Can this be true? That the British economy is going to collapse under the wieght of a moutain of bad debt?

See the book 'Fantasy Island': the incredible legacy of the Blair years.
http://www.amazon.co.uk/fantasy-island-l...

Answer:
I do think that the government are not in the real world. I think we will collapse under the debt. Interest rates going up, pushing people into further deby in order to stop spending. It is interest resulting in the debt, not people's spending habits. People losing their jobs, ie hospital wards being closed and jobs going, student getting into thousands of pounds of debt (Im one of them), tax being put on tax (foods) that we already pay VAT on . I think we are slowly heading for another recession. People are getting into debt...It's about time the government came to reality. If I lost my job due to the closure of my work (I work in the NHS) I will expect the government to pay it as they would have contributed to me being unable to pay. Arrogant it may be, but arn't politicians? Blairism, Brownism, Im not sure what to call it. Send in the bailiffs to take my...university qualifications? I have nothing to take.
go back too 1980's Tory's (shop keeps economy)
Remember that every debt is someone elses asset.
The so called Blair/Brown economic miracle was based on debt. This smoke and mirrors approach seemed to have most people fooled. A policy of low interest rates, endless amounts of Far Eastern money to borrow, pushing up house prices, every one feels rich, borrow borrow, spend spend. That's the way to do it.

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