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Recession my arse
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<blockquote data-quote="bluebell" data-source="post: 8274382" data-attributes="member: 70168"><p>The thing thats driven the UKs economy increasinley, since the end of WW2, is debt, and borrowing, ease of credit, lisen to your fathers, mothers or grandfathers, my dad started his business in the late 50s early 1960s, getting finance to either buy plant and machinery or" hire purchase" to buy household items was a lot harder and more regulated then, than now. Its been shown in many examples that the seller, salesman, morgage, provider, only interest in many cases is getting his "comission" and not in the lender, buyers realist safe? ability to pay service the loan, debt. You no what, in a few generations we have gone from a nation of savers to a nation owing? Thats born out with the other thread, what did you want save for and not buy? My generation were savers, we saved money as children, had saterday jobs, saved up in post office accounts, etc, i saved up for my first car, bought it in 1982, cost me £350, was a 1972 ford cortinia 1600GT bought from someone who worked at the ford tractor plant in basildon. Now its debt debt debt, the UKs interest on its national debt is £67, billion, thats just the interest payments on the massive debt, twice the UKs total spending on defence? We are as a nation spending far more than we earn?</p></blockquote><p></p>
[QUOTE="bluebell, post: 8274382, member: 70168"] The thing thats driven the UKs economy increasinley, since the end of WW2, is debt, and borrowing, ease of credit, lisen to your fathers, mothers or grandfathers, my dad started his business in the late 50s early 1960s, getting finance to either buy plant and machinery or" hire purchase" to buy household items was a lot harder and more regulated then, than now. Its been shown in many examples that the seller, salesman, morgage, provider, only interest in many cases is getting his "comission" and not in the lender, buyers realist safe? ability to pay service the loan, debt. You no what, in a few generations we have gone from a nation of savers to a nation owing? Thats born out with the other thread, what did you want save for and not buy? My generation were savers, we saved money as children, had saterday jobs, saved up in post office accounts, etc, i saved up for my first car, bought it in 1982, cost me £350, was a 1972 ford cortinia 1600GT bought from someone who worked at the ford tractor plant in basildon. Now its debt debt debt, the UKs interest on its national debt is £67, billion, thats just the interest payments on the massive debt, twice the UKs total spending on defence? We are as a nation spending far more than we earn? [/QUOTE]
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