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Subject: UKs 1.4 £ Trillion Consumer Debt largest in whole world inc USA!!!!
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lazen


Activist
Activist
Posts:326


06/07/2008 10:56 AM Alert 
Emergency Emergency.
     UKs current consumer debt of £1.4 TRILLION POUNDS STERLING
    is "the largest of ANY COUNTRY IN THE WHOLE WORLD"Including that of THE UNITED STATES with 5 times the UK population.
Source www.dailyreckoning.com
Boy are we in a fix!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
chefdave


Activist
Activist
Posts:481


06/07/2008 2:09 PM Alert 
Yes, and its increasing at something like £1million every 5 minutes! It seems like the whole country needs to 'get on their bike' to find a part time job. We're seriously screwed and there's nothing New Lab can do as they've spunked all the money on lebian outreach diversity officers. Ahhh, the wonders of the miricle economy.
lazen


Activist
Activist
Posts:326


07/07/2008 12:40 PM Alert 

Come to think of it its probably the largest ever in the history of any country too!Yes the public waste is obscene.Our local library has spent Millions on expensive DVDs in unintelligble languages like Arabic and Urdu but English and American Literature Graduates who request a $14.00 interesting DVD on
American culture-oh something like a 1960s Surf Movie-are kept waiting
for 6 months and then turned down flat."Funding shortage"they say.
Meanwhile loads of new state of the art luxury modern flats spring up around
the Borough and then msyteriously most get occupied by hoards of families
from just about every nation of the Oriental and Meditterranean Basins.
The Housing Help reception area is always stuffed full of bedsheet garbed
types about 80%at any one time several hundreds as is the local Accident
and Emergency.
the Security Staff are similialry nearly all of Third World appearence about 75-85 %in the Council and in the hospital too as are nearly all the cleaners,porters,nurses and doctors!
The local supermarket seems to be some sort of a franchise consortium staffed and run by people of Bangladeshi type appearence from Security Guard up to Manager.Some days of the 20 or so tills only one "Caucasian"person is seen.
All the parking wardens most days and bus drivers are the same.
As are the majority of counter staff in all the local Bookmakers,Pharmacies
Restaurants,Post Office and Newsagents.
I kmnow one chap who rode 17 miles in a straight line down through South London to the M25 and in all that distance he could not find one "Caucasian"
Newsagents to buy a Bus Pass.The closest he got was a Polish one!He is Caucasian and never did!
The only occupations in which you can be guaranteed by the law or probaility to find a "white"person
is The Police and sweaty string vested men digging ditches in the road!
Sorry if you dont like this but this is how it is!


 

crisper


First Timer
First Timer
Posts:10


08/07/2008 11:38 AM Alert 
Is this forum moderated at all? Or can any ignorant tw*t simply offload confused mental garbage like this?
Asteve


Activist
Activist
Posts:930


08/07/2008 10:17 PM Alert 
The latter.

Oh, and the UK consumer debt is only larger than the US consumer debt on a per-capita basis. The yanks, on average, have less debt - but not by a huge margin.

Credit Action
has good data about the UK debt situation.

You might easily be confused by some figures for the USA which separate 'investment' borrowing (mortgages) from short-term debt (credit cards & overdrafts) from 'revolving' debt - such as car finance or implicit debt of leased vehicles.
SRRA_11


First Timer
First Timer
Posts:4


15/07/2008 8:30 AM Alert 
US individual i.e. [consumer] debt stands at $6.60trillion and the corporate liabilities amount to $18.40 trillion. The cumulative total, including the federal government debt, stands at an eye-watering $53 trillion . . . or $175,154 for every American man+woman+child.

In 2006, the US spent $406 billion in debt service charges and interest.

These figures DO NOT include the cost of military adventures in Iraq and Afghanistan. Also, the cost of supporting the 'baby-boomer'generation now coming into retirement are not included. At the same time, the cost of supporting a bankrupt financial system and its institutions like Freddie Mac and Fannie Mae are not included . . . they will be responsible for pluging the federal deficit further into the red.

The Chinese government has expressed alarm at the scale of the debt that America seems to be carrying and have questioned whether Washington will ever be able to redeem the Dollars+US Treasury Bonds held on exchange in the vaults of Chinese banks.

The former Comptroller General inside the Government Accountability Office - David Walker- has conceded that the United States will be unable to 'make good' on her IOU's and is, technically, bankrupt.

These are the underlying [real] reasons for the collapse of the Dollar . . . a thoroughly debased fiat currency that is the lynchpin of a failing financial system that will fall and [most assuredly] take the rest of us with it.


www.treasurydirect.gov/NP/BPDLogins?application=np

www.current.com/items/88913052_america_s_total_report_53_trillion_and_soaring


SRRA_11


First Timer
First Timer
Posts:4


15/07/2008 8:36 AM Alert 
Just read lazen's post . . . at least the first half of it

Didn't realise PO was an outpost for 'care-in-the-community' !? God bless you for doing your bit for those less fortunate than yourselves . . . !
Asteve


Activist
Activist
Posts:930


15/07/2008 8:48 AM Alert 
The treasurydirect.gov link is broken, but - otherwise - an interesting post.

The thing to remember about US consumer debt @ ~$6tn (~£3tn) is that they've got about five times as many people to pay it off. This puts the debt burden on the average US citizen at under half the UK. With this statistic, it is incredible that the likes of Brown can get away with suggesting that the failures in the Mortgage Backed Securities market is an "American problem".

I'd be very interested to see credible evidence that any US civil servant has publicly stated (at any point) that the US government might ever default on US treasuries. That would be a suicide mission for a career - even if it was not a debatable point.

The mere fact that people today are questioning US creditworthiness is a massive deal. I don't envisage a dollar collapse - but I see no reason to think that a dollar slide is impossible - as international currencies re-appraise their values.

Lazen thinks of us all with his literary style... most are saved from reading all his posts. ;)
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