Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Telegraph Interviews Vicky Pollard On Issue Of Debt

Recommended Posts

http://www.telegraph.co.uk/money/main.jhtm...09/ccjeff09.xml

Who do we blame for all this debt? It can't be us, surely

By Jeff Randall

(Filed: 09/08/2006)

Exasperated bank manager: "Ms Pollard, despite having no job, you've run up debts of £50,000 on two dozen credit cards. This considerable sum has been squandered on video games, contraband cigarettes, a wardrobe of genuine designer fakes and three weeks of hard drinking in Torrevieja."
advertisement
Vicky Pollard: "Yeah, but no but... wot 'appened was it wasn't me, it was them banks, all their cheap plastic. Don't go giving me the evils. Lloyds HIV made me 'ave it. NatWestlife told me I must. Anyway, Destiny's got loads more loans than me. She bought Posh Spice's knickers. I ain't never done nuffink."
..../
What's surprising is that most of them are not illiterate, innumerate dunces, cut off from reality by ignorance. They're citizens with decent jobs, who know the difference between Arthur and Martha.
They're in deep water, however, after being swept away by a riptide of complacency. For many, paying back debt is no longer a necessity; it's not even a priority. Going bankrupt is now a lifestyle option.
..../

The miracle economy now has endemic bankruptcy as a feature. Gordon, what have you done mate? :o

Share this post


Link to post
Share on other sites

People are going broke and inspite of the fact that many of them 'deserve it', many of them dont.

The unstoppable credit selling machine of banking has reduced a once noble and organised working class to slaves.

This is not a good thing.

PS - did you know that you cannot foreclose on a serving American soldiers debt?

If someone is serving in the military, interest rates on loans are restricted and debts cannot be called in for settlement.

So if you have big debt problems join the army.

Best recruiting tool I ever heard of...

"Common sense says its by design" - Fugazi

Share this post


Link to post
Share on other sites

The miracle economy now has endemic bankruptcy as a feature. Gordon, what have you done mate? :o

Makes perfect sense: bankrupt voters deserve (and get) a bankrupt government. :lol::D:P

Share this post


Link to post
Share on other sites

http://www.telegraph.co.uk/money/main.jhtm...17/cndebt17.xml

Government moves to tackle debt mountain

By Grant Ringshaw, Financial Services Editor

(Filed: 17/08/2006)

The Government has stepped in to help tackle Britain's £1,200bn consumer debt mountain,
unveiling plans to fund more free advice and improve consumers' financial knowledge.
The plans, outlined in a cross-Government report Tackling Over-Indebtedness 2006, include a commitment to introduce basic financial skills into the GCSE maths curriculum in England from 2008 and £51m to fund 500 more staff offering free advice to people who are struggling to pay off massive debts. The National Debtline and Consumer Credit Counselling Service will also be expanded.
Spiralling debt levels threaten to ruin tens of thousands of households
The moves come after growing concerns that spiralling debt levels, a surge in utility bills and the recent rise in interest rates, are
threatening to ruin tens of thousands of British households.
Earlier this month, the Insolvency Service said a record 26,021 borrowers filed for bankruptcy between April and June. Two months ago Debt Free Direct, the debt adviser, estimated that 2 million people were facing irreversible financial problems while a recent report from the Financial Services Authority said almost 3 million consumers face a constant struggle to keep up debt repayments.
The UK's five biggest
banks have been hit by soaring bad debts
, collectively losing £3.25bn from bad loans in the first six months of the year.

The "Miracle Economy" discovers that HPI-MEW does not create wealth from the air but from DEBT. The government would do better to end irresponsible lending and the culture of debt that is encouraged by ramping HPI.

The seeds of Great Crash 2 are beginning to sprout and the plants they are producing are weeds that will choke the lifeblood of the economy.

