It is Obvious

Chris Rick has got altogether too much to say

Blinker, Blindfold and Ear-plug sale today

Posted by chrisrick13 on July 13, 2015

It is obvious: it can’t happen to me

I’ve not been round for money in a while.  Get your cheque books out.  I’ll explain later.

On Sunday I saw the SNP deputy leader, Ian Hosie, being interviewed.  He was asked about the budget.  The budget plans for a £40bn surplus by the end of the parliament.  This means that the saving on spending, the more efficient tax gathering, the more onerous taxes and growth in the economy will enable us to begin to pay off our debts.  Carrying on like that will only take 20 years and we will have a debt that means we don’t have to pay twice for our NHS and if interest rates go up not only will the country not go bankrupt but we won’t have to pay 7 times for our NHS.  (I am trying to write fantasy novels but I cannot think up such extreme flights of fancy for my books.)

Mr Hosie has a very different view:  £40bn of savings is £40bn too much – money we could have spent.  The problem is that someone as dangerous and stupid as this is believed by a lot of people.

I find it amazing with the Greek economic problems being played out on the media that so few people can see that this is where the UK is heading at a high speed.  I could say ‘velocity’ which implies direction but we have no direction in our economic activities.

The Greeks have borrowed and spent.  They want to keep borrowing and spending and are puzzled that nobody will lend them money without some credible plan to pay it back.  It matters little that for any plan to work, Greece has to be gifted £360bn to pay those debts.  Imagine the UK asking for £1trn.

The UK is not that bothered by Greek problems.  Little trade and the chance of cheaper holidays.  Not many debts owed to UK banks.  There is a problem though.  The IMF is owed money by the Greeks and will be lending more if there is not a default on Greek debt.  The UK has money in the IMF.  Greece does owe us money so we only need to chip in about £600 each to let the Greeks continue to live in the way that they have become accustomed to.  Start saving though because I’ll be round for another cheque in a year or so.  I think I would rather spend the £600 on my holiday.

It is obvious: it can’t happen to me – today

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One Response to “Blinker, Blindfold and Ear-plug sale today”

  1. Will said

    You OK? The China stocks are down, down, down and no comment from our man in London…

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