Wio
Senior Member

I wouldn't say the documentary were particularly addressing the cost of policies. However, it did suggest that increased government spending in the public sector in Britain were a key factor behind the country's debt crisis. Generally, the reason for Britain's debt comes down to increased expansion of services in the public sector, which in turn has lead to the shrinking of the private sector... However, it's the private sector that determines real wealth in Britain, since in that sector all competitive production is done. So in other words, real wealth comes down to manufacturing, which in turn reduces the need to borrow money in the first place.

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Recently, there's been much talk about Britain printing money to get itself out of its debt crisis. Strangely enough that's the one thing Britain doesn't have a law against. They've given a rather pointless technical term for it too, just to make the idea sound more justified... "Quantitive easing" they call it... But no matter how you look at it, it's basically the equivelant of money laundering. The fact of the matter is, printed money has no real value... and so it's bound to incur inflation. However, the consequences of borrowing money is not too far from that of printing it... both drive inflation, and once the going gets really tough, banks become more reluctant to lend money... as is the case now.

Well... the way things are going at the moment, that's looking likely the case - so in that sense, I agree with you... some economists believe that as far as the next 5-10 years are concerned, Britain and other countries will be struggling just to prevent their outstanding debt balances from increasing. Pretty grim outlook, I'd say...

Uhm... well not exactly... This were pretty much a documentary based on the national debt in Britain alone. However, the debt figure itself seems to suggest that it's every bit as bad as other countries, such as USA and more recently, Greece... and the latter had to be bailed out by more fortunate countries such as France and Germany in order to keep its economy from collasping. But in any case, Britain's outstanding balance of 4.8 trillion pounds is no laughing matter, that's for sure... It could take the best part of a generation to pay off...

Distraction... yeah... I kinda know what you mean... that happens to be my weakness at times as well.

Ah, I see what you mean... I guess I must've overlooked a setting in my control panel and my VM privacy level may have been set to recieve VMs from friends and contacts only. If that's the case, then my bad... and I do apologise.

Anyways... I'm pretty good... although I'm still somewhat recoving from the shock of a documentary I saw yesterday about Britain's spiraling debt problem... I'm a brit, see?

And yourself?

Yeah... this is probably a random and strange way to open up a convo, but I can't help but admire your objective approach to discussions in the forums.

This is good. It'll take me some time to read over the full information, but this is definitely useful. Thanks

fixed

1. I felt like giving it to you, which is rather odd on to itself.
2. You can argue without getting personally involved~

You, good sir, are an awesome person!