UK fooked

[speling bee]

But the Japanese debt is largely bought by its own citizens who are long term holders.

Most UK debt is held by institutions who might decide to sell.

Japan has ticked along OK, but has an aging population, who might like soon to cash in their savings.

[Mich the Tester]

Japan has ticked along OK, but has an aging population, who might like soon to cash in their savings.

Only part of their savings; their culture seems to encourage saving for the next generation.

[speling bee]

Only part of their savings; their culture seems to encourage saving for the next generation.

But as each generation gets smaller, where does the money come from to pay for retirement?

[GreenLabel]

Public borrowing jumps in October

from 6 billion to 8.6 billion

So to summarise the deficit is ballooning out of control

This must be that austerity that they keep telling me about.