SunnySideUp

The total amount of personal debt in the UK has fallen for the first time since records began in 1993, the Bank of England has said.

Personal borrowing fell by £600m in July, taking the total owed by individuals down to £1.457 trillion.

There was a drop in both mortgage debt and other forms of borrowing such as bank loans.

Quite clearly there is money sloshing about in peoples pockets .... I blame Labour for this wealth creation!!

yoza

£1.457 Trillion....half of that is mine.

And no I cant pay it off, just yet.

Im happy though, got everything I want right now, when I want it.

SJ_Skyline

I've never felt wealthier, even the butler's wearing silk PJs. Thank you Gordon and Tony

jasey

Yeah yeah - why don't you start a thread on how your wonderful Labia party has handed over £200 Billion to the bankers and then put up the price of petrol so we can all fund the *******.

Better still - start one on the small business struggling even more because people are $hitting themselves too much .


I suspect much of this drop has been caused by said bankers no longer lending to folk who are now unemployed

Puff The Magic Wagon!

iTrader: (2)

Listening to the economists on R4 this morning and they said the fact that people are paying off their debts/saving is a BAD THING!!!

The reason is that the government are trying to encourage people to SPEND money in order to kick-start the economy.

Well done Labour - another fail...

David Lock

I can see folk want to keep some money for a rainy day. But if they just use it to pay off a bit of their mortgage they will never have access to that in the future.

So if I had any spare dosh I would buy some Krugerrands or keep it in a bank, even with lousy interest rates currently on offer. dl

bigsinky

the same inane, sychophantic, ramblings from pete, what a surprise. TROLL!!!!

Snazy

You read my mind.

TelBoy

Exactly. This pattern is borne out of the deep insecurity being felt by many people now.

Not exactly a triumph on any level. But still the threads keep coming, from a banned user.

Midlife......

iTrader: (2)

pete

For a Government trying to spend it's way out of a recession, saving leads to more recession...

Keynesian economics - Wikipedia, the free encyclopedia

Shaun

Leslie

Is it a good idea then, during periods when the economy appears to be doing well, to keep overborrowiing and to spend the GNP on items which are part of a government's mantra but which do nothing to improve the lot of the electorate or the country in general? Is it a better idea to reduce the country's debt instead and be sensible about government spending, especially if the goverment's fiscal authority is too weak and incompetent to control those who are taking the rest of us for a ride and eventually ruining the economy?

Les

FlightMan

Pete's grasp of economics is at least as good as Gordon's!

mamoon2

I've said this before and i'll say it again.

People on benefits should have to work in a government run factory which makes things for export. The workers would get 1.5 x their dole plus the usual housing benefits. The technically "Free" labour would enable us as a country to create goods cheaply and export abroad, thus paying off our huge debt.

jasey

There's a much easier solution.

People on benefits lose the right to vote.

Job's a good un - no more Labia - EVER

rossyboy

iTrader: (8)

Ah you mean communism...

http://img.dailymail.co.uk/i/pix/200...DM_800x613.jpg

Dont really disagree though!

Leslie

What makes you think they bother to vote?

Les

jasey

If they aint voting Labia then who the **** is

jonc

Problem is what would we export and is there a demand for it? The unemployed is expect to hit 3 million next year. Where are we going to build the factories to make use of that many people? Who is going to train them and how much will it cost the tax payers to implement?

Personally I think people on benefit should receive food/fuel vouchers enough for necessities instead of cash and would be on a sliding scale where it will reduce the longer they are out of work. Next stage on from that would that these vouchers are only redeemable at Government sponsored outlets.

But yes agree with the notion that paying off your debts is not necessarily a good thing for the economy since no money is being spent.

tanyatriangles

iTrader: (2)

Talking to a guy who hada factory here, he told me that MOST of the lost manufacturing jobs will NEVER return to the UK

Well done, Lying Labour, you've finished off what Maggie started.

chocolate_o_brian

iTrader: (22)

Agree re. food vouchers etc. I would have been better off in the last 18 months over some 20 something fat chav pig with 12 kids up t'street

mamoon2

Plenty of empty premises in this country. We could set up an arms factory pretty easily and sell to the US. We could make any type of goods and undercut anyone else in europe because of the cheap labour. We could bring manufacturing companies into the country for that reason.

tanyatriangles

iTrader: (2)

I wish! Our manufacturing industries are going to the wall daily, because they STILL can't borrow money, and those jobs will NEVER return to the UK.

My eldest works a a welder/plater in HOLLAND ffs, since there were no jobs in the UK. How the DUTCH get the jobs I dunno, but there we are.

mamoon2

So are you telling me that a big manufacturing company would not locate themselves in the UK if the government promised staff they could pay peanuts?

This would get rid of the bill for benefits from the Taxpayer leaving the money to pay off debt ect...

tanyatriangles

iTrader: (2)

No mate, I'm telling you what's happening NOW, in real life, companies going to the wall because the banks STILL won't lend money, the government meanwhile holds it's hands up and whines, "What can WE do?" and the whole lot collapses.

Do you REALLY think manufacturing can regain the ground it has lost under those conditions, cheap labour or no? They STILL need the loans to keep going, short term, and the banks would rather pay big bonuses to the "succesful" executives.

And Lying Labour? Well what CAN they do? When they are in bed f*cking the bankers up their *rses? Nowt, which is just what they ARE doing

jonc

A few things to consider before setting up a Government sponsored sweat shop:
* minimum wage legislation
* demographic of the unemployed
* competition, monopolies and ethics
* unfair advantage against existing private firms producing similar products and could themselves be put out of business
* US have their own and a more mature arms industry and is very heavily regulated for obvious reasons
* chavs are "unskilled" and would still avoid lifting a finger to do a full days work and would you buy anything that they've made!

mrtheedge2u2

TT... how is you son finding it in Den Haag??

tanyatriangles

iTrader: (2)

He's not in Den Haag, that's where I thought he was going when he described it before he knew the name of the place. He's in Zierikzee, living in a hotel in the north of the town, which is all 13th century and cobbled streets, and he can see a windmill out of his hotel window.

Maps of the world, street map search - powered by Multimap

He likes it fine, once it got busy after winter, when it was a bit disappointing, it turns out it's a resort in summer, so there's loads going on

Coffin Dodger

What's Lewis been banned for this time

Isn't it about time we were shot of the nasty little troll once and for all

Leslie

I imagine that the only way to do that is to set up industrial manufacturing firms which undercut everyone else for wages, and no one here would work for that kind of money!

Les