Gordons' economic miracle has been built on consumerism fueled by credit. Not just cards and loans but re-mortgages based on over inflated house prices. Money from nowhere !
We don't make anything anymore because we think manual labour is below us and we can build a 'high tech' economy. All of us sitting behind a pc while the East creates real wealth.
Not that we can compete with the rest of the world because our economy has been warped by the out of control welfare state. Who wants to sit behind a machine knocking out widgets all day when a comfortable life is out there paid for by the 'government'. "me grandad paid in for years".
When this does come crashing down it will not be pleasant.
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