UK net debt now totals 1 trillion pounds


7

7

UK net debt now totals 1 trillion pounds
----------------------------------------

This is all of the debt from mortgages (biggest debt burden)
to lending and personal debts.

It is time to change the system and ban mortgages
across the globe.

Nationalise mortage industry first so that a large part of the
stock market value of debt trading is instantly deleted.
No more apologies or bonuses to the mortgage debt merchants.

The current level of debt is 10 x times whatever
anyone and *EVERYONE* in UK put together can make
in a year. As NOT ONE SINGLE PERSON from prime ministers
to Chancellors has the power or the money
to feed the debts created by the debt merchants,
its time to call it a day on mortgage debt merchants.

By statute, band all mortgage lending and replace
all debts with under performing 5 year interest
only bank lending schemes so that house prices can tumble and
costs can tumble.

Under performing bank loans are not a bad thing
for the man in the street because he does not
have to work as hard to pay off his debt, which means
less money for the banks and more money for the
consumers to go spend in the shops.

When was the last time you had a happy holiday?

Why should the man in the street work his bollocks
off to feed the bankers any way? The moment the wankers
in banks underpeform, the run to government for bail out money
because they must be more important than you to
be given all that money.

Its time to fight for you happy holiday, free education,
and a better life style by driving out the debt
merchants, and banning mortgage trading system globally.
Like ponzi schemes, mortgage trading is not equitable to society.
 
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D

DVH

By statute, band all mortgage lending and replace
all debts with under performing 5 year interest
only bank lending schemes so that house prices can tumble and
costs can tumble.
Will this not get rid of a large number of mortgage lenders and make it
very difficult for me to buy a house?

If so, I'm not in favour.
 
D

DVH

Congratulations! In one easy stroke, you've just put approximately half
of all households in the UK into serious personal debt.

Was that your intention?
Perhaps he means to pass a law saying, roughly, "households shall no
longer be in a lot of debt".

I don't think you grasp how simply some of these problems can be solved.
 
A

abelard

Perhaps he means to pass a law saying, roughly, "households shall no
longer be in a lot of debt".

I don't think you grasp how simply some of these problems can be solved.
indeed, the government should reduce all houses to 30p...

that way nobody would ever be in debt or homeless

red ed is just the fellow to solve all the world's problems

put up all wages to £1000 per hour and all food to no more
the 5p a kg
 
D

DVH

Debt that, at least, was mostly massively over-covered by an asset.


Indeed I don't. Maybe because, as the immortal Duhg not-Bollen might have
put it, my view of solutions is encumbered by knowledge and experience
preventing me from thinking outside the box?
Now you're getting the hang of it!

In this thread, abe also provides solutions to several other problems
which have baffled people for centuries.

That's the great thing about the internet. New ideas...
 
7

7

DVH wrote:

Will this not get rid of a large number of mortgage lenders and make it
very difficult for me to buy a house?

If so, I'm not in favour.

You have been conditioned to think "the right way"
thanks to your mortgage lending overlords.

Up unti a few years ago, mortgages were a bad thing.
When you took out a mortgage, your name got
inscribed on a tombstone to celebrate how low you were.

The traditional way to buy your house was a simple
bank loan and you paid interest on the remaining amount
until it is finished. Typically 5 years if you and your
family could pool the resources.
That is all it should take.
As a bread winner, now that you got your house sorted
for your family, you can now move on to use
your income to fund huge range of private commercial
projects and become wealthy.

That is how society is supposed to work.

Over the years, since the rise of computing networks,
the money flowed and flowed into the most morally bankrupt
funding schemes ever - such as mortgages.
Like ponzi schemes, they promise far more returns than any
other method. All too good to be true. And now with
nearly 1 trillion pounds (or 10 x earning power of *ALL* UK
people put together) is the total mortgage debt burden
that is by product of mortgage based lending.
So it should be banned immediately.

Its time for governments and politician to act.
They must nationalise the mortgage companies through
concerted global action and ban them from operating
in any country.

Nationalising at a rate of something like 1p to the pound
is all that they should pay in my opinion.
And if they cooperate, then offer them up to 10p to the pound.
It should be blanket sweeping regulations and it should
exclude any supporters of mortage backed funding
schemes from participating in the planning and execution
of the plan.

With all the mortgage lending schemes gone, the banks
and lenders would only be allowed to operate lending
through interest on remaining capital only schemes.
Until at least 10 years until all the debt problems
are got rid of. And even after that if the interest on
capital only schemes are producing high levels
of economic activity, then we should keep it that way.

