Quote:
Originally Posted by Chris
You can’t just print money willy nilly. Sooner or later the money markets start pricing in the oversupply of currency and its value falls. That screws mightily with the value of all those billions of Euros squirrelled away in German savings accounts.
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If everyone is at it - which the EU, USA and UK are - the net change in the value of the currency against other major currencies is negligible.
---------- Post added at 22:04 ---------- Previous post was at 22:02 ----------
Quote:
Originally Posted by nomadking
The main problem the pension funds have is too high a cost ie defined benefit schemes, that were set in place by socialists. All exacerbated by the minimum wage, which means that a lot more money is taken out than was paid in to generate the income.
It wasn't the banks as such that were bailed out, it was the finance system. The risk was that nobody would invest in order for that money to be lent out on business loans and home mortgages. Where do you think the money comes from for those loans? It comes from people with surplus money.
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So they were squandering other people’s money without consequence. Got it.