The Bubble Goes Bang

I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???

Thursday 5 July 2007

Debt costs 'reach record levels'

The burden of paying off household debts has reached record levels, a leading firm of accountants has said.
PricewaterhouseCoopers says repaying money borrowed, and the interest on it, now takes up 19% of the average UK household's disposable income.

That is more than the previous peak of the domestic debt burden, which was 18% of household income in late 1990.

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Posted by AC at 13:51
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