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Comments
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ruggedtoast wrote: »It is interesting that apparently even the prime minister doesn't understand fractional reserve banking.
Why would he and his cronies when they have had a rather healthy Bank of Mum and Dad to grow up with?0 -
HAMISH_MCTAVISH wrote: »Oh look. Nothing has changed.
Just saying, I've no idea why Darling and Brown prefered to sell the global financial collapse as a US issue.
Nope. No Idea at all.0 -
ruggedtoast wrote: »It is interesting that apparently even the prime minister doesn't understand fractional reserve banking.
Slightly worrying when he did the PPE at Oxford, too. I remember being taught at least the basics of this at A-level Economics.0 -
HAMISH_MCTAVISH wrote: »Which does rather put Camoron's almost-uttered idiocy into perspective.
It has ever been thus since debt was invented.
Simple answer.
We don't, and never will.;)
Without debt, savers can never make returns. They're two sides of the same coin.
Debt for investment is one thing.
Debt just to bring a purchase forward is counterproductive over a longer term.0 -
ruggedtoast wrote: »It is interesting that apparently even the prime minister doesn't understand fractional reserve banking.
The prime minister is just a talking head isnt he, people write his speeches for him so i reckon hes just a bit of a thick tw*t and he hasnt got a clue what hes doing.
Just like the last prime minister and exactly the same as the next one.
Until the day comes when a normal working man or woman is prime minister we will forever be stuck with idiots who dont know a thing about real life.0 -
The prime minister is just a talking head isnt he, people write his speeches for him so i reckon hes just a bit of a thick tw*t and he hasnt got a clue what hes doing.
Just like the last prime minister and exactly the same as the next one.
Until the day comes when a normal working man or woman is prime minister we will forever be stuck with idiots who dont know a thing about real life.
God help us if the normal working man should become PM. Think Bob Crowe or Neil Kinnock.0 -
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Debt for investment is one thing.
Debt just to bring a purchase forward is counterproductive over a longer term.
But 'investment' is one of the two words Gorden Brown abused most. (that and 'prudent')
You or I might blow some money on getting p1ssed down the pub - not GB; he was "investing" in the local community,prudently investing in his sense of wellbeing, supporting the brewers,crisp makers and kebab houses etc.
He "invested" the economy right up the wall0
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