Our national debt is beyond manageable now
No it's not, we are not even near war-time levels.
The debt compared to GDP is smaller today than it was in the year of my birth, 1959.
The debt is below 100% of GDP, it was twice this in the last world war and over 150% of gdp all through the great war. It was higher than now during most of the Victorian era. The national debt today is below the level during most of the 20th century.
So no, the debt is not even close to being beyond manageable now.
Alcohol is becoming more of an attack point for most lefty/tree-huggers globally.
They're trying to blame it for everything.
Its the standard PC brigade where the rules are anything fun is to be banned.
Cant have a drink, can't tell a joke, cant travel, cant heat your home etc.
Where i live in Thailand the first covid restriction was a ban on alcohol in restaurants.
That then escalated to "cant buy it anywhere, even shops".
And that was the grand total of my provinces response to Covid.
Our national debt is beyond manageable now
No it's not, we are not even near war-time levels.
The debt compared to GDP is smaller today than it was in the year of my birth, 1959.
The debt is below 100% of GDP, it was twice this in the last world war and over 150% of gdp all through the great war. It was higher than now during most of the Victorian era. The national debt today is below the level during most of the 20th century.
So no, the debt is not even close to being beyond manageable now.
While the debt point may be true you have to factor in the fact that this island's prospects vis-a-vis productivity are very much worse, the profitable legacy of empire is much less and the private debt bubble is bigger than the national debt. All these things make the situation pretty intractable.
While the debt point may be true
There is no may be about it, since it is true, we have in the past had twice this level of debt to worry about. That is why markets are sanguine. Compared to over our history, we are still well off.One person's private debt is another person's asset, of course, since it all adds up to nought by the definition of the balance sheet. btw: Japan is twice as indebted as us. It is not the end of the world, pessimism is just part of the Victorian English habit of thinking ourselves worse off than we actually are: Micawberism.
