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

antrobus

Mmm.

If 99.9% of the debt in the world will be defaulted then obviously every bank in the world is going to crash and burn,

So I don't understand why, in other threads, AG47 has been promoting a run on the banks? Why go to all that effort, when they're all going to die anyway.? Just sit back, enjoy the last coffee that you'll ever be able to drink, and await the pending cataclysm.

Of course, it is entirely possible that someone is a few sandwiches short of a full picnic lunch. Allegedly. (God knows whether I'm allowed to suggest such things.)

AG47

antrobus wrote: »

Mmm.

If 99.9% of the debt in the world will be defaulted then obviously every bank in the world is going to crash and burn,

So I don't understand why, in other threads, AG47 has been promoting a run on the banks? Why go to all that effort, when they're all going to die anyway.? Just sit back, enjoy the last coffee that you'll ever be able to drink, and await the pending cataclysm.

Of course, it is entirely possible that someone is a few sandwiches short of a full picnic lunch. Allegedly. (God knows whether I'm allowed to suggest such things.)

There still has not been any good arguments coming up with ways for the debts to ever be paid back.

Everybody knows these debts can never ever be paid back, all that can be done is increase the size of the debts.

After all what is solution to the problem of too much debt and growing every year?

I know the answer..... more debt that will help.:rotfl::rotfl::rotfl:

Autumn86

AG47 wrote: »

Global debt increased at the fastest rate ever in history at the beginning of 2018. In just one quarter, total global debt jumped by more than $8 trillion. That is quite surprising as total world debt rose by $22 trillion for the full year in 2017. Thus, the increase in global debt last year averaged $5.5 trillion each quarter.

Estimations are global debt for this year 2018 will be near to $30 trillion when all the numbers from around the world come in.

This is impossible to be paid back. The only way to pay the interest is by borrowing more, and that has interest on it, and so on.

This is why only 0.1% of debt in the world is actually paid off. It’s very unfair for those who actually pay off their debts when 99.9% of debt will not be paid off.

Who cares? lol

It all balances itself out in the end.

antrobus

AG47 wrote: »

There still has not been any good arguments coming up with ways for the debts to ever be paid back.

Everybody knows these debts can never ever be paid back, all that can be done is increase the size of the debts.

After all what is solution to the problem of too much debt and growing every year?

I know the answer..... more debt that will help.:rotfl::rotfl::rotfl:

Come on, on that 'toxic derivatives' thread I have caught you posting complete and utter lies. So why should anyone believe anything that you have to say?

antrobus

The-Joker wrote: »

.... Do you trust the governments to be able to reduce the deficits and actually pay off national debts?

Depends on which government.

Norway, yes, they don't have a deficit.

UK, yes, the deficit has been reduced from 10% to 2% and is now sustainable.

Venezuela, hell no.:)

phillw

AG47 wrote: »

There still has not been any good arguments coming up with ways for the debts to ever be paid back.

Defaulting on your debt is entirely different to continually extending your repayment period.

If you borrow from a loan shark then they love it if you continually extend, you can end up paying 10 times what you borrowed. Even if you finally go bankrupt then they've made a fortune out of you.

I'm not a country, so my ideal debt strategy is going to be different.

John_G_Jones

antrobus wrote: »

Come on, on that 'toxic derivatives' thread I have caught you posting complete and utter lies. So why should anyone believe anything that you have to say?

I’d give him the benefit of the doubt, it may not be lies, his mother may have smoked really heavily during pregnancy.

Pennywise

Before you get your knickers in a twist about debt, you have to consider the two more important matters. Firstly, whether you can afford the repayments, Secondly, whether your underlying assets are worth more than the debt. The number itself is pretty irrelevant.

If the UK state has "assets" of, say, £5billion, i.e. land, buildings, investments, minerals, etc., Then if it's "debt" is £3billion, is that a problem? I'd say that as long as interest rates are manageable and the debts can be repaid when due (even by borrowing from a different lender), then it's not a problem.

However, the other way around is a massive issue, i.e. debts of £5billion but assets of only £3billion, you have a problem as you're higher risk, so fewer people are willing to lend to you, interest rates will be higher, etc.

Bring it down to micro level. If you buy a new car on HP, you're in debt, but it's fine because you can afford the repayments and the car has a value so you could sell it to repay the balance if you had to. However, if you take out a loan for a holiday, you've a problem as you've nothing to sell if you can't afford the repayments.

AG47

phillw wrote: »

Defaulting on your debt is entirely different to continually extending your repayment period.

If you borrow from a loan shark then they love it if you continually extend, you can end up paying 10 times what you borrowed. Even if you finally go bankrupt then they've made a fortune out of you.

I'm not a country, so my ideal debt strategy is going to be different.

Some people continue paying £1 per month token payment on huge insecured debts,

Techniqually they haven't defaulted yet

But the default has happened just like the world economy. There is no hope of paying off global debt