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| What would happen ? https://b65a9t-westlondonchatcom-7590.site.tb-hosting.com/viewtopic.php?f=1&t=1142 |
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| Author: | john [ Sat Jun 08, 2013 7:39 am ] |
| Post subject: | What would happen ? |
After seeing a woman winning £384 million on a lottery what would happen in the UK if someone won it , and gave every one in the UK say £4 million would there be anyone at work ? the next day i am interested to know , would some greedy people still carry on trying to make more ? or try to earn more interest on it ? would wages have to rise |
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| Author: | jim [ Sat Jun 08, 2013 10:50 am ] |
| Post subject: | Re: What would happen ? |
a loaf of bread would be £100 000 all things are relative, it would take time to settle down but it has to even out, rich folk need poor folk, as in the game of life, money is the way we keep score those who succeed, have more than those who fail, rules of the game.  
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| Author: | jim [ Sat Jun 08, 2013 1:52 pm ] |
| Post subject: | Re: What would happen ? |
more to the point is the guy with the £385 million really any richer than the woman with £384 million ? not like having one million, to another guy with sod all    
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| Author: | geezer466 [ Sat Jun 08, 2013 10:52 pm ] |
| Post subject: | Re: What would happen ? |
Simple and elementary economics. This is the sort of stuff covered in secondary school maths these days. The answer lies in understanding inflation. If there is a lot of money in an economy chasing a finite number of goods then the price value of those goods will rise. The housing bubble is a prime example of how it works. 1. Banks were willing to lend often eye watering amounts of money. 2. The number of people wanting to buy increased thru natural demographics but primarily immigration. 3. They were all chasing a limited supply of assets and consequently were prepared to outbid each other to secure an asset. If everyone in the UK tomorrow were to wake up with £1 Million deposited in their bank accounts then by the time the shops opened the price of a loaf of bread would be £750,000..... This will fill in the rest of the blanks....http://en.wikipedia.org/wiki/Inflation |
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| Author: | jim [ Sat Jun 08, 2013 11:27 pm ] |
| Post subject: | Re: What would happen ? |
It is fact a Bank will lend you money for any extravagance boat, glider, etc, but never to buy food first prove you don't really need it, then ask.
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| Author: | john [ Sun Jun 09, 2013 12:48 pm ] |
| Post subject: | Re: What would happen ? |
but no shops would be open , as no workers would go to work , would they i supose we would have to buy from abroad |
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| Author: | geezer466 [ Sun Jun 09, 2013 8:57 pm ] |
| Post subject: | Re: What would happen ? |
Why wouldn't they go to work? £1Million won't last long if it only buys you the equivalent of £1 today. Of course wages would be forced up to the same level so that would put the average wage in the UK around the £25 Billion mark annually.. Its all relative. Pint of Milk £750,000 loaf of bread around the same. New Ford Mondeo would cost around £30 Billion............. |
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| Author: | Batty bat [ Sun Jun 09, 2013 9:06 pm ] |
| Post subject: | Re: What would happen ? |
it would be a bit like the Italian lira, I guess |
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| Author: | jim [ Sun Jun 09, 2013 9:58 pm ] |
| Post subject: | Re: What would happen ? |
you would be able to buy lira at about 12 grand each 
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| Author: | festive50 [ Sat Jun 15, 2013 10:42 pm ] |
| Post subject: | Re: What would happen ? |
john wrote: After seeing a woman winning £384 million on a lottery what would happen in the UK if someone won it , and gave every one in the UK say £4 million would there be anyone at work ? the next day i am interested to know , would some greedy people still carry on trying to make more ? or try to earn more interest on it ? would wages have to rise Huh! Are you saying that the population of the UK now conssts of only 96 people? i.e. 384/4 = 96 Phil
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