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The Wasp
Mr Raccoon

UK overtakes Japan in the race for who owes the most money.

Whilst the MSM speak constantly of cuts, the reality is that the UK has never owed more money and is now neck and neck with the Eastern basket case that is Japan.

The following chart from a ZeroHedge article shows just what state we are now in, with debt continuing to climb while the rest of the world starts the process of paying down at least some of their borrowings. For clarity, the UK is the blue line that leaves the rest of the pack behind and races up to join Japan in the lepers corner at the top of the chart.

Given that the budget itself isn’t forecast to be in balance until at least 2015, I assume that line can only go higher unless the whole pile comes crashing down in the mean time.

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2 comments to UK overtakes Japan in the race for who owes the most money.

  • Peter

    Is it me or does every chart I look at resembles a hockey stick?

    • Wasp

      Peter – they do tend to yes and there is a good reason – if you have 30 minutes to spare have a look at the Chris Martenson video in this post and you will see why hockey sticks are springing up everywhere.