Guest growl Posted February 3, 2006 Share Posted February 3, 2006 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. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 3, 2006 Share Posted February 3, 2006 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. Its called spending addiction and the dealer, Mr. Brown, is happy to oblige. Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted February 3, 2006 Share Posted February 3, 2006 (edited) 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 February 3, 2006 by OnlyMe Quote Link to comment Share on other sites More sharing options...
Mushroom Posted February 3, 2006 Share Posted February 3, 2006 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. Quote Link to comment Share on other sites More sharing options...
?...! Posted February 3, 2006 Share Posted February 3, 2006 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. Quote Link to comment Share on other sites More sharing options...
Mr Blek Posted February 3, 2006 Share Posted February 3, 2006 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. Quote Link to comment Share on other sites More sharing options...
timmy_30 Posted February 3, 2006 Share Posted February 3, 2006 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 Quote Link to comment Share on other sites More sharing options...
gasket37 Posted February 3, 2006 Share Posted February 3, 2006 (edited) Blimey you should be a journalist at the BBC he is sir. john gieve (new MPC placeman) and i claim my £5 Edited February 3, 2006 by gasket37 Quote Link to comment Share on other sites More sharing options...
benjamin Posted February 3, 2006 Share Posted February 3, 2006 stop whinging, it's only £58 000 000 000 / 90 days = £644 444 444 a day. Quote Link to comment Share on other sites More sharing options...
Julka Posted February 3, 2006 Share Posted February 3, 2006 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!) Quote Link to comment Share on other sites More sharing options...
MarkyB Posted February 3, 2006 Share Posted February 3, 2006 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. 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? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.