Monday, 31 October 2011

The mad Aunt of household debt

Like a mad aunt in the attic, the problem is not going away, indeed it can only get worse, yet we’re encouraged to pretend that the embarrassment doesn’t exist

The mad Aunt is Britain's household debt which says Jeff Randle writing in the Telegraph this morning stands at £1.5 trillion in mortgages, overdrafts, loans and credit cards and the day of reckoning nears.

The numbers he says are shocking,they point to another looming crisis,which, perhaps, explains why no one at Westminster is willing to highlight them.

Of cause,;ow interest rates have masked the problem but the concern is that once they rise and they surely will,catastrophe could ensue.

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