Dear Mr(s) Credit Rator, Part II

In my previous posting dd 16/01, I forgot to mention some important leverage factors as well. I therefore take the privilege to give you an update with new numbers, taken from a very recent McKinsey study on global debt and debt deleveraging

The following chart gives you the facts on the composition of total debt across main economies. And again, the UK's AAA status is far from self evident, this in the total ranking and relative against the so-called euro-zone countries in despair

And to give you some additional evidence, we would very much like to add the following illustrations taken from the same report :

To conclude, I would like to quote some one from the blog sphere last Friday :

"So the UK is still AAA. I nevertheless found this alarmingly interesting from James Hall in the Telegraph : 1 million people take out emergency loans to pay mortgage and 6 million people have only 5 days of savings. So 6 million will be unable to survive if they are stopped being paid, such are the low levels of savings among Britons right now. When news articles like these pop up, it indicates that there is more going on than just trouble in the City of London"

Yours Sincerely