Ad Infinitum, who pays the repayments read my post again. The rich will not keep paying more and more the burden hits the poor harder if they walk away. You keep borrowing yourself and see where it gets you.
Yes but like anyone knows, there is small debt and huge debt. Experian and transunion would agree. It is the scale that differs imho.
I am not arguing for austerity ffs i am arguing for pragmatism
And that in a nutshell is why this country is always going to be run to benefit the Tories and their ilk.
They've managed to convince you that reality is something completely different to the framework they govern with.
When I borrow, I borrow from someone else and I owe them the money.
The government borrow from the Bank of England. The government own the BoE (in a simplistic but totally real sense). If I own the source of my debt can I truly be said to be in debt?
State debt does not work the same way as household debt.
State debt does not work the same way as household debt.
State debt does not work the same way as household debt.
State debt does not work the same way as household debt.
State debt does not work the same way as household debt.
State debt does not work the same way as household debt.
State debt does not work the same way as household debt.
The UK can create as much capital as it wants. To control the flow it needs to tax that money back out of the system.
The reason they can pretend that we have a huge unmanageable debt is becasue they allow the super-rich to hoard cash outside of the system. This means it never gets removed and therefore stays on the balance sheet. This isn't an inflationary trigger though while it remains external (simplified explanation but close enough).
To get to zero debt (assuming that was ever anyones aim) you'd have to tax every penny. To reduce debt you therefore need to tax enough pennies to get where you want to be. Taxing from the top down reduces the burden on the already struggling - in an ideal world it wouldn't even be up for debate.
Too many people have been hoodwinked by "it could be you".