The Times reports that net debt rose in February, a month of usually positive receipts, a quote from some of the details linked here
The figures will add to the headache at the Treasury as it prepares for one of the toughest Budgets in decades on April 22. Alistair Darling is now virtually certain to exceed his net borrowing forecasts of £78 billion for the current financial year and economists predict the figure could top £90 billion.
How will the country ever be able to pay off this tremendous debt which is daily getting ever greater as things grow ever worse? Why are there no senior figures of substance prepared to step forward and properly acquaint the nation with the depth of its crisis? AND how long can the obscene payments to the EU which institution has stripped the country virtually bare be allowed to continue?
The Government with its insane and completely out of control spending compounded by its printing of money for the purchase of its own further debt is now in a state almost certainly beyond the law as it has long been understood in England. Let me quote from "The Tainted Source" by John Laughland who in turn quotes Hobbes:
Ever since the seventeenth century, successive British political philosophers have understood that the role of the state is to uphold the rule of the law, and thereby ensure the free functioning of the market. The market, after all, is nothing but a regime in which free contracts are concluded by individuals within a legal regime which enforces them. It is a creation of law. Because some thinkers, especially Thomas Hobbes, realised the congruence of sovereignty and the market society, they understood that the state's power should be judicial rather than administrative, and that a free society needs a neutral arbiter in order to function. Hobbes himself wrote'And therefore it belongeth to the commonwealth, that is to say, to the sovereign, to appoint in what manner all kinds of contract between subjects as buying, selling, exchanging,borrowing, lending, letting, and taking to hire, are to be made and by what word and signs they shall be understood for valid' A sovereign, in other words, is needed to ensure conditions for the respect of contracts:far from being incompatible with the free market, it constitutes it.
(Blog editor's emphasis)
So we again return to this blog's presumption that it is the dereliction of duty by England's Sovereign which is now permitting this financially crippling illegality to continue.
Labels: Bankrupt Britain