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