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Bailouts have cost £4473 billion worldwide so far

News that the total amount of worldwide tax payer's money used to refloat ailing economies has reached £4473 billion has left many observers shocked and stunned. The amount of money wasted has been absolutely unbelievable and while there is no one party to blame for the entire mess, governments and the financial sector need to take much of the blame.

The amounts in question are astronomical to say the least but when you consider that total UK governmental debt has topped the £500 billion mark it starts to show how much of a mess the UK is in and the fact there is no quick fix. While having to fight with the rising cost of living, increased taxes and a reduction in job security it is a complete travesty of justice that their money is being used in this way.

Government around the world can blame the financial sector but at the end of the day it was the strength of economies around the world which allowed current governments to be voted in, a strength which in 99% of cases is based upon the financial sector. The truth is that they could have pulled the plug earlier on those taking excessive risks but chose not to.

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