2007-03-15 23:57:52 · 23 answers · asked by LongJohns 7 in Politics & Government ➔ Other - Politics & Government
The UK has worse debt per person than the US. This is documented in a new book by an American author. He was shocked because he thought the US was the worst in the world, but in fact it is the UK. What's that sound? Hello? Oh - my - God - it is a crash! There goes New Labour's support - fuh-lush!
2007-03-16 01:40:10 · answer #1 · answered by Bob M 1 · 3⤊ 1⤋
Lame sheep they are, suffering from the trappings of materialism. They've bought into the illusion that they can have it all.
I don't have a lot. But no debt either. And some savings. Will be nice to pick up a bargain when the bubble bursts. If i'm still around by then that is.
I'm laughing in a way. I think it's funny. People will cut off their nose despite their face through greed. And they are so intoxicated they don't even know they're doing it.
2007-03-16 00:51:25 · answer #2 · answered by Part Time Cynic 7 · 4⤊ 0⤋
Because people are dazzled by whatever's in the Sony Centre this week, and they just buy things on finance plans which, I shouldn't have to say, is a really terrible idea.
I've done it myself, and it took me three years to get out of the bloody thing again. Now when I want something I save for it in advance - which also gives me a good 6-12 months to decide whether or not I really want it.
2007-03-16 00:13:36 · answer #3 · answered by Anonymous · 4⤊ 0⤋
Because everyone throws money at you. When I lived in the UK, credit cards, store cards and the like were so easy to come by. I got into debt without even realising, thankfully I got out of it and I now live abroad where i can't even get a credit card!!
2007-03-16 00:01:26 · answer #4 · answered by Nickynackynoo 6 · 4⤊ 1⤋
Two reason's, we have a need want gotta have culture and credit is too easy to obtain. secondly there are a lot of people who having lost there job for whatever reason, have taken jobs on less money and then try to live to the same standard they had before.
Credit companies need to be more regulated and help find solutions, or they should not allow the credit in the first place.
2007-03-16 00:07:13 · answer #5 · answered by sylvie c 4 · 3⤊ 1⤋
Ridiculous , Stupid ,Lack of Credit Control by Lenders , Constant Urging to Borrow , Borrow and Borrow More--- Lack of Self Control by Borrowers --- Result -- Long Term Disaster for Tens of Thousands .......
2007-03-16 23:32:47 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Wanting things they can't afford
Not wanting to wait till they have the money to buy
Not all their fault, banks and credit card companies carry the biggest blame. All CC companies should be sued for the high interest rate they charge.
2007-03-16 00:00:38 · answer #7 · answered by Ya-sai 7 · 5⤊ 0⤋
Because credit is so easy to come across. banks were not doing proper credit checks.
Now with all this IV business, credit will be a lot harder to obtain, and interest rates will be hicked up to cover the cost of debt that has been written off.
2007-03-16 00:05:25 · answer #8 · answered by natasha * 4 · 3⤊ 3⤋
Here in the US it is just as easy to get in over your head. I get at least one credit card application in the mail a day. I burn the paper in the wood stove and recycle the plastic.
2007-03-16 00:10:49 · answer #9 · answered by Robert S 5 · 3⤊ 0⤋
Advertizing by the Banking industry.
2007-03-16 00:24:16 · answer #10 · answered by emiliosailez 6 · 0⤊ 0⤋