LOL Maybe I should have added by some.
Brexit humiliation
- Thread starter noseall
- Start date
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You could have added by whom, but you didn't.
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You're right, I'd never considered the social service this organization provides. They should get funding. Cheap beer saves lives!
Hic. Did shomebody shay there’s cheap booze about?
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Care to explain?
You're a clown and totally wrong!
Bankrupt is the definition of a debt that can never be repaid...
Care to tell us how the UK can pay it's debts when someone says, "can we have our money back?"
Oh that's right, you'll suggest just printing more...
Which devalues the currency even more!
"The Bank of England's intervention announced today was in response to a "run dynamic" on pension funds, Sky News' economic editor Ed Conway has been told.
If the bank had not intervened, there would have been "mass insolvencies of pension funds by this afternoon", he said.
"It's very similar in kind of wholesale terms to what we saw with Northern Rock when there was that run on that bank back in 2007," he explained.
"It's a vicious cycle. Essentially, people trying to withdraw money, which in turn sometimes leads inevitably to financial collapse.
"I am told there were a swathe of pension funds that, were it not for the government's intervention, would have essentially collapsed by this afternoon - that's how fast moving this crisis in the pensions markets was.
"It is the gilts market that lies underneath, that defines benefit pension schemes, all of whom are reliant on that market for their funding and for the structure of their investments.
"The scale of this crisis is now becoming clearer.
"We have seen a big reaction in those markets where the bank has gone and started to buy those securities, but it is an extraordinary day and an extraordinary event.
"They believe that they may have done enough now for the time being, it's a two-week course of emergency buying of some of these assets, but we have never quite seen anything like this before."
In other words, UK PLC is totally screwed...
And all those idiots boasting about short term pain for long term gain are completely wrong...
There will be no recovery from this...
Because UK PLC no longer has tangible assets!
If the bank had not intervened, there would have been "mass insolvencies of pension funds by this afternoon", he said.
"It's very similar in kind of wholesale terms to what we saw with Northern Rock when there was that run on that bank back in 2007," he explained.
"It's a vicious cycle. Essentially, people trying to withdraw money, which in turn sometimes leads inevitably to financial collapse.
"I am told there were a swathe of pension funds that, were it not for the government's intervention, would have essentially collapsed by this afternoon - that's how fast moving this crisis in the pensions markets was.
"It is the gilts market that lies underneath, that defines benefit pension schemes, all of whom are reliant on that market for their funding and for the structure of their investments.
"The scale of this crisis is now becoming clearer.
"We have seen a big reaction in those markets where the bank has gone and started to buy those securities, but it is an extraordinary day and an extraordinary event.
"They believe that they may have done enough now for the time being, it's a two-week course of emergency buying of some of these assets, but we have never quite seen anything like this before."
In other words, UK PLC is totally screwed...
And all those idiots boasting about short term pain for long term gain are completely wrong...
There will be no recovery from this...
Because UK PLC no longer has tangible assets!
I think the term net assets is a bit misleading.It seems to be a common misconception that worth is actual money and doesn't include any assets. LOL It even applies to people who own or part own a property. Part meaning yet more mortgage payments to make. Or one of the dual ownership schemes that have been around.
If you have a business that has assets such as buildings and liabilities such as mortgages, you net worth was calculated by subtracting your liabilities from the value of your assets.
Which in turn creates high inflation, which in turn devalues the capital debt.Care to explain?
You're a clown and totally wrong!
Bankrupt is the definition of a debt that can never be repaid...
Care to tell us how the UK can pay it's debts when someone says, "can we have our money back?"
Oh that's right, you'll suggest just printing more...
Which devalues the currency even more!
Care to tell us how many will suffer/die due to poverty/decimation of basic services whilst this happens?
I'll wager it'll be far more than the number with the 'virus'!
But hey, brexiteers as they have stated will enjoy all the pain won't they?
I wonder however if they'll be so happy when it's one of their own who ends up suffering/dying?
Stuck pigs and squealing loudly are words that come to mind!
So no explanation then.Care to explain?
You're a clown and totally wrong!
Bankrupt is the definition of a debt that can never be repaid...
Care to tell us how the UK can pay it's debts when someone says, "can we have our money back?"
Oh that's right, you'll suggest just printing more...
Which devalues the currency even more!
See post #86 for a simple description of govt fiscal ops.
Sure, more £s in the economy means the £ is devalued, sure.
Clueless.
Another hysterical rant about something that doesn't exist.
What, exactly, creates high inflation?
They will die anyway due to the policies pursued by the government long before this latest debacle.
This country is becoming unrecognisable.
They need to get the best brains from all the parties and form some sort of coalition to sort these problems out.
Britain is pulling in two different directions.
Printing to much money.
Not much printing these days, mostly digital.
Explain your reasoning.
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