Originally posted by NoddY
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Two-thirds of EU credit card debt is British
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Milan
Ask yourself what would happen if the US went bankrupt
Cheers
RebeccaChico, what time is it?Comment
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Originally posted by milanbenes[url]"Britons in debt to the tune of £1.13 trillion "
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.Comment
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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.Comment
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