Share this post


Link to post
Share on other sites

christ! a more concise example of the old adage 'shutting the gate after the horse has bolted' i have yet to see...

how the hell is 'free advice' going to help people who have run up 30 grand on credit cards? is it going to help them earn an extra £2000 a month? they don't need advice, they need a goddamned lifebelt! :(

Share this post


Link to post
Share on other sites

Once friendly press starting to publish attacks on GB's policies:

http://business.guardian.co.uk/story/0,,1851644,00.html

Government accused of failing victims of rising insolvency

Phillip Inman

Thursday August 17, 2006

The Guardian

Anti-poverty campaigners yesterday accused the government of complacency in the face of rising rates of personal insolvency after ministers said Whitehall departments were "making progress" in efforts to combat growing indebtedness.
In a report "Tackling over-indebtedness", the government said initiatives to increase the number of debt advisers and put illegal loan sharks out of business were under way, coupled with education programmes for adults and children.
...../
Personal insolvencies are expected to hit 100,000 this year for the first time, after a 66% rise in the number of applications in the first half of this year. The Bank of England's decision to raise interest rates, coupled with rising energy bills, is likely to make the situation worse.

Ironic really when it was the Miracle Economy that pushed debt as a way of increasing "wealth." :blink:

Edited by Realistbear

Share this post


Link to post
Share on other sites

Big Porky?

http://www.financialdirector.co.uk/account...cies-soar-20091

Personal bankruptcies to soar by 2009
AccountancyAge.com, Accountancy Age 17 Aug 2006
Government report predicts massive rise
The Department of Trade and Industry has forecast that the number of bankruptcies will rise dramatically over the next three years to reach 28,000 a quarter by March 2009.
It also warned that the problem would get even worse if there was a recession, but denied the introduction of new laws like the Enterprise Act, which make it possible to exit bankruptcy after just one year rather than three, has encouraged more people to declare themselves insolvent.
Most prospective bankrupts, the report claimed, are not aware of the changes to bankruptcy laws brought in by Act.

Share this post


Link to post
Share on other sites

As regards whose fault it is that some people have massive debt.....

In the main, this isn't a result of the them taking on debt to pay for things they need, i.e. food, essential clothing etc. It is a result of greed and aspiration, that is the expectation that life would be wonderful if only I had e.g a new Merc, Gucci bag, BTL to boast about, expensive holiday etc. After the initial buzz of making the purchase fades, they then discover that they are the same person, with the same feelings of inadequacy, but with debt.

If it is not their fault that they cannot control their human urges to do as the media tells them the likes of Posh Spice, Colleen, et al are doing, then who is to blame??

How about The Bank, TV property shows, TV adverts, newspapers, poor parenting, the education system not teaching personal finance skills, the education system not promoting personal happiness/contentment skills??? Perhaps it is the debtor who is to blame after all.

The latest fad. Look at the TV, listen to the radio today......A level results.......if you haven't got a qualification then your life is over. What a load of Bollards! Some people are not suited to academia, so shouldn't we be teaching our youth to recognise and capitalise on their interpersonal and 'hands-on' skills, not just on the promise of a big salary in 15 years time doing a job they hate, to enable them to pay off their student loans?

As a society, we NEED plumbers, electricians, etc.

Rant over.

Share this post


Link to post
Share on other sites

As regards whose fault it is that some people have massive debt.....

In the main, this isn't a result of the them taking on debt to pay for things they need, i.e. food, essential clothing etc. It is a result of greed and aspiration, that is the expectation that life would be wonderful if only I had e.g a new Merc, Gucci bag, BTL to boast about, expensive holiday etc. After the initial buzz of making the purchase fades, they then discover that they are the same person, with the same feelings of inadequacy, but with debt.

If it is not their fault that they cannot control their human urges to do as the media tells them the likes of Posh Spice, Colleen, et al are doing, then who is to blame??

How about The Bank, TV property shows, TV adverts, newspapers, poor parenting, the education system not teaching personal finance skills, the education system not promoting personal happiness/contentment skills??? Perhaps it is the debtor who is to blame after all.

The latest fad. Look at the TV, listen to the radio today......A level results.......if you haven't got a qualification then your life is over. What a load of Bollards! Some people are not suited to academia, so shouldn't we be teaching our youth to recognise and capitalise on their interpersonal and 'hands-on' skills, not just on the promise of a big salary in 15 years time doing a job they hate, to enable them to pay off their student loans?

As a society, we NEED plumbers, electricians, etc.

Rant over.

Isn't that what all the Poles have come over to do?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.