Friday, 25 October 2013

B*llsh*t Debt Statistics

In a pub a couple of weeks ago I tried to explain a crazy fact about the UK's level of national debt to a friend. According to infamous leftie historian Niall Ferguson Britain's most worrying time of national debt wasn't now, or in the 70s, or even after either of the two world wars. The worst level of UK debt as a % of GDP was 200 years ago.

First Graph - what we normally see when the subject of debt is discussed in the media - note the scary graph starts at 2008 

Second Graph - those same figures - debt as a % of GDP shown historically before 2008

Third Graph, for US readers showing what your level of terrifying debt (default! default!)  looks like compared to the record of the UK. Note that AFTER that high peak of debt the UK became the sole world superpower. So much for national decline based on debt eh?

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