So What Have We Learned in 2,065 years?

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance."  -    Cicero   - 55 BC 

Evidently nothing ............

THE UK GILT MARKET

There can be little doubt that the UK is in a Sovereign Debt crisis

with current Sterling weakness underlying the problems ahead.

The UK is running the risk of losing its AAA rating with more expensive borrowing costs to industry and private individuals . Growth will be stifled leading to lower tax receipts

This will force government to borrow even more if they can or reduce public spending … little hope of the latter from the current Keynesian government chaotic thinking. They could resort to more QE (crazy money) which would dramatically collapse the pound leading to insufferable inflation. We are already leader of the pack in this regard.

The Gilt markets are controlled by rising and falling interest rates. It is difficult to see how the deranged antics of this government in collusion with the Bank of England can lead to anything other than forced higher interest rates accompanied by falling Gilt values.

(Click here to read the full article)

Regards,

Fred Stafford.

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