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How long before the UK is bankrupt?


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Austin Allegro

OK, I know we are technically already, but can any economically minded people on here predict how long we've got?

I've come to the conclusion the only way this is going to stop is if the money runs out and we get a sterling crisis followed by hyperinflation, food riots etc.

Would be good to have a rough timescale of when this would be.

Of course, we can't predict what's going to happen with a Great Reset, if such a thing happens at all. My guess is if/when Biden gets in, that will start taking shape.

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Very true but if your furloughed at the moment you not going to be working again companies have found out how to operate with a much reduced staff.  Millions are going to be on the scrap heap 

The money can’t run out if we get a sterling crisis it will be a wholly engineered one to bounce us into the Euro or whatever new globo currency. The flaw in most people’s thinking is partly usin

Listen lads, it'll all be fine. About 6 years ago my parents bought a 160 meter squared house for £180K. Today, a 72 square meter house in the same area went on the market for £180K. Ke

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stokiescum

Can it wait until I’ve got about 6k stashed in cash and a shotgun license 

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The Generation Game
11 minutes ago, Austin Allegro said:

OK, I know we are technically already, but can any economically minded people on here predict how long we've got?

I've come to the conclusion the only way this is going to stop is if the money runs out and we get a sterling crisis followed by hyperinflation, food riots etc.

Would be good to have a rough timescale of when this would be.

Of course, we can't predict what's going to happen with a Great Reset, if such a thing happens at all. My guess is if/when Biden gets in, that will start taking shape.

When BTC goes to $295m. I've no idea what Cable will be doing at that point. Vince?

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201p

So far the economy has remained pretty resilient. Despite people being furloughed, and the delays at Dover from Brexit, the shop shelves are OK, and we know most shops and even warehouses don't keep a lot of stock.

I think with job automation, high productivity and a lot of services being digital to soak up incomes (people spend excess money on digital services, and cryptocurrency and other financial assets, property, land), hyperinflation in food has been kept at bay.

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stokiescum
2 minutes ago, 201p said:

So far the economy has remained pretty resilient. Despite people being furloughed, and the delays at Dover from Brexit, the shop shelves are OK, and we know most shops and even warehouses don't keep a lot of stock.

I think with job automation, high productivity and a lot of services being digital to soak up incomes (people spend excess money on digital services, and cryptocurrency and other financial assets, property, land), hyperinflation in food has been kept at bay.

Maybe true but some big credit card bills will be landing on doormats this week and we are going back into a big lockdown .people won’t be able to work childcare issues or have relatives watch the kids

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Chewing Grass
5 minutes ago, UmBongo said:

Will this year be a bad time to consider buying a house? o.O

No, the government will buy it for you with someone else's money.

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dgul

I don't know when, but I do know something about bankruptcy.

It'll happen slowly at first, and then all at once.

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eight
8 minutes ago, ad_ceng said:

Very true but if your furloughed at the moment you not going to be working again companies have found out how to operate with a much reduced staff. 

Millions are going to be on the scrap heap 

 

I've been furloughed once, quasi-furloughed once, and now, fuck knows. If the business is allowed to trade I am required. If not, well then obviously not. 

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Malthus
24 minutes ago, Austin Allegro said:

OK, I know we are technically already, but can any economically minded people on here predict how long we've got?

I've come to the conclusion the only way this is going to stop is if the money runs out and we get a sterling crisis followed by hyperinflation, food riots etc.

Would be good to have a rough timescale of when this would be.

Of course, we can't predict what's going to happen with a Great Reset, if such a thing happens at all. My guess is if/when Biden gets in, that will start taking shape.

Sometime in the 60’s I’d say however 

I think the canary’s that will give us an early warning of impending collapse will be economic migrants, when they stop coming and/or leave we’ll know the carcass of the UK economy has been picked clean 

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Yadda yadda yadda
18 minutes ago, ad_ceng said:

Very true but if your furloughed at the moment you not going to be working again companies have found out how to operate with a much reduced staff. 

Millions are going to be on the scrap heap 

 

Lots of them. I'd change that to those that have been furloughed continuously since April that are done. Those who got back to shop and hospitality work for at least a period have some chance.

Anecdotally a young relative did 400 online orders at a shoe shop, dispatched from the independent shop, on Boxing Day. So those small businesses with a bit of gumption are still using those they will need. It is those at chain shops, pubs and restaurants who still have some hope. Otherwise a long period on the dole.

