Thursday, Aug 17, 2006

Re-arranging the deck chairs on the Titanic

Telegraph: Govt. to tackle debt mountain

No-one takes government 'initiatives' very seriously any more, but, anyway, here we go again...

- Why does it take two years to introduce a simple tweak to the national curriculum?

Posted by uncle tom @ 07:29 AM (508 views)
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7 Comments

1. denzil said...

Simple financial education in schools is so overdue. Kids leaving today have as much clue regarding money management as I did 20 years ago after leaving school, i.e. none, but there is also a responsibility on lenders to reinstate some regulation regarding who they lend to. There was a girl of about 18 on one of those awful daytime tv programs the other day who had managed to amass debt of 40K on credit cards though she never had had a job. It was rather ironic as the program was interspersed with adds from debt consolidation companies and another with a woman slipping on the floor only to look really happy to sue somebody and get 5K.
Thank heavens for an episode of Quincey ME to add some sanity to my viewing experience.

To return to the point, people who I know who are on the borderline of debt are intelligent and to some degree have knowledge of money have subscribed to what is almost an addiction to the "buy now pay later culture" and education would probably have had little impact on their spending. In the last 6 years we have had such a paradigm shift in our view of money it's actually quite frightening.

Thursday, August 17, 2006 09:55AM Report Comment
 

2. Sloth said...

Is the answer a Debt license? Like a driving license except allowing you to use the UKs interest bearing financial industry.

Thursday, August 17, 2006 10:40AM Report Comment
 

3. markd said...

The Telegraph had an article on it's second page yesterday about a middle aged guy with approx. 450,000 outstanding on credit cards! Wonder how much of that will get repaid?

Thursday, August 17, 2006 11:14AM Report Comment
 

4. indiablue19 said...

I wouldn't mind having education on spiraling debt naturally. But even more I'd like some bleep-bleep incentive out there for savers! Like a tiny share of the bankers' much-trumpeted and astronomical profits going to those of us who keep our money in the banks rather than squandering it on everything from plastic whistles to jet helicopters! Come on Boys, sod the school curriculum... just a lousy stick and a carrot would do a lot!

Thursday, August 17, 2006 11:41AM Report Comment
 

5. Sloth said...

indiablue19,

Money expnasion and Inflation helps governments at the expense of it's citizens. ie. it's a very secret form of tax.

You won't see it reformed.

Thursday, August 17, 2006 01:21PM Report Comment
 

6. hard cheese said...

Hmmh, to little to late, we are now paying the price of the easy credit I want it now brigade. Encouraged by know more than the BOE it self, supported by the new labour, lets distribute even more of your wealth chums.
Chickens coming home to roost springs to mind as the veener is starting to crack.

Thursday, August 17, 2006 01:48PM Report Comment
 

7. inbreda said...

Are we paying the price?????

As far as I can see, and for as long as I can remember, the people to profit the most have been those that were happy to get into debt. careful savers have bene screwed every step of the way. I'm not sure I see these things changing.

Even Ms Begg, the BBC idiot..I mean journalist...has equity in her BTLs.

A HPC really needs to happen just to restore the moral equilibrium, but Christ is it taking its time.

Thursday, August 17, 2006 02:11PM Report Comment
 

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