Friday, November 27, 2020

Tag: Why Surging UK Household Debt Will Cause The Next Crisis

Why Surging UK Household Debt Will Cause The Next Crisis

by Mark O’Byrne, Gold Core:
– Easy credit offered by UK banks is endangering “everyone else in the economy”
– UK banks are “dicing with the spiral of complacency” again
– Bank of England official believes household debt is good in moderation
– Household debt now equals 135{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of household income
– Now costs half of average income to raise a child
– Real incomes not keeping up with real inflation
– 41{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of those in debt are in full-time work
– £1.537 trillion owed by the end of May 2017