Audio Interviews and Commentary about the Conservative Party by Jonathan Sheppard
November 25, 2008
Filed under Uncategorized
Public sector debt now here is the real ironyÂ . We run a significant trade deficit with China and our oil rich friends in the middle East.Â They of course run up huge surpluses and then proceed to lend us back the money that we have given them so that Alastair and Gordon can defer economic reality via a huge pubic sector deficit. The reward to China is to receive even more money from us in the form of interest payments.Â If they decide to stop lending then the Â£ collapses and we call in the IMF. Then we really will need a big box.Â One to carry away the remnants of the labour party!Â
So is the country bankrupt?Â My understanding is that we owe approximately 300% of GDP.Â All we need to do is live and cease spending for 3 years and donate all earnings to paying off debt.Â Of course that could never work so it will take far longer',more like decades.Â If you had a debt that would take you decades to pay off then bankruptcy might actually be a viable option.Â Maybe Mrs Thatcher had the right idea when she likened the managing of public finances to he father's corner shop.Â Labour have also used a shop as their role model;Â WOOLWORTHS!
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