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At £4.8 Trillion In Total Debt Including Unfunded Liabilities, UK Debt Is Six Times More Than The Official Number

Tyler Durden's picture





 

Everyone knows that the total US debt is over $120 trillion when accounting for such underfunded liabilities as Medicare and Social Security. Well, it appears that the bankrupt US welfare state is not alone. According to the UK's Institute of Economic Affairs (IEA), the country's national debt is £4.8 trillion once state and public sector pension liabilities are included, or £78,000 for every person in the UK. This number translates to about 330% of UK's GDP. Which of course is nothing compared to the total US adjusted debt-to-GDP number which when accounting for all off balance sheet items is roughly 10x the US GDP of $13.6 trillion, a number which is Rosenberg and Bridgewater are correct, may decline quite soon.

The Telegraph has more:

The IEA raised its concerns after the latest public finances data from the Office for National Statistics (ONS) this week, which showed that the total debt, excluding bank bail-outs, is £816bn – itself a record high. However, the figures strip out the state's pension liabilities in a contravention of standard accounting practices.

Mark Littlewood, the IEA's director-general, said: "The latest official national debt figure is seriously misleading. Looming in the background are pension liabilities. These should be moved to the forefront.

"The ONS should include these liabilities in their calculations. It is shocking enough to see official figures revealing a jump in national debt over the last year from the equivalent of 48pc of GDP to 56pc, but the grave reality is that our real national debt stands at 333pc of GDP."

Nick Silver, an IEA research fellow, said the full figure, including the £1.2 trillion public sector pension liability and £2.7 trillion state pension liability, should be published either monthly or annually alongside the net debt data for reasons of transparency.

The ONS has already begun to assemble the data, publishing the full list of Britain's debts and liabilities for the first time in July, which came to a total of between £3.68 trillion and £4.84 trillion.

The ONS numbers included a £1 trillion to £1.5 trillion liability for the Government's stakes in the part-nationalised banks, equivalent to the relevant portion of their total liabilities, £1.35 trillion for state pension liabilities, and £1.2 trillion for public sector pensions.

At this point these statistics are just that- there is no hope any of these will ever be paid down. And with government spending soon to focus ever more on such things as paying down interest, instead of investing in what could truly push the economy to a new level such as R&D spending and incubating basic research at scholar centers, the world will continue to dig itself into an ever greater Ponzi hole until the massive debt load is no longer sustainable.

 


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Sun, 08/22/2010 - 18:47 | Link to Comment trav7777
trav7777's picture

Unfunded, bitchez

Sun, 08/22/2010 - 19:09 | Link to Comment russki standart
russki standart's picture

Brits are a bunch of focking wankers...

Sun, 08/22/2010 - 19:14 | Link to Comment whatsinaname
whatsinaname's picture

Maybe because they have been buying spades of US debt ?

Sun, 08/22/2010 - 22:52 | Link to Comment Mitchman
Mitchman's picture

Yes.  And at a yield of 50 basis points they'll make up that shortfall in no time at all! :-)

Sun, 08/22/2010 - 23:34 | Link to Comment Votewithabullet
Votewithabullet's picture

 Sun tzu @dabidC. If your enemy is angry... stick your finger in his butt.

Sun, 08/22/2010 - 19:26 | Link to Comment DavidC
DavidC's picture

That really is not funny any more.

DavidC

Sun, 08/22/2010 - 20:21 | Link to Comment PlausibleDenial
PlausibleDenial's picture

DavidC,

You may want to consider ending your stop the "bitchez" campaign.  It only perpetuates the use of it.  More importantly, I have just added it to my lexicon with great success in an effort to communicate with the massess.  And, oh, my girlfriend likes it when I utter "gold bitchez".  Apparently she is thinking something to dangle while I am thinking of what may really dangle. 

