The national debt is even larger than initially feared, according to a think-tank.
Official figures, from the Office for National Statistics, show the total public sector debt is estimated to be £876billion, equal to £33,100 per household.
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...That is the equivalent of £138,360 each if it were divided between all the 26million households in the country. It is also the equivalent of 240 per cent of Britain’s economic output.
Tory MP Brooks Newmark: 'We have to be honest with taxpayers about the true extent of the liabilities.'
Brooks Newmark, Tory MP and co-author of the report, The Hidden Debt Bombshell, said: ‘The size of the country’s debt is bad, but actually it is even worse than people think.
'We have to be honest with taxpayers about the true extent of the liabilities. Otherwise, it is Enron accounting.’
This is a reference to the American energy giant which collapsed into bankruptcy a decade ago after a web of false accounting was uncovered.
Read more: HERE..
HSBC Report Warns we Only Have 50 Years of Oil Left
And President Obozo wants us to believe that England is buying our debt (t-bills) and keeping us afloat?
ReplyDeleteWhen is this charade going to end? When will reality catch up to us?
presidunce obusho did the same and bailed out the banks to the tune of trillions, but no one said anything about it, also no help to new orleans, stand down on 911, started two unwinnbale wars, sanctioned torture, and on and on and on, that is how we got here.
ReplyDelete"HSBC Report Warns we Only Have 50 Years of Oil Left." Who the hell is HSBC? They are a bank and financial services company. They have no expertise in oil or geology. This is nothing but PROPAGANDA of the evil banksters. Peak Oil is a complete fraud. Evil, evil propaganda.
ReplyDeletebuy silver protect yourself from inevitable inflation tsunami thats coming Buy NOw
ReplyDelete1
While I do not condone your racist slant 4>46 I
ReplyDeletedo think that the USA has done more for the 60 million black people that live here than their "native land " ever could. And for the 3.26s of the world who desperatly try an attempt tp compare the brainpower and accomplishments of these 2 countries - I say
Get Real !