So there we go. We spend a shitload of cash. Now to hear some people speak, we can ignore the lines ‘debt interest’ and ‘shortfall’ and carry on spending until some unspecified point in the future when we’ll be able to afford it.
Now I’m no economist but I call bullshit on that notion. If you don’t pay off the shortfall as quickly as possible, then the debt interest is going to keep going up. And before you know it, you’re on the phone to Ocean Finance, begging for them to leave the TV while your wife sobs in the background (update: Burning Our Money has covered exactly that subject today)
Anyway. We owe loads. Penny in the hat?
(btw: if you fancy embedding it in your own site, knocking yourself out:
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superb!
One of the best infographics I’ve seen yet. Awesome.
And now the Bank of England wants us all to spend more to ‘grow’ the economy! Surely this way of living is flawed……..we are being asked to do what the Government is doing but on a smaller scale.
Go on everyone press the self-destruct button.
I know! They’ve slashed the interest rates to pretty much zero so that there’s hardly any point in saving your money… the IMF are urging us (apparently) to print even more cash… we’re continuing to borrow insane amounts… so the “cure” is apparently more of the stuff that got us in this mess in the first place. Genius is an overused word, but…