Bullets bitchezzz

 

Sun, 08/22/2010 - 20:55 | Link to Comment New_Meat
New_Meat's picture

besides-Trav is incurable lol - Ned

Sun, 08/22/2010 - 21:43 | Link to Comment Double down
Double down's picture

While you are at it, front run this one as well: "beatchez".  The nuance is somewhat undefined, though I am inclined to see virtue in its expression.

Sun, 08/22/2010 - 22:34 | Link to Comment Hulk
Hulk's picture

Bitches bitchez!

Mon, 08/23/2010 - 05:32 | Link to Comment nmewn
nmewn's picture

David is one of my favorite bitchez.

Sun, 08/22/2010 - 18:47 | Link to Comment cossack55
cossack55's picture

All my cards are coming up spades.  This is not sustainable.

Sun, 08/22/2010 - 19:20 | Link to Comment Implicit simplicit
Implicit simplicit's picture

Jacks , Queens and Aces, their faces in debt

 the people and goverment made a bad bet.

Sun, 08/22/2010 - 20:57 | Link to Comment New_Meat
New_Meat's picture

cossack:

"All my cards are coming up spades.  This is not sustainable."

unexpectedly so, n'est ce pas?

- Ned

 

Sun, 08/22/2010 - 18:55 | Link to Comment VonHavenstein
VonHavenstein's picture

The UK or Japan which of these old island empires will sink first?

Sun, 08/22/2010 - 19:50 | Link to Comment Monkey Craig
Monkey Craig's picture

I've often wondered the same thing. There is a race to debase and I don't see how you win that game....the last one standing has toilet paper for currency.

The world needs some new growth platform. Maybe it is commodities, oil wells and fertilizer. Maybe it is biotech or maybe weapons manufacturers.

Sun, 08/22/2010 - 21:00 | Link to Comment New_Meat
New_Meat's picture

Monkey- yes.  "race to debase".  That is why I'm thinking that USD will be the last currency standing-we'd suck less than the others.

But O says that growth is so last-century; your thesis is screwed until 2013 or so (but I agree with it, coming out of WWII, why the formula was-"GROWTH".

- Ned

Sun, 08/22/2010 - 22:19 | Link to Comment zaknick
zaknick's picture

How about a return to normal, decent capitalism where countries produce most of what they consume? This whole globalization schtick is a fascist scam. Jobs would boom.

Sun, 08/22/2010 - 19:59 | Link to Comment SoCalBusted
Sun, 08/22/2010 - 21:01 | Link to Comment New_Meat
New_Meat's picture

"... well, we really don't expect that."

Admirals are not paid to put up with that BS. don'tcha know.

- Ned

Sun, 08/22/2010 - 18:55 | Link to Comment MrSteve
MrSteve's picture

The concluding phrase, "until the massive debt load is no longer sustainable" reminds me of setting off fireworks when we were kids: sometimes you get a cherry bomb or M-80 with a "fast fuse" and you had only instant reaction time to turn your face and fingers away from the 1/2 meter flash sphere. Debt sustainability seems to be very likely a problem subject to fast fuse surprises. 

Americans can always take pride in being number ONE, trouncing John Bull by a superior factor of 33 in excess spending.

Sun, 08/22/2010 - 19:36 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Are you still in possession of all 10 fingers or did the 1/2 meter flash sphere claim a digit or two?

Sun, 08/22/2010 - 19:00 | Link to Comment Eally Ucked
Eally Ucked's picture

For now it's unfunded liability but starting right about now it will morph into permanent and rising deficit for the next 20 years for all western countries.

Sun, 08/22/2010 - 19:16 | Link to Comment Implicit simplicit
Implicit simplicit's picture

Its gonna be a long cold winter until 2020

Sun, 08/22/2010 - 19:02 | Link to Comment Hang The Fed
Hang The Fed's picture

"Until" it's unsustainable?  You mean that it's not already?

Sun, 08/22/2010 - 19:15 | Link to Comment Dismal Scientist
Dismal Scientist's picture

Once you bring in unfunded liabilities for the public sector, every major global economy is terminally bankrupt. This is well known. Continuing the Ponzi is the dumbest idea ever, but they're still doing it. Everyone's favourite economist, Ludwig von Mises, said it best:

“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency involved.”

