MoneyWeek is the UK’s best-selling financial magazine. The following quotations were taken from its January 2013 article, ‘The End of Britain.’
“Two and a half years ago, when the Coalition government formed, we were already in a huge amount of debt. In fact, the previous government had left the country sinking under £700 billion’s worth...In recorded economic history, every single country with debts as big as ours, every single one, has suffered a devastating economic collapse. There are NO exceptions… we owe TEN TIMES what our entire economy is worth…
By the next general election in 2015, our national debt is estimated to stand at almost 1.4trillion...
Our politicians… acted like teenagers with their first credit card, all to win votes…
The explosion of government spending and government debt has mostly come in the past 30 years…
Thousands of people will lose a lot of what they have. And they won’t be able to do a thing about it…
When a financial system ceases to function, the social fabric begins to fray… We are talking about the breakdown of social order… Britain is going to change very significantly… Social order quickly breaks down when the money stops flowing…
The Weimar Republic’s total debt equalled 913% of its economy… The country descended into a period of economic and social crisis… And that was with debts worth 913% of the economy. Today, Britain’s total debt equals 900% of the economy… our debt load rivals the Weimar Republic in scale…
A catastrophe that ended with the rise of the Nazi party…
The day of reckoning is approaching.”