While we all sit back and watch the train wreck that is Greece prepare to default (or whatever posh name they will come up with in due course) the UK goes on happily borrowing money at the rate of £17.4 billion for the month. That’s £17,400,000,000 in a month. What’s concerning me is that servicing our debt now takes 8.5% of government spending. That’s more than the complete tax take from corporation tax (page 6 here). All I can say is that the future generations will not be pleased. I’m just a simple Average Joe but it really just doesn’t seem right asking children who are not yet born to pay for our lifestyle today.
As this all unfolds we’ve seen stock markets around the world decrease in price in recent times. I actually have no idea what moves prices (that’s why I don’t trade) but I can’t help feel that Greece is having a good impact but also we shouldn’t forget good news like this from China.