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UK credit card and loan debt rises at the fastest rate since 2005

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    UK credit card and loan debt rises at the fastest rate since 2005

    British shoppers splurge as debt grows at fastest pace since boom year of 2005 

    Well that explains the UK's GDP "growth" rate.
    We all know what follows a debt fuelled splurge don't we?
    Or perhaps not, since at least 52% of the population are thick as pig-tulip.
    Hard Brexit now!
    #prayfornodeal

    #2
    Could be many things, including a growing level of consumer confidence.
    The greatest trick the devil ever pulled was convincing the world that he didn't exist

    Comment


      #3
      Throwing caution to a head strong wind. The basic facts of an impossible debt for both state and households have escaped conception and somehow that now means it does not matter.
      "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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        #4
        Originally posted by scooterscot View Post
        Throwing caution to a head strong wind. The basic facts of an impossible debt for both state and households have escaped conception and somehow that now means it does not matter.
        The world's total debt is more than the money on the planet. Until that is accepted and there is some sort of unilateral debt amnesty, we're on a gentle spiral into a debt black hole. The amnesty simply needs to arrive before we cross the event horizon.
        The greatest trick the devil ever pulled was convincing the world that he didn't exist

        Comment


          #5
          Originally posted by LondonManc View Post
          The world's total debt is more than the money on the planet. Until that is accepted and there is some sort of unilateral debt amnesty, we're on a gentle spiral into a debt black hole. The amnesty simply needs to arrive before we cross the event horizon.
          Speak for yourself, but I'm without debt. Guess I'm not part of the world.
          "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

          Comment


            #6
            Originally posted by scooterscot View Post
            Speak for yourself, but I'm without debt. Guess I'm not part of the world.
            But you will be affected by the debt of others, one way or another.

            Comment


              #7
              Originally posted by scooterscot View Post
              Speak for yourself, but I'm without debt. Guess I'm not part of the world.
              Most people in the UK with a house bought at least ten years ago are without debt. The world has a net debt greater than then money that exists though.

              A bank lends £1m to company A. Company A lends £1m to company B. Company B lends said £1m to company C. £3m of debt, £1m of money. Defaults and slow payments cause the complications.
              The greatest trick the devil ever pulled was convincing the world that he didn't exist

              Comment


                #8
                A return to the gold standard soon then. Or altcoin!!
                "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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                  #9
                  Well it looks like the EU will be insulated from the effects once it becomes a problem.

                  I'm alright Jack

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                    #10
                    Originally posted by scooterscot View Post
                    Speak for yourself, but I'm without debt. Guess I'm not part of the world.
                    The evidence seems irrefutable.

                    But which alternate galaxy did you inhabit prior to coming here and proving to us all that aliens ain't all that bright after all?

                    “The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”

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