Accrington Web - View Single Post - Borrowing by the UK and Eurozone countries

mobertol · 12-06-2012, 21:52

I think the problem is not the paying back of the debts -no-one knows who they are as there are specialists/speculators who buy up debts - it's the paying off of the interest which is the hard part! The debt never actually gets reduced at all.

Michael Moore has produced some good documentaries about this and others...it's all beyond most ordinary mortals comprehension. Luckily i can manage my household accounts and not end up in debt as I have an old-fashioned system where i only buy what i can afford -i think the world monetary fund and banks in general need a few canny housewives to sort out the mess - not austerity but sensible use of available funds.

12-06-2012, 21:52	#2
mobertol God Member Join Date: Aug 2007 Location: Northern Italy Posts: 4,419 Liked: 1866 times Rep Power: 26229	Re: Borrowing by the UK and Eurozone countries I think the problem is not the paying back of the debts -no-one knows who they are as there are specialists/speculators who buy up debts - it's the paying off of the interest which is the hard part! The debt never actually gets reduced at all. Michael Moore has produced some good documentaries about this and others...it's all beyond most ordinary mortals comprehension. Luckily i can manage my household accounts and not end up in debt as I have an old-fashioned system where i only buy what i can afford -i think the world monetary fund and banks in general need a few canny housewives to sort out the mess - not austerity but sensible use of available funds. __________________ “Beauty is an experience, nothing else. It is not a fixed pattern or an arrangement of features. It is something felt, a glow or a communicated sense of fineness.” ~ D. H. Lawrence