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58 Billion In Last Two To Three Months?

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I've just been looking at the figure for overall personal debt in this country. Now in the summer it was 1.1 Billion now after Christmas it is 1,158 Billion.

Does that mean that 58 Billion has been spent in the last two to three months, in other words in the lead up to Christmas. Have I got my maths wrong. Is that really the figure, and if so on what?

Because the retail sector has been moaning about people not spending. That is the high street retail sector. That tells me that it has been spent on holidays and the Internet.

But still if the amount is right, then it shows that we still have an appetite for debt.

I just don't get it. :huh:

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I've just been looking at the figure for overall personal debt in this country. Now in the summer it was 1.1 Billion now after Christmas it is 1,158 Billion.

Does that mean that 58 Billion has been spent in the last two to three months, in other words in the lead up to Christmas. Have I got my maths wrong. Is that really the figure, and if so on what?

Because the retail sector has been moaning about people not spending. That is the high street retail sector. That tells me that it has been spent on holidays and the Internet.

But still if the amount is right, then it shows that we still have an appetite for debt.

I just don't get it. :huh:

Its called spending addiction and the dealer, Mr. Brown, is happy to oblige.

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Yes that is right.

Most of it on land values on overpriced housing.

If the BOE think they have done the economy a favour by dropping rates in the summer they are severely deluded, the rate at which companies are leaving these shores for cheaper places to operate if anything seems to be increasing. Even the companies that are expanding are finding newer/larger premises prohibitive and in this compeittive world it is expand or die.

Edited by OnlyMe

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Debt is good, it shows people have confidence in the future and are willing to borrow because they know their jobs are secure and that the UK Economy will continue on it's path of steady controlled growth under the guiding hand of the best Chancellor in History.

:)

Gissa job Gordon.

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Debt is good, it shows people have confidence in the future and are willing to borrow because they know their jobs are secure and that the UK Economy will continue on it's path

You know, I bet there was truth in that before AG's retirement party.

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We're in the debt fuelled economy. What people fail to realise is that debt has to be repaid at some point.

Muhammad Ali put it best when he fough Joe Frazie in the 'Thrilla in Manilla' over a gruesome 14 rounds.

"It was close to death. I had to reach down and borrow from tomorrow".

Indeed. We all know what state he and Frazier are in now.

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Debt is good, it shows people have confidence in the future and are willing to borrow because they know their jobs are secure and that the UK Economy will continue on it's path of steady controlled growth under the guiding hand of the best Chancellor in History.

:)

Gissa job Gordon.

Blimey you should be a journalist at the BBC ;)

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Now in the summer it was 1.1 Billion now after Christmas it is 1,158 Billion.

Does that mean that 58 Billion has been spent in the last two to three months, in other words in the lead up to Christmas. Have I got my maths wrong. Is that really the figure, and if so on what?

i'm afraid not. 1,158 - 1.1 = 1,156.9 Billion (much more impressive!) ;)

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I've just been looking at the figure for overall personal debt in this country. Now in the summer it was 1.1 Billion now after Christmas it is 1,158 Billion.

Does that mean that 58 Billion has been spent in the last two to three months, in other words in the lead up to Christmas. Have I got my maths wrong. Is that really the figure, and if so on what?

Because the retail sector has been moaning about people not spending. That is the high street retail sector. That tells me that it has been spent on holidays and the Internet.

But still if the amount is right, then it shows that we still have an appetite for debt.

I just don't get it. :huh:

is it not just interest on the debt? showing people spent there repayments on xmas pressies, rather than reducing the balances!

Increasing debt, and this money is not going into the economy!... banks are getting rich, fast!... surely!

How hard might the banks fall after this correction thou?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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