So I was looking at some interesting figures about government debts, just now. I don't think I have to hurl the staggering US debt at anyone to make an impression. It would suffice to say that this year, the UK is spending 13% more than it's GDP. If you had a friend spending 13% more then his wage, how long would you two remain friends? How long for him to turn to you, begging for your hard-earned savings?
Many individuals have been acting to this plot. I'm not saying banks have behaved in a responsible way. Few people have as little love for banks as I do. I'm just saying banks behaved in a 'normal' way. If defined as: "ordinary or usual; the same as would be expected", as the dictionary does, that is. What I am saying, is that maybe it is time we all cleaned up our acts. Debt burdens are not healthy. 'But they are a cornerstone of our economic system!'
All the more reason for change. As individuals, as citizens, as politicians and yes, also as bankers, it is time we set ourselves some different benchmarks.
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