What would happen if we ignored the "financial crisis"?

[GStar]

I'm no economics expert; but we're surely not burning stacks of notes, meaning that less currency exists in the world?

I'm guessing the above statement isn't strictly true, and there is infact a fluctuation in the amount of "money" in the world over a period of time.

Even so, what would happen if we Ctrl+Alt+Del and restarted everything back at £0? Merely from a country perspective to begin with... i.e no countries are in debt.

What would the consequences be? Why? And since every country seems to be in debt, who exactly do we all need to write our 'IOU's' to?

 

[ifwecouldjust......]

What would the consequences be? Why? And since every country seems to be in debt, who exactly do we all need to write our 'IOU's' to?

Our IOU's are written to countries like China who looked for relativley safe places to lend their money to at a reasonable rate of return. We gauranteed the loans with 'Securitized Mortgages' which turned out to be duds. Hence the lender asked for their money back.

The financial crisis you refer to (outlined above) is not even being tackled yet. The cuts you are seeing are simply to get the UK in a position where they can meet the bills for running the country and paying the interest on the debt we hold.

If you think its bad now you aint seen nothing yet....................

 

[Bill]

what crisis?

 

[gordondaviesmoustache]

What would the consequences be? Why? And since every country seems to be in debt, who exactly do we all need to write our 'IOU's' to?

Our IOU's are written to countries like China who looked for relativley safe places to lend their money to at a reasonable rate of return. We gauranteed the loans with 'Securitized Mortgages' which turned out to be duds. Hence the lender asked for their money back.

The financial crisis you refer to (outlined above) is not even being tackled yet. The cuts you are seeing are simply to get the UK in a position where they can meet the bills for running the country and paying the interest on the debt we hold.

If you think its bad now you aint seen nothing yet....................

We're doomed!!<br /><br />-- Mon Mar 07, 2011 4:13 pm --<br /><br />

Our IOU's are written to countries like China who looked for relativley safe places to lend their money to at a reasonable rate of return. We gauranteed the loans with 'Securitized Mortgages' which turned out to be duds. Hence the lender asked for their money back.

The financial crisis you refer to (outlined above) is not even being tackled yet. The cuts you are seeing are simply to get the UK in a position where they can meet the bills for running the country and paying the interest on the debt we hold.

If you think its bad now you aint seen nothing yet....................

We're doomed!!

 

[GStar]

What would the consequences be? Why? And since every country seems to be in debt, who exactly do we all need to write our 'IOU's' to?

Our IOU's are written to countries like China who looked for relativley safe places to lend their money to at a reasonable rate of return. We gauranteed the loans with 'Securitized Mortgages' which turned out to be duds. Hence the lender asked for their money back.

The financial crisis you refer to (outlined above) is not even being tackled yet. The cuts you are seeing are simply to get the UK in a position where they can meet the bills for running the country and paying the interest on the debt we hold.

If you think its bad now you aint seen nothing yet....................

Why did China want to lend others money?
Where did they get it from originally, have they been saving up?
What would happen if we "made poverty history" again?
How did the securitized mortgages turn out to be dud's and what is a SM?
Do we regulate the amount of currency circulating the world at any point?

Apologies if these questions sound crude or basic, just interested in understanding how and why we're at this point, where its going to go from here and how long before i start up my own utopia.

 

[CheesySmoker]

The illuminati would not be happy.

 

[SWP's back]

Our IOU's are written to countries like China who looked for relativley safe places to lend their money to at a reasonable rate of return. We gauranteed the loans with 'Securitized Mortgages' which turned out to be duds. Hence the lender asked for their money back.

The financial crisis you refer to (outlined above) is not even being tackled yet. The cuts you are seeing are simply to get the UK in a position where they can meet the bills for running the country and paying the interest on the debt we hold.

If you think its bad now you aint seen nothing yet....................

Why did China want to lend others money?
Where did they get it from originally, have they been saving up?
What would happen if we "made poverty history" again?
How did the securitized mortgages turn out to be dud's and what is a SM?
Do we regulate the amount of currency circulating the world at any point?

Apologies if these questions sound crude or basic, just interested in understanding how and why we're at this point, where its going to go from here and how long before i start up my own utopia.

You got an essay to wrote or something?

 

[GStar]

Nope, just interested. You're an FA aren't you?

 

[Blue Smarties]

An even better way to sort out the crisis, in our country atleast, would be to chase up Topman, Tesco etc with the billions they've cheated out of tax via a loophole.

 

[The Pink Panther]

My Mrs and kids are ignoring the financial crisis, however I've been going through one since I got married 18 years ago.

It is quite unbelievable though that the cuts the government is making are just to get us into a position where we are able to start paying back what we owe.
Labour well and truly strangled the goose that laid the golden egg.