by Mark O’Byrne, GoldCore:
– £1 trillion crisis looms as pensions deficit and consumer loans snowball out of control
– UK pensions deficit soared by £100B to £710B, last month
– £200B unsecured consumer credit “time bomb” warn FCA
– 8.3 million people in UK with debt problems
– 2.2 million people in UK are in financial distress
– ‘President Trump land’ there is a savings gap of $70 trillion
– Global problem as pensions gap of developed countries growing by $28B per day
Editor: Mark O’Byrne
There is a £1 trillion debt time bomb hanging over the United Kingdom. We are nearing the end of the timebomb’s long fuse and it looks set to explode in the coming months.
No one knows how to diffuse the £1 trillion bomb and who should be taking responsibility. It is made up of two major components.
- £710 billion is the terrifying size of the UK pensions deficit
- £200 billion is the amount of dynamite in the consumer credit time bomb
How did the sovereign nation that is the United Kingdom of Great Britain and Northern Ireland get itself so deep in the red?
This is not a problem that is bore only by the Brits. In the rest of the developed world a $70 trillion pensions deficit hangs heavy.
We are all in this boat because we apparently didn’t learn from the massive man made crisis that was the 2008 financial crisis.