In all this time, the problem has eaten more than £12 trillion in public funds. It has been at the root of practically every major political argument in this country, and it affects every aspect of the way we live our lives. In fact, you will certainly see the consequences of this deep rooted problem unfold across the cities, towns and villages of Britain. No one will escape the fallout and pensioners and those vulnerable are likely to be the most affected. Our system needs to be repaired and much more than that, we need to search for and demand alternatives.
The same financial problems that have been tracked from bank to bank, from company to company for more than at least seven years, have now found there way into the very heart of our financial system, which continues in disarray.
The next phase in this crisis could threaten our very way of life. We know that printing mountains of money can only end in disaster. And, unlike most of the presenters on TV and in the mainstream press, some analysts understand what’s really going on, but it is in there interests to deceive us. Together with tiny interest rates and fictitious capital- it could well again end in disaster. The real bosses of our corrupt system, know all this has to change. So much for the new statistics.
If our precious NHS is sold off and benefits are scrapped, the confusion will turn into rage and huge campaigns.
It’s clear: our public finances are in an enormous mess. And to some extent, some politicians will admit it. But add in our financial, personal and private debt and an even darker picture emerges.
Compared to the size of our economy, Britain is now one of the most heavily indebted countries in the Western world. That’s official. Our total debts stand at more than six times of what our entire economy is worth.
Proportionally, that’s more debt than Italy, Portugal, Spain and almost twice as much debt as Greece. Those are four countries already in the throes of financial crisis. We’re the odd one out because we haven’t collapsed as yet. But things can’t stay that way for long.
The only countries that have more debt than us are Japan, where the economy has stagnated for 20 years and the stock market crashed.
That means the most important trend of the next twenty years is almost certainly rising interest rates.
And as interest rates rise, our record debts will become impossible to bear. And what will happen to all those that purchased on a buy to let basis?
When these events unfold, very few people will have any idea how to respond. Most will see the assets they have worked all their life begin to lose value, rapidly.
It’s essential we all prepare for these events. You can’t rely on mainstream commentators to help you. We need to start real debates around the country to prepare for a new and non speculative system, this is possible and in the interests of us all. And no, this is not a scaremongering blog it is simply written to enable us all to see that there are real alternatives.
