Thursday, Feb 18, 2010
Looking at the graphs... I'd say it is very bad
ThisIsMoney: UK borrowing: How bad is it?
Time to face reality.
Time to face the cuts.
Posted by thecountofnowhere @ 02:20 PM (1163 views) Add Comment
7 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. hpwatcher said...
The facts:-
However, the UK does not have as bad a debt position overall. The UK's net debt was confirmed today as £848.5bn - the equivalent of 59.9% of the country's annual output. This is some way below the so-called PIIGS – Portugal, Ireland, Italy, Greece and Spain. Greece has net debt equivalent to more than 100% of its GDP.
Read more: http://www.thisismoney.co.uk/news/article.html?in_article_id=499889&in_page_id=2&position=moretopstories#ixzz0ftitbRag
2. landofconfusion said...
"However, the UK does not have as bad a debt position overall."
Looks like that advice Brown took from Goldman Sachs is paying off. And you all though that him selling off our gold (to 'institutional' buyers) was BAD!
3. 51ck-6-51x said...
It's a lot more complicated than how much debt a country has as a proportion of GDP... hence the red Britain in the heat map, whilst Italy with 100% and Belgium with 85% are orange.
The below featured in an Economist article last week, although I do not agree with their final ordering method of ranking each of the first three measures and then summing - I think some weightings may make for a better final ordering. Note that they place us in a worse state than Portugal. They neglect the possible Euro zone support and the own-currency denomination effect too. There is certainly a lot to take into consideration though.
4. hpsceptic said...
Further proof that people buying houses now are entirely deluded. This "dead cat bounce" cannot last. Not with unemployment rises and budget cuts of shocking magnitude on the horizon. This is going to hurt!
5. This comment has been removed as it was found to be in breach of our Blog Policies.
6. This comment has been removed as it was found to be in breach of our Blog Policies.
7. This comment has been removed as it was found to be in breach of our Blog Policies.