The present activities of the Financial World remind one of the two
ladies of legend who earned a precarious living by taking in each
other's washing or the Ozzlum Bird, which flies in ever decreasing
circles until with a cry of Oozelum and a cloud of feathers it
vanishes up it's own fundament.

We have all confused Money with Real Wealth, especially the tax
gatherers who have enthusiastically backed the Oozelum, collecting
taxes each time it went round.

The result of all this for the UK is that it is "Broke",
The Office of National Statistics has UK assets, as of 2006 (the
latest stats available, and no doubt it'll be less now) as
£6.5trillion. Less residential property (£3.8trillion) leaves
£2.7trillion.

Net debt stands at £600billion, but to include public sector pensions,
PFI, Northern Rock etc takes that figure to £1.8trillion.

Add the £500billion figure that has been bandied around this week as a
guarantee to the banking sector and we get £2.3trillion.

The Burning Our Money blog on the website estimates this to rise to
£6.5trillion if all commericial bank debt is guaranteed. i.e Credit
Card Debt etc.

It's a depressing picture, do take a look at this:
http://tpa.typepad.com/waste/2008/10/maxxed.html –

Real Wealth comes from harvesting or mining, plus human effort.
Harvesting areas include the Land, The Oceans, and the Sky. Mining can
be by Land or Sea.

So to start collecting Real Wealth we must rapidly set on the Energy
Harvest. Those who advocate Nuclear should remember that it, central
fossil power stations, and large wind farms are preferred by
Politicians as they can tax the output. Large wind farms are probably
uneconomic in principle as compared to many other Renewable
Engineering Projects

Trouble is that the UK Government has done little or nothing to set on
this Harvest other than form a new department for Climate Change and
Energy headed by someone who has no apparent knowledge or connection
with Energy or Harvesting, and may well be himself – and presiding
over- one of a tream of scientific analphabets.

THEY MOAN ABOUT A FORTHCOMING DEPRESSION.
BUT WITH MOST UK DWELLINGS LACKING SOLAR WATER HEATING, SOLAR PANELS,
AND HEAT PUMPS. TIDAL POWER UNDEVELOPED. WIND POWER TOO COSTLY.
BIOFUELS FROM CO2 UNDEVELOPED ETC. HOW CAN WE HAVE A DEPRESSION -
OTHER THAN THROUGH FAILURE OF POLITICAL AND PRIVATE WILL TO TAKE
ADVANTAGE OF THE VAST MANUFACTURING, INSTALLATION AND OPERATIONAL
OPPORTUNITIES ON OFFER FROM RENEWABLE ENGINEERING ????
IT IS COUNTER INFLATIONARY TOO !!
Regards
Ferrand www.grunweb.org.uk
Ps feedback appreciated, especially on asset and debt data for other
countries.