The interest the UK pays on its #publicdebt is rising, mainly due to around a quarter of all #gilts being indie-linked & therefore rising in cost in line with #Inflation.

You'll note on this (again) the UK is unusual

Whatever else is going on, the #Tories inability to find a workable strategy to combat inflation, allows them to continue arguing for fiscal #austerity... so no wonder they are not dong so much about inflation, it serves (again) their small state ideology (by other means).

Singapore, US With Highest Public Debt per Capita, China Most Indebted in BRICS: Study - Singapore, the United States and Japan top the global chart in terms of sovereign ... - https://news.bitcoin.com/singapore-us-with-highest-public-debt-per-capita-china-most-indebted-in-brics-study/ #governmentdebt #sovereigndebt #unitednations #publicdebt #statistics #percapita #singapore #russia #brics #china #japan #news #data #debt #eaeu #u.n. #u.s. #un

So why does the #Tory Govt. seem to be dragging its heels when thinking about alternative policies to reduce #inflation?

Well the cynical among you might wonder whether a protracted period of inflation might slow a pre-election claim that #RishiSunak had reduced the #publicdebt (having allowed it to potentially drop as a proportion of nominal GDP)?

You, might think that, but I couldn't possible comment....

[a nostalgic Francis Urquhart phrase for my older followers there]

The #costoflivingcrisis has an #international dimension:

across the developing states (& especially low income countries) the cost of borrowing (#publicdebt) has been increasing at the very same time that the global market conditions (& associated regulatory environment) have worsened....

As Martin Wolf (FT) is now arguing, it is time for a massive programme of #debtrelief before we see even worse outcomes across the poorer countries of the world!

#DebtJubileeNow!

France’s Le Maire goes full out to avoid S&P credit rating downgrade https://www.euractiv.com/section/economy-jobs/news/frances-le-maire-goes-full-out-to-avoid-sp-credit-rating-downgrade/?utm_source=dlvr.it&utm_medium=mastodon #BrunoLeMaire #Fitch #greentransition #ING #publicdebt

France’s Le Maire goes full out to avoid S&P credit rating downgrade https://www.euractiv.com/section/economy-jobs/news/frances-le-maire-goes-full-out-to-avoid-sp-credit-rating-downgrade/?utm_source=dlvr.it&utm_medium=mastodon #BrunoLeMaire #Fitch #greentransition #ING #publicdebt

As the torys slide ever further into sleaze, corruption and incompetence, all they seem to have now as any kind of answer when questioned on just about anything is deflection with a rather large portion of bitchiness thrown in.
#speeding #sewage #inflation
#PublicDebt #brexitshambles #costoflivingcrisis #energybills #fascism #corruptmedia #culturalmarxism #climateemergency #toryracists #immigration #CruellaBraverman
#ToryCorruption #torylies
#ToryLiars #ToryCriminalsUnfitToGovern

The #ONS has circulated this chart to show that the UK Govt. has plunged into negative net worth; a negative relationship between outstanding #publicdebt & the assets owned by the state.

Seems to me this is a category error; much public debt is about investing in the UK (both tangibly & intangibly) not merely financing state infrastructure, so surely the asset log should include all UK-owned assets not just those owned by the Govt.?

Looks like scare tactics to argue for a small(er) state?

Remember when a whole bunch of #HouseRepublicans threatened to default on the nation's #PublicDebt unless they could destroy the ACA?

Uh, yeah.

It's that type of insanity that's scuttling McCarthy's bid for #HouseSpeaker

My favorite part of that drama was Krugman's idea to mind a trillion-dollar coin so as to avoid juvenile debt-ceiling fights.

Sure, it was absurd, he said, but any less absurd than GOP hostage-taking?

https://www.nytimes.com/2021/10/01/opinion/biden-coin-democrat-republican-debt-limit.html

Besser kann man #Lindner nicht kommentieren.
/PM
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RT @PGolka
German finance minister #Lindner, known for his grandstanding, moralized fiscal hawkism, advocating for hundreds of billions new #publicdebt to be used not for productive investments but solely for financial market speculation. You really can't make this up. https://twitter.com/c_lindner/status/1600040877539397632
https://twitter.com/PGolka/status/1600085506712141824

Besser kann man #Lindner nicht kommentieren.
/PM
---
RT @PGolka
German finance minister #Lindner, known for his grandstanding, moralized fiscal hawkism, advocating for hundreds of billions new #publicdebt to be used not for productive investments but solely for financial market speculation. You really can't make this up. https://twitter.com/c_lindner/status/1600040877539397632
https://twitter.com/PGolka/status/1600085506712141824

And as for sustainability, those who think it can be determined by mathematical-probabilistic methods – as, for example, as proposed in a hypothesis elaborated by former IMF chief economist Olivier Blanchard and others – overlook a much more decisive factor, namely how much and by whom the debt can be guaranteed, which depends on formally technical, but in fact political, decisions. Put more clearly, if there is a central bank umbrella, debt-induced instability remains a remote possibility, as Draghi’s now mythical whatever-it-takes should have taught us. Not to mention that any estimation of debt sustainability should be taken with a grain of salt, as the methodology used determines the outcome."

https://braveneweurope.com/carlo-clericetti-eu-rules-germany-looking-backwards

2/2

#debt #PublicDebt #EU #Germany