Uk Debt Highest In Human History

[BrilloPad]

Bring back thatcher I say

Seriously too

WHS

[HairyArsedBloke]

I blame Thatcher for the great depressionof the 30's ...

What about Bubonic plague? That has got to be one of her's. Then there is the K-T event. There is no way that she can get away with that one.

[Diver]

Bring back thatcher I say

Seriously too

[tay]

"Families in the UK now owe a record 173pc of their incomes in debts, official figures have shown."

FFS

Did nobody ever tell these imbeciles that they shouldn't buy it if they can't afford it?

Oh no, of course, Margaret Thatcher and her cronies promoted the idea of getting into debt (oh sorry, "leveraging credit facilities") because it made it seem as if there was an economic recovery when there wasn't

And before you all start on me, I know that this lot do the same... but it was Thatcher that pulled that stunt first, and don't you try to deny it unless you came through 1988 - 89 without having negative equity in your property.

(Those who still lived with Mummy and Daddy back then don't have the experience to qualify them to express an opinion.)

Plus ça change, plus ça ne change pas, et cetera, ad nauseam, ad infinitum.

I blame Thatcher for the great depressionof the 30's, and the economic woes of the 70's, and the 90's obviously.. and now. Its clearly all her fault. Not to mention the fact that these were global recessions, but Thathcher was still to blame.

[BrilloPad]

I can understand borrowing money for a house or car - large capital purchases. But for petrol?

What happened to days when credit was called the "never never"?

[OwlHoot]

look at this

http://www.telegraph.co.uk/money/mai.../cndebt128.xml

Maybe "highest in recorded history" is exaggerating a bit. Paying the ransom for the release of Richard the Lionheart in the 1190s cost three times the usual annual tax revenues of the country, and everyone was taxed a quarter of the value of their goods and chattels to raise the funds required!

P.S If he'd known what a thing the Austrians have about locking people in cellars, perhaps he wouldn't have travelled through there on his way back from the crusades.

[Diver]

Same old same old

[Cyberman]

"Families in the UK now owe a record 173pc of their incomes in debts, official figures have shown."

FFS

Did nobody ever tell these imbeciles that they shouldn't buy it if they can't afford it?

Oh no, of course, Margaret Thatcher and her cronies promoted the idea of getting into debt (oh sorry, "leveraging credit facilities") because it made it seem as if there was an economic recovery when there wasn't

And before you all start on me, I know that this lot do the same... but it was Thatcher that pulled that stunt first, and don't you try to deny it unless you came through 1988 - 89 without having negative equity in your property.

(Those who still lived with Mummy and Daddy back then don't have the experience to qualify them to express an opinion.)

Plus ça change, plus ça ne change pas, et cetera, ad nauseam, ad infinitum.

Without debt, most of us would not have been able to purchase our houses to make thousands in equity, and the country would not have been so prosperous over the past few decades. Levels of debt were actually well controlled under Thatcher, and I for instance had to put down a 7,000 pound deposit on my first two-bed terraced house at 37,500 pounds.

The main cause of our current woes is that banks were allowed to lend vastly above their capital ratios by selling SIVs(structured investment vehicles) onto other banks, thus breaking all lending controls, especially in the US. This should have been for the FSA/ BofE / HMG to monitor and control but they failed miserably. This has happened squarely under New Lie's regime and they quite rightly will carry the can at the next election.

[OwlHoot]

That means deep fookin poopie.

Damn right, and I wonder what proportion of that debt is to foreign creditors.

[TwinGoldDaleks]

We stowed away on the busybody's tardis and found this:

http://forums.contractoruk.com/general/3855-economic-crash-uk-inevitable.html

[NickFitz]

"Families in the UK now owe a record 173pc of their incomes in debts, official figures have shown."

FFS

Did nobody ever tell these imbeciles that they shouldn't buy it if they can't afford it?

Oh no, of course, Margaret Thatcher and her cronies promoted the idea of getting into debt (oh sorry, "leveraging credit facilities") because it made it seem as if there was an economic recovery when there wasn't

And before you all start on me, I know that this lot do the same... but it was Thatcher that pulled that stunt first, and don't you try to deny it unless you came through 1988 - 89 without having negative equity in your property.

(Those who still lived with Mummy and Daddy back then don't have the experience to qualify them to express an opinion.)

Plus ça change, plus ça ne change pas, et cetera, ad nauseam, ad infinitum.

[RichardCranium]

Doomed!

look at this

http://www.telegraph.co.uk/money/mai.../cndebt128.xml

That means deep fookin poopie.

[sappatz]

look at this

http://www.telegraph.co.uk/money/mai.../cndebt128.xml