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Two-thirds of EU credit card debt is British

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    #11
    Originally posted by NoddY
    America currently pays for cheap Chinese imports in anything but cash - it constantly defers payment using options / shares / stocks. This works, so long as the dollar is 'good' and the US is 'good' for its debts.
    Which is why the US will ensure that the dollar stays good, even if it costs a war or two (shame on that evil Saddam Hussein, demanding euros instead of dollars for his oil!)

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      #12
      Milan

      Ask yourself what would happen if the US went bankrupt

      Cheers

      Rebecca
      Chico, what time is it?

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        #13
        Originally posted by milanbenes
        [url]"Britons in debt to the tune of £1.13 trillion "
        And rising.

        It will come as a shock when they get to their sixties and realise they won't be able to fund retirement - and in many cases they are still in debt!

        When I were a lad there was a growing culture of paying off debts and investing in PEPs and stuff, to build up wealth. That has dissipated over the past few years.

        People don't think about their future wealth any more. And as there are so many others in the same boat, they feel some sort of comfort in carrying on like it.

        Perhaps a painful recession would be good in the long run, because it might move attitudes in the other direction.

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          #14
          or perhaps because the masses all in debt expect as has been the case in the past that as so many are affected the government will bail them out perhaps drawing off wealth from those who were greedy/rich (delete as applicable) enough to save during their life and all in the name of fairness

          careful with your savings, they'll have it off you in the future

          Milan.

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