{"id":25984,"date":"2017-09-22T10:56:26","date_gmt":"2017-09-22T15:56:26","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25984"},"modified":"2017-09-22T10:56:26","modified_gmt":"2017-09-22T15:56:26","slug":"pensions-and-debt-time-bomb-in-uk-1-trillion-crisis-looms","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25984","title":{"rendered":"Pensions and Debt Time Bomb In UK: \u00a31 Trillion Crisis Looms"},"content":{"rendered":"<div class=\"page-header\"><\/div>\n<div class=\"content-border-top\">\n<div class=\"container\">\n<div class=\"row\">\n<div class=\"col-sm-8 col-md-6 middle-col\">\n<div class=\"blog-post-inside post-6452 post type-post status-publish format-standard hentry category-weekly-market-update\">\n<div class=\"blog-post-text\">\n<h3 class=\"entry-title\"><a href=\"http:\/\/www.goldcore.com\/us\/gold-blog\/pensions-debt-time-bomb-uk-1-trillion-crisis-looms\/\">Pensions and Debt Time Bomb In UK: \u00a31 Trillion Crisis Looms<\/a><\/h3>\n<div>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.goldcore.com\/ie\/wp-content\/uploads\/sites\/19\/2017\/09\/maxpixel.freegreatpicture.com-Fireball-Brand-Explosion-Fire-Pop-Big-Bang-422305.jpg?x64374\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large aligncenter\" src=\"http:\/\/cached.imagescaler.hbpl.co.uk\/resize\/scaleWidth\/580\/offlinehbpl.hbpl.co.uk\/news\/NST\/pensions-2013112708473917.jpg\" width=\"400\" height=\"270\" \/><\/a><\/p>\n<p>There is a \u00a31 trillion debt time bomb hanging over the United Kingdom. We are nearing the end of the timebomb\u2019s long fuse and it looks set to explode in the coming months.<\/p>\n<p>No one knows how to diffuse the\u00a0\u00a31 trillion bomb and who should be taking responsibility. It is made up of two major components.<\/p>\n<ul>\n<li><strong>\u00a3710 billion\u00a0is the terrifying size of the UK pensions deficit<\/strong><\/li>\n<li><strong>\u00a3200 billion is the amount of dynamite in the consumer credit time bomb<\/strong><\/li>\n<\/ul>\n<p>How did the sovereign nation that is the United Kingdom of Great Britain and Northern Ireland get itself so deep in the red?<\/p>\n<p>This is not a problem that is bore only by the Brits. In the rest of the developed world a $70 trillion pensions deficit hangs heavy.<\/p>\n<p>We are all in this boat because we apparently didn\u2019t learn from the massive man made crisis\u00a0that was the 2008 financial crisis.<\/p>\n<p>The \u2018we\u2019 is referring to UK individuals who are on average holding \u00a314,367 of debt. It refers to the pension fund managers who are ignoring the fact they hold more liabilities than assets. It refers to banks and mortgage and loan providers who give loans to people who are already indebted and who will struggle to pay the debt back. It refers to a compliant media who do not have ask hard questions about irresponsible lending practices and cheer lead property bubbles due to getting significant revenues from the banking and property sectors.<\/p>\n<p>And,\u00a0 ultimately the \u2018we\u2019 is the government who peddled such terrible monetary policy that it has brought us as close to nuclear financial disaster as we have been since 2008.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pensions and Debt Time Bomb In UK: \u00a31 Trillion Crisis Looms &nbsp; There is a \u00a31 trillion debt time bomb hanging over the United Kingdom. We are nearing the end of the timebomb\u2019s long fuse and it looks set to explode in the coming months. No one knows how to diffuse the\u00a0\u00a31 trillion bomb and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[8689,14499,11511,1816,820,2080],"class_list":["post-25984","post","type-post","status-publish","format-standard","hentry","category-economics","tag-goldcore-com","tag-jan-skoyles","tag-mark-obyrne","tag-pensions","tag-uk","tag-united-kingdom"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25984"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25984\/revisions"}],"predecessor-version":[{"id":25985,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25984\/revisions\/25985"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}