Another AAA ratings downgrade for the UK

[EDWOOD 10]

The following link, although it is in the end trying to sell you their product, does explain how bad a shape the UK is in when you take into account all the debts - public, private, off-the shelf costs like PFI and unfunded future liabilities.

 

http://www.moneyweek.com/endofbritain

 

Basically the UK economy is not strong enough to support the ever-growing living standards we have expected since 1945. We had a few booms like North Sea Oil which helped but what else is there out there that could really make a dint in the deficit? Shale gas?

 

The problem now is that we are competing with China that only really started its economic boom in 1978. India started to get its act together after 1990. Other countries are catching up. We are either standing still or going backwards.

 

The UK is no longer a rich country.

[Tradescanthia 10]

A good thread with some excellent posts.

No arguing that cuts are needed............its just that its the most vulnerable are being targeted by the Torys. "The broadest shoulders should carry the heaviest load", a quote by someone anon. but still relevant today.