1976 was the year Callaghan's government went cap in hand to the IMF for a four billion dollar loan. That sum today is peanuts thanks to the most insidious tax of all, inflation. I was looking at data earlier on that showed the US national debt has doubled every eight years since 1980. The OP's linked article revolves around debt and inflation. The bubbles created since 2008 caused by rock-bottom interest rates along with Central Banks pumping an estimated 15 trillion USD into the world's financial system in order to delay economic collapse was some achievement, but the implosion can't be far off.
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