Will there be a debt reset of everything

eskbanker

spencerrothchild said:

eskbanker said:

spencerrothchild said:

pdel61 said:

My only hope is that individuals learn from this and start to live more within their own means and to save for rainy days as they are sure to come eventually. 

Do you think the government should live by this advice?

What about the banks?

you can’t one rule for one and not the others

You're not seriously suggesting that national debt, corporate debt and personal debt should be lumped together and treated the same, just because they all have the word 'debt' in common?! 

So is this how you challenge the statement that 99.9% of the debt in the world is being defaulted on?

That statement isn't worth dignifying by responding to it!

spencerrothchild

eskbanker said:

spencerrothchild said:

eskbanker said:

spencerrothchild said:

pdel61 said:

My only hope is that individuals learn from this and start to live more within their own means and to save for rainy days as they are sure to come eventually. 

Do you think the government should live by this advice?

What about the banks?

you can’t one rule for one and not the others

You're not seriously suggesting that national debt, corporate debt and personal debt should be lumped together and treated the same, just because they all have the word 'debt' in common?! 

So is this how you challenge the statement that 99.9% of the debt in the world is being defaulted on?

That statement isn't worth dignifying by responding to it!

that’s the sort of thing they all said to Peter shieff when he first made the statement that 99.9% of debt in the world is being defaulted on

first they said no that can’t be true

then when they realised it is true they started to say pretty much what you said that there are different classes of debt and you can’t compare them all

whatever

the fact remains that 99.9% of the debt on the world is being defaulted on

eskbanker

spencerrothchild said:

the fact remains that 99.9% of the debt on the world is being defaulted on

OK, playing along with this for a bit then - if you believe it to be a fact rather than supposition then you should obviously be able to substantiate it.  What credible support can you cite for it, i.e. not bonkers conspiracy theory nonsense?

spencerrothchild

eskbanker said:

spencerrothchild said:

the fact remains that 99.9% of the debt on the world is being defaulted on

OK, playing along with this for a bit then - if you believe it to be a fact rather than supposition then you should obviously be able to substantiate it.  What credible support can you cite for it, i.e. not bonkers conspiracy theory nonsense?

The fact that most sovereign debt can’t be paid back, all they can do is borrow more.

if you think countries can indeed pay back their debts then please provide some credibility to your claim.

if you think all the counter parties to all the trillions in derivatives that just went toxic are able to pay back all those trillions then please provide the evidence 

these are rhetorical questions because you can’t provide evidence as everyone knows these debts can’t be paid back, all they can do is borrow more 

eskbanker

Thought not....

John_

spencerrothchild said:

The debt problems in the world were massive before the crisis

now they are beyond the point of no return

the debt problem in the world has no way out, all they can do is keep growing the debt which makes the problem worse

will the be a debt jubilee or debt reset?

not just the banks and sovereign debt but what about the people’s debts?

No, as others have said, things will continue as before. Debt forgiveness would be ludicrous. All banks would be bust immediately, and people like me who took out a big mortgage to buy my new house before selling the old one would be in effect gifted a house for no apparent reason.

John_

spencerrothchild said:

RelievedSheff said:

There is absolutely zero chance of debt just being written off due to this virus.

Well your wrong about that already when it comes to a lot of loans being turned into grants and the bank bailouts

What bank bailouts? I’m in several meeting each week with the treasurer of ours as we make our contingency plans around liquidity, and weirdly we’re not factoring any nonexistent bailout money into our numbers.

Where do we apply for this supposed bailout?

John_

spencerrothchild said:

eskbanker said:

spencerrothchild said:

pdel61 said:

My only hope is that individuals learn from this and start to live more within their own means and to save for rainy days as they are sure to come eventually. 

Do you think the government should live by this advice?

What about the banks?

you can’t one rule for one and not the others

You're not seriously suggesting that national debt, corporate debt and personal debt should be lumped together and treated the same, just because they all have the word 'debt' in common?! 

So is this how you challenge the statement that 99.9% of the debt in the world is being defaulted on?

There was a previous poster who used to make this claim. When presented with the facts he backtracked, and came up with another slightly less ridiculous but still wrong statement. Are you he?

Where do you get this idea from?

spencerrothchild

spencerrothchild said:

eskbanker said:

spencerrothchild said:

the fact remains that 99.9% of the debt on the world is being defaulted on

OK, playing along with this for a bit then - if you believe it to be a fact rather than supposition then you should obviously be able to substantiate it.  What credible support can you cite for it, i.e. not bonkers conspiracy theory nonsense?

The fact that most sovereign debt can’t be paid back, all they can do is borrow more.

if you think countries can indeed pay back their debts then please provide some credibility to your claim.

if you think all the counter parties to all the trillions in derivatives that just went toxic are able to pay back all those trillions then please provide the evidence 

these are rhetorical questions because you can’t provide evidence as everyone knows these debts can’t be paid back, all they can do is borrow more 

Thought not, no attempt to provide this evidence that the 99% of the debt in the world can ever be repaid

eskbanker

spencerrothchild said:

spencerrothchild said:

eskbanker said:

spencerrothchild said:

the fact remains that 99.9% of the debt on the world is being defaulted on

OK, playing along with this for a bit then - if you believe it to be a fact rather than supposition then you should obviously be able to substantiate it.  What credible support can you cite for it, i.e. not bonkers conspiracy theory nonsense?

The fact that most sovereign debt can’t be paid back, all they can do is borrow more.

if you think countries can indeed pay back their debts then please provide some credibility to your claim.

if you think all the counter parties to all the trillions in derivatives that just went toxic are able to pay back all those trillions then please provide the evidence 

these are rhetorical questions because you can’t provide evidence as everyone knows these debts can’t be paid back, all they can do is borrow more 

Thought not, no attempt to provide this evidence that the 99% of the debt in the world can ever be repaid

Oh I see, it's playground logic we're using is it?  OK - I have a purple unicorn in my garden, but I won't make any attempt to prove it, I'll just expect you to disprove it.  You say you can't?  Aha, it must be true then....