Re: Greek Workers Face Jail For Daring To Strike : Wed Feb 06, 2013 2:45 pm  

Big Graeme wrote:

But private debt is good (if not vital) for the economy as long as it is affordable.

Are you Gordon Brown?

It is not affordable. Otherwise, interest rates would be allowed to increase to more normal levels. Policy makers are simply playing for time before the inevitable happens.

Re: Greek Workers Face Jail For Daring To Strike : Wed Feb 06, 2013 2:47 pm  

Dally wrote:

If you count private as well as public debt I understand that the UK's aggregate indebtedness is larger.

So, you are saying that the debt profile in the UK is vastly different from the debt profile in Greece, so that puts us in the same situation as Greece, yes?

Re: Greek Workers Face Jail For Daring To Strike : Wed Feb 06, 2013 3:02 pm  

El Barbudo wrote:

Dally wrote:

If you count private as well as public debt I understand that the UK's aggregate indebtedness is larger.

So, you are saying that the debt profile in the UK is vastly different from the debt profile in Greece, so that puts us in the same situation as Greece, yes?

Whilst accusing others of being 'not bright'.

Re: Greek Workers Face Jail For Daring To Strike : Wed Feb 06, 2013 3:39 pm  

Rock God X wrote:

Whilst accusing others of being 'not bright'.

Or maybe just you!

Re: Greek Workers Face Jail For Daring To Strike : Wed Feb 06, 2013 4:28 pm  

Dally wrote:

Are you Gordon Brown?

It is not affordable. Otherwise, interest rates would be allowed to increase to more normal levels. Policy makers are simply playing for time before the inevitable happens.

Have you got any evidence that UK private debt is unaffordable? The proportion of said debt can not be compared to the Greek scenario because so many people have had their wages cut, or are now out of work that much of the private debt is unaffordable, however, whilst a proportionally higher percentage of people are still in work in the UK, they can continue to meet the payments of their debts.

Re: Greek Workers Face Jail For Daring To Strike : Wed Feb 06, 2013 4:42 pm  

Dally wrote:

UK aggregate debt is over 500% of GDP - proportionately twice as large as Greece's. (Source: Haver Analytics). So, yes, it would be false to compare us with Greece. If you build in the unfunded state obligations, we are indebted to the tune of 900% of GDP.

And what is the interest rate on that debt? Over how long? Secured on what assets?
Your comments re BoE interest rates also show how little you understand the current situation.

Re: Greek Workers Face Jail For Daring To Strike : Wed Feb 06, 2013 4:54 pm  

Dally wrote:

Rock God X wrote:

Whilst accusing others of being 'not bright'.

Or maybe just you!

Maybe, but either way, you're beginning to look even more ridiculous than usual. You said something incredibly stupid on the other thread, you're now repeating it on here, and no matter how many posters point out your stupidity, you fail to see it.

Re: Greek Workers Face Jail For Daring To Strike : Wed Feb 06, 2013 6:37 pm  

I have no concrete figures but according to Max Keiser on his show the Keiser Report the U.K's combined debt liabilities (government debt, private debt and future pension payments) far outweigh Greece as a comparison of GDP. However this is a moot point compared to the fact that workers who have not been paid for six months are now being threatened with long term prison sentences if they don't carry on working regardless. This is nothing short of state enforced slave labour within the so called 'democratic' EU.