Gross debt at the end of 2012 stood at £1.387trillion, up 7% on 2011
Vast sum is equivalent to 90% of GDP – up from38% a decade ago
Figures used to compare UK to the rest of Europe
Mounting debts reveal the devastating impact of the 2007 crash
Britain’s debt mountain has topped £1.387trillion, and is now the equivalent of 90 per cent of the entire economy.
The grim milestone was passed at the end [...]
MOSCOW (AP) — President Vladimir Putin on Wednesday angrily rejected what he described as attempts to enforce foreign patterns of democracy on Russia and vowed to preserve the nation’s identity against interference from abroad.
Putin’s speech was his first state-of-the nation address since winning a third term in March’s election despite a wave of massive protests in Moscow. Putin has pursued a tough course on dissent since his inauguration with arrests [...]
PRINCETON, NJ — As the U.S. Supreme Court begins its 2011-2012 term, Americans’ approval of the institution is now 46%, a drop of 5 percentage points in the last year and 15 points in the last two years. Since 2000, Gallup has recorded only one approval rating of the high court that is lower than today’s: 42% in June 2005.
The new rating comes from Gallup’s annual [...]
by Charles Hugh Smith from Of Two Minds
The Limits Of Engineering
The notion that better engineering can solve all our problems is rooted in an ignorance of non-linear systems and selective/wishful thinking.
I recently received an email from a Chastizing Retired Engineer (CRE) that reflected both a ubiquitous spiritual disease and a profound ignorance of the limits of engineering. What fired the CRE’s undimmed rage was my [...]
The country as a whole, will face a drop in living standards. Not only was the country living beyond its means, but so were many American families. The bubble hid the fact that the economic state of the nation was not as good as reported. The focus on GDP has been misleading. Many groups and segments in the U.S. already face weak prospects. According to BEA males in their 30′s [...]