best bet is follow the Icelandic route ..put all the bankers ,including corrupt politicians and all the greedy ****ers in jail, then write off the debt ... problem solved
America like us rely on taxing the average working guy. The horrible rich do everything they can to avoid paying any tax. Just look at the big American firms over here that have been in the news recently for avoiding paying tax. They do the same at home. It's about time we and the yanks clamped down on this. They are going to have to soon anyway, as the money floating around offshore will be needed to actually start paying off their own countries debts.
This is as far as i got post 3..... Maybe i jut]st could not understand it allm ****e... Half cut again, bu going too be good tonght
Mentalists mate, It's for mentalists. Have you been on there? Funny as **** but you can get a discussion going with them I'm sure folk would rather chat about these things with the decent folk on this board then try in vain with some of them on GC.
Debt is bonkers, we are in debt but still give foreign aid to India. They have their own space agency Ffs. If national governments sorted their issues like foreign Aid to countries like India then that's a start
Yep, one of the world's fastest growing economies. Can't afford to feed their people but can afford nuclear submarines.
Bringing it back to football, with so much debt and uncertainty why are eastern European and Asian people buying into the English football leagues? Are they genuinely passionate about the clubs they are buying, or have they other reasons? Whilst does seem funny to see the shambles that are going on at certain clubs such as Leeds, it cannot be good for the long term future of football; look at what has happened to Portsmouth. Is there as much foreign investment in other European leagues?
That is true of most smaller countries (the ones that are in bother like Greece, Turkey etc), but us and the US are a Monetarily Sovereign government which means our debt is in our own currency, basically all of our (yours and my) savings and investments. Simply put, the government borrows our money, pays us a token charge (interest) for the privilege and then charges us through an extortionate tax liability so that they can repay us. I wish I was clever enough to think of a scam like that, its legalised extortion.
Not sure of the actual figures but the debt you mention would be Government issue Guilts and Bonds, which are purchased by other countries in the same way that you or I could buy them and earn interest from them. They are not loans per se, they are an investment in the issuing country which guarantees that the price paid per Bond/Guilt will be honoured at the end of a fixed term and they pay a higher return than the bank rate during their life, but you are right if a country which had invested heavily decides to cash them in, it could cause financial meltdown. I read a while back that China owns Guilts and Bonds worth 7% of the USA's total wealth and if they cashed them in, the USA economy would crash.
Lots of talk about Fight Club style of ending and ridding world debt sounds amazing but the society we live in it would just happen again!
I can't remember the exact details about it, but there was a documentary on (it was Panorama or something like that, not a conspiracy channel one on satellite) and it was saying that for people who might not have got their money legitimately (eg dodgy Russians as Communism collapsed taking control of the oil) having a high profile asset like a PL football club is good protection for them. Staying just in their own country they could easily be "replaced" by challengers and the act covered up with corruption being rife. By owning the PL club they become internationally prominent, so if anything happens it's not so easy to cover it up.
