The UK has gone to the dogs...what does this mean?
May 19th 2009, 5:51 am
#106
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Re: The UK has gone to the dogs...what does this mean?
The same thing happens in the UK. If people can't be responsible then credit card and loan companies should be stopped from offering these loans. We come back to part of the sub-prime loan problem. People being offered money that they couldn't possibly afford to pay back. In the UK this is where NULabour and Brown should have stepped in and stopped it. But the then bouyant economy was based on personal debt and NuLabour and Brown effectively encouraged it. 
... giving Knighthoods to bosses of now failed banks !
... giving Knighthoods to bosses of now failed banks !It's easy for us to be wise after the event ie the crash but nobody held a gun at the British public's head and forced them to rack up a 10k Credit card bill. Hard to completely blame Brown and labour, I mean some if not most of the blame lays with the individual and basic human greed.
May 19th 2009, 5:59 am
#107
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Re: The UK has gone to the dogs...what does this mean?
If any prime minister or chancellor would have stepped in to try and stop or limit loans say back in 2003, they would have been voted straight out of office. The average person would have been horrified that they could no longer use their house as a cash machine, or afford new BMW's on credit every year, and would have seen it as an infringement of their rights.
It's easy for us to be wise after the event ie the crash but nobody held a gun at the British public's head and forced them to rack up a 10k Credit card bill. Hard to completely blame Brown and labour, I mean some if not most of the blame lays with the individual and basic human greed.
It's easy for us to be wise after the event ie the crash but nobody held a gun at the British public's head and forced them to rack up a 10k Credit card bill. Hard to completely blame Brown and labour, I mean some if not most of the blame lays with the individual and basic human greed.
People are not being wise after the event, NULabour were warned a long time ago that the economy was based not on Browns management but on personnal debt.
May 19th 2009, 6:24 am
#108
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Re: The UK has gone to the dogs...what does this mean?
I still say a lot of people are not capable of managing money and thereby the credit card and loans industry needs to be regulated to stop people borrowing too much. In the UK this should have been done years ago but NULabour and Brown weren't interested while they were enjoying the benefits of peoples irresponsible borrowing.
Then when the really vulnerable people have been driven towards the loan sharks, who charge huge interest rates, how do they regulate them?
May 19th 2009, 6:28 am
#109
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Re: The UK has gone to the dogs...what does this mean?
Unfortuntely there is little protection for the most vulnerable and extremely little chance of them getting out of a mounting debt cycle.
May 19th 2009, 6:29 am
#110
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Re: The UK has gone to the dogs...what does this mean?
The prime minister and chancellor are there to make the tough decisions, they should be based on what is best for the country not what is best for them .... but NULabour and Bliar became masters of spin and smear, only interested in what was best for them, not what was best for the country.
People are not being wise after the event, NULabour were warned a long time ago that the economy was based not on Browns management but on personnal debt.
People are not being wise after the event, NULabour were warned a long time ago that the economy was based not on Browns management but on personnal debt.
You cannot blame the government for the individuals lack of accountability towards themselves.
May 19th 2009, 6:36 am
#111
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Re: The UK has gone to the dogs...what does this mean?
Some of them can if they are determined enough and they opt to learn financial literacy, they can elevate themselves out of their debt. But mostly, I would agree with you, it is difficult for a lot of people because they can't see a way out.
May 19th 2009, 6:40 am
#112
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Re: The UK has gone to the dogs...what does this mean?
Loan sharks are a seperate issue and they should also be dealt with. But as you say, people have to take personal responsibility for their debts.
May 19th 2009, 6:41 am
#113
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Re: The UK has gone to the dogs...what does this mean?
People are being warned now that the health systems cannot cope with the burden already on them. Are people listening and looking after their health? No, obesity and obesity related illness is at epidemic proportions. The government tried to step in with various threats and warnings stating that if people did not follow their doctors instructions on losing weight, exercising, drinking, smoking, they could not expect healthcare. There was an outcry so the government backed down.
You cannot blame the government for the individuals lack of accountability towards themselves.
You cannot blame the government for the individuals lack of accountability towards themselves.
May 19th 2009, 6:44 am
#114
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Re: The UK has gone to the dogs...what does this mean?
You are right to a degree, we need better regulations and now that all the flaws have been exposed, we'll probably get them. What we really need though is some kind of training in financial literacy for the consumer. This would help a lot of people learn how to manage and control safe levels of debt
May 19th 2009, 6:46 am
#116
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Re: The UK has gone to the dogs...what does this mean?
You are right to a degree, we need better regulations and now that all the flaws have been exposed, we'll probably get them. What we really need though is some kind of training in financial literacy for the consumer. This would help a lot of people learn how to manage and control safe levels of debt
May 19th 2009, 6:51 am
#119
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Re: The UK has gone to the dogs...what does this mean?
Money issues and healthy eating can be combined.
Its far cheaper to buy fresh ingredients and cook a healthy meal than it is to buy fast food / take away meals / ready prepared supermarket meals.
Trouble is a lot of people are lazy and make excuses such as I haven't got time ! Well make time !!
Its far cheaper to buy fresh ingredients and cook a healthy meal than it is to buy fast food / take away meals / ready prepared supermarket meals.
Trouble is a lot of people are lazy and make excuses such as I haven't got time ! Well make time !!
May 19th 2009, 6:51 am
#120
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Re: The UK has gone to the dogs...what does this mean?
Many people could be disadvantaged by not really have a concept of responsible money management ie. some people with mental health problems especially bipolar can have significant difficulties in successfully managing money due to periods of excessive spending.