Britain is the most indebted nation!

[Paul Mobbs]

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This should make George Osborne happy!  8-o

Updated report by McKinsey --
http://www.mckinsey.com/mgi/reports/freepass_pdfs/debt_and_deleveraging/debt_and_deleveraging_updated_analysis_report.pdf

Main doc --
http://www.mckinsey.com/mgi/reports/freepass_pdfs/debt_and_deleveraging/debt_and_deleveraging_full_report.pdf



Robert Peston's analysis provides the simplified digest:

http://www.bbc.co.uk/news/business-15820601
UK's debts 'biggest in the world'
BBC News, 21 November 2011

At the beginning of 2010, I highlighted a fascinating analysis by the 
consultants McKinsey called Debt and Deleveraging, which showed quite how 
indebted the economies of the developed west had become.

McKinsey said that the UK had by 2008 become the most indebted of all the big 
rich economies, more indebted even than debt-engulfed Japan.

{snip}

According to the consulting firm, by the end of March this year, the aggregate 
indebtedness of the UK - that's the sum of household debts, company debts, 
government debts and bank debts - had risen to 492% of GDP, or almost five 
times the value of everything we produce in a single year.

That compares with 481% at the end of 2008.

So the UK's total indebtedness has increased, and is still the biggest 
relative to GDP of any of the big economies. That said, Japanese indebtedness 
is pretty much the same size - at the end of 2010, as opposed to the end of 
March 2011, Mckinsey says Japan's debts were also 492% of GDP.

US indebtedness is less, at 282% of GDP by the middle of this year, down from 
296% in December 2008.

{snip}


:-(

P.

- -- 

.

"We are not for names, nor men, nor titles of Government,
nor are we for this party nor against the other but we are
for justice and mercy and truth and peace and true freedom,
that these may be exalted in our nation, and that goodness,
righteousness, meekness, temperance, peace and unity with
God, and with one another, that these things may abound."
(Edward Burrough, 1659 - from 'Quaker Faith and Practice')

Paul's book, "Energy Beyond Oil", is out now!
For details see http://www.fraw.org.uk/mei/ebo/

Read my 'essay' weblog, "Ecolonomics", at:
http://www.fraw.org.uk/mei/ecolonomics/

Paul Mobbs, Mobbs' Environmental Investigations
3 Grosvenor Road, Banbury OX16 5HN, England
tel./fax (+44/0)1295 261864
email - mobbsey at gn.apc.org
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public key - http://www.fraw.org.uk/mei/mobbsey-2011.asc

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