Public Spending Review

Sorry about this, but, there's no money. It's a bugger, I know, but you remember when the Government told us there was free money to spend on anything and everything, and you believed them, and voted for it, and decided that everlasting free money and free everything and council houses for life and cheap hospitals and disability allowances for your sore thumb and equality consultancies and quangos to help unfettered immigration and it all made you feel so good that we were one of the most liberal countries in Europe?

It turns out, the money was not free after all. You have to pay it back, which I think goes against your human rights, but there you go.

Sooner or later, voters must take responsibility for their little black crosses. (Those who ticked the box marked "free money forever" appear to be whining loudest right now.)

- At the end of 2009-10 the real national debt stood at £7.9 trillion, over £300,000 for every single household in Britain (Tax Payer's Alliance)

The true cost of Labour's lies and spin is going to hit every one of us. I can see it in the astronomical rise in bills for the last year. It is going to get a lot worse before it gets better. People are going to lose jobs. Lifestyles will change. Families will come under enormous stress. It is not going to be nice.


Rebel Saint said...

I'm going to sound like some eschatological conspiratorial nutcase. But whether it's a deliberate conspiracy or just a conspiring of events ... I foresee global economic apocalypse, which will give chance for some global 'messiah' to introduce a global currency & economy.

Can someone somewhere please explain to me, where are all these national debts owed too? Are there ANY countries in credit or is it all some giant global ponzi scheme?

Jim said...


They're mainly owed to countries such as China, Switzerland, Canada , Norway etc.
Countries that kept out of the EU and / or have lots of natural mineral resources.
China has been dumping it's dollar reserves in favour of gold and other currencies as it's terrified that the US will devalue the dollar to zero with more QE ( money printing ).
As govt bonds come up for renewal in the US and Europe govts just print more money and send it to the bond holders. In exchange for the cash the govts buy toxic worthless bonds from their banks. This transfers all the rubbish onto the taxpayers and allows the banks to make 'a profit' and so pay bonuses.

Rebel Saint said...

Thanks Jim. So does that mean that all the debt of most of the world's nations is credited from just a handful of nations. They must be owed a LOT of money!

Is there somewhere that has a list of nations and the size of their national debt/surplus?

Jim said...

Hi Rebel

Most of the EU debt is still held within the EU. It goes around like pass the toxic parcel. When debt is due for renewal the country prints the money and pays it. The IMF and the Euro Central Bank print aswell but they're running low after bailing out Ireland ( who have gone downhill since their austerity measures and bailouts - not part of the plan :)). Good spoof of the problem here..

As for the rest of the world there's a good table here although you can add about 50% to the listed debt as it's out of date...

The US is about to start QE 2 although it has been secretly printing money since QE 1
UK debt is set to rise inexorably because even Gideons cuts won't be able to stop the rising annual deficit and debt re payments that are getting bigger and bigger. A total national debt of £7tr at the moment and rising.
'Deficit' is annual debt and 'debt' is total UK debt. Labour will try to muddy the waters with deficit and debt but keep that in mind.

strapworld said...

Watching Question Time last evening I quickly came to the conclusion we have, as a country, gone totally bonkers.

The politicians on that panel were so uninspiring and the only one that stood out was General Dannant.

Please, please CROMWELL COME HOME!