99.9% of debt in the world will be defaulted on. Only 0.1% is paid back.

AG47

chucknorris wrote: »

What about the debt that you have, which you are trying to avoid paying back:

Any debt defaulted on will be part of the 99.9% of the debt in the world that is not paid back.

Only 0.1% of debt is ever paid back.

Out of $300Trillion that is still $300000000000

AG47

Correction 0.1% of global debt is 300000000000

This is how much is paid back.

This is how much is defaulted on 2.997e+14

GreatApe

Arklight wrote: »

Thank goodness we have people like you to unquestioningly accept everything is fine and tell us we should dare not challenge our betters.

That's the bedrock of all positive change.

95% of the positive change comes thanks to people like me, the engineers and the business men

5% of the positive change comes from the cry babies like you, who cry so much the above 95% group do something about it

The problem I have with your type is, we are in a car doing 80mph on the motorway it is nice and steady and we are making good progress. You claim you have a special magic which you will do to the engine to make the car go at 90mph. Well thanks but I am not willing to let you get under the hood and put a granade into it and hope that it works to improve this car. I am happy with the 80mph, your idea of speeding us up to 90mph does not interest me we are already moving at a very good speed so I am happy with the current car.
To make matters worse every time youve tried to mess with other car engines in the past the car slowed down a great deal or even started going in reverse

So thanks for all your ideas but no thanks, I am happy that the world is building 500 million homes each decade. And no its not going to the rich its going mostly to the very poor. I dont want to risk this great progress in improving human conditions just for the promise of an even faster car

AG47

GreatApe wrote: »

95% of the positive change comes thanks to people like me, the engineers and the business men

5% of the positive change comes from the cry babies like you, who cry so much the above 95% group do something about it

The problem I have with your type is, we are in a car doing 80mph on the motorway it is nice and steady and we are making good progress. You claim you have a special magic which you will do to the engine to make the car go at 90mph. Well thanks but I am not willing to let you get under the hood and put a granade into it and hope that it works to improve this car. I am happy with the 80mph, your idea of speeding us up to 90mph does not interest me we are already moving at a very good speed so I am happy with the current car.
To make matters worse every time youve tried to mess with other car engines in the past the car slowed down a great deal or even started going in reverse

So thanks for all your ideas but no thanks, I am happy that the world is building 500 million homes each decade. And no its not going to the rich its going mostly to the very poor. I dont want to risk this great progress in improving human conditions just for the promise of an even faster car

Its all fine and dandy to bury your head in the sand and hope everything will be fine, but Duetcher bank is the next Lehmn moment and the next too bib to fil that is now failing.

DB has 45-50 Trillion in toxic derivatives.

What happens if DB go down? The entire global financial system goes down that's what.

They have to bail out DB to save the worlds financial system aka 2008, but the yellow jacket movement will not let another bail out the bankster this time around

GreatApe

AG47 wrote: »

Its all fine and dandy to bury your head in the sand and hope everything will be fine, but Duetcher bank is the next Lehmn moment and the next too bib to fil that is now failing.

DB has 45-50 Trillion in toxic derivatives.

What happens if DB go down? The entire global financial system goes down that's what.

They have to bail out DB to save the worlds financial system aka 2008, but the yellow jacket movement will not let another bail out the bankster this time around

and when that happens will the cows stop producing milk, will the chickens stop laying eggs, will the worlds hydro power plants suddenly all explode will the roads railways and airports dissolve into the either will the oil gas and coal fields be abducted by aliens?

What actual wealth will be destroyed?

Go back to Lehman, fast forward 10 years and what has happened to the world? Max max 7? No fast forward a decade and the world has built an additional 500 million homes, a huge amount of additional infrastructure and wealth. The world is in a better state today than it was a decade ago.

Whatever fantasy you can think of its very unlikely to happen and if it does, just like Lehman, it wont lead to mad max 7 despite your best hopes and wishes of Armageddon

The-Joker

GreatApe wrote: »

and when that happens will the cows stop producing milk, will the chickens stop laying eggs, will the worlds hydro power plants suddenly all explode will the roads railways and airports dissolve into the either will the oil gas and coal fields be abducted by aliens?

What actual wealth will be destroyed?

Go back to Lehman, fast forward 10 years and what has happened to the world? Max max 7? No fast forward a decade and the world has built an additional 500 million homes, a huge amount of additional infrastructure and wealth. The world is in a better state today than it was a decade ago.

Whatever fantasy you can think of its very unlikely to happen and if it does, just like Lehman, it wont lead to mad max 7 despite your best hopes and wishes of Armageddon

Ask yourself what would have happened in 2008 if the banks had NOT been bailed out?

This is what will happen in GFC 2.0.

phillw

The-Joker wrote: »

Ask yourself what would have happened in 2008 if the banks had NOT been bailed out?

They wouldn't have paid themselves huge bonuses with the cash & we wouldn't be out of pocket. Maybe the RBS £200 million case wouldn't still be dragging on.

There are of course other issues that will have arisen. It's really hard to predict.

How they were bailed out is just as important of course.

GreatApe wrote: »

and when that happens will the cows stop producing milk,

Without the massive amounts of hormones being pumped into them, yes.

GreatApe wrote: »

will the chickens stop laying eggs

Intensive farming is very cost sensitive, the farmers won't keep the birds alive out of charity.

GreatApe wrote: »

What actual wealth will be destroyed?

That is difficult to predict, it could be your pension. It could be your local governments investments so they won't be able to afford to pay to collect rubbish or bury dead people. Things will get very bad very quickly & it will not wait around for the reality to sink into you so that you can change your mind.

GreatApe wrote: »

So thanks for all your ideas but no thanks, I am happy that the world is building 500 million homes each decade. And no its not going to the rich its going mostly to the very poor. I dont want to risk this great progress in improving human conditions just for the promise of an even faster car

You're driving too fast in the wrong direction because you're misreading the map.

GreatApe

The-Joker wrote: »

Ask yourself what would have happened in 2008 if the banks had NOT been bailed out?

This is what will happen in GFC 2.0.

Sure it will you keep telling yourself that

GreatApe

phillw wrote: »

You're driving too fast in the wrong direction because you're misreading the map.

In the last 10 years +500 million additional homes

that is all I need to know that the system the world currently operates in is doing amazingly well long may it continue

Even if I was a die hard communist this fact would be enough for me to keep my mouth shut for at least the next 30 years and let capitalism build out the infrastructure people need

Farmer_Johnson

AG47 wrote: »

Trump defaulted on billions, as well as inheranting billions.

Anyway that bloke in you illustration did pay his debt off, so he is part of the 0.1% of debt that doesn’t get defaulted.

Most of the debt in the world is sovereign debt and the big banks debt, this is the 99.9% of debt that is defaulted on.

Where are you getting the idea from that most sovereign debt is defaulted on? It’s clearly not true. I was at a presentation by a European government last month about their 2019 borrowing requirements. Most of it will be funded in short term notes, to give them flexibility, and all of that gets paid back every few months.

You have provided no evidence for your assertion, and it is self-evidently a lie.