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What should we do?
Scarp everyone debts
11.11% (1 vote)
11.11% (1 vote)
Pay the debt
55.56% (5 votes)
55.56% (5 votes)
Rob a bank?
33.33% (3 votes)
33.33% (3 votes)
Total Votes: 9
World Debt! Pay Back Or Wipe?
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World Debt! Pay Back Or Wipe?Posted:
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UK Debt
Right basically I am from the UK and within the UK there Is growing concerns weather we should be in the EU or not! In my opinion we shouldn't we pay billion upon billion per year for the EU to tell us how to run this country or what laws to enforce, that's not changing anytime soon though. For the UK to be in the EU we pay an astonishing £55 Million per day! That equates to around £20 Billion per year. If you are not aware the UK owe Trillions of pounds out to countries in the EU & Outside of the EU.
Breakdown of money the UK Owes
UK OWE USA = £578.6 Billion
UK OWE FRANCE = £209.9 Billion
UK OWE JAPAN = £122.7 Billion
UK OWE IRELAND = £113.5 Billion
UK OWE GERMANY = £379.3 Billion
Overall that's a combined total of £1.44 Trillion
If we was to take the £1.44 Tn and / by UK population it works out how much each person in the UK would owe to pay back the debt!
UK Pop 64.1 Million
---------------------------------- = 0.00004451388 = £4.45 Million! There is nothing stopping the Government putting Tax procedures in place to pay the debt back!
UK Debt 1.44 Trillion
Facts about the UK Debt issue!
You could wrap $1 bills around the Earth 9,054 times with the debt amount!
If you lay $1 bills on top of each other they would make a pile 254,016 km, or 157,838 miles high!
That's equivalent to 0.66 trips to the Moon!
World Debt pay back ( Globally )
As off 10:51AM 20/05/15 This is the entire worlds Debt! 60,825,557,888,989 & the population of the entire world is 7,316,139,954 so lets do a bit more maths!
$60,825,557,888,989
------------------------------- = 8313.88659477 = $8.313Bn
7,316,139,954
I don't know about you but i don't even have £8, never mind 8 Billion!
Conclusion on £$£$
Right, The UK are in a very messy situation just like US along with every other country in existence! For the UK i feel we are stuck in a hole and we are going deeper & deeper. Leaving the EU will take us many of years to still pay off the debt, you cant print more money as that just makes the price of everything sky rocket. A loaf of bread would cost you thousands. Take Zimbabwe for a perfect example there have a $10 Million note and in 2008 that could buy you two toilet rolls nothing more nothing less! I feel the only way round it would be cancel the debts and re start. This may have massive implications on the economy but you can not win!
I do think back in the 90's the UK did cancel millions of pounds of a African Nation as they where one of the poorest country's around. But then leaves the question looming why cant every country do this?
How do you think we can get out of this whole we are stuck in? Pay it/ Wipe it?
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The following 1 user thanked 20-20 for this useful post:
Jrd (05-20-2015)
#2. Posted:
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The majority of USA's debt is to itself. Literally.
$6 trillion to the federal government.
$5 trillion to foreign governments.
Here is how the rest of our debt is spread - (note that we only owe China a fraction of what people like to pretend we do)
On topic: All major players in the world will never forgive debts.
Last edited by Tywin ; edited 1 time in total
$6 trillion to the federal government.
$5 trillion to foreign governments.
Here is how the rest of our debt is spread - (note that we only owe China a fraction of what people like to pretend we do)
On topic: All major players in the world will never forgive debts.
Last edited by Tywin ; edited 1 time in total
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#3. Posted:
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I mean, if Germany can go from an economically crippled nation, paying war reparations from World War I and World War II, the UK will be able to recover. It's going to take a while, but I believe that the debt will eventually clear. Look at Germany now, they've turned into a European economic powerhouse.
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Lavish wrote The majority of USA's debt is to itself. Literally.
$6 trillion to the federal government.
$5 trillion to foreign governments.
Here is how the rest of our debt is spread - (note that we only owe China a fraction of what people like to pretend we do)
On topic: All major players in the world will never forgive debts.
I find it amusing when talking about debt that Trillions is not too much, haha!
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20-20 wrote I find it amusing when talking about debt that Trillions is not too much, haha!
People have always acted like more than 50% of our national debt was owed to China and that they could come to collect at any time.
When only 1/18 of our debt is owed to China, it really isn't that much.
They couldn't come to collect even if they wanted to.
They'd cripple their own economy in the process.
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This is why we need a politics forums like you had proposed Lavish
Gives some interesting topics to talk about
Who is not in debt? Only sustainable country really is China, economy atm is booming
Gives some interesting topics to talk about
Who is not in debt? Only sustainable country really is China, economy atm is booming
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iBaby wrote This is why we need a politics forums like you had proposed Lavish
Gives some interesting topics to talk about
Who is not in debt? Only sustainable country really is China, economy atm is booming
I'd love a politics forum, Like discussing about Politics! Only booming as how much they export to other countries! I literally think they import nothing.
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#8. Posted:
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iBaby wrote This is why we need a politics forums like you had proposed Lavish
Gives some interesting topics to talk about
Who is not in debt? Only sustainable country really is China, economy atm is booming
China is over $5 trillion in debt and their economy is currently taking a major hit.
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#9. Posted:
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20-20 wroteiBaby wrote This is why we need a politics forums like you had proposed Lavish
Gives some interesting topics to talk about
Who is not in debt? Only sustainable country really is China, economy atm is booming
I'd love a politics forum, Like discussing about Politics! Only booming as how much they export to other countries! I literally think they import nothing.
They still have a stable government and economy, something most country's dont really have
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Lavish wroteiBaby wrote This is why we need a politics forums like you had proposed Lavish
Gives some interesting topics to talk about
Who is not in debt? Only sustainable country really is China, economy atm is booming
China is over $5 trillion in debt and their economy is currently taking a major hit.
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How can they be losing money on Freight costs, whos running that? because they should be making millions on Freight!
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