Pr00ne, you want to comment how your one-eyed, unelected tw*t of a leader has led a second successive Labour government into bankrupting this country?
Bloomberg.com: Worldwide
Jan. 20 (Bloomberg) -- The pound dropped to a record low versus the yen and the weakest level since 2002 against the dollar on concern the government will have to rescue more banks as the economy slips into its worst recession since World War II.
Jim Rogers, chairman of Singapore-based Rogers Holdings, said the “U.K. is finished” and investors should sell the currency. Commonwealth Bank of Australia said there was a high risk of a cut to the country’s credit rating outlook and lowered its pound forecast. Prime Minister Gordon Brown authorized a 100 billion pound ($142 billion) bailout for banks.
No more boom and bust my arse! You want to comment on how, if this is a global issue, we seem to be the only ones having our currency absolutely trashed? About how the government failed to regulate lending in the good years, how lending money on your mortgage whilst house prices wererising contributed 5% to UK GDP, and if it werent for rediculously lax lending rules in the UK, we would have been in recession since 2002?
Total UK personal debt
Total UK personal debt at the end of November 2008 stood at £1,456bn. This has slowed further to 4.1% in the last 12 months which equates to an increase of ~ £56bn.
Personal debt has forged ahead of UK GDP which, according to latest available data, currently stands at £1,410bn having increased by 5.1% over the past year.
Total secured lending on dwellings at the end of November 2008 stood at £1,222bn. This has slowed further to 3.9% in the last 12 months.
Total consumer credit lending to individuals at the end of November 2008 was £234bn. This has continued to slow to 5.2% in the last 12 months.
Total lending in November 2008 grew by £1.5bn; secured lending grew by £0.7bn in the month; consumer credit lending grew by £0.8bn.
Average household debt in the UK is ~ £9,600 (excluding mortgages). This figure increases to £21,875 if the average is based on the number of households who actually have some form of unsecured loan.
Average household debt in the UK is ~ £59,670 (including mortgages).
Average owed by every UK adult is ~ £30,420 (including mortgages).
Average outstanding mortgage for the 11.7m households who currently have mortgages now stands at ~ £104,058.
Britain's interest repayments on personal debt have soared to £92.1bn in the last 12months. The average interest paid by each household on their total debt is approximately £3,774 each year.
Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,893 per average UK adult at the end of November 2008.
During 2008 Britain's personal debt has increased by ~ £1 million every 10 minutes
No more boom and bust! The man should be on trial for treason!
