Comments by "" (@blackbulldog4897) on "The government’s latest accounts show its debt’s fallen massively" video.

  1. No, not bankrupt, or anything like. The UK is a self-financing state.
    6
  2.  @hughwilliams5995  Fiscal health and fiscal sickness aren't the best way to look at things are they? Better to look at resources available to govt and how it's willing to use them (or not) for the public good.
    6
  3. Even if it were possible it wouldn't make any difference to the amount of £s govt has to spend.
    4
  4. Austerity has always worked, it does exactly what it says on the tin. It's purpose is to keep the workforce disciplined, it works every time.
    4
  5.  @charlesc266  sure, but the problem is, apart from a brief period after WWII, the economy has never "worked for everyone".
    3
  6. Well, either they do know how our fiat money system works and they are gaslighting OR they don't know how our fiat money system works. Which is worse?
    2
  7. It's not a stupid question. Firtly, Gilt holders are not "investors" they are simply people who choose to hold govt securities over any other asset (cash, shares etc.) Gilt holders don't set the rates, the DMO does, GEMMS have to buy bonds at issue otherwise they lose their licence. There is a registry of holders it's called CREST.
    1
  8. Selling bonds doesn't "raise money". Bonds are sold, by political choice, to drain any excess reserves govt injected earlier.
    1
  9. The UK govt can always meet any bill denominated in £s.
    1
  10.  @mceajc  We have a currency issuing govt with it's own fiat, floating currency; that means it never faces any purely fiscal constraint, the constraints it faces are availability of resources at a price it's willing to pay and politics. Future pensions aren't difficult to fund, they are funded in the same way as all other govt spending; vis parliamentary authority and HMT instructing the BofE to mark up accounts of recipients. Given the above and the fact that the state pension is a question of how much of current production those under pension age are prepared to give up to those over the pension age (not very much in the UK) how do you see "higher inflation, currency devaluation" in that context?
    1
  11. A"nything we can actually do, we can afford".
    1
  12. If you are truly concerned about the "national debt" then you can do your bit to bring it down, send all your net financial assets to HMT.
    1
  13.  @theotherside8258  State pension is a matter of how much of current production those under pensionable age are prepared to give up to those at or above pensionable age. It's a transfer from those currently working to those over the set age.
    1