I think in a few decades our children and grandchildren will be reading about the first Great Depression of the 21st Century.

In the US, at the peak of the Depression in the 1930's the unemployment rate was about 25%. Even though the official unemployment rate is about 7-8%, the 'real' figure (which includes those who are under employed, for example) is closer to about 17-18%. In certain areas such as parts of Wales and Scotland where unemployment is worse, it would resemble the figures from the 1930's. Even the official unemployment rate for people aged 16-24 is just under 20%.

Another barometer is child poverty. The UK still lags behind other developed countries with about 30% of children living below the breadline.

The national debt in 'real' figures (which includes things such as PFI and future pension payments), according to the Tax Payers' Alliance website is a staggering £7-8 TRILLION! I don't even know how many zeros that is. That is around £300 000 per household.