Sunday, February 21, 2010
Is the Debt and House Price Bubble an accident?
"William Hague has accused Gordon Brown of pushing the UK into "as much debt as possible" in an effort to make life tough for a Tory government". The de facto deputy Tory leader compared the Prime Minister and his Labour administration to a retreating army "poisoning the wells". "For the 10 months of the financial year so far, public sector net borrowing has reached Â£122.4bn with the UK's net debt now Â£848.5bn, which is equivalent to 59.9% of the country's annual output - the highest proportion for a January since the 1974 financial year" ( and what about the new housing bubble?)