Quote:
Originally Posted by Maggy J
So in other words it us who are to blame..not the bankers or the government because it's all a house of cards.
Tell me.How did I build this house of cards?Or was it erected in my name without it ever being explained to me?
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I am just talking about Government debt. The idea the whole world is in debt isn't correct, it's only correct if you remove private companies or individuals from the equation. It's obviously going to look like the entire world is in debt if you ignore privately owned debt. It isn't about who to blame, just answering the slogan that guy had written on the card.
The level of debt the Government takes out, the amount of bonds it issues, and how it manages it is their own problem. We're not at fault if our pensions are wrapped up in Government issued bonds after all (although I guess you could argue you're lending to a irresponsible borrower!
). As for the bankers they are the ones who so often in charge of their client's money and they're the ones who choose where to invest it. If they invest it in risky mortgages or banks then they're responsible.
I wouldn't say it's a house of cards either. More like a giant loop.