See you in hell, bitchez

Sun, 08/22/2010 - 19:25 | Link to Comment Implicit simplicit
Implicit simplicit's picture

True that. Try and enjoy the ride.

Sun, 08/22/2010 - 22:16 | Link to Comment zaknick
zaknick's picture

Phil Collins, is that you?

Sun, 08/22/2010 - 23:06 | Link to Comment Frank Owen
Frank Owen's picture

It's Holly from Red Dwarf, smeg-head.

Mon, 08/23/2010 - 04:46 | Link to Comment Dismal Scientist
Dismal Scientist's picture

+100. glad someone's awake

Mon, 08/23/2010 - 01:36 | Link to Comment longontents
longontents's picture

True say.

Sun, 08/22/2010 - 19:15 | Link to Comment A Man without Q...
A Man without Qualities's picture

One of the unintented consequences of QE is that by buying Gilts and therefore capping yields, it actually increases the deficit substantially, by making the present value of these unfunded deficits far higher.  So, this is a perfect example of a policy which may makes things better on an accrual basis (central authorities prefer to think from year to year) and also looks ok from an "official debt" basis, but we know the deficits are like an iceberg, with 90% hidden under the surface through non-funded obligations.  These costs have been out of sight and out of mind for decades, but now we know that soon a mark to market problem will become a cash flow problem as the population aging increases the burden on the workers.

 

Sun, 08/22/2010 - 19:59 | Link to Comment Slipmeanother
Slipmeanother's picture

One has to look slightly incredulous at the term "Gilts" must be the dry sense of British humor

Sun, 08/22/2010 - 21:03 | Link to Comment New_Meat
New_Meat's picture

lol-at least now-aday's

Sun, 08/22/2010 - 19:20 | Link to Comment midtowng
midtowng's picture

The UK doesn't have a reserve currency, so I don't know why they still have a AAA rating and a relatively strong currency and low interest rates. The British Empire is long since over. Currency and bond traders seem to have overlooked that fact.

Sun, 08/22/2010 - 19:27 | Link to Comment Dismal Scientist
Dismal Scientist's picture

Sterling already experienced a devaluation in 2008 against all other majors. Recovery now in the short term is a function of austerity attempts and higher inflation than other countries leading to rising forward rate expectations. The Euro had its move this year in the same way, but lacks the rising inflation to help on relative forward rate expectations. USD turn comes next. Unless its Sterling's turn again. They're all worthless anyway.

Sun, 08/22/2010 - 20:30 | Link to Comment midtowng
midtowng's picture

The dollar will be the last fiat currency standing..at least until another monetary system arises. The Pound will fall, and when it does it will signal the start of the end.

Sun, 08/22/2010 - 19:33 | Link to Comment sunny
sunny's picture

Good point.  Makes me wonder.  Given this observation and the fact that the US situation is worse, yet both countries enjoy AAA rating proves that our current rating agencies are useless...or worse.  Are there any rating agencies anywhere that deliver honest ratings of government bonds?

Just curious.

sunny

Sun, 08/22/2010 - 19:50 | Link to Comment nmewn
nmewn's picture

With the passage of Dodd's fin reg, most well known rating agencies issued a "do not listen to us" disclaimer to escape clauses within the new law. Again, our best and brightest at work for us.

Fitch is probably the best of the breed. But when sniffing different dog piles it hardly matters which dog wags his tail ;-)

Sun, 08/22/2010 - 21:07 | Link to Comment New_Meat
New_Meat's picture

nmewn-come on-Fwank had skin (shudder) in that game-the Fwank-Dodd bill or FWOD bill.

