Britain is the next Greece: 1 in 5 has to borrow money to buy food

Discussion in 'Economics' started by DollarBondsCL, Mar 5, 2012.

  1. If you take this

    Cash-strapped Britain: One in five has to borrow money to buy food
    www.dailymail.co.uk/news/article-21...row-just-stay-alive-use-credit-groceries.html

    And combine it with this

    85% of Greece's debt will be owned by European taxpayers
    http://blogs.telegraph.co.uk/financ...ces-debt-will-be-owned-by-european-taxpayers/

    And this

    Spain's unemployment rate hits 22.9%
    http://www.independent.co.uk/news/world/europe/spains-unemployment-rate-hits-229-7469750.html

    And top it off with this

    Euroland will pay for this monetary madness
    www.telegraph.co.uk/news/worldnews/...oland-will-pay-for-this-monetary-madness.html



    What do you get?

    You get a make believe system that functions solely based on ECB and FED money print and pump. This can work.....for some time....when this whole thing blows up. I wouldn't want to be around. :/

    Probability indicates I will be around though :(
     
  2. zdreg

    zdreg

     
  3. zdreg

    zdreg

    Probability indicates I will be around though

    should we start a collection to fund a ticket for you to a safe haven?
     
  4. And where would that be?
     
  5. just21

    just21

    Uk government aim to make the first £10k tax free by 2015. That should help.
     
  6. Who isn't the next Greece?
     
  7. I really don't think there is a way out of owing 500 percent of GDP and the rest.
     
  8. Russia, South America, China, Australia, Canada to name but a few.
     
  9. just21

    just21

    GDP is a trillion, government debt by 2015 will be 1.5trillion. Add on PFI and pension liability. How do you get 5 trillion?
     
  10. #10     Mar 5, 2012