Comments by "Aden Wellsmith" (@adenwellsmith6908) on "Why monopolies are harmful" video.

It's interesting that the General Records Office [now the passport office] runs a breeding book of the serfs. Just like the plantation owners used to do with their property, people and horses.
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state pensions as we know it for now, And now there's a 16 trillion pound pension debt. 30% of taxes goes on the debts. Wealth inequality, directly caused by that. Lack of investment - directly caused. Low take home pay - direct result Public austerity - direct result Pensioner poverty - direct result.
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Notice that with the water, the government is up to its neck in it.
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Exactly. Lets have a change to the HRA. Everyone has the right to explicit informed consent. One simple change deals with most of the problems.
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@OnlineEnglish-wl5rp I think there are two changes needed to the HRA. 1. Revoking the right to slavery for the state 2. Adding in article zero, Every one has the right to explicit informed consent. Which of those do you disagree with?
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Why is the state making a 30% gross profit margin on its services? The new model of government is extortion.
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@OnlineEnglish-wl5rp So which bit of running the breeding records is false?
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Exactly Andy. Look at the messes in the UK and the state is in the mix as the cause. On the no choice, we need a right of explicit informed consent as a basic human right. The right to say no without fear of retaliation. The left hate that.
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@stephfoxwell4620 Present value. Not future value. You are correct. The future values will be of 100 trillion order [if paid]. So look at the borrowing. 2.5 trillion but the payments are small. Payments on the pensions more, and the term of the debt is longer. Hence the actual debt is £16 trillion
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@stephfoxwell4620 is there is a difference between balance sheet ( the debt) and the cost of servicing the debt. Same for present value which goes on the balance sheet and the total amount paid out which is future value
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@stephfoxwell4620 600,000 pounds per taxpayer. Plus interest. If you think that is modest you must be a billionaire
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@stephfoxwell4620 The NHS, you pay for it in the year you get the service. The pensions were paid for in the past, to be paid in the future, which makes it a debt/liability. One test to see if that's the case, go to your local UNISON branch. Announce that to stop austerity, they won't be paid their pensions. I would suggest a stab proof vest. The legal definition is this. **A liability/debt is a present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from the enterprise of resources embodying economic benefits** I know that the UNISON members would agree with me, not you.
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@stephfoxwell4620 The other reason why the debt number matters. It tells you how much austerity is coming. Money going on debt doesn't go on services. Second part, you can watch the change year to year, and work out if it will be paid. It also measures the level of intergenerational debt transfer. Dumped on the young. When they default, for example by raising the retirement age, you can look at the debt number before and after and work out how much people have lost.
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@onandon-nq1zw The Civil service pensions are hidden in the small print. Why? Why does the state insist that companies and local authorities report their liabilities? Why, when a short fall in assets versus liabilities, did MPs vote themselves more money? If the liabilites are going to be paid, report them. You can then check and see of the growth matches GDP growth. You can watch the cost of serving the debt and see if that's increasing. Why is the state constantly cutting pensions if its 'affordable'? Other measures such as debt to gdp. debt to taxes. Debt costs to taxes. Debt costs to tax receipts less core spending. That's before we get into alternatives. But I know what your problem is. Socialist welfare state. It's that socialist word.
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@onandon-nq1zw Why are you so scared of the public knowing they are on the hook, and in particular for how much? I suspect you work for the public sector. We are then into the bankers are guilty scenario.
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@onandon-nq1zw There is no small print in the legislation governing the state pension system. Civil Service pensions are not included in the NIC State Pension Scheme and cannot be included in considering affordability of the latter. It's a different subject. You are conflating ========== There is no need for small print. It's the law. The state pension is the law. If the government has to default on the pensions, it has to change the law. The Civil service pension debts are on top of the state pension. It's another debt. So why does the label, borrowing, pensions, the EU, Nuclear clean up change whether is afford able or not. ========= To not get massive posts, I'll follow up for the others.
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@onandon-nq1zw MPS pensions. You claim that they are in with the civil servants. "PARLIAMENTARY CONTRIBUTORY PENSION FUND" is their pension set up. You can search for it and find their accounts Page 6 of the 2022 accounts Present value of Fund liabilities (1,040.1) Fair value of Fund assets 835.7 There you go, nearly a billion in assets. The civil service scheme has none. A deficit of 204.4 million. Expect them to tap the tax payer for that, again. Why did you say otherwise?
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@onandon-nq1zw But I've said this before: the State can't go broke and it will continue to exist unless there is such a n earth shattering catastrophe that pensions would be the least of everyone's worries. ========= Of course it can. It's INFLATION linked debt. It's not fixed rate debt. That means you have to tax to pay it. A transfer from the workers to the pensioners.
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@onandon-nq1zw There is no debt generated by State Pensions. IFRS, the standards the government says it uses states clearly its a debt. The NI fund is worthless. You cannot owe yourself money. An IOU to yourself is not an Asset. £16,000 bn owed, against what level of "assets"? It's not affordable. It's bust.
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@onandon-nq1zw With the various enabling legislation, the government has a duty to maintain affordability and viability of the state pension whilst remaining fair to those liable to NIC. ========= So Mr Average, if he retired at the start of the year. He's paid in NI. You are say so long sucker, you aren't owed a pension But the fairness bit. How much would he have had if his earnings, his wealth, had been invested? Post a number. We can see if that is fair. Because the debt has rocketed, for those contributing now its going to be worse.
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@onandon-nq1zw ven freezing pension increases for a period; ========== A default. Needs the law to change, which means its a debt. changing state retirement age Another default Increasing NIC funding Ah yes, gouge the young, the government has never reduced state pension amount in my long life-time What? Complete bollocks. They screwed women on the retirement age. They screwed men on the retirement age. All resulted in losses to people.
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@onandon-nq1zw Every developed country in the world has a state welfare system ie "welfare state" except the USA. No, the us has Social Security. A welfare state. So the test. Will you invest your entire wealth with me on the same terms and conditions as the state? I promise to try and find someone else to pay you back.
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