The UK debt.

[joe-90]

So far this year we've borrowed 65.5 billion pounds.

That's £65,500,000,000.

That's 65 billion quid to add to the nearly 1 trillion we already owe.

A trillion quid is £1,000,000,000,000.

So 65.5 billion divided by the number of people in the UK =

£65 500 000 000 / 60 000 000 = £1091.66 over 1000 quid so far this year.

If we can't stop the borrowing - when are we ever going to pay it back?

Simple. We aren't. We can't. We won't. Not now. Not ever. We are Greece by another name.

 

[enyam]

If we can't stop the borrowing - when are we ever going to pay it back?

Simple. We aren't. We can't. We won't. Not now. Not ever. We are Greece by another name.

And the problem with that, is?

 

[joe-90]

Rioting and starvation. Homelessness and hopelessness.

 

[enyam]

Rioting and starvation. Homelessness and hopelessness.

We've already seen that during the week so by not paying it back nothing new will happen,so why pay it back and who wants this alleged money we owe.

 

[joe-90]

The people we borrowed it off.

 

[enyam]

Its all very well using the rolling eyes smiley,who are the money lenders? all we hear from Dave,George and uncle tom cobbly is the deficit not the actual debt so does it exist or as it been written off?If you pay any attention to those that pretend to know is that they have a plan to halve the deficit over the five years that this shower are in power,so no one is calling for any debt to be paid back.

 

[breadnbutter]

 

[breadnbutter]

The people we borrowed it off.

 

[Djnikon]

The people we borrowed it off.

Who did we borrow this money off exactly? This is a serious question. All nations are doing the "we'd love to help you out but, jeez would you know it, we're a bit hard up ourselves" act.
So who had these spare billions lying around that they could throw at us? And what was the repayment plan? In fact, how do you even start that conversation? "You'd like to borrow HOW MUCH??? And pay it back over HOW LONG??"
Haha, I would love to have heard that discussion.

 

[Space cat]

Who did we borrow this money off exactly?

That's a very good question. A quick search on the internet for "Who do we owe all the money to?" produced this:

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

I did a very rough calculation, rounding each number to the nearest (US) billion, and it came to a whopping 66 US billion. Just think what that means. That's the total external debt of (nearly) every nation on the planet - including Switzerland.

So who lent us all the money? Is there some bank on Mars - or maybe Andromeda - where only the select few can open an account? Those alien bankers must've been pretty reckless to have lent so much to a planet that can't even build a simple warp engine. Maybe they went bust and now nobody knows who, or where, they are. More to the point, maybe they have lost all record of us so our debt is effectively written off.

 

[Djnikon]

. More to the point, maybe they have lost all record of us so our debt is effectively written off.

Do you think the statute of limitation applies to this? Maybe if we just stop answering the alien debt collector calls it will all go away in 6 years...??

 

[enyam]

So who lent us all the money? Is there some bank on Mars - or maybe Andromeda - where only the select few can open an account? Those alien bankers must've been pretty reckless to have lent so much to a planet that can't even build a simple warp engine. Maybe they went bust and now nobody knows who, or where, they are. More to the point, maybe they have lost all record of us so our debt is effectively written off.

There is no debt, the bank of England has printed more money ie quantitative easing,there is no one to pay it back to.There is a deficit of paying out more to the whole system,welfare,defence, Europe etc than the economy brings in with tax's (GDP), this is what they are putting the squeeze on.

 

[joinerjohn]

But,,,, at least this 65 billion quid we've borrowed,,, was at a cheaper rate than Greece could borrow it at.

 

[merlin50]

some of it comes from china they lend it to us as we give them foreign aid

 

[Brigadier]

Haven't we just borrowed it off

The banks (who we've propped up anyway)? So tell 'em to shove that.

China (so we can keep their tat producers in business)?

It's all make believe money - the "debt" may just vanish as quickly as it became headline news. Possibly