joe's dire predictions.

[mikeey84]

So you tell us which bit is wrong Michael. Gwon, you know you want to.

Ah Josephine, I could quote the almighty himself, but you would accuse him of being controlled by Jewish people, so I am not gonna bother.

Stick to reading your rags, and leave the important decisions to the grown ups

That's it Michael. You run off with your tail between your legs - as usual. Worra plonka.

I shouldn't pander to imbeciles, but in case anyone has read that moneyweek article and is genuinely worried, the following blog debunks most of what they say far more eloquently than I could http://www.coppolacomment.com/2013/01/the-end-of-britain-not-yet.html?m=1

 

[WalksWithTurkeys]

So you tell us which bit is wrong Michael. Gwon, you know you want to.

Ah Josephine, I could quote the almighty himself, but you would accuse him of being controlled by Jewish people, so I am not gonna bother.

Stick to reading your rags, and leave the important decisions to the grown ups

That's it Michael. You run off with your tail between your legs - as usual. Worra plonka.

I shouldn't pander to imbeciles, but in case anyone has read that moneyweek article and is genuinely worried, the following blog debunks most of what they say far more eloquently than I could http://www.coppolacomment.com/2013/01/the-end-of-britain-not-yet.html?m=1

Yeah, that carp is old hat, utter nonsense written by and for imbeciles.

 

[joe-90]

The problem is that imbeciles don't understand the question, never mind the answer.

FACT: Under Eton Boy the amount that the UK owes has doubled. Did you get that? If Jeremy Corbyn had doubled the National Debt then the Torey press would be shouting from the hilltops, but it's their mate Dave that's fooked it up so they keep silent. Good eh. Now which part of that don't you understand?

 

[mikeey84]

The problem is that imbeciles don't understand the question, never mind the answer.

FACT: Under Eton Boy the amount that the UK owes has doubled. Did you get that? If Jeremy Corbyn had doubled the National Debt then the Torey press would be shouting from the hilltops, but it's their mate Dave that's fooked it up so they keep silent. Good eh. Now which part of that don't you understand?

What bit of "the amount of money isn't important, it's the proportion to GDP that counts" do you not get.

Don't get me wrong, I am no Tory boy, and I am not sure corbyn is the answer either, but plucking random figures out the air doesn't mean ****

 

[joe-90]

Let's make it a bit easier for you Michael I hate to see you struggle. If you have a credit card and it has ten thousand quid on it, then you double it to twenty thousand quid, is that a problem? It's not when interest rates are at a record low - but they won't stay that way, and when they rise, then the UK joins Greece. Simples.

 

[bernardgreen]

[1] You have a credit card with £ 10,000 on it and your monthly income is £ 10,000

[2] You have a credit card with £ 10,000 on it and your monthly income is £ 1,000

Which is the better of these two situations.

Answers in a post from Joe please.

 

[joe-90]

Are you saying that the UK is earning 10 times the amount it was doing since Gideon and co doubled our debt? I must have missed that bit. Thanks Bernard. I feel better now. Gideon Osbourne saves the world.

 

[bernardgreen]

Sarcasm to cover the lack of comprehension.

The point is that if a country is able to fund and possibly even repay the country's debt then that debt is not a serious hazard to the country's prospects. Even if the UK's debt has doubled in the past few years it still is well below the level at which it is beyond the UK's ability to fund it ( pay interest and maybe pay off some of the debt ) so it is not a hazard.

Do you have a mortgage ? As long as you keep up the re-payments and your house is worth more ( worse case is the re-sale value after re-possession ) than the outstanding amount of that very large debt you owe ( the mortgage capital sum plus any unpaid interest ) is no hazard to your continued living in that house.

 

[joe-90]

But interest rates won't stay at record low levels will they? When they rise the UK is sunk. House repossessions will happen everywhere. BTL Landlords will want higher rents but low wages and benefit caps won't allow that to happen. Use your brain man, don't believe the hype the Tory press are feeding you.

 

[jockscott]

the Chinese economy is grinding to a halt.

Apparently its' not the Chinese economy that's collapsing, but the Chinese stock market... There's a big difference.....
(if any stock market crashes, the only losers are those investors who "chicken out" and sell stock at a lower price, than they paid for it) Just hang on in there my yellow skinned friends)

 

[WalksWithTurkeys]

the Chinese economy is grinding to a halt.

Apparently its' not the Chinese economy that's collapsing, but the Chinese stock market... There's a big difference.....
(if any stock market crashes, the only losers are those investors who "chicken out" and sell stock at a lower price, than they paid for it) Just hang on in there my yellow skinned friends)

Indeed. Most investors in the Chinese stock markets are private individuals, unlike in the West and Japan. The markets wee overvalued.

 

[Brigadier]

But interest rates won't stay at record low levels will they? When they rise the UK is sunk. House repossessions will happen everywhere. BTL Landlords will want higher rents but low wages and benefit caps won't allow that to happen. Use your brain man, don't believe the hype the Tory press are feeding you.

Interest rates will only rise to a level that "the UK" can cope with.
It is also pretty meaningless to keep talking about "the UK", in this context - individuals may / will lose out, but "the UK" will still go on.
You're confusing micro- and macro-economics.

 

[Brigadier]

the Chinese economy is grinding to a halt.

Apparently its' not the Chinese economy that's collapsing, but the Chinese stock market... There's a big difference.....
(if any stock market crashes, the only losers are those investors who "chicken out" and sell stock at a lower price, than they paid for it) Just hang on in there my yellow skinned friends)

Indeed. Most investors in the Chinese stock markets are private individuals, unlike in the West and Japan. The markets wee overvalued.

Indeed indeed.

The average Chinese person with a bit of spare folding has little to do with it to get as return, except for buy property, or play the stock market. The latter of which, the government actively encouraged them to do.

 

[mikeey84]

But interest rates won't stay at record low levels will they? When they rise the UK is sunk. House repossessions will happen everywhere. BTL Landlords will want higher rents but low wages and benefit caps won't allow that to happen. Use your brain man, don't believe the hype the Tory press are feeding you.

Japanese interest rates have been below 2% since 1993. Why wouldn't ours stay low for a decade or more?

Do you understand what the interest rate is used for in macro economics? Do you understand the limitations of rate rises in the context of stabalising an economy exposed to global macroeconomic trends?

No, I don't suppose you do. The rags you read probably don't cover such things

 

[bernardgreen]

House repossessions will happen everywhere.

Yes that is true. But most will be houses that were bought by people who wanted more house than they could sensibly afford. Everyone who buys a house knows ( or should know ) that interest rates can rise at any time. Taking out a fixed rate mortgage can give security against interest rate increases but not everyone will pay the extra required to ensure they will not be hit by a increase in the interest rate.