The Seven Ages Of Debt

The Independent on Sunday has a powerful argument on the indebtedness of the average British citizen.

If and when Income Tax and National Insurance are merged ( National Insurance being a misnomer for another tax on employment)it may reveal to the 'man in the street' of the true take of the State from his wage packet. Insurance sounds prudent, it sounds responsible, but at the end of the day the reality is that all money raised by direct, indirect and by stealth taxes goes into a large central pot to be allocated out by central government.

There is no ring fencing, car tax and fuel tax is not spent on transport infrastructure. It would be more honest if it was, and the average citizen could vote allocation of resources.

Would the 'man in the street' have voted for bailing out reckless banks, and mortgaging his immediate future,his children's future and unborn grand children's future, it is very doubtful that that argument could have been made by central government.


The insolvent banking sector had access to Government enjoyed by virtually no other sector. Far from this being a nationalisation of banks, the banking sector has inversely appropriated national funds and guarantees from all of us. We had no say in the matter.


Yesterday British aircraft and submarines were expending a few more millions worth of munitions into Libya, the redtops have excitedly gone into 'gotcha mode' evertime some exciting shots of explosions become available. Money is always available for war and benefits.


The truism is that we all now work for the state, not ourselves or our families. That will lead to a poverty of expectation and dependency. Unless we change this, we will be heading in the same direction as Japan with a lost decade followed by stagnant growth.

The CIA see this debt data as significant as to worldwide stability. Look at the countries at the top of this list and look who is at the bottom.