The left-field threat to Europe ...

[Old Greg]

Yes that must explain explosion in pay day companies like Wonga offering "Representative APR 4214%"

I've already pointed out the difference between existing debt and new borrowing. Do you want to have a little think about it and then come back with some examples to show that you've understood it?

[sasguru]

Keep going Atw, we might bring on a stroke or a heart attack.

Laughter is good for one. Keep going.

[doodab]

Yes that must explain explosion in pay day companies like Wonga offering "Representative APR 4214%"

Surely that's just the market pricing in a bout of hyperinflation?

A few months of 40000% inflation and all our problems will be solved.

[AtW]

Did Greece, Spain and Portugal suddenly develop a a powerful industrial economy over the last 50 years?

No and that's the point - they are at not much different level compared to 50 years ago.

Now let's compare UK before WW2 and now - it has gone downhill massively in many espects, even the Royal Navy now orders aircraft carriers (or carrier as it can't afford two) from the French!

[ThomasSoerensen]

SAS and ATW
sitting in a tree
K.I.S.S.I.N.G
First comes the love
Then comes the Marriage
then comes the baby
then the baby carriage


as sung in a very high pitched voice by my 4 year old daughter

[sasguru]

Do you want to have a little think about it ?

I fear you're asking too much

[sasguru]

No and that's the point - they are at not much different level compared to 50 years ago.

Now let's compare UK before WW2 and now - it has gone downhill massively in many espects, even the Royal Navy now orders aircraft carriers (or carrier as it can't afford two) from the French!

60 years ago the Debt/GDP ratio was twice as high, there was rationing, many homes had outside loos, double glazing was rare.
But yes the rest of the world was an even bigger tuliphole,so we were top dog.

PS I think you should find an MD with a brain for the company you started before its too late. I'm deadly serious.

HTH

[DimPrawn]

60 years ago the Debt/GDP ratio was twice as high, there was rationing, many homes had outside loos, double glazing was rare.
.

HTH

You not been oop north recently 'ave thee?

[AtW]

I've already pointed out the difference between existing debt and new borrowing.

People who could afford existing debt have now less disposable income due to inflation on items that can't be avoided - fuel, food etc.

This means their ability to service existing debt is under big stress, they are effectively forced to borrow again to manage it and that costs them more money.

Their existing debt isn't getting cheaper at all - unless it was linked to BoE rate.

[Old Greg]

People who could afford existing debt have now less disposable income due to inflation on items that can't be avoided - fuel, food etc.

This means their ability to service existing debt is under big stress, they are effectively forced to borrow again to manage it and that costs them more money.

Their existing debt isn't getting cheaper at all - unless it was linked to BoE rate.

Their existing debt is indeed getting cheaper. But their ability to service it is not improving. Now, how about that little think?