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Realistbear

Is Our Debt Now Beyond 100% Of Gdp?

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http://www.statistics.gov.uk/cci/nugget.asp?id=277

In the calendar year 2009 the UK recorded a general government deficit of £159.2 billion, which was equivalent to 11.4 per cent of gross domestic product (GDP).
At the end of December 2009 general government debt was £950.4 billion, equivalent to 68.1 per cent of GDP.

If so, will we take the number 2 slot next to Japan (200%) for the worst level of deficit?

And what will be the market consequences?

Higher IR, huge job losses in the public sector and a Sterling devaluation perhaps.

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Chart tracking debt and political party in power at the time:

http://spreadsheets.google.com/ccc?key=tGMuiqthITq5XONbUPk6Tqg#gid=2

Edited by Realistbear

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http://www.statistics.gov.uk/cci/nugget.asp?id=277

In the calendar year 2009 the UK recorded a general government deficit of £159.2 billion, which was equivalent to 11.4 per cent of gross domestic product (GDP).
At the end of December 2009 general government debt was £950.4 billion, equivalent to 68.1 per cent of GDP.

If so, will we take the number 2 slot next to Japan (200%) for the worst level of deficit?

And what will be the market consequences?

Higher IR, huge job losses in the public sector and a Sterling devaluation perhaps.

I think the official answer is different from the 'real' answer - i.e. with all the PFI obligations and other 'off balance sheet' debt that the government has put the taxpayer on the hook for but now can't bring itself to tell them the truth about.

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I think the official answer is different from the 'real' answer - i.e. with all the PFI obligations and other 'off balance sheet' debt that the government has put the taxpayer on the hook for but now can't bring itself to tell them the truth about.

Our government debt is around the 400% mark. They just ignore 3/4 of the debt as 'off balance' sheet.

Hence the need to print and print and devalue future government pension payments.

It's criminal the situation we are in.

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Our government debt is around the 400% mark. They just ignore 3/4 of the debt as 'off balance' sheet.

400% is bang on according to this (link)

The figures Mr. Baker cited are truly worrying: official debt of £772 billion, itself a not inconsiderable sum, but utterly dwarfed by the government’s existing pension obligations, which raise the total to £4,771 billion, about six times as much. And, if you add in the obligations of the banks, now a ward of the state in more ways than one, you get a figure (using ONS data) of about £6.3 trillion or £6,300 billion – or if you prefer, £6,300,000,000,000. Figures of this magnitude have so many zeros they become incomprehensible, but to give this last figure a sense of magnitude, it is over four times UK GDP.

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http://www.statistics.gov.uk/cci/nugget.asp?id=277

In the calendar year 2009 the UK recorded a general government deficit of £159.2 billion, which was equivalent to 11.4 per cent of gross domestic product (GDP).
At the end of December 2009 general government debt was £950.4 billion, equivalent to 68.1 per cent of GDP.

If so, will we take the number 2 slot next to Japan (200%) for the worst level of deficit?

And what will be the market consequences?

Higher IR, huge job losses in the public sector and a Sterling devaluation perhaps.

And again all the fault of those nasty ConDems.... before the election the recovery had been 'locked in' it has only taken a few months for the Tories to revert to form and ruin the economy in their evil rich person way.

(or so all the new Labour leader candidates would have us believe, the sad thing is many many believe them.

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Our government debt is around the 400% mark. They just ignore 3/4 of the debt as 'off balance' sheet.

Hence the need to print and print and devalue future government pension payments.

It's criminal the situation we are in.

Off-balance sheet to me implies the sort of behaviour seen on Rouge Traders when they have to go bankrupt and start again the next day with a new company name.

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Are these worst case scenario type things. For example, i think ive heard denninger or someone similar go on about projected medicare liabilities of $50 trillion, presumaly over a long time where all the obese people in america need lots of expensive care.

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Off-balance sheet to me implies the sort of behaviour seen on Rouge Traders when they have to go bankrupt and start again the next day with a new company name.

Why pick on red heads?

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I think the official answer is different from the 'real' answer - i.e. with all the PFI obligations and other 'off balance sheet' debt that the government has put the taxpayer on the hook for but now can't bring itself to tell them the truth about.

I keep hearing about these off-balance sheet items from Daily Mail readers. They never count the off balance sheet assets covering these items though. I wonder why?

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I keep hearing about these off-balance sheet items from Daily Mail readers. They never count the off balance sheet assets covering these items though. I wonder why?

If it is 400% of GDP we are in the number 1 slot with Japan a distant second with 200%. IIRC the US are about 6th with 90% in the hole.

If our debt is the 5TR or so mentioned recently what assets do we have to balance? Bonds? Notional wealth of our housing stock (valued at 40% of the total value of UK Plc at c. 8.3TR a couple of years ago--ONS data)?

I am not sure what, exactly, is holding us above water and why the "ratings agencies see our prospects as only "negative.

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If our debt is the 5TR or so mentioned recently what assets do we have to balance? Bonds? Notional wealth of our housing stock (valued at 40% of the total value of UK Plc at c. 8.3TR a couple of years ago--ONS data)?

I am not sure what, exactly, is holding us above water and why the "ratings agencies see our prospects as only "negative.

I'm afraid this is one aspect that the Government controlled media will not tell you and not explain to you.

For example, if the state builds a nuclear power station that costs £1bn and is worth £1bn, conventional wisdom will say that the two items net off in our balance sheet. In the mad accounting world of national deficits, we've just blown £1bn worth of money.

Hence we sell all our utilities and national assets to German and French semi-state enterprises.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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