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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