meanreversion
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What are the advantages of a purely mechanical Ponzi scheme, as compared to a discretionary one?
Public sector net debt is 62% of gdp £820bl...OUCH
- Thread starter Black Swan
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Exactly! Thank God you said this, I was starting to think I was only person left in the world who hasn't lost his mind.
How Comrade Brown and his shrivelled band of syphilitic p1ss-whistles thought they could get away with this particular bit of spin is absolutely beyond me.
On the other hand, he wasn't nailed on it, so it just goes to show you.
N Rothschild
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it is highly probable that a ponzi scheme is to complicated for odt to understand.
There are Ponzi schemes and Ponzi schemes. Some, they put you in gaol for. Others, like public sector pensions, or state pensions, appear to be fine.
Strange.
meanreversion
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I feel as though I've slipped into a parallel universe sometimes. How Labour still have 30 pct support is beyond me.. it must simply be the 6mio public sector workers who have been looked after so well. The end is nigh, it doesn't really matter what you believe any more, the piper has to be paid.
I think this is a big part of the problem. Joking and abuse aside, there are simply too many people, whether through employment or social security, that are dependent upon the state for part or all of their income and are net takers. Not only that, but much of the activity of many employees of the state hinders wealth creation. Not to mention the loss of benefit to the nation were they to have a job that was economically productive. A triple-whammy to our prosperity.
But I'd be surprised to learn that turkeys have started voting for Christmas, so the show goes on.
The piper does have to be paid, but we'll do anything to avoid admitting it.
meanreversion
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This is like one of those films where a couple of workmen are moving a large sheet of glass across a street. You know the car is going to smash through it at some point, you just don't know when.
findlay234
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I agree with the majority here.
13.5 million private sector full time workers..... we can split the national debt between us and expect to pay it off for a number of years, on top of your mortgages and other debts (if you have any). not only paying off the national debt, we few, we happy(?) few, we band of brothers have the task of growing the economy and the creation of wealth in this country...
13.5 million private sector full time workers..... we can split the national debt between us and expect to pay it off for a number of years, on top of your mortgages and other debts (if you have any). not only paying off the national debt, we few, we happy(?) few, we band of brothers have the task of growing the economy and the creation of wealth in this country...
SvenFoster
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round them up....
put em in a field...
and...........
put em in a field...
and...........
meanreversion
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give them above inflation pay rises!
SvenFoster
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And you say your UK based
the shame... you must be only a bairn if you dont know who that was
B
Black Swan
B
Black Swan
Since the start of *the great recession*
'official' unemployment has risen by circa 1.5million, however, the public sector 'work force' has grown by 300,000. Even in the past 3 months public sector employment has grown by 60K as the private sector lost circa another 150K jobs. I don't engage in the sport of public sector employment bashing, however, state employment ballooning, to finally become a greater employer than the private sector over the next decade, really troubles me...You can see why manic statists such as Brown and Blair, with their twisted version of Marxist ideology, thought you could have a Nu Lab mixture of capitalism and socialism working hand in hand and to a degree I empathise with the simple blue sky thinking they employed at the time...
"Look Gordon it's this simple; we employ more and more in the public sector (and it doesn't matter what the jobs are, just make 'em up), they then go out and buy: general imported tat, cars, and houses with the fiat curency we create by increasing the money supply exponentially each year for a decade. The service and financial sectors balloon as a consequence and none of the above will ever vote us out, the job's a good un..!"
Blair mumbles under breath, "Oh, and and it'll be all yours once it starts to go tits up.."
And you say your UK based
A little before my time, yes.
meanreversion
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I'm numb to all this now. We're on a leaking raft about to enter the rapids, and we lost the oar a mile back. What's the name of this creek? I forget, think it rhymes with 'hit' .
Chill out.
We can always go the IMF. Or the Russians.
Better get our defaults in early though, there could be quite a queue if we leave it much longer.
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meanreversion
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I wonder if Gordon will be able to save the world again once he has been booted back to his constituency in Scotland.
