Britain Isn’t Working, It’s Borrowing

By Stacy Herbert: This is the problem with neo-feudalism. One, obviously, cannot tax the oligarchs, lords, banksters and property speculators, which leaves you with the ugly people who have to work for food (and then just barely). This is the inevitable conclusion to any such pyramid scheme.

UK government debt soars 10%

The state of Britain’s finances deteriorated unexpectedly in September, pushing the deficit 10% higher in the first half of the year and leaving the chancellor further off course in his deficit reduction plans.
Borrowing last month totalled £11.8bn, £1.6bn higher than September 2013 and more than a billion higher than City economists were forecasting, as government spending increased more than the value of its tax receipts.

And here is the evidence of the denial of the small ruling elite and the few lucky winners of Thatcher’s great Right to Buy giveaway:

The public finances have been consistently weaker than expected in recent months according to the Office for National Statistics data.

To build a system in which unearned income pays more than earned means necessarily that it is far less scaleable than a German like system where wealth creation pays more.

And then this idiotic statement: “Britain borrows more than a year ago despite the recovery” . . . um, it’s “Britain borrowed more and so GDP rose, but it was just debt backing illusory house price gains and not wealth creating jobs or manufacturing.”

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