The source of the term ‘put it on the slate’ probably comes from recording drinks bought in English pubs as chalk marks on slate boards. Rather than pay for drinks as they are bought, the practice was to record each drink purchased as a chalk mark on the slate and to pay for the drinks at the end of the night. This quaint practice has become the way we live our lives in Britain. It is as if we have become permanently drunk.
The slate is now SHOUTING back:
- You have been grossly irresponsible.
- Your debts are out of control
- Without economic growth you are doomed to default and as there is no economic growth so you are doomed to default
- Well before your children inherit this appalling debt you will be called to account
- Excluding the great financial sector intervention debts UK public sector net debt is not over £1 trillion, or 64% t of GDP
- Including the great financial sector intervention debts UK public sector net debt is £2.3 trillion, or 148% of GDP
- Total private and public debts are trillions of pounds or 500% of GDP
“The writing is on the wall”."The writing is on the slate"
Filed Under: Market Outlook,