Recommended reading: It provides a comprehensive, detailed and disturbing review of the events of the past 12 months and can be found at http://www.lrb.co.uk/v31/n10/lanc01_.html.

Be warned: it’s a seriously long article with some tough points about what’s happened in the UK, to the UK and to its citizens. But it’s a seriously good introduction to balance sheets, and that weird thing known as ‘Equity’.

Well worth the read, but set aside a good long while!