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- - Coronavirus (https://www.cableforum.uk/board/showthread.php?t=33709417)

jfman

15-10-2020 19:53

Re: Coronavirus

Quote:

Originally Posted by OLD BOY (Post 36053905)

You tell me. You are the economist.

Spoiler alert: there isn't one.

Countries get by making interest payments and borrowing more to pay off the capital amounts down the road.

papa smurf

15-10-2020 20:05

Re: Coronavirus

Quote:

Originally Posted by jfman (Post 36053902)

What's the current repayment plan on the £2 trillion of debt we've got so far?

You're the economist,i'll leave it you to work out just keep your mitts of pensioners.

and beer.

nomadking

15-10-2020 20:05

Re: Coronavirus

Quote:

Originally Posted by jfman (Post 36053907)

Spoiler alert: there isn't one.

Countries get by making interest payments and borrowing more to pay off the capital amounts down the road.

Until they get to the point like Greece, Ireland, Spain, Portugal, Cyprus did, and you can't borrow any more.:rolleyes:

jfman

15-10-2020 20:06

Re: Coronavirus

This is where a Central Bank comes in handy.

papa smurf

15-10-2020 20:08

Re: Coronavirus

Quote:

Originally Posted by jfman (Post 36053913)

This is where a Central Bank comes in handy.

We're shut.

Mad Max

15-10-2020 20:10

Re: Coronavirus

Quote:

Originally Posted by papa smurf (Post 36053910)

You're the economist,i'll leave it you to work out just keep your mitts of pensioners.

and beer.

A huge :tu: for that one.

OLD BOY

15-10-2020 20:20

Re: Coronavirus

Quote:

Originally Posted by jfman (Post 36053907)

Spoiler alert: there isn't one.

Countries get by making interest payments and borrowing more to pay off the capital amounts down the road.

We can just forget what we need to pay back then. :rolleyes:

jfman

15-10-2020 20:26

Re: Coronavirus

Quote:

Originally Posted by OLD BOY (Post 36053920)

We can just forget what we need to pay back then. :rolleyes:

You've clearly misunderstood the post if that is your reply. Try again.

nomadking

15-10-2020 20:29

Re: Coronavirus

Quote:

Originally Posted by jfman (Post 36053913)

This is where a Central Bank comes in handy.

The governments of Ireland etc, COULDN'T borrow. They ran out of money.
Link

Quote:

Ireland had already exhausted all other avenues of funding: “We had already raided the pension fund and borrowings on the sovereign bond markets – which we were priced out of – in 2010,” Namawinelake explains so the option considered to be the best in the circumstances was to issue a promissory note.

Quote:

The repayment works like this: The government pays the money to IBRC, which gives it to the Central Bank of Ireland, which then destroys this money. This is done electronically in case you were thinking they were burning a huge wad of €100 notes on Dame Street.

:confused:

jfman

15-10-2020 20:31

Re: Coronavirus

Quote:

Originally Posted by nomadking (Post 36053925)

The governments of Ireland etc, COULDN'T borrow. They ran out of money.
Link

:confused:

Countries in the Eurozone don't have the same luxury

Hugh	15-10-2020 20:38

Re: Coronavirus

Quote:

Originally Posted by OLD BOY (Post 36053901)

Quote:

Originally Posted by Sephiroth View Post
What is the scientific advice trying to achieve? Is their mission to keep the number of simultaneous cases down?

They did that before and it's rampant now. Won't this just repeat itself?

Are we plebs wiser than SAGE?

I think we are, Steph. But we haven’t been called upon to serve. :D

Dunning-Kruger Effect in action... ;)

jfman

15-10-2020 20:42

Re: Coronavirus

Quote:

Originally Posted by OLD BOY (Post 36053920)

We can just forget what we need to pay back then. :rolleyes:

I'll explain it simply.

I borrow £100 from Mick for 10 years. Interest is £1 a year (which I pay each year), however inflation reduces the real terms value of my debt by £2 a year.

In 2030 I borrow £100 (which is only worth £80 in 2020 prices) to repay Mick from Paul and carry out the same wheeze.

Rinse and repeat until by 2070 I'm looking around for the 2020 equivalent of about £25 to repay Maggy., Who I borrowed from in 2060. The debt has cost me £10 each decade to maintain. Total cost less than total borrowed in real terms.

Obviously interest rates and inflation are percentages but the principle applies where inflation exceeds interest rates - which is pretty much going to be forever now because we can't afford the house price crash bringing the whole pozni scheme down.

Mad Max

15-10-2020 20:43

Re: Coronavirus

Quote:

Originally Posted by Hugh (Post 36053928)

Dunning-Kruger Effect in action... ;)

:D:D

nomadking

15-10-2020 20:46

Re: Coronavirus

Quote:

Originally Posted by jfman (Post 36053926)