Psssst France: Here Is Why You May Want To Cool It With The Britain Bashing - The UK's 950% Debt To GDP

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Sun, 12/18/2011 - 22:46 | 1992741 Seasmoke
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The Queen Is Dead

Sun, 12/18/2011 - 22:57 | 1992768 kridkrid
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She said : "Eh, I know you, and you cannot sing"
I said : "That's nothing - you should hear me play piano"

Sun, 12/18/2011 - 23:24 | 1992898 The Big Ching-aso
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If the Brits go to war with the French all they have to do to utterly obliterate them is cut off their food supply and feed them their's.


Sun, 12/18/2011 - 23:49 | 1992997 TruthInSunshine
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I seem to recall making this exact point about the U.K.  9 days ago, citing the same chart, and having the blind defenders and loyalists of the British Dump of Toxicity go batshit crazy in response:


Assuming Haver Analytics, which I believe is a semi-independent affiliate of Morgan Stanley, has their data set in good shape, total debt (governmental, household, financial, non-financial) as a % of GDP is far and away the highest in the UK out of any developed nation in the world, at just under 1000%.

In  the developed world asylum of debt addicts, the UK is 'Chief Crazy Pills', full on lobotomy (and a huge reason why is their cesspool, gangrenous financial sector, which is a plague and scar upon the land):


And let me state, in anticipation of what I assume may be part of [the response of blind defenders and deflectors of the U.K. and objective, arithmetic-derived observations regarding the U.K.'s morbid financial condition], that in the final analysis, if one assumes that this debt gets repaid, even if by devalued fiat and therefore as just a mere technicality and not truly in substance, there won't be any difference between how financial sector debt and governmental debt is prepped and treated, as the financial sector debt will all be nationalized anyways (thus ultimately becoming governmental debt).


And the point about the financial sludge representing such a major % of U.K. debt shouldn't be narrowly construed to the woes of the U.K. and its extremely large, inefficient & incredibly subsidized financial sector, either, because the U.S. is literally walking in the shadow footsteps of the U.K. (the central fractional bankers who plot U.K. and U.S. monetary policy work from the exact same playbook, and in fact, are nepotistic and incestuous, to a large degree) - it all stems from the successes of Nathan Mayer Rothschild literally buying Britain, and then using it to deeply penetrate the colonies way back when.

The U.S. is literally 40 to 50 years behind the U.K., because the fractional reserve conjurer/sorcerer bankers control the money supply in both England and the U.S. (look at how the UK lost its domestic manufacturing companies, and went to a FIRE economy, with finance, in all of its wealth draining variations, being the foundation of their now collapsing house of cards, while at the same time deeply capturing the legislators and regulators in England, and thus sucking the taxpayers to the edge of death, and crowding out productive, efficient investment --- just like the United States).

Mon, 12/19/2011 - 00:38 | 1993187 Oh regional Indian
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Indeed TIS. Given that the UK is the home of fractional reserve malarky, it makes sense that they are the most fractionally reserved and the most un-reservedly insane nation.

Of course, Paris is in-seine, but that is a whole other story. What this story does is re-cast the spotlight on why was the UK buying so much US debt off late?

And back when in 1999, why did Brown sell the gold? So cheap?

I think there are too many hidden currents to make linear assumptions about GB OR the GBP for that matter. It's been kept out of the Euro for a reason.



Mon, 12/19/2011 - 07:20 | 1993565 philipat
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Depends on the definition of "Financial" debt. In either definition, it doessn't include CDS and other derivatives exposure. Most of which have, at the very least, counterparties on both sides in NY. When "Net" becomes "Nyet" the SHTF. So don't be so fucking cute, the financial markets will sink, or swim, together.

Mon, 12/19/2011 - 07:33 | 1993582 fourchan
fourchan's picture

other than being next to each other, what do france and germany have in common anyway?

these buddy buddy pictures with merkel and sarko always leave me with a big WTF?


Mon, 12/19/2011 - 17:15 | 1995545 tooktheredpill
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not all debt is equal though - length of maturity has to be taken into account.

Mon, 12/19/2011 - 08:25 | 1993619 BobRocket
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 If you repeat a lie often enough it will become the truth (unless you can do the math)


 'why did Brown sell the gold? So cheap?'


He got ~16 barrels of brent crude for every ounce he sold.


How many barrels of brent crude could you buy today with one ounce of gold, surprise surprise it turns out to be ~16


You might notice that you require 7 times more dollars to buy an ounce of gold today than you did in 99, gold is worth what it always was, the dollar is now worth shit.





Mon, 12/19/2011 - 07:24 | 1993571 NuYawkFrankie
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Re The U.S. is literally 40 to 50 years behind the U.K.

