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

AG47

Farmer_Johnson wrote: »

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.

I'm saying it's going to be defaulted on.

The debts are growing not being paid back.

Farmer_Johnson

AG47 wrote: »

I'm saying it's going to be defaulted on.

The debts are growing not being paid back.

No, you did not say will, you said are. It’s still written up,there.

If you cannot make a sensible argument, at least try not to lie about what you wrote previously.

AG47

The debts are growing around the world

This means the debts are not being paid back and reducing, they are growing.

You can say the debts are being defaulted on, and you can definitely say the world debts will be defaulted on.

You can say it anyway you want, pick your poison

The-Joker

Farmer_Johnson wrote: »

No, you did not say will, you said are. It’s still written up,there.

If you cannot make a sensible argument, at least try not to lie about what you wrote previously.

The fact is 99.9% of debt in the world WILL be defaulted on.

You could say 99.9% of debt in the world is being defaulted on now, the difference between will be or is being, is just a matter of trust. Do you trust the governments to be able to reduce the deficits and actually pay off national debts? :rotfl::T:rotfl::T:rotfl::T:rotfl::T:rotfl::rotfl::rotfl::rotfl::rotfl::beer:

Malthusian

The question is whether government debt will be defaulted on in our lifetime, as it is of little interest to me whether the UK or its successor state inevitably defaults on its debt when the sun explodes.

The other question is what you should do about it, as if the UK does default on its debt tomorrow, those who buried their money under the mattress or gave their money to a crypto entrepreneur will not be in a better position than those who invested in mainstream investments; both groups will be screwed.

Those who think there is any realistic possibility of developed countries defaulting on their debt within a meaningful timescale (i.e. close enough that action can be taken) need to ask themselves when they last checked whether they might be wrong and the other 99.9% of the population might be right, and why they still hold this belief going forward. "I watched a YouTube video" is not a good reason.

AG47

Greenspan often said how they can guarantee any money amount, even quadrillions because they can just print it, but they can't guarantee the purchasing power

https://youtu.be/rd6q8LJw5lQ

Arklight

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

Relative incomes have flatlined since 2007, due to the financial crisis. Government spending on things people actually need (schools, hospitals, transport) rather than things people don't (bailing out rich people who work for investment banks that make bad investments) has fallen over.

Anyone with savings saw their interest rates slashed to nothing, and have been losing a nominal 2% - 3% per year since then due to inflation.

A common feature of your posts is that you continually confuse, "It doesn't affect me." With, "It doesn't affect anyone."

AG47

99.9% of the debt in the world being defaulted dosn't seem to affect anybody until it's too late

Then it affects everybody in the world

jonnygee2

You could say 99.9% of debt in the world is being defaulted on now

I agree you could say that.

It would be a really stupid thing to say and completely wrong. But you could say it anyway.

smitt32

Yes :cool: