http://news.bbc.co.uk/1/hi/world/middle ... 381363.stm

I can't help feeling smug satisfaction that the bubble has finally burst. Everyone should know what goes up will more than likely come down again.

I like the idea of being held responsible for late payment, although gaol seems a little harsh, for a first offence - you don't then get a chance to sort it out.

But at least it gives people an incentive to live within their means.

It does make you think, if everyone is in debt who actually has the money nowadays.

Truth is, nobody. Money doesn't exist, only the idea truly exists and the whole world has lost confidence in that belief and so everyone is poor.

Because of this, the whole world being pretty much poor as a poor thing, why don't we just quantitatively ease the entire planet?

Here here. No doubt the government will chuck more of the publics money at trying to sort out this damn mess.

our banks in the UK are heavy involved, debt wise, within Dubai that it could easily trigger recession MK2

if that is the case i have no doubt that the banks will have their begging bowls out yet again for more tax payers money
then rearrange their bank charges so we the tax payers have to pay for this, begging bowl, via the rearranged banking charges

banks and bankers, you just gotta luv 'em …

I see that torches are out again, I better go and leave you to it

How else will we find our way home when the power goes off for good?

I meant these torches :

I know. I was cracking a joke - oh, never mind.

plus a few old tires and a couple gallons of petrol …

What do you expect? The banks are bastards.

It's "Hear, hear".

http://en.wikipedia.org/wiki/Hear,_hear



Jail for being in debt? That's barbaric, which is probably the reason it was abolished here all the way back in the 19th Century.

Damn! That was my TPA I forgot aboot!

And look where it has got us... People with so much debt, they haven't a hope in hell of paying it off, let alone all at once, if the creditor turns up and asks for their money.

Like I said, gaol for a first/minor offence is a bit extreme, but if you are a regular offender or have a large debt, perhaps facing gaol, instead of just declaring yourself bankrupt and carrying on, would make people think twice about taking on such large debts or ripping people off - just look at all the businesses that build up debt, go bust and the owners start over or bugger off with their ill-gotten gains.

The answer is to target predatory lending, not shoving people in jail. Banks know fine well the risk they're taking by lending to poorer people, they know they can't pay it all off, they're even quite pleased if people miss a few payments - it results in high interest payments and a few fees along the way.