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.

From Rolls Royce to three wheeler in 11 years

Now we know that Jeff Randle is not a great fan of Labour but he certainly chooses not to mince his words in his Telegraph column this morning.

After a decade of New Labour, the United Kingdom feels increasingly dysfunctional, a country whose economic engine has been filled with bootleg fuel - excessive personal debt, uncontrolled immigration, government profligacy - and is now blowing thick smoke

and goes on to say

Having promised us Rolls-Royce services, they have delivered Del Boy's three-wheeler. A golden legacy is ending up on the scrapheap

.