Wednesday, 28 January 2009

Debt

Ironically, all the talk now is about debt - government debt to be precise, rather than the other, toxic sort we don't mention any more. The Institute for Fiscal Studies predicts (how dare they? they haven't usefully predicted much to date, have they?) that it will take thirty years, with higher taxes and lower spending, to service and repay the borrowing that our government (but it's not just ours) is planning to incur - and that's on some pretty dodgy assumptions, primarily that there's any national income to tax in the first place. If that's not toxic I don't know what is.

So, a simple question. Who is, or will be, doing the toxic government lending? It must be people (I use the word advisedly - it's not gerbils or trees or next door's cat, is it?) who have more money than they need for their own purposes (or those of whatever institutions they control). So who are they? Names and addresses please.

3 comments :

  1. I sure wish you were my financial advisor.

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  2. Well, I don't recommend it, as it's quite clear that I don't actually have a clue what's going on in those weird people's heads. But for what it's worth, my financial advice is to spend as much as you can manage on good food, wine, music, art, and amusing gadgets. If there's any left, you can always burn it for warmth.

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  3. Splendid idea. I shall order a lute immediately and an apple 24inch iMac. I think that's all my requirements met. Oh, and a Castagari accordion.

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