2f. National Debt
“Mainstream media headlines today are focused on Britain’s record national debt, which just surpassed £1 trillion, a figure that can only exponentially increase unless the entire mechanism of Government finance is overhauled. The truth however is much worse, factoring in all liabilities including state and public sector pensions, the real national debt is closer to £4.8 trillion, some £78,000 for every person in the UK.”
http://www.nationaldebtclock.co.uk/
“As of November 2016, debt held by the public in the United States was $14.3 trillion or about 76% of the previous 12 months of GDP. Intragovernmental holdings stood at $5.4 trillion, giving a combined total gross national debt of $19.8 trillion or about 106% of the previous 12 months of GDP. $6.2 trillion or approximately 45% of the debt held by the public was owned by foreign investors, the largest of which were China and Japan at about $1.25 trillion for China and $1.15 trillion for Japan as of May 2016.” (Wikipedia) It is projected to increase and you can see it ticking away at :
So in the UK capitalism has, at time of writing, bought a debt of £78,000 for every man, woman and child. In the US every citizen owes $61,335 which works out as $167,000 per taxpayer.
Not only has capitalism failed but the socio-economic system of which it is a part continues to rape our planet and systematically destroy the conditions needed for life on earth. The clock is ticking indeed!
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2f