Quote:
Originally Posted by nomadking
One thing that keeps being overlooked is that Labour's excessive borrowing and spending made the economy look better that it actually was. So any comparisons are misleading. Just as an individual can appear to have a fantastic standard of living as long as they can keep borrowing money.
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Without a doubt, doesn't change that the same bubbles that fuelled this are being kept up by the current government as much as possible.
The recession is apparently over because the economy is growing, I would speculate that many would disagree with the GDP figures as they increasingly feel the pinch.
The government has made a conscious decision to bail out borrowers and to inflate away debt. They didn't have to choose this course, and it's frankly immoral that they have chosen the most insidious of tax rises, inflation.
Our current national debt is £977 billion according to
http://www.debtbombshell.com/ - the BoE owns £177 billion of that and could tear it up tomorrow -
https://mninews.deutsche-boerse.com/...ing-free-float - and will own more as that is again what it's planning to purchase.
It's kinda amusing when you think about it, not only are we allowing inflation to reduce the real value of our national debt, we're printing money to buy it back too.