posted on Dec, 19 2011 @ 07:23 AM
reply to post by Vitchilo
I think you are reading the data wrong, take a look at the graph below the text you quoted, you see whilst all that debt is there, you need to look at
the way the debt is broken down, household debt is around 100% of GDP, this is relatively normal for every country in a free capitalist society, if
you look into the governments debt, this is less that GDP, this is actually quite good and why the UK retains its AAA rating, i.e. the Government can
pay its debts.
Where the issue lies is with the huge debt in the financial market, as you can see it dwarfs the actual UK debt, and most financial debt debt around
the world, now this is a terrible situation, but the exposure to this debt is not the UK's alone, not by a long way. You see London is the financial
capital of the world, and all of the banks are tied in there including all of the central banks, even the FED, and that debt is not BRITISH debt but
global bank debt and they are all tied into it via their UK branches, if it goes pop then every major bank in the world is going to take a massive
hit, because they have all exposed themselves to this massive ponzi scheme.
There wont be anywhere to run, because everywhere will be hit, every bank will be at risk of collapse. That debt you point out is a banking debt and
they are all in on it, all part of it and all exposed, if London goes teh the banking world collapses and there aint no hiding from it.