Tuesday, 1 September 2009

Personal Debt falls in the UK


I read with interest this morning that the UK public has decided that the best way to get out of debt is to pay off your borrowings. For the first time since records began, private debt has fallen as homeowners chuck whatever they can muster at the mortgage, pay back last years splurge on the 42" plasma and cook a meal from ingredients in their own homes. Before they lose their jobs probably.

Gordon won't like this at all. His current mantra is that the Government want to spend even more of your money to somehow borrow the UK's way out debt. It would appear meanwhile that the public are doing the exact opposite of the Chancellor of the Exchequer. Gordon needs us in debt. Labour must create poverty to create voters. The last thing they want is an austere electorate watchful of the pennies whilst big government throws the pounds around.

So, bribing the banks with trillions, pouring revenue from the State down the drain and throwing our money at anything and everything is not going to be a vote winner at all.

I do hope nobody tells Labour. The stupid fucking cunts. Pay off your debts and fuck them hard.

24 comments:

The Economic Voice said...

The reason borrowing is down in ration to repayments is because the banks don't want to lend so no one can get into more debt....other than on the plastic which has seen an increase in debt....everyone is paying their mortgages on their plastic as a buffer until the "Housing recovery" which will never happen....well not in this generation anyway.

And for all the retards that think the housing market is on its way back up you need to take a look beyond the VI bullshit of the press.

Most recent PH rises can be linked to the cash cich (That includes anyone who can afford to save up a 40% deposit on a house) who are tilting the figures mainly in London.

Until the man on the street can afford to save £70,000 for a deposit on a house then the crash will continue.....

Tell me how can the average waged man who is about to become minimal wage man afford to save 70k?


Just wait 12 months and your not going to believe what you will be able to buy a house for....the housing market is dead....British business is dead....the banks are lending less to both residential property and business.

We are so screwed....

The Economic Voice said...

That should read "Most recent PH rises can be linked to the cash Rich"

can't spell for toffee

Anonymous said...

There is no industry worth talking about in this fucked country so the only thing to keep it afloat is debt. Debt is the new industry that drives the stock market. We are truely fucked and as for the end of the recession, don't make me laugh we haven't seen anything yet. Wait for next year it is a depression on the way

electro-kevin said...

Fuck all that.

Have summa this !

http://www.youtube.com/watch?v=EyD3pLGH94o

bofl-too lazy to sign in! said...

most people are sensible.they realize that debt is a trap!

however gordon once read a book about a jock commie so he knows it all.......

the debt of the uk is inceasing by £300 million every day.......

interest on interest will cause the uk to default eventually.......

it is a slippery slope with no return.

Rab C. Nesbitt said...

Gordon has applied for a Provi loan!

Rab C. Nesbitt said...

And have a look at this -

http://tinyurl.com/kp6w62

(how the fuck do you do the hyperlink thing in a comment?)

caesars wife said...

i think these figures are misleading , wait until bankruptacies and small business news comes out

Old Holborn said...

Rab

Like this you thick cunt

Anonymous said...

Debt is only decreasing because the poor bastards have already declared themselves bankrupt or had their homes repossessed. I've paid off my credit card (sticking to just the one) & now only buy on it what I know I can pay off at the end of the month - otherwise I just do without. My only ongoing debt is my mortgage. Gordon must hate me!

Mitch said...

I can see gordon introducing compulsory credit, they will try and force you to borrow one way or another to help their future employers.
As for me A couple more years and bye bye mortgage hello cash only and fuck you HMG. I shall buy me an old classic car with no tax,classic insurance and emmisions you can choke on.
perhaps we should start Bartering again and leave cash to brown,he loves it so much,

Old Holborn said...

Mitch,

There is a reason Labour want 50% of our children to go to Uni.

Aged 23, with £20K of Government debt and a worthless degree in Hair Management Studies, who are you going to vote for? The hand that feeds you?

Dick Puddlecote said...

I'm paying my mortgage off like a mofo at the moment. Ironic that Labour's fuck ups have created an environment where those with easily-disposable income can make hay while those less well off are suffering, and struggling to pay the bills.

And yet they will still vote Labour.

Rab C. Nesbitt said...

Hyperlink test - GravyTrainSpotting

Rab C. Nesbitt said...

WooHoo! Works. Cheers OH, i'm slightly less of a thick cunt now.

Anonymous said...

It would be like our Supreme Leader to determine that if people are paying off debt then they're not being taxed enough. After all, your money is thier money when it comes to a Labour Government isn't it.

Gordon will look to identify those who have enough disposable income to be able to reduce thier debts, and fuck them with a tax bill.

The money will no doubt be used to feather the comfy chairs in The Lords that Gordon and Jack Straw are planning to sit on when we've kicked them out of office.

Rogerborg said...

I dropped my mate's motorbike this morning, so I'm stimulating the economy to the tune of one indicator and mirror.

If we all just break enough windows, we can save the country!

electro-kevin said...

How do I hyperlink in comments ?

Rightwinggit said...

We paid our Mortgage off a few weeks ago.

Fuck knows how MPs forget such a momentous event.

Uncle Albert said...

It's probably easy to forget which house they actually paid off.

The cunts.

Angel said...

The Economic Voice is spot on imho. I've seen suggestions that house prices could crash by 50% next year as the enormity of the economic catastrophe unfolds. A collapse in the US dollar followed by sterling is just around the corner. The out of control fractional reserve debt based economic train wreck is approaching the buffers and nothing can stop it. As the saying goes, when it hits, be somewhere else, especially not up your ears in unmanageable debt.

Anonymous said...

Re Rogerborg, 01 September 2009 23:34

Only if you borrow the money to pay for it. If you pay cash or clear your credit card payment at the end of the month, it's likely the PRC (or Japan) will be the main beneficiaries, who probably made said indicator and mirror.

Where does money come from?
The NEW Slavery
Money As Debt (Part 1 of 5)
http://www.youtube.com/watch?v=vVkFb26u9g8

jaymason said...

I owe no one nothing, and am fucking glad I paid off my mortgage last year as I have just been made redundant,job hunting at the minute for a job that pays more than a 'you want fries with that' wage is bloody competitive I can tell you. I despair that Gordoom is determined to up tax (even though I am not paying any at the mo!)and also National Insurannce in a mind numbing tax on employment when unemployment figures are continuing to rise. The bloke is seriously NVQ1 economics (i.e. can just about manage to buy a bag of sweets form the corner shop and check his change)

KristinPolet said...

We see increases every day in site (experts123.com) activity around debt and therefore expect reduce personal consumption. We half expected activity to flatten out but it has not. People keep asking about re-fi and consolidation. Ouch.

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