Experts - chocolate teapot

bigadaj

badger09 wrote: »

You miss the point I was trying to make.

Several posters have suggested, quite strongly, that atush doesn't understand the concept of scientific theory. I simply suggested that with her background, she probably does.

Moving on....

The problem is the actual responses made would indicate that there is no real understanding of such things as scientific theory, hypotheses etc, even though they are from someone with an apparent scientific background.

Pincher

Glen_Clark wrote: »

You said The Swiss Franc shot up, so why can't sterling do the same?
A quick google shows Switzerland (debt to GDP ratio 34% and falling) UK (debt to GDP ratio 89% and rising)

The old joke is, a bear is chasing after us, but I just have to run faster than you can.

http://www.tradingeconomics.com/united-states/government-debt-to-gdp

Is US on 104.17%, and Japan on 229.20%?

It makes me feel so warm and fuzzy, that we are "only" at 89.20%.

bigadaj

Pincher wrote: »

The old joke is, a bear is chasing after us, but I just have to run faster than you can.

http://www.tradingeconomics.com/united-states/government-debt-to-gdp

Is US on 104.17%, and Japan on 229.20%?

It makes me feel so warm and fuzzy, that we are "only" at 89.20%.

Reasonable points but the us is in a too big to fail category that the uk isn't.

Japan's numbers look bad but it is predominantly financed by the Japanese themselves, so less threat of the plug being pulled.

U.K. Bonds should be safe as its one of the very few countries to have never defaulted but I'm not sure I'd have the level of confidence the yields currently imply.

Thrugelmir

bigadaj wrote: »

Reasonable points but the us is in a too big to fail category that the uk isn't.

Bigger just means there's further to fall. The US relies on Chinese buying. No one else has the money.

Glen_Clark

Pincher wrote: »

It makes me feel so warm and fuzzy, that we are "only" at 89.20%.

as long as you don't count Britain's off balance sheet debt like PFI
But thats still a lot higher than Switzerland who you were comparing with the UK.

BananaRepublic

bigadaj wrote: »

Maybe but you've missed the point of my missing your point.

There is purportedly value in economics, supposedly more than physics in most cases in our strange reality, yet it's the economists that appear to be more highly valued when no real value is added and often destroyed. Similar cases may be made for managers and the tyranny of the MBA, potentially in general management terms but pointedly when it comes to mergers and acquisitions that more often than not destroy value.

I'm not really sure why you started arguing, as you seem to be going off piste. To follow you down that path, yes a training in economics rather than physics does tend to mean more money in the pocket. It seems that those who handle money are adept at skimming some of it off. However, an economics or accounting background is actually useful in the business world. Too many physicists and scientists in general are obsessed with 'facts' and details, but miss the broad picture. And I know from experience that a research training in physics is not only of little use in most jobs, it is potentially very damaging, to the person and the employer.

Pincher

Glen_Clark wrote: »

as long as you don't count Britain's off balance sheet debt like PFI
But thats still a lot higher than Switzerland who you were comparing with the UK.

We are all DOOMED.

In the last days, people will be frantically looking for somewhere safe to run with their money. This Tsunami will wash up on one currency and then another, and then another, which is why sterling will have its turn. I'm just hoping sterling will end up one of the survivors.

Ironically, smaller currencies are less likely to collapse. I might try to salt some away in Taiwan NT$.

Glen_Clark

Pincher wrote: »

We are all DOOMED.

In the last days, people will be frantically looking for somewhere safe to run with their money. This Tsunami will wash up on one currency and then another, and then another, which is why sterling will have its turn. I'm just hoping sterling will end up one of the survivors.

Ironically, smaller currencies are less likely to collapse. I might try to salt some away in Taiwan NT$.

Seriously the thing that worries me about Sterling is not the (official) debt to GDP ratio compared to Switzerland. Its the rate of debt increase. Despite savage cuts to (some) benefits and investment, liabilities like PFI, 'Help to Buy' and bank bail out guarantees being shifted off balance sheet, and responsible cash savers fleeced to bail out the reckless (again), the 300 year old National Debt has still doubled in 6 years. :eek:
But maybe other countries haver similar skeletons in the cupboard?