Check this out: here
Put simply – the average UK homeowner outrightly owned about one third of his/her home in 1997. The other two thirds were mortgaged by the owner or the government on their behalf. In 2010 the average UK homeowner will own nothing. His equity will be more than wiped out by Government debts and liabilities and their own excessive consumer borrowings.
The debts and liabilities the Government has taken on in our name in addition to the debts consumers have been encouraged to take on to allow Brown to keep taxing us stealthily, means the UK will be in negative equity by 2010. Each household in Britain will be left with average debts and liabilities of £145,000. More than the average value of a home by then. It will cost each household an average of £8,700 each year just to service the interest on this debt without paying down a single penny of it. These figures do not even include unfunded state pensions for all of us which make the true figure far worse.
Labour has vastly accelerated the poor financial management of recent Governments and is still in denial - blaming the credit crunch. It’s like blaming the mess you’ve created on a loan shark for not lending you any more money..
Make no mistake these are your debts. If you die before they are paid then your children and grandchildren will continue to pay them.
Gordon’s claims of successful and prudent economics is the biggest lie of our generation. He kept boasting about an economy growing consistently at around 3% year after year and how strong and resilient it was. What he didn’t say is that it was costing 8% of GDP in new debt each year. If you run a company, this is called ‘buying business’. It’s what amateurs and frauds do. They present a good topline to get the plaudits and bonuses whilst quietly wrecking the balance sheet. Unfortunately it will take at least two generations to repair the damage economically and socially.
In 2010 Total UK Debts and Liabilities as a percentage of GDP will hit 259% this is higher than at any time in history. The previous National Debt record of 250% was in 1947 after the country had been destroyed by the Second World War. Thanks Gordon.
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2 people have spoken:
Our one eyed twat can't, and won’t weasel his way out of anything.
He'll be booted from our consciences by 2010 (probably before) but will then slither away to become Sir Gordon of Raith or whereever, while the rest of us poor saps pay for his incompetence for many years to come.
Ah the joys of over the decade of Socialist government.
Why is anyone surprised? Socialists will do what socialists will do. They just cannot help it. There is no known cure.I really blame the Tories for being so pathetic and greedy as to render themselves unelectable,thus inflicting us with these treasonous vermin.
Urban11
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