ScottieM 🏴󠁧󠁢󠁳󠁣󠁴󠁿 🇬🇧

Helping UK businesses get paid. B2B credit management & debt recovery, with a behavioural approach. Because getting paid isn't just about numbers. It's about people, behaviour and knowing when to push, when to talk and how to get paid without burning bridges. murraycollins.co.uk

Richard Werner explaining how banks create money from nothing. Wait when people find out how Government spending, tax & borrowing really works also.

HERE'S WHAT THE UK NATIONAL DEBT REALLY IS - IT'S NOT REALLY A DEBT AT ALL. It's NOTHING like a household/business debt... it's simply the private & foreign sectors savings, investments etc. Government spending creates the reserves that are then used to buy government bonds. (Debt) That's it.

UK debt interest and how public government spending really works. 𝐓𝐡𝐞 𝐔𝐊 𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐝𝐞𝐛𝐭 𝐡𝐚𝐬 𝐩𝐚𝐬𝐬𝐞𝐝 £3 𝐓𝐑𝐈𝐋𝐋𝐈𝐎𝐍. 𝐀𝐧𝐝 𝐚𝐩𝐩𝐚𝐫𝐞𝐧𝐭𝐥𝐲, 𝐰𝐞'𝐫𝐞 𝐚𝐥𝐥 𝐬𝐮𝐩𝐩𝐨𝐬𝐞𝐝 𝐭𝐨 𝐩𝐚𝐧𝐢𝐜. 😂 We're drowning in debt. We're living beyond our means. Our grandchildren will have to pay it back, etc etc. It's all complete economic BS, repeated by politicians, the media and TV economists and people start believing it. 𝐁𝐮𝐭 𝐡𝐞𝐫𝐞'𝐬 𝐰𝐡𝐚𝐭 𝐍𝐄𝐕𝐄𝐑 𝐠𝐞𝐭𝐬 𝐞𝐱𝐩𝐥𝐚𝐢𝐧𝐞𝐝. The national debt is also somebody else's financial wealth, and the private sectors asset. Much of it consists of government bonds, held by pension funds, banks, insurance companies and investors. What the government records as a liability, somebody else holds as an asset. And here's where it gets interesting… If the government spends £100 and collects £90 in taxes, it runs a £10 deficit. But that £10 is a financial surplus for the private and foreign sectors combined. The government's deficit is always somebody else's surplus. That's not an opinion. It's basic accounting and economic facts. 𝐀𝐧𝐝 𝐰𝐡𝐚𝐭 𝐚𝐛𝐨𝐮𝐭 𝐚𝐥𝐥 𝐭𝐡𝐢𝐬 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐛𝐨𝐫𝐫𝐨𝐰𝐢𝐧𝐠? The UK issues its own currency. It doesn't need to borrow money because it's somehow run out of money, thats just not possible. Government spending creates bank deposits & adds reserves to the banking system. Its those reserves that then purchases government bonds, although the BOE can create reserves also. 𝐖𝐡𝐚𝐭 𝐢𝐟 𝐰𝐞 𝐞𝐥𝐢𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐭𝐡𝐞 𝐄𝐍𝐓𝐈𝐑𝐄 𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐝𝐞𝐛𝐭? Sounds great, doesn't it? 😂 Except we'd also eliminate government bonds, the safe, interest-earning assets that pension funds, your pension & insurances even, banks and investors rely on that keeps the financial system functioning. Investors would receive cash instead, but lose those bonds/assets. And if we tried to pay off the debt through years of budget surpluses? More and more money would simply be removed from the economy. Getting rid of government debt will not save the economy. It would end up damaging it. 𝐀𝐧𝐝 𝐡𝐞𝐫𝐞'𝐬 𝐚𝐧𝐨𝐭𝐡𝐞𝐫 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐢𝐧𝐠 𝐛𝐢𝐭. A country isn't automatically better off because its government owes less. And it isn't automatically worse off because it owes more. What matters is what that spending has produced, what it costs, and whether we're building a growing, more productive economy. We SHOULD started talking about that instead, instead of talking about the stuff the media and the government wants you to talk about and focus on, designed to give them protection, a free ride and support them when austerity happens. 𝐖𝐞 𝐬𝐡𝐨𝐮𝐥𝐝 𝐛𝐞 𝐚𝐬𝐤𝐢𝐧𝐠... 𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐰𝐞 𝐠𝐞𝐭𝐭𝐢𝐧𝐠 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐦𝐨𝐧𝐞𝐲? 𝐖𝐡𝐨 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬? 𝐀𝐧𝐝 𝐰𝐡𝐲 𝐚𝐫𝐞 𝐨𝐫𝐝𝐢𝐧𝐚𝐫𝐲 𝐩𝐞𝐨𝐩𝐥𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐭𝐡𝐞 𝐨𝐧𝐞𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐩𝐚𝐲 𝐭𝐡𝐞 𝐩𝐫𝐢𝐜𝐞 𝐰𝐡𝐞𝐧 𝐚𝐮𝐬𝐭𝐞𝐫𝐢𝐭𝐲 𝐜𝐨𝐦𝐞𝐬 𝐚𝐥𝐨𝐧𝐠? #NationalDebt #Economics #UKEconomy

More lies and misinformation being told by another economic journalist.

Keep calm and keep drilling. I say, get the oil and gas out from the North Sea.

So far my Libre 2 plus has proven to be worse than useless. (On the free trial) It showing a max around 12.1 whilst a finger prick blood test showed 15 and just over 15 twice. So is this just another useless fad that simply doesn't work? @FreeStyleDiabet

Lord Walker knows business. But he's clearly completely & utterly clueless on economics and how the economy works. #Newsnight

The only person that has spoke any economic sense on #bbcdn was James Gardner. The rest would struggle to spell "economics"

Jezza - you need to get proper economists on @TalkTV Everyone is either... 1. Lying 2. Or they genuinely have no clue how the UK economy works. Either is bad.

As everyone has went in to a frenzy on the UK borrowing costs. Here's how UK borrowing/Bonds work in a nutshell: 👇👇👇

Nonsense - You are leaving your grandchildren an ASSET, not a burden. The national debt creates private sector wealth. And the private sector and the economy could not function properly without it.

Agree 100%

The UK national debt is the private sectors asset - and is nothing like a debt a household/ business has. The government DOES NOT borrow like a household or business. NOT EVEN CLOSE. Government spending creates the reserves that is used to buy the debt. (bonds)

The horse didn't kick the prick hard enough. He got exactly what he deserved,