Wednesday, November 26, 2008

A trillion here, a trillion there....

.. and pretty soon you're talking real money.
I've mentioned before that even a billion is hard to grasp in terms of how big a number it is, and a few thoughts came to me.( Note: I originally mistyped Number as "Bummer". Freudian slip - but unfortunately too true)
If every GBP was 1 second of time, then 1 billion would be 31 years or so.So 1 trillion would be represented by more than 31,000 years
There are about 31,500,000 seconds in a year. So for every second in the next 365 days, this government will be borrowing an extra GBP3809. Every man woman and child in the country will have GBP 2000 borrowed for them by the government.
Just in the next year.
The thought does spring to mind - what are they doing with all this cash? I know we have the budget figures to tell us, but I can guarantee you that my family at least is not having GBP10,000 spent on it, nor anyone else I know. We're definitely not getting it in our hands.
I've been castigated before for saying the answer is saving not borrowing and spending. I'm more sure than ever that this is right.
I believe the UK is staring into the abyss, quite literally, if it pursues these policies, and will take years and years to recover - if it ever does.
At least I have a goat or two and some sheep.

3 comments:

Whispering Walls said...

Who's going to buy this Govt debt?

kinglear said...

ww - I actually have no idea, and I don't think they do either...

Whispering Walls said...

They'll have to raise rates to make it attractive...