The chart below is from the US Federal Reserve. The blue line is US borrowing and the red line is actual US GDP and the green line is blue added to red (nominal GDP)
Over the years there's been recessions and crashes but as you can see nothing quite like what we are seeing now. What this chart shows is that the US is now in a depression.
Britain has the same problems that the US has except Britain does not have the world's reserve currency.
Britain like the US is holding up GDP by borrowing and robbing its own population. You see that red line? It's not going to go back up. That red line is a real decline in the private economy which is not going to come back. The blue line will have to continue to increase to balance the budget. The red line means jobs to the real economy are being lost and the blue line means people who are losing income are going to have to take on more debt via the government meaning more taxes..
Why are things so bad? Drug dealers? Immigrants? Social security fraud? No. That's small change. The big costs are bank bail-outs, wars, money printing (quantative easing), trident and so on.
Come the election ask yourself which party will save the economy. Which party will stop involvement in wars, spending on nuclear weapons, stop bail-outs and money printing. For me the SNP come out on top as far as Scotland is concerned. Sure, we have to ask what they will do about banks post-independence but lets face it oil will be our big bail-out giving us a post-independence soft landing. As for the London parties? Both will plunge Britain into irreversible economic decline.
The political class in London is incapable of solving the ever deepening economic problems faced by Britain. With independence Scotland has a clear opportunity to emerge healthily.
The political class in London is incapable of solving the ever deepening economic problems faced by Britain. With independence Scotland has a clear opportunity to emerge healthily.
Scotland unlike Britain PLC is viable.
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9 comments:
Some icing The Crown DOES NOT own Scotland's seabed, says Treasury Committee. So why is all the revenue heading south..to the Treasury?
It's the only option as far as Scotland is concerned, although the discussion ensuing on my blog is about the EU. Do we exit first or go for independence first, depends on your emphasis.
We have much to resolve before independence. We need our education system completely rehashed for a start, then debate about the EU and all this legislation about PC and the nanny state needs a good thrashing too.
Oh what fun!
Well,
I agree with subrosa about one thing. We need our education system improved, for that is what I assume she means. Otherwise I have no idea what she is talking about.
What legislation is Politicaly Correct, I assume that is what PC means, and which bits of our rule of law constitute a nanny state?
I am an open minded nationalist. Perhaps subrosa would like to tell us all exactly what sort of nationalist she is?
@cyncialH,
Thanks for that. An interesting story to follow. It could well open up the oil debate..
@DarkL,
Not sure what you mean. I'll have a look at your blog entry.. As an independent nation we can leave the EU at will. Not sure we'll get democratic choice within Britian on the subject.
@subrosa,
Aye it's all a stramash. I think you're putting the cart before the horse there. I mean as an independent nation we can have a definitive debate about our future and social policies will find direction from that energy. The politics of unionism chokes these dialogues and reduce them to rubbish. These are the reasons independence is so attractive methinks.
@DouglasK,
If you want to be reassured about what kind of nationalist Rosie is you should visit her blog:
http://subrosa-blonde.blogspot.com/
It's easily the best political blog in the country. You'll find no shortage of passion and dedication there.
And like some other blogs you don't even have to agree with her!
I agree with Alex - independence first then we can have a real conversation without the constant girning: "you can't discuss that - it's not devolved".
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