What Will Happen When The Pyramid Of Debt Collapses? : Sat Sep 21, 2013 4:25 pm  

Remember when Lehman Brothers Bank collapsed? Gordon Brown bailed out the banks because this is what he was scared of - "If the banks are shutting their doors, and the cash points aren't working, and people go to Tesco and their cards aren't being accepted, the whole thing will just explode. "If you can't buy food or petrol or medicine for your kids, people will just start breaking the windows and helping themselves. "And as soon as people see that on TV, that's the end, because everyone will think that's OK now, that's just what we all have to do. It'll be anarchy. That's what could happen tomorrow." http://www.independent.co.uk/news/uk/po ... 31362.html However it was only a stop gap because now we are seeing a Sovereign Debt crisis. All these Austerity measures are hurting the average man financially but we aren't even halting the deficit, never mind actually paying off any Government debt! So if governments were the last resort to save the system what will happen when they eventually go bust and this whole global ponzi scheme collapses?

Remember when Lehman Brothers Bank collapsed? Gordon Brown bailed out the banks because this is what he was scared of - "If the banks are shutting their doors, and the cash points aren't working, and people go to Tesco and their cards aren't being accepted, the whole thing will just explode. "If you can't buy food or petrol or medicine for your kids, people will just start breaking the windows and helping themselves. "And as soon as people see that on TV, that's the end, because everyone will think that's OK now, that's just what we all have to do. It'll be anarchy. That's what could happen tomorrow." http://www.independent.co.uk/news/uk/po ... 31362.html However it was only a stop gap because now we are seeing a Sovereign Debt crisis. All these Austerity measures are hurting the average man financially but we aren't even halting the deficit, never mind actually paying off any Government debt! So if governments were the last resort to save the system what will happen when they eventually go bust and this whole global ponzi scheme collapses?

Re: What Will Happen When The Pyramid Of Debt Collapses? : Sat Sep 21, 2013 5:06 pm  

The answer is very simple.

All the Tory/right wing apologists will blame EVERYONE except themselves. They will continue their selfish, me, me, me , nasty inhumane attitude towards anyone who has a conscience.

Should anyone have the temerity to do anything about it they will be castigated as communists/leftists/socialists/feckless/lazy et people who don't deserve anything because they want it all for themselves.

They may let you work for them (to make them rich) but you may have to work for nothing, get a zero hours contract and be downright grateful that you have that but also with the proviso that should it go wrong then it will be absolutely your fault and they have no responsibility at all but the rewards still belong to them.

One thing to brighten the day though, Should the whole edifice collapse the people at the "top" will suffer first. They have no life skills or know how to survive in ever changing situations. The people at the bottom do and a big house, Rolls Royce, and yacht are no good if you have a hungry stomach and
are clueless on how to do things you always needed the "little" people to do.

Re: What Will Happen When The Pyramid Of Debt Collapses? : Sat Sep 21, 2013 6:27 pm  

The Tories/Lib Dems will still blame Labour, it will never be their fault.

Re: What Will Happen When The Pyramid Of Debt Collapses? : Sat Sep 21, 2013 7:06 pm  

HullFC50 wrote:

The Tories/Lib Dems will still blame Labour, it will never be their fault.

I didn't see Blair or Brown accepting anything as their fault either - and Balls and Cooper live in a bubble that excludes any errors that happened under their watch.

WMD - it wasn't Blair's fault that we invaded a country on the back of dodgy data? The banking crisis in the UK had nothing to do with lax regulation under Brown etc

Re: What Will Happen When The Pyramid Of Debt Collapses? : Sat Sep 21, 2013 8:36 pm  

Sal Paradise wrote:

... The banking crisis in the UK had nothing to do with lax regulation under Brown etc

Which had nothing to do with continuing the policies and economic philosophy unleashed most strongly in this country by Margaret Thatcher.

It's darkly funny to see some on the right complaining about a government reducing regulation. Usually, they're crying out for ever more deregulation.

Re: What Will Happen When The Pyramid Of Debt Collapses? : Sat Sep 21, 2013 8:52 pm  

Mintball wrote:

Which had nothing to do with continuing the policies and economic philosophy unleashed most strongly in this country by Margaret Thatcher.

It's darkly funny to see some on the right complaining about a government reducing regulation. Usually, they're crying out for ever more deregulation.

“I fear that much of this regulation has been burdensome, complex and makes cross-border market penetration more difficult.

“This is exactly the wrong direction in which Europe should be heading and it threatens the global competitiveness of the City of London.”

I'd like to play a little game, who can guess which politician said this and when?

Re: What Will Happen When The Pyramid Of Debt Collapses? : Sat Sep 21, 2013 9:25 pm  

In answer to the question alot of people will die as the food distrbution system, etc, etc is too fragile. The streets will not be safe and contrrolled by gangleaders. The army will be set on the population to try to restore order.If the army can't be paid then mayhem will continue. The wealthy will scarper. The rest will live in hell.

Re: What Will Happen When The Pyramid Of Debt Collapses? : Sat Sep 21, 2013 10:30 pm  

I think the political blame game and points scoring will mean nothing to those badly affected on the street.

But it seems that's all people can focus on here. Perhaps that tells us something.

Re: What Will Happen When The Pyramid Of Debt Collapses? : Sun Sep 22, 2013 2:42 am  

Leaguefan wrote:

The answer is very simple.

All the Tory/right wing apologists will blame EVERYONE except themselves. They will continue their selfish, me, me, me , nasty inhumane attitude towards anyone who has a conscience.

Should anyone have the temerity to do anything about it they will be castigated as communists/leftists/socialists/feckless/lazy et people who don't deserve anything because they want it all for themselves.

They may let you work for them (to make them rich) but you may have to work for nothing, get a zero hours contract and be downright grateful that you have that but also with the proviso that should it go wrong then it will be absolutely your fault and they have no responsibility at all but the rewards still belong to them.

One thing to brighten the day though, Should the whole edifice collapse the people at the "top" will suffer first. They have no life skills or know how to survive in ever changing situations. The people at the bottom do and a big house, Rolls Royce, and yacht are no good if you have a hungry stomach and
are clueless on how to do things you always needed the "little" people to do.

That's great. Do you have anything constructive to add. Or are you just using this thread as an anti-Tory rant?

Re: What Will Happen When The Pyramid Of Debt Collapses? : Sun Sep 22, 2013 5:56 am  

Mintball wrote:

Which had nothing to do with continuing the policies and economic philosophy unleashed most strongly in this country by Margaret Thatcher.

It's darkly funny to see some on the right complaining about a government reducing regulation. Usually, they're crying out for ever more deregulation.

Not at all - all I am saying is politicians of any persuasion will never accept that they get anything wrong - it is never their fault, that is their stock in trade.

I agree Major and co could have done more but so could Brown who was even worse at get cosy with the rich. An example of which was illustrated only two weeks ago. Vodafone sold a huge interest in an American telecoms company, the profits for which would not be taxed if they were within the UK tax system - why because Gordon Brown changed the rules to make one off profits from disposals exempt!!

I see you omitted to comment on the WMD stuff!! - this is exactly what I mean when I say you are selective about you quote on.