Quote from: Cryddit on May 14, 2016, 10:35:15 PM

Quote from: practicaldreamer on May 14, 2016, 06:57:21 PM

In the UK the Govt.(we the taxpayer) bailed out RBS (amongst others) to the tune of £45billion. The Chancellor lately decided to sell the stake that the Govt. hold at a price less than what they (we) paid for it. It means a loss to the UK taxpayer of £13billion.

The £45billion was less than the replacement value for a £65billion bezzle....It was distributed throughout the economy, in everybody's pockets, including the fatcats.

It was used to quadruple household and personal debt.

Quote from: Cryddit on May 14, 2016, 10:35:15 PM

When they printed more money, the fatcats' holdings were devalued way more than the ordinary taxpayers'.

Possibly - but the relative gap between the have and have nots has increased post 2008. You could say that inequality has spiralled off the back of it.

My brother in law is making real interest payments on collateral in his property that no longer exists. If it no longer exists (the £25k negative equity) how about the banks wiping it off his outstanding mortgage ? Private debt is the ongoing problem here that is subduing growth - but we are all being told its public debt (which entails austerity and cuts to public services and welfare)

Quote from: Cryddit on May 14, 2016, 10:35:15 PM

You can fleece sheep every year.

You can - but in this day and age it costs around 20% more to shear a sheep than you'll get for the fleece Huh