Timmy ElsewhereFebruary 14, 2010 Tim WorstallTimmy Elsewhere3 CommentsAt the ASI. We really might have a debt crisis coming…. previousBook TipnextGFS report: tax losses due to trade fiddles. Sorry, valueless report 3 thoughts on “Timmy Elsewhere” Monty February 14, 2010 at 9:38 pm The cohort approaching retirement also contain the last vestiges of the old fashioned work and self-reliance ethic. I suspect there is a downward step function in our national future, when this workforce retires. And the only way to sort out the mess will be to write off an entire generation, pick up the children, and start again. Matthew February 14, 2010 at 10:01 pm I don’t think that’s true. Those aged 25-35 produce more goods and services today than those aged 55-65 did when they were that age. Matthew February 14, 2010 at 10:03 pm I wonder also if the Barclay’s study into default rates take into account the large amount of UK debt that is held domestically, and (as you hint at) the pressures this gives on not defaulting. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.