The article below was published by Eric Sprott, the guru of precious metals fund management. It applies to the US but the same issues face the UK. It is devastating.
Read this and appreciate how the political classes of the West are to a man (or woman) lying to you. They tinker, they pontificate but they are racking up liabilities which they know cannot be met. The unfunded future liabilities of the British, French, US Governments mean that they are all technically bust.
We face hard choices. We should be slashing entitlements and Government spending now. No politician will tell you this but the way we live is just not sustainable. They lie to you to get your votes. By the time we go bust they will be out of office. They do not care. Read this. Appreciate the real facts.
Conservatives in the US and UK say “Detroit is just Democratic/liberal incompetence”. That is a lie. Politicians of all parties are just as culpable. They are all lying to you.
Over to Sprott: