tag:blogger.com,1999:blog-32841798.post729346973472790019..comments2024-03-29T13:32:22.201+00:00Comments on Capitalists@Work: Situtation normal?CityUnslickerhttp://www.blogger.com/profile/15929544047783163175noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-32841798.post-30714774744687926352018-02-05T01:41:39.031+00:002018-02-05T01:41:39.031+00:00"dearieme said...
"Did you see Aber..."dearieme said...<br /><br /> "Did you see Aberdeen City Council ...": do municipal debts in Britain have the backing of the Treasury? Presumably not?"<br /><br /><br />I cannot really help, either.<br /><br />DMCs, councils indebtedness but it is a problem I've pondered on and off since the bliar/brown terror,.<br /><br />As you say and I agree "presumably not" <br /><br />Hmm, so many councils are neck deep in an ocean of debt, debts that can never, realistically, be repaid, add in their; salary burden, pension schemes, crazy accounting + rampant peculation, in the pockets of the major property and construction giants, stuck with an army of apparatchiks and a social services a corpulent ravenous monster eating money......... and the whole 'local government model' shebang looks, well er, like a future financial catastrophe.<br /><br />It is all a ticking financial clusterfuck, yet, the cover up and pretending goes on, while, the public are led up the garden path.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-18096585153653572242018-02-02T15:44:21.233+00:002018-02-02T15:44:21.233+00:00"Did you see Aberdeen City Council ...":..."Did you see Aberdeen City Council ...": do municipal debts in Britain have the backing of the Treasury? Presumably not?deariemenoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-55554552327550830832018-02-01T20:36:48.974+00:002018-02-01T20:36:48.974+00:00Draw the graph from 1700 and rates bounce between ...Draw the graph from 1700 and rates bounce between 3 and 6 %<br /><a href="http://static3.uk.businessinsider.com/image/5764442ddd089503088b4727-538/5000-years-of-interest-rates-cotd.png" rel="nofollow"> like this </a>andrewhttps://www.blogger.com/profile/07311993288675111834noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-18396537153924562452018-02-01T10:38:16.593+00:002018-02-01T10:38:16.593+00:00www.nationaldebtclock.co.uk - it's going to hi...www.nationaldebtclock.co.uk - it's going to hit £2 trillion any day now.<br /><br />and isn't consumer debt up over one and half trillion quid too now?<br /><br />If the Americans do push bond prices down, and the UK does 'follow' (as opposed to doing a 'Japan'?) at what rate will refinancing our unpayable debts cause too much of an issue?<br /><br />Did you see Aberdeen City Council have issued a 0.25% coupon, index linked £350m bond maturing in 2054? It's to build a white elephant conference centre to replace north sea oil.<br /><br />They'll have to refinance about a billion when everyone who made this deal is dead or retired. Maybe interest rates will be 20% again. Who knows? Who cares?<br /><br />It's probably not time to start talking / worrying about debt again yet. Mid 2020's - the next 'big one'.Steven_Lhttps://www.blogger.com/profile/05029437876479574883noreply@blogger.com