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Quiet Sunday - the looming debt

Rare for one or other of us not playing? Means there no traffic and post-match arguments, I suppose? Coincidentally, after someone asking on the Jinkle thread, Bubble called me today! He asks after you all and threatens to look in sometime.

Anyway, it is the calm before the storm.

First we argued about going into lockdown.
Then argued about coming out of lockdown.
Then argued about taking advantage of our freedoms.
Then argued about going back into lockdown.
Then argued about coming out for x-mas (down Pointy)
Then the in out hokey cokey thing.
Then we argued about vaccines and who should get them.
Then the big out master plan (for viewers in England)

The next big argument is how we are going to pay for The £2trn debt?

Have posted this before but as a calibration raising either one of income tax rates, NI contributions or VAT by 1% bring in approx. £5bn annually which barely tickles the interest far less the principal sum.

posted on 1/3/21




Got stuff early am heading off myself.

G'night all.

Including you Zach

posted on 1/3/21

I'm still battering in

posted on 1/3/21

comment by PointyBirds (U21890)
posted 19 minutes ago
comment by The Mighty Quinn (U4099)
posted 18 seconds ago
<We can spot immigrants a mile off>

FFS it was 1846 my great great great Granny stepped aff the boat.

Let it go man.


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My Papa missed being on the Arandora Star by an absolute bawhair. He made it to Canada for his detainment.

A less bitter man you would never meet. Went back to Hamilton after the war and served the community that had turned against him for decades after.

Died at 96, still drinking a bottle of wine every single day. And still able to do chin-ups. My hero.
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Co incidence, I am Papa to my grand kids , live in Canada and drink a bottle of wine every day.

posted on 1/3/21

A coordinated bout of inflation is the way out of this covid debt crisis. If the main currencies - GBP, USD, Euro and maybe a couple others - all debase their currencies by the same amount proportionally then there is no significant damage done to any single trading zone. Also good news for people with mortgages as their LTV will drop, bad news for savers and pension funds. Far less long term economic damage than hiking up taxes or more austerity though.

comment by Silver (U6112)

posted on 1/3/21

Think you're overlooking the fact that mortgage interest rates will increase as well so maybe not good news as the battle begins with employers to increase wages and they begin a battle with consumers to increase their prices.

Modern economic theory suggests relatively small inflationary increase might be desirable but they're not going to let it go ape like the 70s with every cvnt striking - especially you know who.

posted on 1/3/21

comment by Silver (U6112)
posted 10 minutes ago
Think you're overlooking the fact that mortgage interest rates will increase as well so maybe not good news as the battle begins with employers to increase wages and they begin a battle with consumers to increase their prices.

Modern economic theory suggests relatively small inflationary increase might be desirable but they're not going to let it go ape like the 70s with every cvnt striking - especially you know who.
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HE MEANS TEACHERS!

posted on 1/3/21

comment by lauders (U9757)
posted 1 hour, 17 minutes ago
comment by Silver (U6112)
posted 10 minutes ago
Think you're overlooking the fact that mortgage interest rates will increase as well so maybe not good news as the battle begins with employers to increase wages and they begin a battle with consumers to increase their prices.

Modern economic theory suggests relatively small inflationary increase might be desirable but they're not going to let it go ape like the 70s with every cvnt striking - especially you know who.
----------------------------------------------------------------------
HE MEANS TEACHERS!
----------------------------------------------------------------------
Cheers mate.
Was racking my brains there.

posted on 1/3/21

comment by Magnum. (U22391)
posted 22 minutes ago
comment by lauders (U9757)
posted 1 hour, 17 minutes ago
comment by Silver (U6112)
posted 10 minutes ago
Think you're overlooking the fact that mortgage interest rates will increase as well so maybe not good news as the battle begins with employers to increase wages and they begin a battle with consumers to increase their prices.

Modern economic theory suggests relatively small inflationary increase might be desirable but they're not going to let it go ape like the 70s with every cvnt striking - especially you know who.
----------------------------------------------------------------------
HE MEANS TEACHERS!
----------------------------------------------------------------------
Cheers mate.
Was racking my brains there.
----------------------------------------------------------------------
Was being sarcastic.

Anyway. You can talk to me like that when you're not languishing miles behind heed in the predictor League

posted on 1/3/21

comment by lauders (U9757)
posted 23 minutes ago
comment by Magnum. (U22391)
posted 22 minutes ago
comment by lauders (U9757)
posted 1 hour, 17 minutes ago
comment by Silver (U6112)
posted 10 minutes ago
Think you're overlooking the fact that mortgage interest rates will increase as well so maybe not good news as the battle begins with employers to increase wages and they begin a battle with consumers to increase their prices.

Modern economic theory suggests relatively small inflationary increase might be desirable but they're not going to let it go ape like the 70s with every cvnt striking - especially you know who.
----------------------------------------------------------------------
HE MEANS TEACHERS!
----------------------------------------------------------------------
Cheers mate.
Was racking my brains there.
----------------------------------------------------------------------
Was being sarcastic.

Anyway. You can talk to me like that when you're not languishing miles behind heed in the predictor League
----------------------------------------------------------------------
So. Monday then?

posted on 1/3/21

comment by lauders (U9757)
posted 2 hours, 18 minutes ago
comment by Silver (U6112)
posted 10 minutes ago
Think you're overlooking the fact that mortgage interest rates will increase as well so maybe not good news as the battle begins with employers to increase wages and they begin a battle with consumers to increase their prices.

Modern economic theory suggests relatively small inflationary increase might be desirable but they're not going to let it go ape like the 70s with every cvnt striking - especially you know who.
----------------------------------------------------------------------
HE MEANS TEACHERS!
----------------------------------------------------------------------
I kinda get rapists and bank robbers.
We are what we are, but then there’s teachers
Shiftless is the word, if Dougie was here he would tell ye

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