Interest on capital outstanding only lending schemes
are great for the man in the street. The quicker
he reduces his debt, the more money he has to spend.
For the banks its not so good because they
earn far less money. But who the *FSCK* are bankers
to con the average citizen out a large part of his
money? After all, if the bankers fail, they run straight to
government and get bailed out. They are not superior
in any way and entitled to more money than any
other business. Certainly not to the tune of 10x national
debt. These *FSCKIES* number 1 million and they spent
all that wealth?????? And we should pay for it?????

No thanks! We just nationalise them!! :)

1p for every pound will be what the tax payer pays
(if that) for all the misery they have caused to UK plc.
 
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7

7

Adrian said:
Care to put a figure to that "few years ago"? Just a rough estimate?

Just before city got deregulated I bought house with
with interest on outanding amount only bank loan.
The rate was a bit high, and it was a friendly foreign bank,
and a second bank was involved, and it was purchased in stages
so relative costs were high, but still paid that off in 5 years.

A friend bought his house with a some cash and rest on
credit cards. He paid that off in a couple of years
running his own business.

That is the way it is supposed to be right?

Everyone I knew of was doing similar things.

Then something happened.

Seven years later, I wanted another house.
Could have easily paid that off in 3 years with
the better job I had.
This time, everywhere I turned up, I got the same
one buying funding scheme based on mortgages fits all buying crap.

Completely illegal in my opinion.

Many of those schemes ended up in courts
over the years.


Why bother?

Just nationalise the greed driven fsckers now!
They have provided nothing but misery to society.

And bring back variety with interest on loan
oustanding schemes only until the financial crises,
and the 1 trillion debt problems are eradicated.

The world + dog will thank the politician.

Otherwise, the same thing that happened in Greece
and Ireland awaits. Probably worse as its 10 x
*EVERYBODY* put together in the UK including millionairs
to billionairs, bankers, traders, and politicians net earning power.

So *EVERYBODY* should cooperate to nationalise the
mortage lenders, abolish them from the face of the earth
like the way ponzi schemes are erased, and replace them with low efficiency
interest on bank loan outstanding amounts only debt financing.

The money will still all be there, just that its in the
hands of sensible bankers and more of it in the hands
of the consumers.
 
T

THE COLONEL

Yer shitty little island isn't worth that.
Do some research and back up yer claims with facts.
 
A

Andy Walker

UK net debt now totals 1 trillion pounds [...]
The current level of debt is 10 x times whatever
anyone and *EVERYONE* in UK put together can make
in a year.
No it isn't. Atrillion pounds is ~£43K per household,
which is well under twice median annual household income; and
also less than a quarter of the average price of a house.
 
A

Andy Walker

UK net debt now totals 1 trillion pounds [...]
The current level of debt is 10 x times whatever
anyone and *EVERYONE* in UK put together can make
in a year.
No it isn't. Atrillion pounds is ~£43K per household,
which is well under twice median annual household income; and
also less than a quarter of the average price of a house.
 
7

7

Andy Walker wrote:

UK net debt now totals 1 trillion pounds [...]
The current level of debt is 10 x times whatever
anyone and *EVERYONE* in UK put together can make
in a year.
No it isn't. Atrillion pounds is ~£43K per household,
which is well under twice median annual household income; and
also less than a quarter of the average price of a house.

Yeah sure if you can tax everybody for every penny they earned
and they didn't eat or pay their bills.

But lets say you allow the public the right to buy food and
the right to live and work their bollocks off for the
mortgage companies, then ater the tax man has collected
all the taxes he can from all
the rich and poor alike, we are still talking 10x whatever
he can steal from the tax payer as the total amount the mortgage debt
ponzi schemes amount to.

Time to nationalise the mortgage companies it sounds like.

1p to every pound sounds fair for all the misery the mortgage scheming
has caused to free up the money and get the world back on its feet.
 
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7

7

Andy Walker wrote:

UK net debt now totals 1 trillion pounds [...]
The current level of debt is 10 x times whatever
anyone and *EVERYONE* in UK put together can make
in a year.
No it isn't. Atrillion pounds is ~£43K per household,
which is well under twice median annual household income; and
also less than a quarter of the average price of a house.

Yeah sure if you can tax everybody for every penny they earned
and they didn't eat or pay their bills.

But lets say you allow the public the right to buy food and
the right to live and work their bollocks off for the
mortgage companies, then ater the tax man has collected
all the taxes he can from all
the rich and poor alike, we are still talking 10x whatever
he can steal from the tax payer as the total amount the mortgage debt
ponzi schemes amount to.

