August 2017
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We are broke. We are bankrupt. Are we about to see the “end of Britain”?

This year, under their “austerity” plans, the useless Coalition will spend £120bn more then it takes in taxes. And next year and the year after and the year after. So the Government will have to keep borrowing and borrowing and borrowing just to prevent a complete economic collapse. But nobody, not even a country can afford to keep on increasing its debts forever. At some point lenders will realise debts can never be repaid and will push up interest rates or refuse to lend money altogther.

Then we face financial and social collapse – there will be no money left to bail out banks again, so many people will see their life savings disappear and will be left impoverished living off state benefits: there will be no money to pay public-sector workers, so rubbish will pile up in the streets and bodies will remain unburied: the Government will be forced to cut benefits and pensions by up to 40% (as in Greece) and there will be rioting and social breakdown: exchange controls will be introduced to prevent people fleeing abroad with their money: we will only be able to take £500 (or whatever limit) on holiday and will be banned from using credit cards abroad: and the Government will nationalise all our pension savings (as Hungary did recently) and use the £800bn of our money to try to pay down our debt, again impoverishing millions.

And there is nothing anybody can do to avoid this.

Please just look at one chart – our rising debt level (below) – and see if you can find a happy ending to this situation.

 

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