Makes Money Seem Worthless
Reading the news today regarding the UK economy, of course the recession and the Governments debt, it really makes money seem worthless.
A headline today stating the UK deficit is lower than previously thought, that the country has had to borrow less, therefore their debt not being as bad, as previously thought. Well obviously that is good news. But the sort of amounts they are talking about just throw all that good news out the window really.
They say that today most households in the UK have a family debt of at least £25,000. A lot of money, an amount that isn’t going to be too easy to pay off and take a bit of time.
The United Kingdom have borrowed £156 billion, in one year! The news story begins with the good news that this is less then they originally thought it would be. Originally that estimated it would actually be £163.4 billion! Wow, what a saving. Do you think then on that saving we could maybe have a few reductions in what we have to pay then? No chance, it only goes up.
But really my point is that those sort of amounts, a loan for one year of £156 billion, and then in April the country only borrowed £10 billion, a news article informing the country of this wonderful financial progress and achievement, it really makes money seem and sound just worthless. There really is no surprise that the people of the UK are in so much debt personally.
Personally it does make me feel better about any personal debt I might owe, I don’t feel so concerned about it or worried. But really that is the problem, it makes people just see money as easy, easy to spend, easy to borrow. And therefore it is just worthless. But really how long can this continue for? How much debt can the UK get into before money actually is completely worthless?
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