Hmmmm.... that's a howler!  The USA & UK are co-joined, they operate as one - the Bonnie & Clyde of high finance.

Make no mistake, when the UK goes down, the US follows - and vica versa


Mon, 12/19/2011 - 11:40 | 1994092 TruthInSunshine
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I think you either misinterpreted my statement or that I wasn't clear enough in terms of what I wrote.

By writing that "[t]he U.S. is literally 40 to 50 years behind the U.K.," it was my intent to state that we in the U.S. are walking in the footsteps of England, and that one can literally predict the future of the U.S. (in terms of composition of economy by sector, debt levels, income distribution, and even media trends [e.g. With outright gossip comprising the bulk of the news consumed]) by studying England now.

The U.K. went from the greatest power on earth for a short spell, to a major industrialized nation with a still disproportionately large MIC, to a de-industrialized FIRE economy with a large but trending smaller MIC (as the U.S. and NATO provided umbrella of protection), to what is now a banking/financial sector top heavy capsizing vessel, with the ill financial health of limitless bank/financial sector bailouts and propping up of that sector crowding out other segments of the economy, and imposing brutal externalities upon taxpayers and other businesses, with a social entitlement system that literally can not be sustained given the demographics of the nation and the extremely low level of labor force participation and youth unemployment.

Hence, the U.K. trends ever closer to rich man-poor man society, in a more pronounced way than since the Dicken's "worst of times, best of times."

The U.S. is now about where the U.K. was back in the 1940's, pre-WWII, economically (obviously, the massive war machine the U.S. had assembled, but which will now be disassembled as it's no longer sustainable, is the one critical difference between the U.S. and U.K., given the U.S.'s status as protectorate of much of the oil producing Middle East).

Ultimately, the U.S. is on the same trajectory as the U.K., and for the same reasons - a massively subsidized and net-net wealth draining financial/banking sector that cripples the rest of the economy and absolutely punishes taxpayers and private consumption.

Germany chose not to subsidize its banking and financial services sector to nearly the same degree as the U.K. or U.S., and thus enabled market forces to create the conditions to allow the other segments of its economy to not become surcharged and crowded out, nor taxpayers to be anally raped on a constant basis to bail out cancerous financial/banking actors due its ability to prevent deep capture of German legislative and regulatory bodies by fractional reserve banking interests (Germany has moved towards a much more balanced economy, adapting to many of the challenges raised by a globally integrated economy with cheap labor abundant in eastern europe, south america and China, while ensuring that a good chunk of its high wage and advanced fabrication/production methods that center around many highly technical and even proprietary information stays within Germany).

Mon, 12/19/2011 - 16:37 | 1995368 Hive Raid
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Well congratulations, you get the Golden Coxucker Award. It's not exactly a knighthood, but knights are a little light in the gauntlets these days. I now annoint you: Sir Golden Coxucker. And if you stop me again whilst I'm walking you'll be next in line for a Nobel. Now scram!

Mon, 12/19/2011 - 00:50 | 1993213 Eireann go Brach
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Ponzi collapses do not care if the UK is in the EU or not, everything and everyone is interconnected these days, so they are all fucked anyway. They are arguing who should pay the bar tab in the Titanic at this stage!

Mon, 12/19/2011 - 04:48 | 1993484 Boeing Boy
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Duck gizzard salad?  I don't think so.  For all you Americans, it is very easy to buy healthy salads and be served wonderful seasonal vegetables in any British restaurant.  I always bring vitamin pills when touring America.  French food is stuck in the middle ages, still using cheap cuts of meat and cooking it for days, or, worse still lake fish.  

My recommend would be all things Italian.

Mon, 12/19/2011 - 05:39 | 1993516 vxpatel
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marmite cluster bombs - bitchez.

Wed, 05/16/2012 - 02:26 | 2430531 jaffa
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The debt is an obligation owed by one party to a second party, the creditor, usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value. Thanks.
Scottsdale Real Estate

Sun, 12/18/2011 - 23:26 | 1992921 New Normalist
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Oh, has the world changed or "has England" changed?

Mon, 04/16/2012 - 01:45 | 2347890 jaffa
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The debt obligation is considered secured, if creditors have recourse to the assets of the company on a proprietary basis or otherwise ahead of general claims against the company. Unsecured debt comprises financial obligations, where creditors do not have recourse to the assets of the borrower to satisfy their claims. Thanks.
fitness clubs in mississauga

Sun, 12/18/2011 - 23:18 | 1992876 NumNutt
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This is off topic but did anyone else just hear that the crazy ass leader of North Korea just died?  Can't wait to see what his son has in mind for that country....

Sun, 12/18/2011 - 23:47 | 1993016 alex_g
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Mon, 12/19/2011 - 00:11 | 1993060 The Big Ching-aso
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Mon, 12/19/2011 - 01:48 | 1993331 Michael
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Talking about winning;

Public Policy Polling: Paul 23% Romney 20% Gingrich 14%!

