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Britain's debt low by historical standards
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But that last spike, after the war was when we were effectively bankrupt.What happens in General, stays in General.You know what they say about assumptions! -
You won't be alerting anyone to anything with a mouthful of mixed seeds.Comment
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Originally posted by GreenLabel View PostWho are you trying to convince?
Us?
... or yourself?
Just interesting to put stuff in perpective, since all the media interest is in doom and gloomHard Brexit now!
#prayfornodealComment
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Originally posted by MarillionFan View PostBut that last spike, after the war was when we were effectively bankrupt.Coffee's for closersComment
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In mid-century the Carnatic Wars in India, the Seven Years War against France and the American War of Independence caused another ratchet in National Debt up to 156 percent of GDP in 1784.
But that was just the beginning. The Revolution in France and the subsequent Napoleonic Wars led to another explosion in military spending and the National Debt rose to 237 percent of GDP in 1816 after the battle of Waterloo. The rest of the 19th century was spent in drawing the debt down, to a low of 25 percent of GDP in 1914. That was just before the outbreak of the Great War in Europe.
Does anyone have inflation adjusted GDP growth numbers for the 19th century?While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'Comment
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An outfit called Tullett Prebon reckon our debt is much worse than it looks.
The real level of British indebtedness is widely misunderstood. The 75% reported public debt ratio excludes quasi-debt obligations which lift the total to 167%, and even this number excludes huge potential commitments created by financial interventions. Together, mortgage and consumer debt total a further 97% of GDP.Comment
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Originally posted by sasguru View PostI probably will be less affected by any downturn than most.Comment
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