Good news? Bad news? Or just news?

[NigelJK]

How long do you think it takes to bring the country back from the brink of bankruptcy?

[meridian]

How long do you think it takes to bring the country back from the brink of bankruptcy?

That’s a strong description. In what way was the U.K. on the “brink of bankruptcy”?

[Yorkie62]

That’s a strong description. In what way was the U.K. on the “brink of bankruptcy”?

What did the note say again..oh yes.."There's no money left" Kinda hints at bankruptcy. I know I am about to make one certain individual bankrupt.

[Old Greg]

How long do you think it takes to bring the country back from the brink of bankruptcy?

a) the UK wasn't on the brink of bankruptcy in 2010 if that is what you mean
b) national debt is now much higher

[NigelJK]

Be good to see some statistics to prove that. IIRC despite an unprecedented global boom, Broon still managed to knacker the economy for Generations.

[meridian]

What did the note say again..oh yes.."There's no money left" Kinda hints at bankruptcy. I know I am about to make one certain individual bankrupt.

Ah yes, that great body of evidence, a “note”.

Good thing you’re not in charge of anything.

[meridian]

Be good to see some statistics to prove that. IIRC despite an unprecedented global boom, Broon still managed to knacker the economy for Generations.

Statistics to prove what?

a. You’re the one that said “brink of bankruptcy”, it’s all yours to prove.

b. The national debt is clearly higher, there’s graphs in this very thread that show you that.

[Yorkie62]

Ah yes, that great body of evidence, a “note”.

Good thing you’re not in charge of anything.

Ah but that is where you are wrong again. I am in charge of something. Occasionally I am in charge of many things all at the same time. Sometimes I delegate my authority( my charge) to a computer. Worked for Boeing!

Sent from my SM-G955F using Contractor UK Forum mobile app

[scooterscot]

That’s a strong description. In what way was the U.K. on the “brink of bankruptcy”?

It becomes bankruptcy when you can no longer make payments, maintain cashflow, just like any business. What could cause this?

Increasing trade deficit.
Higher interest rates on foreign debt, of which there is a lot.
A massive devaluation of currency.

The last point is particularly worrying and increasingly likely. UK debt is only affordable at the minute because of floored interest rates. There's no room for central banks to manoeuvre during the next recession.
Generally speaking. Central banks have been loading up on Gold & Silver in the past few years in a large way. Even the BoE to the point of stealing from Venezuela. You think they won't do the same to the public?

The UK is about to become Greece Mk II on the EU's doorstep.

[Old Greg]

What did the note say again..oh yes.."There's no money left" Kinda hints at bankruptcy. I know I am about to make one certain individual bankrupt.

This should be entertaining.

What was the bankruptcy process that the UK was on the brink of?