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

[BrilloPad]

Why would anyone bother saving? Borrow to the max.

[Paddy]

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.

One of my friends works for the CAB. Most of the people with credited card issues get into debt because they used them for necessities such as counsel tax and electricity. Reality is not the DM and Express.

[shaunbhoy]

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?

[BlasterBates]

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

[scooterscot]

A return to the gold standard soon then. Or altcoin!!

[LondonManc]

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.

[ladymuck]

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.

[scooterscot]

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.

[LondonManc]

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.

[scooterscot]

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.

[LondonManc]

Could be many things, including a growing level of consumer confidence.

[sasguru]

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.