Thursday, February 18, 2010

Looking at the graphs… I’d say it is very bad

UK borrowing: How bad is it?

Time to face reality. Time to face the cuts.

Posted by thecountofnowhere @ 02:20 PM (1660 views)
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4 thoughts on “Looking at the graphs… I’d say it is very bad

  • 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

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  • landofconfusion says:

    “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!

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  • 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.

    Table hosted by The Economist

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  • 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!

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