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Fromage Frais

Debt is wealth and giving debt is generosity

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Hi All,

On of the issues I am having with the mentality of society today.

Debt being masqueraded as altruism 

The HTB scheme for example placing young people in debt and the stories of helping ones children get a mortgage so they can buy the family home for an inflated value etc.

Even in business I saw this story in my local paper


"This Norfolk couple have just given their £7.5m restaurant to their staff "

"They have now set up an employee ownership trust which has bought the restaurant from them. Over the next five years, it will repay its loans using Arbuckles profits, after which 51pc of the business will be owned by the employees as a collective.

The remaining 49pc will be held by individual employees and managers personally selected by the couple for having helped them to turn the diner into one of the area’s most popular restaurants."

"Mr and Mrs Murphy do not hide the fact that they will do well from the deal – they will ultimately be paid for the restaurant – and that the tax incentives offered by the government for employee ownership make it an attractive model."

This story even got on the BBC without any investigation.

On companies house the actual restaurants are listed as leasehold and possibly owned by a pension?

Just amazes me these days load people up with debt and they are so happy for it.

Edited by Fromage Frais

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  • 144 Brexit, House prices and Summer 2020

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      • down 5% +
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