The debt time bomb that is Britain

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jbaccrington said:
Are we borrowing too much money?

Could Britain end up like Greece?

http://www.youtube.com/watch?v=AYVZKpH3pnM
Click to expand...

Yes, most of the west are total basket cases with debt. The US will never pay off its debt and when it collapses and takes the dollar with it then the rest of the world will follow. Only a big reset like this will finish our debt obligations. Lets just hope it happens quickly and the next system is more fair.
 
It's not the stuff on the balance sheets we need to worry about - it's the stuff not on there. Unfunded pensions liabilities that are paid out of council tax? I don't think people are going to stomach paying huge amounts of council tax only to receive a relatively small % back as services.

We won't end up like Greece, but we will have to sort it out sooner or later.
 
Well we could always print our whole national debt lol. Just print out the trillions and by the time they get thier money it will be well worthless...

I wonder how the chinese would react?
 
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