Soldato
- Joined
- 12 May 2011
- Posts
- 6,305
- Location
- Southampton
This morning on the train I have found my way onto this website with a piece entitled The End of Brtain. Link here.
It's a pretty long article by Money Week but the gist of it is that the UKs debt is 900% of our 'total economy'. We've been borrowing for decades and the cost of borrowing (i.e. interest) has steadily fallen. The authors suggest that the time bomb Is that 'other people / foreign investors' will notice this and not invest and then the interest rates increase many times over so we can no longer borrow. This leads to us defaulting and extreme measures from the government to seize wealth from citizens, according to the article.
The article makes comparisons to Argentina ten years ago the Weimer Republic 80(?) Years ago and Greece today. It also compares to 70s Britain.
What do you make of this?
Whilst it sounds logical, the article is written in a very sensationalist tone and has to keep pointing out it's credentials and ends with "buy our magazine and we'll tell you have to survive! We can offer you a special fantastic super amazing price just for you because you're special"
The article compares to 70s Britian, which is somthing we survived. What measures were used to pull us out of theess last time? The article seems to suggest that the measures used last time only delayed the problem last time- can we delay it again?
Just thought I'd share this. Real facts or scaremongering to get Subscribers?
It's a pretty long article by Money Week but the gist of it is that the UKs debt is 900% of our 'total economy'. We've been borrowing for decades and the cost of borrowing (i.e. interest) has steadily fallen. The authors suggest that the time bomb Is that 'other people / foreign investors' will notice this and not invest and then the interest rates increase many times over so we can no longer borrow. This leads to us defaulting and extreme measures from the government to seize wealth from citizens, according to the article.
The article makes comparisons to Argentina ten years ago the Weimer Republic 80(?) Years ago and Greece today. It also compares to 70s Britain.
What do you make of this?
Whilst it sounds logical, the article is written in a very sensationalist tone and has to keep pointing out it's credentials and ends with "buy our magazine and we'll tell you have to survive! We can offer you a special fantastic super amazing price just for you because you're special"
The article compares to 70s Britian, which is somthing we survived. What measures were used to pull us out of theess last time? The article seems to suggest that the measures used last time only delayed the problem last time- can we delay it again?
Just thought I'd share this. Real facts or scaremongering to get Subscribers?
![[FnG]magnolia](/styles/overclockers/avatars/9.png){kind=avatar}
