Now then, DEBT, a disease which haunts hundreds of thousands of UK citizens, well, actually, scrub that, it blights millions right around the globe. Not many at some point or other go through life without pondering "the van" turning up and the man with the clipboard knocking on the door. Sadly, the entire modern world is built upon debt and the management of it. Many companies are making money out of advising how to lend, or, advising on how to collect. Its is usually charities who advise on how to survive, many of those have had gagging orders slapped upon them. This is reality.
Sup Prime Loans is not a saying anyone will ever forget.
So, take a look around next time you go out, see the boarded up shops on the High St, or the ones with pointless art exhibits in the windows, designed to make the shops look less empty. All rather depressing really. If you don't own a car ( I don't) see how poor the bus service is, try finding a Dentist or getting a GP appointment, ( i've just done that, it's in 28 days). I could go on, you get the picture.
So Debt, the Tory Achilles heel. You would not think so, but it very definitely is. Cameron and Gideon changed everything, and brutally with it. True Conservatism went out of the window, it became an all out stampede to greed. All we heard about was the unending importance of THE ECONOMY. Nothing was exempt. Public services were painted as nothing but a drain on THE ECONOMY. Hospitals, Education, Armed Services, Police, Fire services etc everything was subjected to heavy handed cuts all in the name of THE ECONOMY. Endlessly feeding propaganda into our minds via flat screen plasmas across the nation, showing no shame or concern, a cold blooded drive to ensure that the lower classes fed the upper classes all draped around the unending love for the great God that is cash.
I could never think like that under any circumstances, however there are those who can only think in that way, we all know people like that. Usually the ones who have got plenty, and live in perpetual fear of ever having to part with any of it to help others. This is very definitely not the Tory way. And never will be . The great tragedy of today is that many who do not actually "have plenty" think they have. Usually ones who snapped up a council house on the cheap, and are now paying off their mortgages. So they have a few quid to spend on getting pissed in Portugal or a new shiny car to drive to Waitrose in. All well and good, however reality is about to bite them. By the way, these are the people who delighted in screaming abuse and turning purple on many of the door steps that I knocked on whilst campaigning this Winter. Such is Life eh ?
Anyway, Debt. The Tory God. Debt. We often hear that Labour would be unsafe if in control of the finances of the nation. All sorts of wild statements about the state of things 50 years ago, how could anyone possibly trust Labour after the events of the financial crash of 2008 ? Ah, well, even Mervyn King (no not the average darts player) former head of the Bank of England, and even Gideon Osborne have actually stated that 2008 was not the fault of the Labour Party, but that seems to matter not. Mud sticks.
Given the state all of the above, you would, by common sense , expect the UK Economy to be flying. After all, look at the massive amount that is being saved. It is not being spent on society. I don't see any signs of cash being wasted on ordinary people. Society is screwed BIG style every day of the week. Great swathes of Blighty are wastelands.
The North east, Yorkshire, Lancashire, Wales, on and on, the North is now nothing but a "Poorhouse". There is nothing here for the youth of today nor will there be for many years to come. All this crap re HS2 is testimony to that.
So, THE ECONOMY in 2020, let us have a little look into this awesome thing. We are heading into another decade of Tory rule, so, it surely must be a very healthy ECONOMY.
The current UK debt is £1.78Tr. A very large amount of money, it equates to 85% of GDP.
This is what the Tories have achieved via their savage austerity ideology.
There are various ways of looking at this, and you will find many versions of how to interpret it. You will find hardly any who put forward that it equals a good economic performance. Servicing this debt is estimated to be £48Bn or 4% of GDP.
The debt is up by about .8Tr since 2010. So, approaching DOUBLED. Latest figures show it is actually £2.17Tr due to Brexit etc.
About 5% of government budget is spent on paying interest on the debt.
However, I am led to believe that this figure does not include things like state and private pensions, if these are taken into account then the figure is put at around £4.8Tr or £78K per person. https://fullfact.org/economy/guide-economy-debt/
Insurance Companies own about 30% and the BoE about 25% of the debt, so, It would be very revealing to know exactly how much money these insurance companies are making out of our misery, or more to the point, who the shareholders are.
I am sure you can guess which side of the political divide they exist on.
This is a very complicated and to be honest "dry" and boring subject. Simple fact is the ECONOMY is sinking, and not only that, sinking rather quickly. Part of this is due to the ridiculous concept of people being in work but still needing to claim benefits. Shocking in the extreme that we have this with us in the 21st Century. People working, taking from the benefits pot and not paying any taxes, this is not complicated stuff.
As I said earlier, the ECONOMY is the Tory God, that thing which gives them all cerebral erections, yet we see nothing but danger in the state of it all.
We on the Left have had the Labour problems shoved down our throats for years, Corbyn was accused of everything but the world wars, Labour cant do economics, the unions will destroy the country,, on and on and on.
Why do we never hear about the Tory incompetence regarding the ECONOMY ????
Society NOT Economy (please). http://www.nationaldebtclock.co.uk/