Been finishing up on Mike Lewis "Big Short" book.  A whole part of the mess was S&P, Moodies, and Fitch, well they cycle paper through Fannie (Fwank's favorite) and Freddie and voila AAA rating.

eeewww-

- Ned

Sun, 08/22/2010 - 21:25 | Link to Comment Implicit simplicit
Implicit simplicit's picture

Great book. Did you see how the ratings agencies didn't use income for rating the worthiness of people trying to get mortgages, they just used data regarding  late or missed debt payments.

 So, if you were making$1000/mo you could qualify for a 200,000 mortgage if you hadn't been late on your credit card and other debt paymnets.

The credit agencies were patsies for gladman sucks and the other vultures. They gave them what they wanted because the ganster banksters hired them for other work.

Its just like the political con-bribe-utions, the impotent SEC, and the rest of the Ponzierosta

Mon, 08/23/2010 - 05:56 | Link to Comment nmewn
nmewn's picture

"nmewn-come on-Fwank had skin (shudder) in that game-the Fwank-Dodd bill"

Spewing coffee...thanks...LOL.

Fwank is a blubbering idiot who rapes the rich & poor alike. He is an equal opportunity offender who seems to delight in ruining poor peoples credit once and for all while calling for higher taxes to be imposed on those left standing. He-is-a-menace-to-society-at-large.

Dodd add's amendments to payout bonuses to AIG in the "shovel ready stimulus bill'' and then starts screeching about executive pay until someone points out his name on the amendment, then says oh never mind as his ole lady collects a check from a subsidary of AIG offshore.

It's incestuous Ned...it really is.

Sun, 08/22/2010 - 20:06 | Link to Comment Bow Tie
Bow Tie's picture

that chinese agency did a fairer assessment, gave both the US and UK AA- with a 'negative' outlook...

Sun, 08/22/2010 - 19:39 | Link to Comment breezer1
breezer1's picture

rating agency , AAA is a political rating.

Mon, 08/23/2010 - 05:58 | Link to Comment delbutler
delbutler's picture

What do you mean we don't have a reserve currency ? Britain can print it's own money, just as the US can do via the Fed. We don't rely on the ECB like the rest of Europe. However, the fact that anyone can print their own cash still isn't going to save them from the currently fast approaching shitstorm, that is only slightly delayed by the fact that the US and UK can print their own loot.

Sun, 08/22/2010 - 19:34 | Link to Comment nmewn
nmewn's picture

Alternate headline;

Women & Children Hit Hardest As Equity Markets Crash

What are you standing around for Murphy?...we've got papers to peddle...get busy on that!

Sun, 08/22/2010 - 19:49 | Link to Comment Implicit simplicit
Implicit simplicit's picture

I guess the newspaper industry has been dying a slow death. The Washinton Post had been shored up by its online Kaplan schools division. However, that is about to change:

"Bets against shares of Washington Post Co. have increased to the highest level since at least 1991, as the federal government considers rules that could reduce revenue at its Kaplan education unit." (Bloomberg)

 

 

Sun, 08/22/2010 - 20:36 | Link to Comment nmewn
nmewn's picture

Yeah, I saw where they sold off Newsweek as well. I wonder if "a sort of god" will come down and save Evan Thomas' bacon at the helm ;-)

Crowded...but still a good short in my view, as long as taxpayer subsidy for drivel doesn't kick in.

I've got the NYT on my radar...I want to have a hand in grinding them into dust. Only in America...LOL.

Sun, 08/22/2010 - 21:08 | Link to Comment Implicit simplicit
Implicit simplicit's picture

The future alternate headlines will be blue toothed from the IPad boys device to the customers and a paypal account will be deducted accordingly.

The online schools might be in for another leg down also.

 

Sun, 08/22/2010 - 21:09 | Link to Comment New_Meat
New_Meat's picture

only went for a buck

Sun, 08/22/2010 - 21:43 | Link to Comment QQQBall
QQQBall's picture

The have recovering addicts and alchoholics standing in traffic at most signalized intersections selling papers as a means of recovery...

 

all I ever think is why would I PAY for yesterday's news?

