Monday, 24 November 2008
Getting more debt to solve the problem of debt- mmmmm
Darling announces today that he is going to borrow £118 billion (instead of the projected £38 billion) to keep Britain Ltd. from collapsing next year. Indeed it is quite possible that somebody can borrow money to get themselves through a bad time. However it is also possible for someone to dig themselves deeper and deeper and deeper into a dark hole. Of course, I do not possess a crystal ball so I obviously don't know for certain which scenario we are in- however both these options are possible. In such a dangerous situation it is only sensible and rational to expect the worse case scenario, prepare for it while maintaining hope for the best.