Panic !

77.7% of GDP is what we will top out at according to New Labour predictions in five years .The Darling predicted £118 billion borrowing last year but it is a jollier fatter vastly more festive £178 billion. ( The Treasury is actually looking to borrow £243 billion from the City by the end of the financial year slippeed it out ) – . Even at the Budget Dodgy Al was predicting 3.5% down this year whereas we have another fine plump figure of 4.75%.
The Independent average prediction for real growth next year is just over 1% unless I have misunderstood , the PBR says 2% and then 3% onwards .Taken the whole thing and we are not close to 100 % I `ll be surprised . What above all worries me is that we seem to be assuming levels of growth achieved only by an asset bubble in the first place . Ruth Lea pointed that this was nuts and she has been known to get few things right

I see the rate to insure UK debt is 0.85% (Germany is 0.35% for example )

I `m buying gold , tinned food and a gun