Richard Murphy says:
September 29 2016 at 3:36 am
I have a feeling you may need to enhance your understanding: if there is a prospect of perpetual deficit then cash in the bank merely delays default but means continuing is reckless because of the indifference it would show to long term liabilities – and Jersey has ample of them
Jersey is going bust because of a deficit they never close.
The UK should run a permanent deficit because a surplus would be a near criminal idea.
Amazing how the same ideas can repose in the same brain really.