'Western governments' reliance on debt now is extraordinary.
The G7 countries have, on average, 50 percent more debt in 2010 than in 2007. This is an average figure: the below, using IMF data, charts how much debt they have taken on. No prizes for guessing which country raises the average:
You can read more, much more, in Fraser Nelson's piece for The Spectator and in Johan Norberg's piece entitled 'The great debt bubble of 2011' - vert scary stuff!
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