Sun, 08/22/2010 - 19:52 | Link to Comment Übermensch
Übermensch's picture

Just press the delete key.

Sun, 08/22/2010 - 20:17 | Link to Comment mikla
mikla's picture

No problem, looks like a nice soft landing.

Sun, 08/22/2010 - 19:54 | Link to Comment Alchemist
Alchemist's picture

Unfunded liability of Social Security and Medicare is $49trn not $120

Sun, 08/22/2010 - 21:23 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

No one said that. The very first sentence said total debit when accounting for SS and Medicare was $120 Trillion. Here, let me help.

Everyone knows that the total US debt is over $120 trillion when accounting for such underfunded liabilities as Medicare and Social Security.

Sun, 08/22/2010 - 22:17 | Link to Comment defender
defender's picture

.

Sun, 08/22/2010 - 19:56 | Link to Comment Eally Ucked
Eally Ucked's picture

You want to change something - change is coming:

http://www.reuters.com/article/idUSTRE67L19A20100822

Ha!Ha!

Sun, 08/22/2010 - 20:00 | Link to Comment jtmo3
jtmo3's picture

Again, SO WHAT! It appears most developed countries are in the same boat and the other countries need the developed countries to buy their shit, so it's a stalemate. No one is calling anyone on this. Most continue to print even though they deny it. It's a race to inflate any way they can and again, no one is calling them/us on it. China is not calling the us or europe because they need us to buy their crap and they own way to much of our debt and if they called us, their debt would instantly become worthless. Again, this is a standoff. Print to your hearts content just enough to stave off deflation and it's ok. This is nutso land we wandered into.

Sun, 08/22/2010 - 20:11 | Link to Comment Eally Ucked
Eally Ucked's picture

What a drivel! They want us to buy things with money borrowed from them! For sure they will keep that policy intact for long, try it with your bank man!

Sun, 08/22/2010 - 20:19 | Link to Comment TwoShortPlanks
TwoShortPlanks's picture

We it's pretty clear - at least to me in any case- that 'Unfunded Libilities', although important to factor-in with regard to total debt (so that the rest of the world may know the uncooked-truth and avoid buying even more debt), that these liabilities will not be paid-out. They may well be paid initially, but there will be a turning point at which the entire 'Welfare Model', must be eliminated in favor of essential services only. So unfunded liabilities are a little tongue and cheek in the medium to long term picture.

Just keep building those highways, motorways and freeways, so that the ultra-rich enjoy unobstructed Autobahn-style travel in the not-too-distant future.

Sun, 08/22/2010 - 20:23 | Link to Comment Rotwang
Rotwang's picture

When the snow melt came in the spring, we would build snow dams on the street.

Racing against the melt rate and the upper edges, and always topping the crown.

 

The objective was to break the dam, and send the slug of melt-water down the street. What a sight.

 

Why do I feel like the current economic environment looks familiar to this?

 

Sun, 08/22/2010 - 20:36 | Link to Comment phat ho
phat ho's picture

Ho's bitches...

Sun, 08/22/2010 - 22:42 | Link to Comment NoVolumeMeltup
NoVolumeMeltup's picture

No, you don't want the British ones. Srsly.

Sun, 08/22/2010 - 20:47 | Link to Comment phat ho
phat ho's picture

You know when they contemplate razing brand new never lived in before housing to boost new home construction the world we live in is in a buttload of trouble. Economy also reminds me of cars I've driven into the ground. Apparently there is still room to freefall in before the bottom is reached. That's what I thought about my cars too. No 'one' expects, The Spanish Inquisition...

Sun, 08/22/2010 - 20:53 | Link to Comment shc
shc's picture

I'm only new at this sort of stuff, but can someone tell me who exactly are these countries in debt to? So US total debt is $120 trillion, ok, to who is that payable? Where did they borrow $120 trillion? Who do they have to pay it back to? 

 

As I said, sorry for my lack of understanding! :)

Sun, 08/22/2010 - 21:06 | Link to Comment Rotwang
Rotwang's picture

Someone signed up for the hamster wheel. You either signed yourself up, or someone signed you up (national debt).

There is really no debt, just an obligation to perform.

Sun, 08/22/2010 - 21:37 | Link to Comment Implicit simplicit
Implicit simplicit's picture

Consideration to perform, obligation to default.

Sun, 08/22/2010 - 21:42 | Link to Comment Rotwang
Rotwang's picture

Like that!

Since there was no consideration given.

Sun, 08/22/2010 - 22:29 | Link to Comment UncleFester
UncleFester's picture

If you look at the numbers you will find two common themes represented on every western nation's balance sheet.  2 out of the top 5 creditors are China and the respective nation's CB (if their slave labor.  The CB factor is not widely publicized.

As for the US, there is a famous quote that I can't remember, but went something like this:  "10 people control the country and that's probably a high number".  Bet you one buffalo those 10 sit on the board at the Fed.

Don't you find it funny...amongst all the talk about international debt and deficits there is no mention of to whom all these western countries owe?  It is simple really...balance the equations, balance the (inter)national books, report the net debtors and net creditors.  Will never happen in the mainstream IMO.

Sun, 08/22/2010 - 20:59 | Link to Comment zen0
zen0's picture
by Implicit simplicit
on Sun, 08/22/2010 - 16:16
#536552


Its gonna be a long cold winter until 2020

 

2053, according to the timelines rendered in the internal structure of the Great Pyramid of Cheops.

Sun, 08/22/2010 - 22:20 | Link to Comment defender
defender's picture

sources?  you have me curious

Sun, 08/22/2010 - 22:51 | Link to Comment bigfootmm
bigfootmm's picture

You have to wonder if the US gov't will revalue gold to say, $10,000 an ounce which would soon enough trigger another dotcom kind of boon to tax receipts. A guy with a cost basis of $500 would have a $9500 gain per ounce and a maximum tax bite for the year of sale. Everyone would be so happy.

Sun, 08/22/2010 - 23:04 | Link to Comment Client 9
Client 9's picture

Actually, the top US creditor is....wait for it....the US public.

China is just the biggest foreign creditor.

Mon, 08/23/2010 - 00:56 | Link to Comment PeaBird
PeaBird's picture

And along with the "Households" category, the UK are the other category of investors that have increased their US Treasury bond holdings by more than double since Sept 2009 through to June 2010?

From US$124.8 billion to US$362.2 billion?

Where did they get the net cash flow for US$237.4 billion in USTbond purchases in 9 months? They aren't exactly running a surplus and their entire society is up to its eyeballs in debt...

Mon, 08/23/2010 - 03:44 | Link to Comment MichaelG
MichaelG's picture

It might be China after all? - this is quoted in a 2009 FT Alphaville article:

the official TICS data underestimates China’s holdings, partly because China purchases debt through intermediaries – most notably through brokers in London. These do not show up in the TICS data under China’s name, but are instead classified under the UK. This ‘error’ in the monthly survey is made clear in the annual survey, which usually ends up reallocating most of the UK purchases during the previous year to China.

http://ftalphaville.ft.com/blog/2009/08/20/67846/chinas-treasury-confide...

Circle jerk, bitchez! (Sorry, DavidC...)

Mon, 08/23/2010 - 04:55 | Link to Comment Dismal Scientist
Dismal Scientist's picture

They printed it. We can do that too you know, Merv and the boys at the B of E are no slouches when it comes to turning the tap on. Got a nice profit by now as well.

Mon, 08/23/2010 - 03:59 | Link to Comment Tic tock
Tic tock's picture

And yet, monday morning, the markets are up - that's hyperinflation.

