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Are We Heading For A Recession Like In The 30s?

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1 hour ago, poppet2 said:

There is only one way to overcome this, just print money. After all who is really going to know? 

 

 

Iv'e often wondered that... After all every country is in the same boat, why doesn't the world bank (or whoever is in charge) just print X number of billions , and distribute it amongst the worst hit countries.

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15 minutes ago, *Wallace* said:

Well we will.

Not if they don't tell us. Look, they can pretend we can't afford all our debts, but secretly be paying the country's debts, while pretending we can't afford anything, hence another excuse for cutbacks, just like we've had since 2008.

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20 minutes ago, poppet2 said:

Not if they don't tell us. Look, they can pretend we can't afford all our debts, but secretly be paying the country's debts, while pretending we can't afford anything, hence another excuse for cutbacks, just like we've had since 2008.

It's not imaginary debt. Do you have any idea how much of our tax payer's money goes to repaying national debt and its interest each year? 

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2 hours ago, poppet2 said:

There is only one way to overcome this, just print money. After all who is really going to know?

I did that as a joke about 20 years ago, a friend spent the £5 on a taxi fare. For every action, there is always a reaction.

Printing money for someone, will disadvantage someone else.

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15 minutes ago, El Cid said:

I did that as a joke about 20 years ago, a friend spent the £5 on a taxi fare. For every action, there is always a reaction.

Printing money for someone, will disadvantage someone else.

But providing the £5 was real money, what's the problem? The taxi driver was paid real money. 

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36 minutes ago, Domin0 said:

It's not imaginary debt. Do you have any idea how much of our tax payer's money goes to repaying national debt and its interest each year? 

The UK is £1,617.6 billion in debt. I know its not imaginery debt, hence more reason to print money. How do we know that China isn't printing money, or the USA, to pay for all their massive nuclear and space projects? How do we know whether every time the Middle East order our Harriet jump jets, they're not just printing money to pay us, rather than using their tax payer's money? How would we know, providing its real money they are paying us, what's the problem? 

Edited by poppet2

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1 hour ago, poppet2 said:

The UK is £1,617.6 billion in debt. I know its not imaginery debt, hence more reason to print money. How do we know that China isn't printing money, or the USA, to pay for all their massive nuclear and space projects? How do we know whether every time the Middle East order our Harriet jump jets, they're not just printing money to pay us, rather than using their tax payer's money? How would we know, providing its real money they are paying us, what's the problem? 

Rampant inflation for one.

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31 minutes ago, Domin0 said:

Rampant inflation for one.

Well if you look at the debt we are in today, we don't have rampant inflation. 

Once again, if money was printed to just pay for our every day debts, (not the national debt as that's too large and would be too noticeable if paid), who would know or ask where the money came from? 

 

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I will not experience it personally as thankfully my livlihood is recession proof.  However, more than overall damage to the national economy, it is the soical divide we should worried about as well.  We'll come out of it on the right side, but for the majority, I am afraid it will be quite brutal.  I have tried numerous times to advocate the advantages of more left wing policies for precisely situations like these were the majority will need to pull together for the greater good.  For whatever reason, the selfishness of the majority seems to not want to help each other.  So, I simply do not care for the greater good anymore.  I am just going to grab my popcorn and spectate.

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1 hour ago, Albert the Cat said:

I will not experience it personally as thankfully my livlihood is recession proof. 

 

That's what the undertakers also thought until this virus arrived!

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58 minutes ago, apelike said:

 

That's what the undertakers also thought until this virus arrived!

Good thing I am not an undertaker then. 

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