We Owe Us?
I would think everyone of my generation would have had a grandmother whose grave advice "Neither a borrower nor a lender be..." still rings in their ears to this day. We are also old enough to remember Margaret Thatcher's pronouncements on managing the country's economy as if it were a household budget; balancing the books carefully and prudently, saving for a rainy day and avoiding owing money where possible. Even today, we have Rachel Reeves' 'fiscal rules', strictly adhered to - some of the time - governing levels of taxation versus state spending on social services, health and defence, to name but three. Except that is not the way the world works. All countries and their governments are in debt - massively, apart from Macao, apparently - the largest numerical government debt being the United States of America; the most powerful nation on earth, and ultimately, caller of all the shots on just about everything for just about anyone, anywhere. The country...