Breaking news - Paul Passes Gingirich in New Hampshire at 21% ! ! ! !

Mon, 12/19/2011 - 02:14 | 1993366 natty light
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Donation site surpasses $4 Million goal. As of right now at $4,019,513.86

Mon, 12/19/2011 - 08:35 | 1993624 BigJim
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I pray God he's got effective security.

If Ron Paul becomes prez he'll have more would-be assassins than JFK, MLK, Jesus, Rabin and every other would-be peace-maker combined.

Mon, 12/19/2011 - 10:12 | 1993782 Crisismode
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ONLY if he does not do what TPTB want him to.

Mon, 12/19/2011 - 04:05 | 1993458 dolly madison
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Was "that crazy ass leader of North Korea" really crazy, or do they just say that about any leader that goes against the ponzi.

Mon, 12/19/2011 - 05:40 | 1993518 vxpatel
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my crazy is less crazy than your insanity?

Mon, 12/19/2011 - 08:36 | 1993626 BigJim
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Haven't you seen Team America?

Mon, 12/19/2011 - 10:55 | 1993920 Quinvarius
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I don't think Team America was a documentary.  I am pretty sure it was a puppet show.

Mon, 12/19/2011 - 12:15 | 1994292 BigJim
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Mon, 12/19/2011 - 15:48 | 1995134 vxpatel
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depends on what your definition of the word 'is' is....

Sun, 12/18/2011 - 23:21 | 1992897 Buckaroo Banzai
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Fucking Limeys.

Mon, 12/19/2011 - 10:32 | 1993850 fredquimby
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Aussie twat

Mon, 12/19/2011 - 10:33 | 1993851 NotSpartacus
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+1 If you mean the 0.0001% 

-1 If you don't

Mon, 12/19/2011 - 00:17 | 1993116 He_Who Carried ...
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"The Queen Is Dead"

Nonsense, she and all her kin will move back to Germany and take all Anglos and Saxons with them and leave that floating pile of smelly sh*t at the mercy of Picts and Sharks. heheh

Mon, 12/19/2011 - 01:04 | 1993252 old naughty
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so you are saying UK is kept out of the EU so it can become a dump-site for debts, with no reserve...?

Mon, 12/26/2011 - 14:12 | 2011955 DrunkenMonkey
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Well it is the fastest place to discharge debts in bankruptcy proceedings at 12 months, currently

Mon, 12/19/2011 - 01:04 | 1993251 maxcody
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Big difference Britian can Print money the French can not.  Yes the food in

France is better but the Germans have the best wheat Beer.

Mon, 12/19/2011 - 01:09 | 1993266 vipobviously
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Queen has no clothes on/naked,

Ugg Guess your version was better

Mon, 12/19/2011 - 01:17 | 1993282 vast-dom
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That's some scary beyond-zombie shit!

Mon, 12/19/2011 - 03:23 | 1993428 The Big Ching-aso
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"The Queen is Dead"...............


Hey, I'm pretty sure Elton's still alive, man.


Mon, 12/19/2011 - 05:11 | 1993500 sharpe
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These are interesting points, but miss the main point. Rating agencies are looking at government debt here. The UK government has a far longer duration on its bonds than other states, which means it will require much funding over the next few years than other nations. And unlike France it can print money which means it can default at its own leisure.

Mon, 12/19/2011 - 08:39 | 1993629 BigJim
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I thought by now we'd pretty much established that financial debts are government debts, or will be made so rather than have the precious share/bond holders take a hit.

Mon, 12/19/2011 - 07:43 | 1993592 Quintus
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Check this out.  'Noyer' translates as a noun to 'Nut' in English (A Walnut specifically) and as a verb to 'Sink' or 'Drown'.

Could a lunatic in charge of a sinking economy possibly be named any more appropriately?

Sun, 12/18/2011 - 22:47 | 1992743 JPM Hater001
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And there you have it.  Once again the Brits lead the world in mass destruction.

This is very sad really when once considers the global empire they once were.

Take a very good look America.  Here is our future.

Mon, 12/19/2011 - 00:50 | 1993216 bill1102inf
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Except America has more intrinsic value than most of the world.

Sun, 12/18/2011 - 22:50 | 1992747 kridkrid
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It's just math.  Credit/debt money loaned into existence with interest.  Repent.  The end is near.

Sun, 12/18/2011 - 22:52 | 1992753 gangland
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  (             )
 `--(_   _)--'
     /     \
      `--'.\                     ,
        |   `.__________/)


Sun, 12/18/2011 - 23:13 | 1992848 Cursive
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The text only deer in headlights.  Classic.

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