in God we trust on knife's edge

arabianmoney: UK most indebted nation in the world reveals new study

It is not only a race for the weakest currency - to play along the praised export route while we trust in God; it also is a negative race towards who built up the biggest debts. And that is even less funny:

A new study from brokers Tullett Prebon called ‘Project Armageddon’ has established the true scale of borrowing in Britain which amounts to a truly staggering £5 trillion or $8.3 trillion.
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Once pension fund liabilities and PFI contracts are included the total public debt is £2.46 trillion or 167 per cent of GDP. To that you have to add the £1.34 trillion in financial sector bailouts. The total public debt is therefore £3.6 trillion or 244 per cent of GDP or £135,000 per UK household.
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Then there is £1.2 trillion in outstanding mortgage debt and £210 billion in unsecured mortgage credit. Together public and private sector debt amounts to £5 trillion, or 340 per cent of GDP.
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‘Project Armageddon’ is actually pretty thin on predictions as to where this debt mountain will take the UK, apart from flagging up the inadequacies of current government policies, namely that they rely on the resumption of high rates of economic growth that are impossible with 70 per cent of the economy laden with debt.
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You are left to draw your own conclusions about the merits of holding sterling-denominated assets with this sword of Damocles hanging over the economy. And the investment conclusion about the UK is surely don’t go there!

Of course, e.g. Germany's debts calculated on the same bases as above are also something like €8 to €10 trillion. But that makes the ice on which we all stand no thicker; the conclusion can hardly be leaning back watching Euroland implode or the Dollar's Greens grow over while hoping for the Pound's Phoenix-like recovery.

There is a huge risk, I bet it being only a fraction off from 100%, that with these currency turmoils happening the Pound will implode as well - that might be even a good point to get rid of those astronomical debts and restart the game, may be our only chance: so in the eve of these things happening I recommend to do anything possible to strengthen and support national economy and purchase power, attract and create jobs and - that is the most important point - invest big scale into all kinds of education and training very fast and very furious. Why not print money for all the before, now, instead for the moribund banksters and insolvent economies and their never-come-back-spirals? 

Cuts are definitely the wrong way forward and cosmetic corrections, only, at this point; it needs investment into our all future not cuts into old, rubbish balance sheets.

Our leaders are too beautiful, too young and far too much lobby- and shareholder value-oriented to understand the big picture; it is time that even the most ignorant should by now have grasped that there is no debt relief pill where debts are beyond r/belief.:

The Euro will implode and/or be something totally different, soon. The Pound no different! Shortly before that Big Ben will show an even bigger declination, the clock will be much longer and as it happened in all hard times before our hope and trust in God will be much bigger.

Carpe diem!