Friday, August 4, 2006

Personal bankruptcies this year could reach 100,000

Record Numbers Bankrupt

Figures just released show a record number of people in England and Wales went bankrupt between April and June. The number was 26,021 - the highest ever and well above the 15,645 for the same quarter last year. Individual Insolvencies Graph on HPC

Posted by webmaster @ 10:04 AM (552 views)
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10 thoughts on “Personal bankruptcies this year could reach 100,000

  • The Capitalist says:

    This is the start of the recession. Has anyone noticed lots of private cars with For Sale stuck in the window? Brown’s great house of cards is falling. What makes me sad are the social costs to this country that mass insolvency will bring, caused by a centralist near-Marxist whose arrogance is neatly wrapped up in his own words “The end of boom and bust”. I am now seriously thinking about emigrating.

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  • Bankruptcy is the soft option..ability to write off hundreds of thousands in a 3 month period that will tka ea grown adult 10-15 years to save…

    Sheer stupidity on the Governments behalf (or else they planned it all along!!)

    Bankruptcy should revert back to the 3 years time served so people can understand the value of money….

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  • The Bald Man says:

    Gordans economic miracle of borrowing from the future could only last so long. The years of wasted governement spening will have to be paid for. Borrowing against illusory house values (or taxing pensions) could not last for ever.

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  • Capitalist, I suggest Norway – it’s a bit chilly and has a “centralist near-Marxist” government (certainly more left than New Labour, anyhow). However, due to its investment of oil money in technology and core public services (unlike in the UK) its citizens enjoy one of the highest standards of living in the world. Bit chilly in the winter though…

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  • Retiredbanker says:

    Why not Sweden?.

    High standard of living, low population (these two tend to go together), and the goverment has acknowledged
    the coming energy crunch and intends to make their country independent of oil supplies by 2020.

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  • > Bankruptcy is the soft option..ability to write off hundreds of thousands in a 3 month period that will tka ea grown adult 10-15 years to save…

    Yeah, new laws on bancruptcy are crazy, why should we pay for other people’s stupidity, because in the end that’s whats going happens.

    But hopefully the banks will have learnt there lesson, and will never be so stupid again, and will blacklist these people for years.
    Be interesting to see what happens to the banks record beating profits of late!. (or should that be estimated profits)?

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  • The Capitalist says:

    Thanks Harold.

    I lived in The Highlands for two winters – that was enough for me. That said, I’m looking at west coast of Canada – desperate for high skills, resource rich, Vancouver the biggest port in the Pacific west coast, and new immigrants that go self-employed pay no tax for 5 years. Downside is exposed to recession in USA.

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  • Canada – good choice, they speak the lingo too (mostly). I lived in the Highlands (Applecross) over the winter one year – loved it, although the wind was so strong I kept on being blown off my motorbike!!

    RB. I have a sister-in-law in Stockholm who seems – now she has learned Swedish – to have a great life.

    Perhaps we should ask Webmaster to start a page dedicated to emigrating!

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  • ’caused by a centralist near-Marxist’

    Capitalist,

    How has a U.S. style, neo-liberal economy got anything at all to do with Marxism?

    What we have in the UK is pretty much the polar opposite of Marxism – Ultra Capitalism – and it is this ugly system alone that has led us to the mess we have to live with today. (pretty much exactly as Marx predicted!)

    Its understandable, I suppose, that capitalists should attempt to shift responsibility for the utter catastrophy that their socio-economic system of choice has inflicted upon the world, but really, you’ll have to find a more plausible scape-goat than Marxism.

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  • Capitalist, TT is correct New Labour has nothing to do with Marxism – if it did it is unlikely that Blair would always support Bush on foreign policy issues. If you want to give an example of Marxism you might mention Cuba.

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