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ad_ceng
5 minutes ago, SNACR said:

The money can’t run out if we get a sterling crisis it will be a wholly engineered one to bounce us into the Euro or whatever new globo currency.

The flaw in most people’s thinking is partly using outdated assumptions that are a hangover from the last century. The other is the idea that reality will bite. Reality won’t bite because they create the reality. If you think otherwise just look no further than a near year long pandemic created with nothing more really than some words on computer screens.

This it the most terrifuying thing I have read, it is far to true. We are now in a post truth / fact world

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Yadda yadda yadda

Just heard they're encouraging employers to furlough those who can't work because of childcare responsibilities. That means they're going to furlough those that will take the largest handouts when their jobs disappear.

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Austin Allegro
6 minutes ago, SNACR said:

The money can’t run out if we get a sterling crisis it will be a wholly engineered one to bounce us into the Euro or whatever new globo currency.

The flaw in most people’s thinking is partly using outdated assumptions that are a hangover from the last century. The other is the idea that reality will bite. Reality won’t bite because they create the reality. If you think otherwise just look no further than a near year long pandemic created with nothing more really than some words on computer screens.

Good point. I'm not entirely convinced though that there will be a seamless transition to the NWO/great reset or whatever you want to call it. Or could it be that one day they just announce the creation of some new global digital currency called the Obama or the Mandela or something, and say that all currencies are now pegged to it?

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nirvana
39 minutes ago, Austin Allegro said:

economically minded people

economists are full o shite and ignore basic maths so I wouldn't hold much hope there :P

I'll post my fave chart of the moment, how high will the pretty coloured lines go? oops soz that one doesn't include the BOE.....small fry xD

 

Screenshot_2020-12-17_16-58-48.png

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Loki
10 minutes ago, SNACR said:

The money can’t run out if we get a sterling crisis it will be a wholly engineered one to bounce us into the Euro or whatever new globo currency.

The flaw in most people’s thinking is partly using outdated assumptions that are a hangover from the last century. The other is the idea that reality will bite. Reality won’t bite because they create the reality. If you think otherwise just look no further than a near year long pandemic created with nothing more really than some words on computer screens.

...'kin 'ell :ph34r:

 

 

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Wahoo

Logically it will collapse.  The system is based on production and consumption.   The market will always win.

Despite the spin and talk of 'reset' the system at it's base level is stressed and will react accordingly.

It has to collapse and explains the flow into cryptocurrency.  A few people are getting out of fiat and it's having a massive driving effect on valuations.

I hope it does collapse.  But I hope we don't fry the World when the anger erupts.

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SomersetMatt

U.K. debt as a percentage of GDP is just over 101%.

Italy - 170%
France - 128%
Greece - 186%
Belgium - 120%
EU average -104%

EU’s own fiscal rules state that member borrowing should not be >60% of GDP! Whoops. 😂😂

This is before any Q320 borrowing. 

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stokiescum
11 minutes ago, SomersetMatt said:

U.K. debt as a percentage of GDP is just over 101%.

Italy - 170%
France - 128%
Greece - 186%
Belgium - 120%
EU average -104%

EU’s own fiscal rules state that member borrowing should not be >60% of GDP! Whoops. 😂😂

This is before any Q320 borrowing. 

Fucking ace

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nirvana
5 minutes ago, stokiescum said:

Fucking ace

yeah but he's only telling you part of the bedtime story, UK private sector debt is about 250% of GDP xD

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SpectrumFX

We've been bankrupt for at least a century.

Sterling is one of the worlds longest running confidence tricks.

xD

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Frank Hovis
23 minutes ago, SomersetMatt said:

U.K. debt as a percentage of GDP is just over 101%.

Italy - 170%
France - 128%
Greece - 186%
Belgium - 120%
EU average -104%

EU’s own fiscal rules state that member borrowing should not be >60% of GDP! Whoops. 😂😂

This is before any Q320 borrowing. 

We are fundamentally ok.

This Covid nonsense has been pissing away money that we can cope with losing.

It's pretty daft to have done that but it isn't a problem.

We however hit a problem if this Covid nonsense goes on beyond the next six months or something else bad happens.

Up to now we have been spending money we can afford to spend; however stupidly.

The question is what happens next.

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