that debt. Less than rent in many cases. The guy on the FT money programme for example mentioned he was now paying £8 per month on his £190k mortgage. So is comparing that debt to debt on the continent going to say anything useful?
but he still has the debt and that has to be repaid....It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Official UK debt numbers ignore lots of unfunded liabilities that are carefully kept 'off balance sheet'
EG:
Railtrack
Nuclear cleanup
PFI
Unfunded civil servant final salary pensions
Unfunded local govt pensions
Demands on NHS and pension system from aging population
Demands on benefits system from collapse in value of retirement savings and mass unemployment
etc, etc
I can't claim to know what the situation is in other countries but I am sure here a lot of promises have bene made that simply can not be afforded but are not included in official debt figures.I think....0 -
I would wager there are 2 factors :-
a) how much debt you have as a country, and
b) how confident the international markets are in your ability to cope with that debt.
Our debt position has obviously been rising, and the recession will weaken tax receipts, adding to the burden.
As I mentioned before, I think there are some things the government can do now to show they have a plan for deficit reduction. This would be well received.
For example, 4.1 billion per annum on fighting a bunch of goat herders in Afghanistan ? Err, what is the point ? Save the money I say, and possibly a few soldiers lives to boot.0 -
Whats Brazil doing then?0
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Official UK debt numbers ignore lots of unfunded liabilities that are carefully kept 'off balance sheet'
EG:
Railtrack
Nuclear cleanup
PFI
Unfunded civil servant final salary pensions
Unfunded local govt pensions
Demands on NHS and pension system from aging population
Demands on benefits system from collapse in value of retirement savings and mass unemployment
etc, etc
I can't claim to know what the situation is in other countries but I am sure here a lot of promises have bene made that simply can not be afforded but are not included in official debt figures.
This is presumably why the chart uses IMF figures.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
Guy_Montag wrote: »At least they {America}, currently, have a world reserve currency.
And we don't? According to the IMF Sterling is the world's third biggest reserve currency behind the Euro and the Dollar.0 -
Why has that graph got two fairly repulsive wrestlers on it? When I use my Excel options I can have a pie, bar or scatter graph. No naked wrestler option.0
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