Daily Doom

[DimPrawn]

UK public sector debt estimated at £135,000 per household - Telegraph

Mr Morgan puts the public sector debt – around £900bn or 60pc of GDP in official figures – close to £3.6 trillion when the effects of bailing out the banks, public sector pension commitments and PFI contracts are included. That represents some £135,000 debt for every household.

Taking in private debts, such as mortgages, lifts the sum to £5 trillion, or 340pc of GDP. "The United Kingdom's debt mountain is manageable if – and only if – strong economic growth is to be anticipated," he said.



Will the Germans bail us out?

[PAH]

I'm thinking of lending the government some money via Zopa.

What interest rate should I set? I'm thinking maybe 29.99% that the credit card companies still get away with.

[suityou01]

I'm thinking of lending the government some money via Zopa.

What interest rate should I set? I'm thinking maybe 29.99% that the credit card companies still get away with.

I think you'd stand more chance of seeing it again if you loaned it to some scabby crack whore.

[AtW]

Maybe it's time to split public from private debts - public sector repays its own debt with its own tax rates and spending cuts to ensure it, private sector already has to do it.

[scooterscot]

UK public sector debt estimated at £135,000 per household - Telegraph

Mr Morgan puts the public sector debt – around £900bn or 60pc of GDP in official figures – close to £3.6 trillion when the effects of bailing out the banks, public sector pension commitments and PFI contracts are included. That represents some £135,000 debt for every household.

Simple solution.

Relax the immigration policy to inflate the population to 8,100,000,000,000 and each of us only owe £1.

[snaw]

Simple solution.

Relax the immigration policy to inflate the population to 8,100,000,000,000 and each of us only owe £1.

Just read the actual report, seems all very well researched etc and we're all fcked. But then in the middle I read some bits and I wonder if an economist, putting together a paper should be quite so partisan:

"Labour’s period in office was
characterised not just by economic
and fiscal mismanagement but also
by the promotion of a culture of moral
absolutism centred around spurious
and selective concepts of ‘fairness’.
This culture, and the accompanying
sense of individual and collective
entitlement, is the biggest obstacle in
the way of effective economic reform."

Arguably true ( I don't think so), but for me it has no place in an economic research paper.

[Spacecadet]

Simple solution.

Relax the immigration policy to inflate the population to 8,100,000,000,000 and each of us only owe £1.

I thought you lived in Germany!

[scooterscot]

I thought you lived in Germany!

Still have a UK Ltd that refuses to stop generating cash. What can I do?