Saturday, October 28, 2006

Mortgage loans...

£30.4 billion mortgage loans for July.

The Daily Telegraph describes this as "raising further fears for Britain's economy and indebted homeowners."

Households are heavily in debt according to economists. Ever increasing energy prices and interest rises expected later in the year, consumer prices are likely to be under pressure.

It looks like people are just giving up. Don't care anymore. Although slightly less that in June by 6%, it was still 19% higher than a year ago (£25.5 billion).

If this is for one month then around £30.4*12 = £364.8 billion will be loaned in one year. That equates to an ENORMOUS interest account for one year's loans. Year in year out and increasing...

£364,800,000,000

£364,800 million. That's right, well over £1/3 trillion.

We will reach meltdown and it's only a matter of when. Blair will be gone. Somewhere. USA? Scotland? Hell?

Are you all STILL asleep? Comatose? Couldn't care?

Being screwed by the Blair government so hard and not notice? Amazing.

Try to reconcile this for yourself.

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