Debt is 400% of GDP

dump the debt
Originally uploaded by Daveybot

Fraser Nelson is blogging that the UK’s total debt now exceeds 400%.

This is far higher than any other G7 country – do check the graph in his posting.

To make it even worse, most of it is short-term debt (second graph).

These figures are so enormous that I can’t even begin to comprehend what the consequences are going to be. An IMF bail-out?

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