@stodge - as always - raises another very important point. If granny* is not in a care home, then someone is going to be looking after her. And if it's not the state, then it's likely to be somebody … (View Post)

Here's the thing, though. This causes moral hazard, because why save if the state will step in if you have no assets? So either people will just spend their money to avoid having it taken away to pay… (View Post)

Now for a heartwarming story: https://youtu.be/KRtyMCeDw8o?si=kWNMy6L_H7-0nCFa (View Post)

So long as you have your own currency, it's very hard to go completely bust. Now, you can end up screwing bondholders through the miracle of inflation, but that's usually better than the alternative. (View Post)

Comment of the day. (View Post)