BANK RUNS

[Sekwo]

(15 July 2023, 08:06)bigpaul Wrote: wait until we get into a great depression like in the 1920s.
most money these days are just figures on a bit of paper or on a screen, its not real.

The 1920s only looked bad in comparison to the periods of growth before and after. What we're heading to, is a situation where the economy is permanently in recession and that general downward trend is punctuated by periods far worse than the 1920s.

The real question, is what happens on "the turn" from boom to bust ... when those currently lending us the money which our government lives on, decide that the declining UK economy means we won't be able to repay that debt. Or ... when the exit from the dollar (which means the western financial sector of which UK is a big part), means that financial sector no longer has the money to bail our our governments and they literally run out of all money.

To use a sailing metaphor, do we just "come about" ... or does the boom swing widely across the boat, destabilising us and capsizing the boat.