Monday, 21 January 2008
I hate to say "I told you so". But hey! I did.
For years now I have warned people that the huge increase in house prices and the great feeling of wealth amoung all those people who were I consider unfortunate enough to have been sucked in by the vacuum they call 'credit'.
You only need to turn on the TV today to hear about the huge financial and economic problems of which, are now in such an appalling condition, no amount of 'spin', or 'intentionally confusing' figures and statistics can suppress what, in my opinion, has been inevitable from the start.
Our British economy is built up almost, if not entirely, of debt. Thats right, pieces of paper with signatures, from working to middle class people that state, (in my condensed words) "I will keep up the repayments of this debt, however should I fail at any point, except upon completion, to do so I therefore give you the right to keep my house and/or my valuable belongings".
You could look at it this way. Approximately 60% of the nation have made there deal with the devil (Credit=debt) and are now slaves to the banking system. Probably doing jobs they hate week in week out with no real existence and all to keep up the repayments on the DEBT! 'Better not upset the boss now folks'!
No links, just turn on the news channel.