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Topic History of: National Debt - United Kingdom
Max. showing the last 5 posts - (Last post first)
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Barney |
Soon, interest on our increased National Debt (because of coronavirus) - will become one of our biggest expenses.
www.nationaldebtclock.co.uk
And, by the nature of the Debt - this cost will be never ending, continuing into the distant future. To be paid by many generations.
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wjlmarsh |
US civil was greenback printing of money
en.wikipedia.org/wiki/United_States_Note
At the heart of money supply, debt and national debt - is that the issue is - not dealing with the various problems "adequately" as they arise.
Simply put money can be "created", "debts cancelled" and a "good distribution" to right needs and people can be managed, plus good "controls".
Margaret Thatcher and the economist at the time ignored previous history and talked as I remember of one aspect only of controlling "the money supply".
Firstly taxation system is mainly a closed system restricted to taxation, of course, and with added borrowing. But by using national central banks and international co operation this taxation and borrowing aspect can always be improved to meet various economic needs, like debt cancelation, fair new money supply distribution to the poor - for example and not to the rich already or industry as happened in Germany which engineered the money supply and distrbution deliberately.
Of course in addition to "supply" / "distibution" there is "control" like against indiscrimate supply and counterfeiting.
Bottom line the issue is NOT really national debt as it can be concelled any time. But money management and internationalentities working together to deal with the immediate issues. Like many other things the issues can be managed better. (yes national debt is an issue but should not be the controlling and limiting issue only when it is obvious new money is needed and the debt reduced/cancelled)
2007 onwards saw many chnages to deal with the crash. History is full of good and bad examples of managing national and interntional money supply. Including the cancellation of debt.
Barney you raised the issue as of interest. So I have taken time to share my own observations. And I do not see national debt as the real issue but how it is viewed and how the other options are ignored. The overall goal should be to have a money system that serves the national economy and all citizens and the international economy and world citizens not the other way round. |
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wyot |
And your point is Barney? |
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Honey |
Barney wrote:
OBR now predicts a 13% reduction in our GDP.
The worst for 300 years - with the consequences unfathomable.
Although a major recession/depression is inevitable.
National Debt will go off the scale, with coronavirus costs.
Interest on the £2T debt is currently running at over £1 billion a week.
Soon this will rise dramatically - and could well be the straw that...
Could there possibly be an advantage to a recession?
I am surprised at how eager so many governments were to cause one. |
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Barney |
OBR now predicts a 13% reduction in our GDP.
The worst for 300 years - with the consequences unfathomable.
Although a major recession/depression is inevitable.
National Debt will go off the scale, with coronavirus costs.
Interest on the £2T debt is currently running at over £1 billion a week.
Soon this will rise dramatically - and could well be the straw that...
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