Interesting story......

[Seahorse]

Don't forget Vigilante debt purchasers.

 

I'll have a think Sosumi, and drop you an email. I'll be travelling for the next 2 or 3 days, but I should hopefully have plenty of time on my hands once I get back down to earth.

[dannyboy660]

• The domestic saving ratio, which measures how much of their incomes people are setting aside for the future, excluding pension contributions, remained deep in negative territory. At minus 1pc, it means families are borrowing in order to fund their everyday lifestyles - a highly unusual situation replicated in the late 1980s, before the last property crash.

• The amount families and businesses are having to set aside for mortgage and debt payments hit the highest level since the early 1990s, in the latest sign that the record mountain of UK lending is causing serious pain. The household debt service burden rose to 13.6pc of income - the highest level since 1991, while the equivalent measure for non-financial businesses hit 28.8pc of their profits - the highest since 1992.

• The Government's finances dipped even deeper into the red, as the Chancellor suffered a record shortfall on his budget in November. The ONS said public-sector net borrowing was £11.2bn - the biggest since comparable records began in 1993. It brings the total lending so far this financial year to £36.2bn, and raising the likelihood that Chancellor Alistair Darling will overshoot his £38bn forecast this year.

 

 

 

Borrowed from the Telegraph. Debt fears push sterling to 20 month low - Telegraph

I hope they don't mind.

 

Looks like we're all in the same boat after all.

[Newborn]

I started a thread earlier on how the Americans call any sold on debt 'Zombie-Debt'. This is because it keeps resurrecting itself at odd intervals with no seeming control behind it.

If you google it you will see the term is in quite wide use in the US and, more importantly, is seen as a subject for concern.

On the thread are examples of how this could be used as a 'sound-bite'.

 

Newborn

[Seahorse]

If the Chancellor can't manage his finances, how can anyone criticise us less knowledgable peeps? How are we supposed to be able to use a crystal ball when the government obviously don't have that facility either?

[babybear39]

If the Chancellor can't manage his finances, how can anyone criticise us less knowledgable peeps? How are we supposed to be able to use a crystal ball when the government obviously don't have that facility either?

 

My thoughts exactly