This article is sobering reading. Obviously, we are screwed here in the UK. The most disturbing part is that this £1.3trn paid to bail out banks represents the value of the UK economy for a whole year.
The article is also interesting reading because it shows the whole RBS pension story last week was a smokescreen for more disturbing news. Like something straight out The Thick Of It I imagine.
To get some kind of grasp on that number above imagine this: If someone was to give you £1 every second it would take 41,195 years to receive £1.3trn.
I despair at the news sometimes. Take a look at the screenshot from the ‘MSN Today’ headlines which popped up when checking Hotmail earlier. Notice something wrong? Why oh why is the Big Brother “story” above the news that Boeing is to lay off 10,000 workers? Is that all we care about these days, the cult of the celebrity and inane TV shows? I have ignored the weather story on purpose; Here in the UK we have had an obsession for the weather since the begining of time. Maybe it is at the top because if we have 0.2cm of snow the national infrastructure stops and we get warned to stay at home for our safety. But I won’t even go there…