Is it a co-incidence that whilst the Banks report record profits, consumers report record debt?

Question

Whilst the Banks are reprting record profits and consumers reporting record debt is there a connection between the two?
With readily availible debt being promoted by the Banks at high interest rates ,along with high punative charges are we being seduced by the Banks and Government to borrow in order to fill their coffers?
Credit card debt is reported currently at £68 billion, conservatively the Government collected £ 10 billion in VAT from this, if the money was used for petrol, booze or fags this contribution is four fold,Banks of course accrue interest and charges above this.
Is this Robin Hood in reverse,fleece the poor to give to the already rich?

Answer 1

Banks exist to make profits by lending money. So record debt means record lending, boosting the banks profits.

Answer 2

If a companies revenue greater from $a million,000,000,000 final 3 hundred and sixty 5 days, to $a million.050,000,000 this 3 hundred and sixty 5 days that's a 5% enhance. although, if the fee of inflation has been 10% that comparable employer's actual revenue only went DOWN via 5%. Liberals like to apply the "checklist revenue" propaganda yet whilst they do no longer on a similar time incorporate the different factors then their fact isn't something yet a lie of omission. further amazing! a fact of organic honest, unalterable, economic actuality and the libs vote against it

Answer 3

Despite all the stories of the 'nanny state', and whilst some may disagree (I, for one, believe no-one shoiuld be granted a credit card without having at least an 'O Level' in maths) we still live in a Society where anyone has the absolute RIGHT to CHOOSE to be Poor (if they so wish).

Those with Credit card debt did it to themselves .. I have absolutely no sympathy for them at all ... those who choose to sign up to Barclay-card (or similar), then CHOOSE to spend thousands of £££'s on rubbish (and pay 18%+ interest) will eventually get everything that's coming to them.

Best quote I every heard is "The Poor turn Cash into Crap - the Rich turn Crap into Cash". - if you are Poor, all I can say is WAKE UP and stop spending money you haven't got ... instead you should sign up to Evening Classes and learn how to manage your own finances.