5 October

$152 trillion is a lot of money - that's the world debt. But...two-thirds of this is private debt. That's the big story about debt and always has been, politicians who make out debt is a government problem (the ones who say we "live beyond our means") have another agenda, which is just to smash governments. Often they have a vested interest, good friends in the banking industry for example. Banks and private industry, particularly the financial sector, are responsible for the overwhelming majority of the world's debt.