Tuesday 23 May 2023

A TIME BOMB

 

American debt in 2011 was 95% of it's annual economic output. Since then it's continued borrowing instead of trying to bring the debt down. It was 105% in 2018, but is now a lot higher somewhere between 120% and 122% .Harvard economic Professors Carmen Reinhart and Kenneth Rogoff have concluded that any debt over 90% of it's annual economic output is dangerous. Which means America's debt is a bomb that is waiting to explode, its only a matter of when it will happen.

In April 2020, Boris Johnson's government ordered the British people to stay at home. Overnight Restaurants, Pubs, Cinema's, were all forced to close. public gatherings stopped, travel ceased. Firms throughout the UK faced going bust, millions faced unemployment. Having created this crisis Johnsons Chancellor Rishi Sunak then volunteered to pay for it. On march 20th 2020, when he unveiled a huge  spending plan, those who couldn't work government paid 80% of their wages up to a cap of £ 2,500 a month. In making this commitment  Rishi admitted that he had no idea what it would cost. In effect half the country became government employees and the Tory's had adopted Socialism. Company's of all sizes began demanding government cash, The problem this created was with each new hand out someone somewhere wanted more. Once they receive handouts people expect them to keep coming. When UK economy last went into such a drastic course it took from 1939 to Thatcher's 2nd term in 1980's to sort it out. It will take longer this time, what happens if we have another crisis ? are we going to print more money create more debt ? how long before government financial currency collapse ?

The English used to look to their own resources 100 years ago our grandparents would never have expected the government to save them. But now we are weaker and fragile and expect the government to care for us. If we are unemployed or sick, to bail out banks, to fund the arts and sport. In UK we pay about a lot in tax, yet even such a hefty level of taxation is not enough to survive. The 2008 financial crisis the UK had to borrow heavily. and spent billions bailing out the banks in 2008.  Brexit coming the government didn't want to borrow huge amounts so it looked at another way. The Bank of England started quantitative easing and printed 236 billion pounds, which means it created money from nothing. Our currency was once backed by gold in the vaults of the Bank of England but Gordan Brown sold it off. quantitative easing can be dangerous because it could lead to hyper inflation that renders a currency basically worthless. 

The British financial system is now sitting on a foundation of debt. We are now in a cycle, where the government manages the economy by encouraging people to borrow when crisis hits it lowers interest rates so people  borrow more and spend more with no savings the people cant afford to look after themselves in times of trouble and must seek government help, government borrows more money the cycle builds up a huge debt, which is unsustainable little by little step by step we are creating conditions for a economic crash.

Our present financial practices are unsustainable England needs a real solution. some of the smartest minds in the City of London have now admitted our current system is broke, it needs more then a tweak of interest rates or a different way to print money. It needs something entirely new. 

The foundations of a English community based on the the heathen faith can offer that. We must start the work on building a foundation upon which we can establish a fair stable prosperous system where all men can sit under his apple and pear tree and enjoy the fruit, a place we can plant our crops and be prosperous were we can sing and celebrate our culture and faith freely. The coming financial hardships will help bring thousands of our English brothers and sisters to listen to our beliefs allow many to choose to join us. Wodin is leading us and as we grow so does his power.  

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