Time to nationalise the mortgage companies it sounds like.

1p to every pound sounds fair for all the misery the mortgage scheming
has caused to free up the money and get the world back on its feet.
 
7

7

Adrian wrote:

1986.

Just so that we're clear here
WHY?

- your claim is that, prior to 1986,
mortgages were highly unusual
Says you. Lets be 110% clear about that.
and the average house was purchased on a
simple bank loan,
Says you again. Let us be 120% clearer still about that!!
repaid in five years?

A little earlier, but you are not 100% correct after that either.

Regulations as far as I know were in place to prevent the ordinary
man in the street from getting bank loans to buy houses.
But various schemes were commonly available that effectively did that.

But I believe something happened soon after - a tightening of regulations
and checks to prevent anyone from property buying though
anything other than one size must fit all failed mortgage schemes.

The very things that should be banned from now on. And replaced
with diversity, including loans based on paying interests on outstanding
amounts only. It prevents banks from making too much money
and creating debts that cannot be paid off.

Debt mountains are great for lenders, but it kills the man in the streets
and put their lives to waste feeding the lender all their money
instead of their families for decades on end. Any financial lending
clocking in above 5 years should be classed as financial mal practice
and should be banned.

Politicians who pander to lenders had best be sure
it is what they want to do.

Natitionalising the mortgage lenders with a 1p to a pound ratio
is probably the best thing the politician can do as EVERYONE'S wealth
including their own down to billionairs is now under threat.
 
7

7

Adrian wrote:

1986.

Just so that we're clear here
WHY?

- your claim is that, prior to 1986,
mortgages were highly unusual
Says you. Lets be 110% clear about that.
and the average house was purchased on a
simple bank loan,
Says you again. Let us be 120% clearer still about that!!
repaid in five years?

A little earlier, but you are not 100% correct after that either.

Regulations as far as I know were in place to prevent the ordinary
man in the street from getting bank loans to buy houses.
But various schemes were commonly available that effectively did that.

But I believe something happened soon after - a tightening of regulations
and checks to prevent anyone from property buying though
anything other than one size must fit all failed mortgage schemes.

The very things that should be banned from now on. And replaced
with diversity, including loans based on paying interests on outstanding
amounts only. It prevents banks from making too much money
and creating debts that cannot be paid off.

Debt mountains are great for lenders, but it kills the man in the streets
and put their lives to waste feeding the lender all their money
instead of their families for decades on end. Any financial lending
clocking in above 5 years should be classed as financial mal practice
and should be banned.

Politicians who pander to lenders had best be sure
it is what they want to do.

Natitionalising the mortgage lenders with a 1p to a pound ratio
is probably the best thing the politician can do as EVERYONE'S wealth
including their own down to billionairs is now under threat.
 
W

White Spirit

UK net debt now totals 1 trillion pounds
Oh look, it's the European Inventor of the Year who doesn't seem to have
won any such awards in the absence of any records.

Another reject from comp.os.linux.advocacy.
 
A

abelard

Andy Walker wrote:

UK net debt now totals 1 trillion pounds [...]
The current level of debt is 10 x times whatever
anyone and *EVERYONE* in UK put together can make
in a year.
No it isn't. Atrillion pounds is ~£43K per household,
which is well under twice median annual household income; and
also less than a quarter of the average price of a house.

Yeah sure if you can tax everybody for every penny they earned
and they didn't eat or pay their bills.

But lets say you allow the public the right to buy food and
the right to live and work their bollocks off for the
mortgage companies, then ater the tax man has collected
all the taxes he can from all
the rich and poor alike, we are still talking 10x whatever
he can steal from the tax payer as the total amount the mortgage debt
ponzi schemes amount to.

Time to nationalise the mortgage companies it sounds like.

1p to every pound sounds fair for all the misery the mortgage scheming
has caused to free up the money and get the world back on its feet.
the degree of economic nonsense in your posts is homeric...

mortgage payers are usually paying well below 10%...eg at £43,000
per household, that would be 4,300 per year...less than £100 per
week
further, the huge inflation being engineered by the government, means
those debts are steadily being eroded in real terms...it also
means a steady increase in the nominal value of the house, and thus
in capital accumulation...
further, many households have more than one earner to mean the debts..
and with greater sanity, more people could share debts...
further, every debt one household has is an asset to those from whom
they borrow the debts...eg, the pensioner to whom the debts is
owed...

further, borrowing is a personal freedom, which is doubtless part of
why you don't like it...nobody is forcing you to borrow...

debt is good for everyone who manages their affairs sanely

you commies are all the same!
 
