@churchofthepoisonmind
anyone who does not support wholesale investment in the services we need can stop pretending they care
*@rrhuth* - here is an economics lesson for you. The current UK gross debt stands at 106 per cent of gross GDP (annual government revenues, essentially). And yes, this is as bad as it sounds. To give some context, in 2009, in the wake of the 2008 bank bailout, this figure was 63 per cent.
This debt is at this level because of lockdowns. It will increase more with further lockdowns. It will also increase more as more small businesses go to the wall due to WFH policies etc.
Who pays for all this? The fucking money fairies?
Without LDs the economy would have still tanked, who goes to the shops or work when there is a virus around that kills off 100s of 1000s of people, regardless of their age?
Instead of Furlough, we would have paid out in mass unemployment, banking collapses & supporting strategic industries.
The BOE has bought almost 900 billion of Bonds/Gilts, these are long term 33 to 55 years.
Other people have bought these too, the whole world owes money, even China, around 67% of GDP - $7 trillion.
Its a merry go round, so if we all owe money, who do we all owe it too?
I wouldn't worry about it, so long as there is still confidence in the UK!