A friend of mine came back from a London seminar this week, with some startling facts and figures. Apparently, the UK was happy to borrow and borrow in the years leading up to the recession, racking up debts to the tune of 1.5 trillion pounds in 2009. Dennis Turner, Chief Economist for HSBC, told his audience that the real issue was the spending and borrowing before the recession. Well, yes, this would make sense. If we’d not borrowed, we wouldn’t owe would we? It would seem we are good to lend to as we pay back our debts and are deemed to be a ‘safe’ country. We don’t riot –…