Debt

A few interesting facts:

The UK national debt means that it owes about £32,400 per person in the UK. So a family of 4 would owe about £129,600.

The US national debt means that it owes about £81,000 per person in the US. So a family of 4 would owe about £324,000.

Neither debt is being paid off and is constantly increasing at an average of 8% a year.

It does make you think about the credit system and legal profession who will quite happily damage or destroy lives for a 1% short term variation at one point and governments that will allow this to happen.

The banks work on the principle that a very small debt can be use by them to inflict destruction, but a very large debt is too risky to take blame or change as it may cause repercussions for them.

So if somebody owes £1,000, a bank will use all it’s power to recover it, closing down viable businesses, but a £100 million debt they will allow to continue, and the managers and directors to still get a good income, even if the business is not viable. Little business, big business, banks seem to have dubious and dishonest double standards.