September 11, 2009
The BBC website has a 7 slide show relating to the costs of the bailout worldwide. If you are either:
a) interested in finance
b) wondering what the real cost of the bailouts are
c) from the UK
be sure to spend 30 seconds of your day taking a look. See the slides here.
For months, the British public have had to listen to Prime Minister Brown and Chancellor Darling on the news explaining how ‘robust’ the UK economy is and how ‘well placed’ it was to handle the credit crunch.
Personally, I don’t believe a word of it, but if you do, then you can at least now have the pleasure of realising that the UK economy is heading for something akin to collapse. Any government taking on borrowing like this is either heading for default on it’s public sector borrowing or crippling inflation. Or perhaps both.
Yes I know that my recent posts have been bringers of doom and gloom and I apologise for that. But, if you happen to have read much at all about finance or economics, it is difficult not to be able to see the writing on the wall.
It would seem that this is a signal to start pulling your money out of the UK. I know, I know, that makes the situation worse rather than better. But what else is a rational person to do?financialguy