Warum gibt es etwas und nicht nichts? (Why is there something rather than nothing?) - Leibniz
Wednesday, May 13, 2009
Why inflation is going to hit us
Scott Burns at MSN Money (htp: Michael Panzner) calculates that unfunded government programs for social security and Medicare ($46 trillion) represent a debt equivalent to around 90% of all consumers' net worth ($51.5 trillion). If Americans' net assets decline by a further 10%, then effectively the American citizen is bust.
Can anyone provide equivalent information for the UK?