Friday, 27 August 2010

Deadly Debt Spiral - Phoney War before the Storm?

The only people concerned about the economy seem to be analysts and commentators - and the unfortunate minority of those who have lost their jobs. The working majority seems to be oblivious of the fact that the ship of state is continuously getting closer to the rocky cliffs of insolvency. A recent report in the UK warned that total public debt may actually be as high a £4.84 trillion! How many ordinary people can deal with that type of number? It took even me longer than expected to figure out that this is around £80,000 per man, woman and child in the realm. Or put another way: total debt may be as high as £4,840, 000, 000, 000!! Shopkeepers in the UK and elsewhere report that customers have returned....we wonder how long this phoney economic war can continue

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