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Making the world smile, one muscle at a time

It really, really is us versus them now

by Marrick on January 29, 2013

Governments don’t really pay back debt. They just roll it over. Economic growth, can reduce the % of debt to GDP, making previous borrowings increasingly less significant. The UK has debt exceeding 100% of GDP in 81 of the last 170 years, there has never been a crunch time, when it suddenly all had to […]

Is the 25% cut in the deficit real?

by Marrick on October 24, 2012

One of the things that has been much trumpeted recently is the government##Q##s “success” in cutting net borrowing (the deficit) by 25%. I thought I##Q##d look into it. Here are the net borrowing figures for the last few years – just before the financial crisis and just after: 2007-08 £40.3bn 2008-09 £104.2bn 2009-10 £167.4bn 2010-11 […]

The recession: it could have been worse says ONS

by Marrick on May 25, 2012

Yesterday’s revelation by the Office for National Statistics that Britain was indeed back in recession, confirmed the announcement made earlier this month that growth had stalled and gone into reverse, but added the sting in the tail that things are worse than previously thought. It might seem that the jump from two tenths of a […]