The Times front page makes grim reading
http://business.timesonline.co.uk/tol/business/economics/article4860551.ece
4 day week at Ford, manufacturing output through the floor, warnings about power blackouts this winter, coal back in fashion (albeit 'clean' coal to salve the enviro-loons), Russia flexing its muscles, a ridicuously inexperienced Carter-esque President about to take power in the US..... back to the 70s indeed.
Oh well, at least we aren't bust like in 1976 going cap in hand to the IMF (well not quite yet), and that nice Mr Gay Gordo assure us he has paid the national debt down - honest guv..........
Net Debt £545bn
Northern Rock £87bn (save the geordie jobs for our friends in the north)
B&B £40bn (not even Santander would touch it)
Public Sector Pensions £1,000bn (poor old hard done to work shy public sector)
Future PFI payments £110bn - (even Enron would cringe at this off-balance sheet trick)
Grand Total £1,782bn
or £67,327 per household in the UK oooops. And the US Congress got shitty about a mere $700bn of bail-out ($5,000 per household)!
No comments:
Post a Comment