Thursday, 24 April 2008

THE DOWNTURN CONTINUES

The UK consumer is becoming more and more embattled. The credit crunch is advancing, negative equity looms for many home owners, and now warnings are out about another rise in food prices.
This comes alongside the term ‘fuel poverty’, with people unable to afford the high costs to heat their homes. We all swallowed the lie that we could have everything cheap and everything would be rosy.
Well, it was achieveable. But only under one condition. Had we all been that little bit more moderate in our intentions, borrowed less, and not classed wealth as how big the credit was, it could have been a different economic reality.
But that is in a parallel universe.

© Anthony North, April 2008

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4 comments:

marcia said...

thanks for your visit I liked you punniness

anthonynorth said...

Hi Marcia,
You're welcome.

Sandee (Comedy +) said...

The same things are happening here. Greed, pure and simple. The housing boom and people refinancing their homes several times...and then the bottom falls out and they are left with a home that isn't worth nearly as much as their payment. The prices are going down, down and down. People are walking away from their homes as well as hundereds and hundreds of freclosures happening each month. It's their own fault too.

Everything is becoming more and more expensive here as well. You are right. We created this ourselves. Have a great day. :)

anthonynorth said...

Hi Sandee,
It is ever thus. We never seem to learn.