Friday, 24 June 2011

Sixty years of national debt

(Click to enlarge)

Above is a chart showing the UK national debt in actual billions of pounds since 1950. Overlaid are the prime ministers and political parties in office at the time. Some significant historical events are indicated.

The raw data comes from here.


chefdave said...

Nice chart, did you do it yourself?

2 or 3 years ago information like that would have made me very angry, and if I'm honest a little scared.

Now I feel indifferent towards the whole affair. I've realised that as a white, English, working, non-home owning male the UK establishment doesn't give a toss about me, so in turn I'm minimised my emotional stake in the system.

I don't care if the UK goes bankrupt, it's not my debt and I'll do everything I can to avoid paying it back.

Nationalist said...

The basic chart comes from the linked website. I then drew on the annotations. It's not really clear that any conclusions can be drawn - other than the debt has gotten very large quite recently.

You can see that the Labour apologists who claim that Labour reduced the national debt to start with are right, but they had it back up higher than ever long before the credit crunch. (The dip centered on 2002 is due to the selling off of the RF spectrum to mobile phone companies at excessive cost. Every mobile phone bill still contains an element of "stealth tax" to pay for this.)

The correct response I think is to opt out of the debt as much as possible. You can't stop them taxing you, but you can keep your savings in our currencies, eg Swiss Francs. (Gold has gotten a bit overblown I think, now. That ship has sailed.)

Anonymous said...

'Gotten'? 'GOTTEN'?!

Anonymous said...

Loved chefDave's comment...

"it's not my debt"

I think we need to get some bumper stickers made.