Give or take a few quid was the national debt about a trillion and was the budget deficit a hundred billion plus (not including all the off the book PFI) at the begining of 2010 or not?
Did the eurozone (one of our biggest trading partners with whom we were relying on trading with to grow our way out of debt) subsequently go and has pretty much remained ever since, into a state that can be summarized by the phrase "tits up"?
Had the great British public (ie the people governments ultimately need to go out spending) not already dined out on credit and were themselves in debt to the tune of over a £trillion also by 2010?
Whoever went mad, whoever lent, spent, wasted, invested, gambled or whatevered isn't so much the point. The above, if not a description of bankrupcy itself is about as close as you can get to calling it such without "splitting hairs" and that's got sod all to do with being tory, far right ( which I get the impression you're slowly starting to imply as one and the same thing) or whatever. It's an observational fact is it not?
That's not scrutiny so much as more rhetoric Rusty. We are in charge of our own currency, albeit issued by banks, and as another post I just made demonstrates:
Anyone who doesn’t understand this system need only refer to the rules of the popular board game ‘Monopoly’:
“The Bank never goes broke. If the Bank runs out of money, the Banker may issue as much as needed by writing on any ordinary paper.”
As my post you responded to, but edited (again), showed, banks created the debt we all now have to live with, both government debt (bail outs and fall out) and private debt. It is also for their benefit that house prices are propped up. The last thing they need is falling asset prices on their books.
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That's not scrutiny so much as more rhetoric Rusty. We are in charge of our own currency, albeit issued by banks, and as another post I just made demonstrates:
Anyone who doesn’t understand this system need only refer to the rules of the popular board game ‘Monopoly’:
“The Bank never goes broke. If the Bank runs out of money, the Banker may issue as much as needed by writing on any ordinary paper.”
As my post you responded to, but edited (again), showed, banks created the debt we all now have to live with, both government debt (bail outs and fall out) and private debt. It is also for their benefit that house prices are propped up. The last thing they need is falling asset prices on their books.
A lot of bankers live in Canary Wharf, which is East London.
Some get £1m plus.
http://www.thetimes.co.uk/tto/business/industries/banking/article3708711.ece