And if they are kept in constant debt, they are then effectively kept in their zero hours jobs by fear of the inept system of Universal Credit. Because any 'change' could make them homeless and starving....
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Debt is a policeman.
- Još 3 druga odgovora
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Eventually individual home ownership will disappear as people sell of their remaining houses to pay off their debts. Serfdom anyone?
Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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This is what the whole Blairite "miracle" depended on. Average unsecured debt went up from 85% of disposable income in 1997 to 145% by 2007. Public debt wasn't the problem but people using debt to make up for low wages. Wages stopped matching Productivity growth in the '80s.
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The welfare system is currently being used to "top up" people's wages.... This allows buisnesses to keep overheads low. But without working people they wouldn't have a business anyway. So what is more important. The product, or the people helping to produce the product?
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Exactly and why it’s important to be part of a large value trading block. Also consider that much of what domestic business produces is not the same as domestic consumers demand giving rise to imports of food, clothes etc.
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This exactly. Capitalism is propped up by the people buying stuff and services. What happens when the debt is maxed out?
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Or rates rise? Debt time bomb waiting to go off.
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There are of course far too many people who can't afford things they need to live But far too many people use credit to buy the things they want but don't need Eventually it all goes crunch An economic model based on consumption is why we are in the environmental mess we are.
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Exactly this.
Kraj razgovora
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Čini se da učitavanje traje već neko vrijeme.
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