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An economy that doesn't grow can't resolve its debt crisis
HAMISH_MCTAVISH
Posts: 28,592 Forumite
So says the biggest "bond vigilante" in the World......
In an interview in the Times on 5 September, the managing director of Pimco, Bill Gross, argued that:
In an interview in the Times on 5 September, the managing director of Pimco, Bill Gross, argued that:
"The economy in the UK is worse off than it was when the plan was developed, so there should be at a minimum fine-tuning and perhaps re-routing of the plan . . . the problem becomes if it is too quick and swift and leads to an economic contraction, which it appears close to doing in the UK.
Bond investors obviously want not just low inflation but some type of positive growth. An economy that doesn't grow, like Japan, ultimately can't resolve its debt crisis, either."
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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And "growth" requires yet more debt.
How will that resolve the debt crisis?
Muppet.
(not you McTittish - the guy that wrote that cr4p)"The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
HAMISH_MCTAVISH wrote: »So says the biggest "bond vigilante" in the World......
In an interview in the Times on 5 September, the managing director of Pimco, Bill Gross, argued that:
On the other hand, a country that doesn't resolve its debt crisis won't grow.0 -
On the other hand, a country that doesn't resolve its debt crisis won't grow.
Catch 22 then.....:D
(BTW, AEP had a take I tend to agree with on Eurozone debt dynamics here.....
https://forums.moneysavingexpert.com/discussion/3652009
An interesting read.)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Bumped for fella“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
We need less people and more jobs.0
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PasturesNew wrote: »We need less people and more jobs.
Less people would lead to less jobs.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Less people would lead to less jobs.
- Is that a local law applicable only to the UK?
- Or does it apply to most countries?
I.e. is a a universal law of economics?
- Does it apply to Afircan countries?
- If it doesn't apply to all countries what is special about UK that makes it so.
-Why is there unemployment if such a law was true?0 -
HAMISH_MCTAVISH wrote: »Bumped for fella
Um, regarding which bit. I agree with the sentiment in the thread title. I think we disagree with how best to achieve it.0
This discussion has been closed.
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