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A

abelard

Over the years, since the rise of computing networks,
the money flowed and flowed into the most morally bankrupt
funding schemes ever - such as mortgages.
Like ponzi schemes, they promise far more returns than any
other method. All too good to be true. And now with
nearly 1 trillion pounds (or 10 x earning power of *ALL* UK
people put together) is the total mortgage debt burden
that is by product of mortgage based lending.
So it should be banned immediately.
what you on about now?
uk gdp is around $2.3 trillion(~£1.43 trillion)
Its time for governments and politician to act.
They must nationalise the mortgage companies through
concerted global action and ban them from operating
in any country.
money is nationalised in the uk...thus the government controls
all banks
With all the mortgage lending schemes gone, the banks
and lenders would only be allowed to operate lending
through interest on remaining capital only schemes.
Until at least 10 years until all the debt problems
are got rid of. And even after that if the interest on
capital only schemes are producing high levels
of economic activity, then we should keep it that way.
and the government taxes the hell out of banks...

of course the person who pays is the person with money
in the banks...and the banks which go bankrupt
as many of them have recently due to brown the clown and
his cronies


you need to go to schools for a few years
even the lse is better than the tripe you believe!
 
7

7

abelard wrote:

debt is good for everyone who manages their affairs sanely

you commies are all the same!

Its OK then to cut hospitals as well because if people
manage their health affairs sanely, you wouldn't need as much
because abelyard said so.


So what happens when you get mowed down I hear you ask?
Well abelyard would recommend you managing
your affairs sanely like not going out and getting
mowed down.


Getting mowed down by huge debt mountain of nearly
trillion dollars despite you not spending any of it
will affect every politician, millionair and billionair
as well as the middle and poor. Imagine you are a billionair,
and you go to the bank and try to pay your electricity
bill of 500.01 pounds. Tough! If it exceeds 500 pounds
you will not be allowed to cash the cheque.
Because the government has frozen all bank assets
to pay for mortgage interest rate rise.
This has happened before in other countries.

So *EVERYONE* will be affected even if you got
billions in the bank.

Its time to nationalise the mortgage lenders
and spend 1p per pound compensating them for the
priviledge.

Modern society functions so much more efficiently,
we need new ways of making sure money is not allowed
to be hoarded by old outdated systems such as mortgages.
Ban mortgages with immediate effect and replace it with
interest on outstanding amount only and reduce all
borrowing periods to under 5 years. That way people
will have more money to spend more and get the economy
moving again, With production costs going down and down,
cost of money needs to go down, anything that channels
money into debt needs to be nationalised, and
new micro payment systems as well to make sure
the commerce is happening with less interference so that
more jobs can be created.

Bitcoins are doing all of that now. Real money isn't.

The fight between old and new money is going to become
real, soon enough.

Lets not start wars over it.

Lets diffuse the situation by making sure mortgages
are a thing of the past not fit for the modern world.
 
7

7

abelard wrote:

debt is good for everyone who manages their affairs sanely

you commies are all the same!

Its OK then to cut hospitals as well because if people
manage their health affairs sanely, you wouldn't need as much
because abelyard said so.


So what happens when you get mowed down I hear you ask?
Well abelyard would recommend you managing
your affairs sanely like not going out and getting
mowed down.


Getting mowed down by huge debt mountain of nearly
trillion dollars despite you not spending any of it
will affect every politician, millionair and billionair
as well as the middle and poor. Imagine you are a billionair,
and you go to the bank and try to pay your electricity
bill of 500.01 pounds. Tough! If it exceeds 500 pounds
you will not be allowed to cash the cheque.
Because the government has frozen all bank assets
to pay for mortgage interest rate rise.
This has happened before in other countries.

So *EVERYONE* will be affected even if you got
billions in the bank.

Its time to nationalise the mortgage lenders
and spend 1p per pound compensating them for the
priviledge.

Modern society functions so much more efficiently,
we need new ways of making sure money is not allowed
to be hoarded by old outdated systems such as mortgages.
Ban mortgages with immediate effect and replace it with
interest on outstanding amount only and reduce all
borrowing periods to under 5 years. That way people
will have more money to spend more and get the economy
moving again, With production costs going down and down,
cost of money needs to go down, anything that channels
money into debt needs to be nationalised, and
new micro payment systems as well to make sure
the commerce is happening with less interference so that
more jobs can be created.

Bitcoins are doing all of that now. Real money isn't.

The fight between old and new money is going to become
real, soon enough.

Lets not start wars over it.

Lets diffuse the situation by making sure mortgages
are a thing of the past not fit for the modern world.
 
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