Friday, September 18, 2009

Record breaker

Public sector borrowing highest on record

Unfortunately Roy Castle is in the same state as the UK economy. The government can only spend the "real" saving rate, i.e. their borrowing depends on blowing deferred consumption by panicked UK denizens and foolhardy foreigners. If the economy does pick up then consumption would of course need to be switched to those who deferred earlier. Will the confiscated consumption come from a) unemployed public sector workers b) anybody who works c) borrowers d) savers ?

Posted by stillthinking @ 04:12 PM (726 views)
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