Friday 31 October 2014

Osborne retires South Sea and WW1 debt

This just goes to show how terrible Government can be, politicians have been stuffing us with debt for centuries. It makes me laugh (hysterically) to think that my great-great grandchildren will be writing something similar about the Great Recession debt - but its likely to be true, although with shorter maturities the morass of Government debt will not be so identifiable.

Which, makes me consider on a Friday perhaps it would be better for the Country is all debt raised was hypothecated, so much for defence, the NHS, for investments, for State Pensions. In the short run it would mean nothing, but after about 10yrs the data would start to look more meaningful. All those complaints about say, the Baby boomers sucking up all the money having over-spent in their day, would be much more directly attributable.

No way Governments will ever agree to this then!

Still it's Friday...

The country is running out of money and everyone is fighting. It reminds me a lot of my childhood.” – Conan O’Brien

“Interest on debts grow without rain.” -Yiddish Proverb

“Forgetfulness. A gift of God bestowed upon debtors in compensation for their destitution of conscience.” -Ambrose Bierce

“Blessed are the young, for they shall inherit the national debt.” -Herbert Hoover

“In the long run we shall have to pay our debts at a time that may be very inconvenient for our survival.” -Norbert Wiener


Bill Quango MP said...

“Good times are when people make debts to pay in bad times.”
-Gordon Brown

Electro-Kevin said...

Excellent, BQ

I don't blame the Boomers for debt but I do blame them for the EU and I also blame them for squandering the safest and most stable society ever bequeathed man.

Candy off of baby (boomers)

dearieme said...

"the safest and most stable society ever bequeathed man": I know what you mean, but it turned out not to be stable after all.

Electro-Kevin said...

Well it isn't stable now !

Budgie said...

I try not to think about the national debt; I suspect I would instantaneously combust if I did. The Tories have been hit for "austerity" whilst doubling the debt. How is it possible to be so incompetent?

And then you have the patronising statement "the national economy is not like a household economy, y'know". Come back Badger - all is forgiven.

Electro-Kevin said...

They tell us 1.7m new jobs are about to be created in the UK.

Graeme said...

it is ironic. After years in which the Trustee Investment Act forced trustees to invest in 2.5% consols and 3% war loan....which forced many dependants into poverty and many trusts into capital losses. For most of my life, those funds were never competitive with ordinary gilts. So now, when at long last they are, they get retired!

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