Thursday, April 24, 2014

And what about the off balance sheet debt?….

Government borrowing falls to its lowest level since before the financial crisis - but national debt soars to a record £1.27 trillion

'The debt has doubled in five years, tripled in nine years and quadrupled in 12 years as Britain lived way beyond its means.'

Posted by hpwatcher @ 04:29 PM (4391 views)
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3 thoughts on “And what about the off balance sheet debt?….

  • Only £50,000 per household…pah!

    Try to see the positives, chaps!

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  • Only £50,000 per household…pah!

    Try to see the positives, chaps!

    Quite. It’s small change…..but remember – it’s different this time, it’s hyper-inflation.

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  • stillthinking says:

    I think that that guy Steve Keen does have a point, that its the aggregate level of debt because there is no way to prevent pulling demand forward from later reducing demand. If the government inflates away then they reduce the spending power of the savers which loses demand. As we go forward to austerity, austerity is -the same- as tax increases for the areas where applied.
    I mean the government cannot stop the consequential fall in demand without real growth. That aside, the tories are in a situation where they know for sure that labour would run up the debt to the max so there is no point not running up the debt to the max themselves. Then what do labour have to say at the next election, there is no point to them without the free spending give away. Maybe Osbourne is readying a poisoned chalice of asset collapse that will keep Labour out for a generation, looked what happened to loyal old ian duncan smith. Osbourne is young enough to come back as chancellor after a term.

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