OK - so it's not really revenue it is GDP. Our debt mountain is now 400% of GDP.

In other terms A LOT.

And for some reason we are still one of the most creditworthy nations on the planet and are being encouraged, Vorderman style, to borrow even more money!

400% represents the total sum of our national debt, personal, corporate and mortgage debt.

I think the national debt is heading towards or even passed through 100% of GDP.

 

absurd isnt it ?

Mybe its always been like this , and others are worse

What would happen if we were suddenly prevented from selling to the far east

 

It's all OK though. Rising house prices will soon see us pull out of this mess.

 

If we run out of money just print some more. It worked out well for zimbabwe which has more BILLIONARES than anywhere in the world.

 

It wasn't referenced in the source

 

Those will be the ones who can afford to pay a man to push the wheelbarrow full of cash to go down the supermarket then!

Les

 

I think I saw our national debt to be £3.5 trillion now! Frightening isn't it.

Les

 

trout, do you write for the Mail? lol

 

They swopped em out for dollars now

trouble is theres not enough to go round and your average greenback now has similar texture to used snot rag , and similar colour


Still doesnt affect the party faithful - they just trade diamonds

 

£4.8 actually Les. Knock yourself out on this.

http://www.channel4.com/programmes/b...d-horror-story

 

Trout, as you say, we are still seen as creditworthy. So is the US. The worry is if at some point, for some reason, creditors wake up to what is going on. That has to happen eventually.

 

If I wrote for the Mail my post would have been something like...


DOOMED TO TEN GENERATIONS OF DEBT!!!

UK DEBT RISES AS MUSLIMS TAKE OVER THE ASYLUM

AAAAAAARRRRRGHHHHHHH!

 

And what happens then?





























To house prices?

 

Down, down, deeper and down...

 

http://www.youtube.com/watch?v=bNPJuJSVmNA

 

I've personally increased the debt to 400.000001% today having bought a new kitchen

Doing my bit for the economy

 

Is that the UK's credit rating?

D

 

 

 

I'm not sure about that. I don't think the system works assuming the state is like a househole.

It's more a kind of smoke and mirrors game with it's own momentum. Debt get's parcelled up and sold on, packaged etc. Who holds the parcel at the end?

 

My point was just that when demand for government bonds in some of these 'consumer economies' dries up slightly there will be serious problems. What's happening in ireland now could happen to a lot of western europe and - more importantly - the U.S. This 'new normal' we have now is like having economies on life support and the people financing it are like zombies; this has happened so gradually that people don't see anything wrong with it. That guy was right when he said we've never had it so good, but anyone in their right mind knows something like that is temporary, no matter how much someone tries to tell you otherwise.

 

Horror is the word for it alright!

Les

 

meh............ seen better. 700% of the oirish