So there are these numbers (infinite) which bankers tap into and pass around like energy packets. It doesn't interest me enough. .................What have any of these iffy extrapolations of yours to do with "The End of Britain" ?
Well .... at least STUD gave it some thought which is more than you say you did as you consider ‘financial/banking’ subjects an abstract concept in which you have no interest.
All countries are suffering the same problem’s, they are ALL in debt it is only the magnitude of the debt compared to GDP that varies. So looking at Cyprus is in context, as it is more likely to collapse before the UK does, but the UK and many others will collapse and for the same reason. It is inevitable!
STUD:
So we have the same concept of the level of Bank debt which is about €60-€65bn? As I said that figure would not include non-banking debts and of course the Government debt. So for such a small Island and a small population (840k - 2011 census: 78.6% Cypriot, 21.4% Non-Cypriot) they seem to have a disproportionally high level of debt.
So, just the Bank debt is equal to €77k per person. If you then add the Government debt which appears to be running now at 116% of GDP, not only is the country spending 16% more than it earns but the Government debt and the Bank debt is rising daily. So I think your prediction of more financial problems in the future has a very, very high probability of coming true. That is of course unless these financial experts wake up before it is too late and change the system ....... I won’t be holding my breath on that!
http://www.tradingeconomics.com/cyprus/government-debt-to-gdp
I again ask ...... where do you think all this money that we have as debt, came from in the first place? Have a guess? Maybe this will be of interest and explain the origin of Bank created 'money'.
What they say actually makes sense, maybe not perfect but at least on the right lines. By reading the comments you can tell those that know what they are talking about and those that don’t. There is an awful lot of misunderstanding about Banking and money but when you go through the facts available, common sense has a lot going for it. My criticism of Positive Money is they explain what needs to be done (which is easy) but say HOW to do it. That is far more difficult.
http://www.theguardian.com/business/economics-blog/2014/feb/06/change-uk-money-system-solve-long-term-economic-problems
