Corbynomics: A Dystopia

Moby

https://www.theguardian.com/politics/2017/aug/12/growing-gulf-life-expectancy-shows-austerity-deepened-inequalities More evidence that the austerity agenda is hurting the weakest in society.

bobbymotors

Moby wrote: »

https://www.theguardian.com/politics/2017/aug/12/growing-gulf-life-expectancy-shows-austerity-deepened-inequalities More evidence that the austerity agenda is hurting the weakest in society.

Ok...what's your solution then? Which taxes do you want to raise or departments cut?

Tromking

bobbymotors wrote: »

Ok...what's your solution then? Which taxes do you want to raise or departments cut?

ZZZZZzzzzzz....oh god, another one!

cogito

Moby wrote: »

https://www.theguardian.com/politics/2017/aug/12/growing-gulf-life-expectancy-shows-austerity-deepened-inequalities More evidence that the austerity agenda is hurting the weakest in society.

You can always rely on the Graun. Smoke 50 fags a day, eat pie and chips, drink six pints of cider, die at 60 from a lifestyle disease and blame the Tories.

About ten years ago when I was still working, I read a report from life assurance companies predicting that life expectancies would level out for exactly these reasons.

Rusty_Shackleton

cogito wrote: »

You can always rely on the Graun. Smoke 50 fags a day, eat pie and chips, drink six pints of cider, die at 60 from a lifestyle disease and blame the Tories.

About ten years ago when I was still working, I read a report from life assurance companies predicting that life expectancies would level out for exactly these reasons.

Have you considered debating the content in the Guardian that you disagree with? Yours is just a lazy ad hominem attack, and most people will assume you actually don't have a point to make as soon as you go that route. That's not to say some sources shouldn't be dismissed simply because they are completely unreliable, but a newspaper really shouldn't fall into that category. I would happily concede a point to the hate rag that is the Daily Mail if it was referencing a legitimate source.

System

Thrugelmir wrote: »

Like the UK they'll be selling their assets to fund the shortfall. As on the debt they'll have interest to service.

The UK like the US owe their debt in home currency. Therefore the UK, like the US, could write a cheque and clear it.

Other options for dealing with debt are, of course, available.

Whatever the 'solution' the UK, USA, and Greece won't stop borrowing money until people stop lending it to them.

System

cogito wrote: »

About ten years ago when I was still working, I read a report from life assurance companies predicting that life expectancies would level out for exactly these reasons.

Well if they were selling policies based on living longer and people aren't they'll be coining it in. I doubt they spotted such an inefficiency in the market or, if they did, it was soon corrected.

Thrugelmir

ilovehouses wrote: »

The UK like the US owe their debt in home currency. Therefore the UK, like the US, could write a cheque and clear it.

If only it was that easy.

Greece won't stop borrowing money until people stop lending it to them.

I wouldn't wish to see austerity of the level imposed on Greece in the UK. There must be huge resentment building. Resentment that won't be forgotten quickly either. At the end of the day it's the impact on peoples lives. People shouldn't be used a political football.

System

Thrugelmir wrote: »

If only it was that easy.

The consequences would be disruptive (to say the least) but it is relatively easy to do and the UK's debt after would be zero.

You note the UK sells assets to fund interest payments - do you see a happy ending down that road?

There are no easy solutions. Not least because we continue to vote for politicians who promise to borrow more.

Thrugelmir

ilovehouses wrote: »

The consequences would be disruptive (to say the least) but it is relatively easy to do and the UK's debt after would be zero.

Government debt maybe. That still leaves a huge amount of other debt i.e. mortgages.

Devaluation of the £ would make UK assets even more attractive to overseas investors. Though not many airports, ports, hotels, prime commercial property, tech companies, Lloyds underwriters etc left to buy.