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Politics Today

IndoMike

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That’s a very 20th century attitude to economic theory Hermie, a new doctrine says countries who are able to borrow in their own currency, can rack up long term debt with little or no risk. That’s the theory anyway.
Depends on the interest rates ; depends on how much of the debt is in dollars and hence on the exchange rate. If debt is not a problem how come The Chinless Wonder put the country through 10 years of austerity to pay off the debt? Huh?
 

Alistair20000

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Another 8 years of Johnson. Jesus.
Don’t think Bunter can afford to live on his PM salary for 8 years Indo
 

tavyred

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Depends on the interest rates ; depends on how much of the debt is in dollars and hence on the exchange rate. If debt is not a problem how come The Chinless Wonder put the country through 10 years of austerity to pay off the debt? Huh?
The big driver for the Cameroonian austerity era was the deficit not the debt per se.
 

IndoMike

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The big driver for the Cameroonian austerity era was the deficit not the debt per se.
But deficit leads to national debt.
Anyway, the IMF was a big supporter of austerity during the Asian crisis. The problem with austerity is that it smothers a nation's economic activity and leads to a breakdown in society. I was already here in Indonesia in 1998 when the crisis started.
It was a very challenging time, believe me. I saw stuff.
 

Mr Jinx

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The big driver for the Cameroonian austerity era was the deficit not the debt per se.
Besides, when someone mentions austerity, some assume that everybody is/was against it.

Lot of people (me included) absolutely applauded it. Days of easy take were gone for lots. And not before time.
 

Hermann

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Besides, when someone mentions austerity, some assume that everybody is/was against it.

Lot of people (me included) absolutely applauded it. Days of easy take were gone for lots. And not before time.
See I just knew you'd be all for it
 

Hermann

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That’s a very 20th century attitude to economic theory Hermie, a new doctrine says countries who are able to borrow in their own currency, can rack up long term debt with little or no risk. That’s the theory anyway.
So some would have it. Others would say that MMT is entirely untested, and that it will inevitably lead to unstable inflation.
 

DB9

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You may not agree with Angela Rayner's politics but.............
1620579528834.png
 

Rosencrantz

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You may not agree with Angela Rayner's politics but.............
View attachment 6003
You keeping her on the front bench then DB?
 

DB9

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You keeping her on the front bench then DB?
Only if Mrs DB9 would let me, She just rolled her eyes! :ROFLMAO:
 
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