Worrying about the debt the UK is in

Post Reply New Topic

This recent quote has made me realise how HUGE a trillion is, it's bigger than my small mind can comprehend.

And the UK is in several trillions of pounds of debt due to this pandemic, and that amount of money will take about a thousand years to pay back. Debt is like putting on weight; it's easier and quicker to get into debt than paying it off. And I thought the financial crisis in 2008 was bad.

Governments of nations like ours spend a mind-boggling amount of money.

And sometimes I wonder how much of it is actual real money and how much of the money is Jedi mind tricks.
And then I have to stop wondering and go brush the cat or do model trains or something.

Have some fun with our US Treasury monthly statements.
https://fiscal.treasury.gov/reports-sta ... rrent.html
NOTE, they count only in billions, not trillions & a trillion is a thousand billion.

A few excerpts:

Title:
Monthly Treasury StatementReceipts and Outlays of the United States Government For Fiscal Year 2021 Through March31, 2021, and Other Periods

"Figure2. Cumulative Receipts, Outlays, and Surplus/Deficit through Fiscal Year 2021
Total Receipts $1,704 Billion 1.7 trillion
Total Outlays $3,410 Billion 3.4 trillion
Deficit $1,706 Billion" 1.7 trillion

Edit: I guess this should be noted,

The US is much worse, it's debt right now is 20 to 30 trillion.

The developed world has made a lot of blunders since the turn of the 20th century and is at the point now where it's all coming to a head.

I'm worried about the debt that Canada is in.

I cant resist posting this

He's mostly focused on the US but some of the general principals apply to other places as well.

How will these debts be paid off? Will it affect everyone? Putting taxes up ain't even going to make a dent in paying back like 10 trillion pounds/dollars/whatever. It will take centuries to pay back.

The debt isn't too bad in general terms. I would start worrying when the housing market starts to crash. The housing market is crazy at the moment it's shot up by around 10% in a year. This is sustainable. Its only a matter of time until the bubble bursts. Interest rates are already at record lows so there is no way out of this. The next thing to happen will be an increase in inflation and if wages don't rise we will all be in trouble.

Don't Worry About Matters Out of Your Control .

if Tax Rises , it is What it is . When You Start to See Through the Money System You Will Feel A Heck of Alot Happier Towards any Country Debt .. or Personal for That Matter .

The Money System is Designed to Trap Many .

My Main Worry is World Peace . But it's Very Apparent my Status & Will to Care Have Allowed Me to Accept the State of Play .

Support Local Business , and Devise Strategy to Manage Life with Minimal Thought of Money . . It's The Governments Problem .. Sending Cash Here n There .. and Funnelling Money . The Average Jo & Joanne Can Let That Thought Dissapear .

Does that mean every working class person will be living on the streets with lovely houses and apartments rotting around us?

No, people will just have to tighten their belts a bit and wait a bit longer to buy a new car.

The US may seem worse, but if one took the debt of the population, and then divided it up by the number of people living in the USA, the UK debt is much higher then in the USA (I think it was either 30 or 80 times higher) per person living there and this is the countries debt. Not personal debt.

What one needs to ask is where the money has gone (And I am talking pre-covid here).

To make things simple. We are facing a situation that is not possible. Every country in the world is in debt. That is not possible unless either a group of very rich leaders have stolen or taken all the worlds countries wealth, or it is all a great deception. The way money operates, there is no other logical situation which would not remedy itself.

To understand world economies, one first needs to understand how financial systems work, and to do this, the easiest way is to simplify them. Once one has looked into simplified currency then one starts to understand the see-saw nature of how currencies operate around the world. Naturally if one country is in debt, another country is in credit. This is the see-saw effect on how world currencies naturally work.
Now for all countries to be facing debts at the same time, someone somewhere is holding down the see-saw. Someone has either taken all the wealth for themselves, or is hiding (Disguising) the wealth via a deceptful magic trick.

If it was possible for all the world to be in debt, then it would be impossible for any country to obtain any extra funds to fight this world wide covid virus, because who could one borrow the money from if everyone is in debt? As one can't borrow money from anyone who does not have any money to borrow!

Yeah, what he said . Governments are very careful around monetary policy and don't want to get into hyperinflation like pre second world war Germany. The government's want to keep us on perpetual growth, which is also unrealistic.
There is always going to be peaks and troughs in the financial markets. You just need to try to benefit from the boom periods and be ready for the recession when it comes. Its cyclical, like a lot of other things in life.

Sorry, I couldn't help myself. Hail Octavius!

Wait until the population drops off. Everybody is having less kids nowadays, especially Caucasians. Then will the per-capita debt worsen.