With Britain's households now owing £1.5 trillion in mortgages, overdrafts, loans and credit cards, the day of reckoning nears, warns Jeff Randall.
"In 2003, I wrote a piece for the BBC, warning of the debt trap: “British consumers are living in a never-never land of very high personal borrowings. They simply cannot carry on spending more than they are earning without a hard landing.”
HA!!! 2003..... That's when I first started to look at HPC --- and I joined in 2004 -- saying EXACTLY what Good old J Randall is saying now - telling it how it is...... and ANYONE with a brain could have seen all this coming since at least 2003.....
This has been going on for FAR, FAR too long..... And LIAR LOANS are STILL the KEY to all of this - and the most DEPRESSING feature of the UTTER MADNESS of the last 15+ years.....
THANKS NIUE LABOUR - YOU T%SSERS!
See all here: - http://www.telegraph...-time-bomb.html
Edited by eric pebble, 31 October 2011 - 04:52 PM.