75ZT CommunityA social community of enthusiasts, owners, appreciators and collectors. With expert knowledge of all things from MG to Rover and beyond.2012-07-17T09:08:13+00:00https://www.75ztcommunity.co.uk/feed.php?f=2&t=5969&mode2012-07-16T20:38:15+00:002012-07-16T20:38:15+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=5969&p=55234#p55234
Suffolk Man wrote: take all your money from the banks and get ready for a rough ride
What money?
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]]>2012-07-17T09:08:13+00:002012-07-16T19:33:20+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=5969&p=55224#p55224 The real baddie, or at least a major contributor to our present difficulty, is the insatiable demand for credit. Imagine, if there was just half the credit outstanding in the world the amount of money there would be available that is currently required to pay down debt. That money is diverted from the economy to reinforce the finance industry which exists only for itself. That’s a rather simplistic definition of parasitism but effective just the same. If economies were run sans debt, growth would be what it should and maybe we wouldn’t be where we are.
Some of us may remember when Hire Purchase reared it’s Alienesque head. You want it? You can have it! Just sign here my friend! Then pay me every month for the privilege of borrowing it for three years and then you’ve only got one payment to make! Then you can own it. ’Cos it’s worth nowt. Then the birth of the Access card with a credit limit equal to two years salary, issued to people who’s jobs where far from secure.
The worst news the Bank of England could hear now? `Good morning Mr. King. This is Grabbit and Hoppit Inc, Credit Index (Worldwide). We are sorry to inform you that we have to downgrade your rating from AAA+ to A-. We realise this will mean the repayments on your national debt will double and take this opportunity to remind you that your next due date is 1st. of next month‘. It’s a merry-go-round with its cruise control set to ‘faster and faster’.
Populus me sibilat, at mihi plaudo ispe domi simul ac nummos contemplar in arca
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