I end up in some strange places when doing a little research.

Recently I came across this Debt Clock.

Good heavens I thought, prodded myself a few times to check I was not having a nightmare.

Then got hypnotised for about ten minutes till I had to lie down for a while to recover from the shock.

Now I am certainly not an economist but wonder if this debt is true.And I know there are wise ones in these forums that can answer difficult questions.

I looked elsewhere as well but for now this post will do.

Just a couple of questions.

1-What would happen if we took the batteries out of this clock and said we cannot pay back this debt.

2-I see many towns sinking into debt and struggling like never before.

Cutting back till they can cut no more. Absolutely skint to put it mildly.

What would happen if a town said Thats it we are bust, we can do no more, it is affecting our town and its people far too much.

3-A silly question possibly, would a Government knowing that they are skint risk the health of a community in the outside hope that something like Fracking half the country away would possibly reduce this debt.Kind of desperation thought.

I know at the moment to some reading my threads elsewhere possibly think I am obsessed with Fracking.Certainly worried for sure.

Just another thought out there for people to have their say.

Oh yes a link-That clock that is driving me mad possibly.Someone whip the Battery away.

The UK national debt grows at a rate of £5,170 per second!

http://www.nationaldebtclock.co.uk/

Oh go on then, people probably think I have lost the plot anyway.

Take your pick.

World Debt Clocks. Starting with United States Of America

http://www.nationaldebtclocks.org/

'..the real national debt is closer to £4.8 trillion, some £78,000 for every person in the UK.' (from your link)

the govt isn't going to get 78k off me, i've paid my dues....

Thanks Ford, I had no idea:noidea: it was that large.

Another thought just arrived.

For anyone in debt or has been in debt you know how stressful it gets as you try to find your way out of it.

You try anything, argue:argue: perhaps like never before.

But this is Countries we are talking about.

Oh dear.

What is to come.

I had better add I do tend to add a touch of Drama.

I want you to sleep tonight not worry about what ifs.

For anyone in debt or has been in debt you know how stressful it gets as you try to find your way out of it.

You try anything, argue:argue: perhaps like never before.

 

 

But this is Countries we are talking about.

Exactly, So all you do is

No1 give the politicians an inflation busting pay award and massive expenses, to ensure they aren't affected by their decisions

No2 sell your children into energy charge debt so foreign companies can make massive profits from building nuclear reactors on UK soil (well, eventually after lots of massive extra public money injections anyway),

No3 ... cut the health service budget while leeching funds from what you dont cut with fines for not meeting carefully unachievable targets.

No4 make sure your business buddies are looked after and subsidised to the tune of £3,500 per UK household (https://www.theguardian.com/politics/2015/jul/07/corporate-welfare-a-93bn-handshake)

... sorted ( well the most important issue of politicians and their mates pay and expenses is at least)

Debt can be a good thing. Not many people can buy a house without a mortgage. Most of the government debts are long term, with i think an average bond period of over 10 years. If you look at the accounts of the Bank of England, you will see how much UK Government debt they own. From memory it is over 50% BOE owns and as bonds mature, they get rolled over again at the relevant interest rate.

What is more important is that the Government fuels the economy, so GDP increases, they collect tax commensurate with size of economy and are seen to be delivering the type of economy that encourages investment.

The danger on the horizon, is that there is another Banking crisis mixed with a trade war involving various countries. The UK would get screwed partly due to Brexit, as the EU and US had very different ideas. Last time there was a Banking crash, Obama, Brown, Merkel and all other world leaders worked together. With Trump as President, good luck with any US cooperation with other countries, as Trump would put Wall Street interests first.

'..a figure that can only exponentially increase unless the entire mechanism of Government finance is overhauled.' (from the link)

how are they doing this, cuts, increased taxes (if not directly) etc. there are so many cuts going on/proposed, to reduce all this 'debt'.

but, as mentioned above, at the expense of who; joe citizen.

5K per second, this post was worth around 30k!

All started in the 80's imo the big hole without a bottom grew and grew.

I remember going back a few years posting on here it worked out the owing was £40k per household. Inflation I see!