Further to my recent blogging the truth seems to be leaking out a bit more each day. Childrens/Schools Minsister Ed Balls today declared “The reality is that this is becoming the most serious global recession for, I’m sure, over 100 years, as it will turn out.”
I’ve been saying that for a while now. We are not really being given the full picture. Partly I suspect because it is difficult to explain and partly because it would be too much to take all at once for most.
Either way we have been given a potential £600bn bill by our banks. It is not wild speculation that this burden is simply too large for us to pay off.
In the 60 years since WWII our total National Debt is £300bn. Not much considering the cost of all the infrastructure in rebuilding the country. In other words we’ve overspent by £5bn each year on average. You can’t just add £600bn in one year, taxes would have to rise and public expenditure would have to fall by such an extent there would simply be no chance of going forward in life.
You, your children will basically be no more than tax slaves, living and dieing for generations to pay for the bonuses of just a few thousand. If this doesn’t start a revolution, then we deserve nothing less than this servitude.
http://www.independent.co.uk/news/uk/politics/this-is-the-worst-recession-for-over-100-years-1605367.html
