If you thought personal and Government debt was not out of control with the Tories..

homelessskilledworker

http://www.telegraph.co.uk/finance/economics/9501874/Despite-the-crisis-Bri


Think Again!!


In the City, they call it a “false market”. This occurs when erroneous information, often deliberately circulated, becomes the basis for investors’ decisions. The result is illogical choices, as buyers and sellers, who believe they are behaving rationally, trade on deception dressed up as news.
Looking beyond the Square Mile to the wider British economy, there is mounting evidence that a false market is operating in our appreciation of consumer debt, state borrowing and the viability of pensions and healthcare. A baleful gap has opened up between what voters think is happening and what’s really going on. This is not surprising when so many in high office appear equally baffled. Drop into the mix a dollop of deceit from unscrupulous politicians, trade unions and financial services providers, and the upshot is widespread misunderstanding and a legacy of misery for future generations.tons-are-still-spending-like-drunkards.html

elegant_elephant

Link in original post didn't work. Is it this story?

http://www.telegraph.co.uk/finance/economics/9501874/Despite-the-crisis-Britons-are-still-spending-like-drunkards.html

BACKFRMTHEEDGE

elegant_elephant wrote: »

Link in original post didn't work. Is it this story?

http://www.telegraph.co.uk/finance/economics/9501874/Despite-the-crisis-Britons-are-still-spending-like-drunkards.html

Good article.

worldtraveller

An interesting article that is basically saying what many have been warning of for years.

The "Me, me ,me", "I want it now and I don't care how I'll pay for it" generation is still going strong!

CLAPTON

worldtraveller wrote: »

An interesting article that is basically saying what many have been warning of for years.

The "Me, me ,me", "I want it now and I don't care how I'll pay for it" generation is still going strong!

it's called democracy and personal freedom... disgusting I know but there you go.

ILW

CLAPTON wrote: »

it's called democracy and personal freedom... disgusting I know but there you go.

And it is governments job to influence and control personal freedoms if the are dangerous to others or anti social.

Loughton_Monkey

The reason, as Disraeli noted, is that statesmen think of the next generation, whereas politicians care only about the next election. Those seeking power keep spending to buy approbation and then send the bill to people who are not on the electoral register: those too young to vote, tomorrow’s taxpayers.

Politicians only thinking of the next election rather than the good of the next generation?

Whoever would believe such a thing?

purch

If you thought personal and Government debt was no un control with the Tories..

I have read and re-read the thread title and still cannot make head nor tail of that gibberish !!!

I need to get drunk :eek:

shortchanged_2

Well when we've created a society with loads of bail out options, sue for this and that, fall backs such as SMI it's no surprise that many people don't really give a sh*t about high levels of personal debt when it is too easy to get help with mistakes.
Uncaring....maybe, but people really need to be more responsible for their own actions and the choices they make.

Generali

Hmm. Britons are spending like drunkards having reduced debt from 160% of disposable income to 150% despite inflation exceeding wage rises for the past few years.

The profligacy of the British consumer is based on a prediction from the OBR. The headline should really read, 'Forecasters have no faith in British consumers to continue paying down debt'.

My suspicion is that they have this very wrong: with Europe likely to get worse before it gets better and the UK Government being forced to stop increasing debt faster than GDP growth at some point (a mathematical certainty) I reckon that consumers will continue to pay down debt or default.

StevieJ

Is this the one that does George Formby impressions?