Mon, 08/23/2010 - 06:45 | Link to Comment Goldenballs
Goldenballs's picture

The "Free Markets" are up.I wonder how many private investors there are who could sell and really tank the market,with huge amounts of QE money,managed funds,hedge funds and pension funds I think we only see the fun when these institutions have to sell as they have no liquidity left and refuse to be political brought off pawns.The markets refuse to follow common human logic which shows they are under institutional control,the only markets left which appear to reflect the writing on the wall,public fear and rational thinking are physical Silver and Gold which refuse to really drop.No matter how many false dawns the economy and stock markets have they refuse to rise in confidence.The really interesting charts would be how much demand for physical Gold and Silver has increased for average people,which countries have the highest demand or even premiums (are under asset pressure ),where in the developed world the highest private ownership is,how much physical Gold and Silver exists per head of population and finally a "cash under the bed index".To Governments,etc, these would be shit scary graphs and indexes,bring the estimates on ...............................

Mon, 08/23/2010 - 07:25 | Link to Comment 37FullHedge
37FullHedge's picture

The UK government has 3 options.

1 The best option is growth of real wealth creation and manufacturing, The globalist elite who buy ond own the UK government wont consider such an option hence 0% probability.

Option 2 is being implimented now which is default by stealth via inflation raising the state pension to levels many or most people will never live to recieve the benifits and the end of the welfare state and the puplic NHS service,

This option now being done has a 75% probability of working and happening over the next 10 to 20 years,

Option 3 Extend and pretend This option ignoring the math and keep printing money via QE leading to a total loss of confidence of GBP and leading to hyperinflation a 25% possibility.

In my view option two will happen in full and may work,

 

 

 

Mon, 08/23/2010 - 07:52 | Link to Comment BigDuke6
BigDuke6's picture

Great - a measily total of 60 comments for this uk thread and half are 'bitchez' lines by some eminem wannabe.

that's what you get for joining the dumbass 'war on terror' with yer yank buddies.

c'mon lets here it for the brits - they're up to their eyeballs in it and more - their socialist government imported every jihadi crackpot west of mecca and now pay them to breed.

 

you couldn't make it up. 

Mon, 08/23/2010 - 08:33 | Link to Comment Goldenballs
Goldenballs's picture

Nice comment.Truth is the UK isn,t working economically,literally,socially and morally.We get all the official talk about how harmonious it is but this all comes from people who are paid for it or have a political slant.If you landed by UFO and watched the news for example you would see so few white European news presenters you would feel it came direct from the United Nations."British" has now become the term for all people to get around wether you are ethnically English,Scottish,Welsh or Irish,official forms never have this option.Individuals get on but communities don,t,most large cities have immigrant ghetto,s where the local population have left if they can afford to,the term here is "white flight".Our Employment situation is becoming horrific with further problems of Eastern Europeans working for nothing courtesy of the EEC.Most rules and regulations are there to protect incomers at the expense of denying the indigenous population any say or rights.To speak out or be a patriot is becoming increasingly dangerous especially in the workplace where it is becoming the crime of the century.We are bankrupt our futures sold by greedy banks,our manufacturing industries have ceased to exist,our politicians refuse to listen to the majority view and we are ruled by a European superstate who is only interested in cash in huge quantities and have done nothing for GB.To put it bluntly I fear hugely for the future of my nation it is ceasing to exist.George Orwell is a fitting patriot who warned what the future would hold for this country and he was right.

Mon, 08/23/2010 - 10:07 | Link to Comment Dismal Scientist
Dismal Scientist's picture

Come down off the ledge, my friend. You will find England is alive and well if you venture outside London. And is hopping mad for the most part. Noone does repressed rage like the English, read A.A. Gill's 'The Angry Island' for confirmation. I am still waiting for riots like the one's we had in the 80's. If we don't get them, then the populace have only themselves to blame.

 

Mon, 08/23/2010 - 11:16 | Link to Comment Bow Tie
Bow Tie's picture

the sun sets on the british empire, bitchez!

Mon, 08/23/2010 - 08:42 | Link to Comment ZeroPoint
ZeroPoint's picture

delete this.

 

 

Fri, 10/01/2010 - 07:25 | Link to Comment Herry12
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