reply to post by Vitchilo
Yeah... it's all Cameron making it up...
UK's debt? 950% of GDP
How many times has that been debunked here on ATS? - by people far more financially aware and astute than me I hasten to add - I barely understand the
basics of it all.
Yet still you insist on repeating it until someone like stumason comes along and blows it all apart yet again.
Come on Vitch, I know you hate us English but I thought you were a bit better than that.
I seemed to have missed this thread first time around, but yes, I am sure I have ripped that 950% GDP/Debt ratio thing to bits in another thread. UK
debt, as in debt held by the Government, is around 85%, which is actually quite low when compared to other developed countries. For comparison, Japan
has GDP to debt ratio of around 130% and has done for years, yet they have no issue with it. The 950% figure is only touted around on the internet by
"questionable" websites, such as God Like Productions and is itself a highly distorted take on a report done by Morgan Stanley which used, amongst
other things, mortgage liabilities and private, unsecured debt.
On the note of the private, unsecured debt which is around £1.5 Trillion - if everyone who owed money was unable to pay, this would be more of a
concern to those who are owed the money than those who actually owe it. It is called "unsecured" for a reason.
I've done some maths, but no matter how hard I try, I cannot get anywhere close to the 950% GDP, which would be a figure in the region of £2300
Trillion - which is in common parlance £2.3 Quadrillion. There isn't that much money in the whole world - the global GDP is only around £80
So, in a nutshell, Vitch is talking bollocks, but then we knew that
As for the OP, I don't really have much to add that hasn't already been done to death. I honestly don't believe the Scots will vote for
Independence as the polls suggest no change to the 70/30 split.
The Krankies have been blustering lately since all the major parties torpedoed the "Keep the Pound Plan" - but that is all it is, bluster. Salmond
promised a detailed rebuttal of the Westminster position today in a speech, but that was just a load of hot air, rhetoric and trying to stir up the
old "English Bastards" routine which, thankfully, most seem to see right through.
None of what the SNP propose has been thought out at all and seems predicated on Scotland being the new Kuwait. The simple figures don't lie - at no
point whatsoever has the Oil revenue from the North sea (and this is ALL Rigs
, not just "Scottish ones" as there are good deal in "English"
waters) has ever exceeded the block payment that is sent to the Scottish Government from HM Treasury.
In order for Scotland just to continue as it is, much less do anything on it's own (Defence, Foreign Affairs, trade etc) they'd have to increase
taxes to an unsustainable level and they'd just see people flee south of the border, claim "non-domicile" status in Scotland and they'd lose more.