Republished from the Broad Oak Blog:
One indication of our plight is the balance of ownership between ouselves and foreigners - who owns more (including official debt) of whom? The Econbrowser blog reproduces the following graph from a study of the US position:
And I give below a graph I've constructed from official figures, showing what's happened here in the UK:
For those inclined to blame solely New Labour for the economic disaster, this should be an eye-opener - look where we were in 1997.