You Just Have To See This Video

KRAM1 · March 27, 2009

I hope the link works that is attached. This is a member of England's House of Commons commenting on the "state of things". Sounds eerily familiar, doesn't it?

KRAM1 · March 27, 2009

BUMP...anybody had a chance to watch this? What do you think?

oldguystudent · March 30, 2009

BUMP...anybody had a chance to watch this? What do you think?

I'm pausing midway through to ask how a point he makes is mathematically possible.

He says every child born in Britain is born owing 20,000 pounds. OK. So far, so good. But then he says that servicing that debt will cost more than educating the child. I don't have my actuarial charts handy, but even if the total outlay on that debt were 60,000 pounds, I don't think it's accurate to say that servicing the debt costs more than the child's education. I hear things like this, and it's tough to give credence to the rest of the speech.

We are now running a deficit that touches 10% of GDP!?!? This is what the ruckus is about?

You cannot spend your way out of recession. Huh. The good British economist John Keynes might have wished to debate that.

You know and we know and you know that we know. Uh...Let me help you help me help you?

Wow. You don't hear inflammatory rhetoric like that thrown directly at the President in the house over on this side of the pond. That was something to see. So anyway, I can see where he's coming from but the theatrics, statement of fact on matters that are speculative at best, and overall fear mongering (worse off than Pakistan? C'mon) smack of American AM talk radio.

A final question, not directly related to the video. With all these developed countries being debtor nations, who are the creditor nations? Has it become the world bank of China now? As it stands in the US, 40% of US debt is held by foreign entities while the other 60% is held domestically. Not a ratio I like to see, but it's still money that America owes to itself in most cases. I'd like to know where that ratio stands with the UK.

UNTflyer · March 30, 2009

I don't have my actuarial charts handy...

NED:

That's okay. I'll walk with you. When I see an opportunity, I charge it, like a bull. Ned the Bull, that's me now. Some of my friends live and die by actuarial tables, but I say "Hey, it's all just a crap shoot anyhoo." You ever heard of single premium life? That could be the ticket for you, buddy.

oldguystudent · March 30, 2009

NED:
That's okay. I'll walk with you. When I see an opportunity, I charge it, like a bull. Ned the Bull, that's me now. Some of my friends live and die by actuarial tables, but I say "Hey, it's all just a crap shoot anyhoo." You ever heard of single premium life? That could be the ticket for you, buddy.

I believe I meant to say annuity charts, but that was funny! Very nice!

Edited March 30, 2009 by oldguystudent