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Thread: Governments Don't Repay Their Debt They Roll It Over

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    Default Governments Don't Repay Their Debt They Roll It Over

    Over last couple of weeks we had to endure several politicians, advisers and economists tell us that governments don't repay their debt, but they roll it over. so we don't have to worry about the total size of debt. One example is Seamus Coffey. Is it true? If so how much can the country roll over every so often? If not what's the downside of rolling over debt? What happens if you can't roll over debt?

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    To infinity, and beyond, if some deluded ones are to be believed.
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    They do repay debt; however, they generally do so by borrowing money. Debt replaced with different debt.

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    Politics.ie Member gerhard dengler's Avatar
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    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    Over last couple of weeks we had to endure several politicians, advisers and economists tell us that governments don't repay their debt, but they roll it over. so we don't have to worry about the total size of debt. One example is Seamus Coffey. Is it true? If so how much can the country roll over every so often? If not what's the downside of rolling over debt? What happens if you can't roll over debt?
    Fiscal Cliff?
    Politics.ie moderators should moderate instead.
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    Politics.ie Member Hewson's Avatar
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    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    Over last couple of weeks we had to endure several politicians, advisers and economists tell us that governments don't repay their debt, but they roll it over. so we don't have to worry about the total size of debt. One example is Seamus Coffey. Is it true? If so how much can the country roll over every so often? If not what's the downside of rolling over debt? What happens if you can't roll over debt?
    We only roll over when the ECB tell us to.
    Abortion is an act of violence. Violence demeans humanity, particularly violence against women and children.

  6. #6
    asbol
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    Quote Originally Posted by Hewson View Post
    We only roll over when the ECB tell us to.
    That's a nice play on words.

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    Quote Originally Posted by gerhard dengler View Post
    Fiscal Cliff?
    What's the size of our cliff? 60% of GDP?

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    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    Over last couple of weeks we had to endure several politicians, advisers and economists tell us that governments don't repay their debt, but they roll it over. so we don't have to worry about the total size of debt. One example is Seamus Coffey. Is it true? If so how much can the country roll over every so often? If not what's the downside of rolling over debt? What happens if you can't roll over debt?
    If you can't roll over the debt you have to pay or default. A lot of countries have been paying down debt, suppose it depends on the individual circumstances and parties in power at the time.
    You should have a look into the role government debt plays in a (normal) economy. It's important. Private sector needs safe debt, pensions and insurance companies for example. It is impossible for the private sector to create risk free debt. Only governments can do that. That's the theory anyway.

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    They roll the debts over and hope that inflation knocks the billix out of it .But as we are seeing now its exploding out of control worldwide .The banksters own the game and the corrupt politician vote buyers went completely nuts .Interest is killing countries and its people it about 30-40% of gdp i believe .Wouldnt that be nice if the people could have the interest for societies good , but we couldn't have that now because that would be a daft idea looking after the people, they have to be controlled and taxed like good little serfs for the benefit of banksters and corrupt f88king politicians
    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    Over last couple of weeks we had to endure several politicians, advisers and economists tell us that governments don't repay their debt, but they roll it over. so we don't have to worry about the total size of debt. One example is Seamus Coffey. Is it true? If so how much can the country roll over every so often? If not what's the downside of rolling over debt? What happens if you can't roll over debt?

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    if u want two different opinions all you need is two economists

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