Saturday, March 15, 2008

Living on credit is like being on drugs. When one fix has worn off, the search starts for the next.

CML Research identifies opportunities for UK equity release market

The current credit bubble is like a drug. The addicts are now searching for other ways to get their next fix. I have maintained constantly that the mechanism of money does not work with interest being charged. This is another way in which money can be borrowed and bring about a collapse in the workings of money finally.

Posted by glen @ 09:19 AM (525 views)
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One thought on “Living on credit is like being on drugs. When one fix has worn off, the search starts for the next.

  • “Equity release” is an odious term dreamed up by money lenders. What they really mean is borrowing heavily against an overpriced asset, just the sort of risk one ought to avoid in old age. Note the repetition of the phrase “strong fundamentals” – almost a signpost of woolly thinking.

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