Quote:
Originally Posted by Pierre
You know, I had a fantastic JFman holiday, you have the auspicious accolade of being the only person I have used the ignore function on in my 17 year tenure to this site ( and I’m pretty sure it’s longer than that including previous incarnations)
So I take you off ignore and this is the first thing I read.
Complete bollocks.
Have you read the story on Sky news Today that earlier on In the pandemic the government couldn’t sell their bonds?
The money markets are just like banks, they look at your ability to pay, and any country that has no economy, no tax, or much reduced, tax income, and is shelling out free money to it’s citizens by the billion, would look like a tramp asking for a mortgage.
Anyway, when are you an Old Boy going to stop fooling yourselves and get a room already?
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Feel free to continue to ignore reality as you wish, however you cannot simply be offensive and dismiss the post as “complete bollocks” without any evidence whatsoever.
Another subscriber to the fallacy that Government budgets are somehow equivalent to household budgets. You do realise that this money doesn’t physically exist - there’s no pot of gold you can walk into the Bank of England and claim? It’s created and introduced into the economy, and just as easily rremoved, by the touch of a button on spreadsheets.
You have ignored the important role of Central Banks in increasing money supply and underwriting the Government position as a lender of last resort. I can’t meaningfully say any more than that and if you want to dismiss that as “complete bollocks” instead of engage with the subject then I can’t help you.
By simplistic analogy that’s like someone in the pub saying they can’t afford a round because they’ve got a fiver in their pocket forgetting they’ve got their bank card in their pocket and there’s a cash machine outside.