I read a very interesting article today which I think sums up one of the underlying reasons behind the recession we are currently facing. It concerns the difference between ‘broad’ money and ‘base’ money which I will describe in a moment. Many people blame the problems the banks are facing on their own irresponsible lending [...]
December, 2008
Red Rom’s Ruin?
As Windsor Davis would say in ‘It Ain’t half Hot Mum’, “Dear oh dear, what a pity, what a shame!” I just read that Roman Abramovich is down to his last £7billion! How will the poor soul survive I wonder? Well, apparently he’s decided to cut back on his spending by not paying the usual [...]
The Archbishop of Creditcrunchbury
In an interesting new twist on how to handle the current spiraling debt and economic meltdown the Archbishop of Canterbury, Dr Rowan Williams, has seen fit to put in his twopennyworth by questioning the Government’s attempts to stimulate spending as a way to stem the recession we find ourselves in. He apparently believes that the [...]
Chiltern Debt Monitor December 08
The average level of debt owed by a customer on a Chiltern debt management plan is down by over £1000 pounds since the beginning of 2008 and currently stands at its lowest amount since the Chiltern Debt Monitor started in 2007. However people can afford to repay less than they could at the beginning of [...]
The Final Pitstop?
The recession has hit the motor industry hard, so hard that Honda will withdraw from Formula One unless they can find a buyer for the team! So how big is the problem within the motor industry? Well, as I mentioned in a previous article, car sales in Spain for november were virtually down 50% on [...]
The Pain in Spain
I was saddened to read that the recession is finally biting in Spain, a country many of us know and love and which, until a year or so ago, was consistently recording one of the highest growth rates in the Eurozone. Traditionally it is the construction industry which tends to be hardest hit in any [...]
Chiltern gets stamp of approval from the OFT
Debt specialist Chiltern has been given the stamp of approval by the Office of Fair Trading (OFT), through its trade body, the Debt Managers Standards Association (DEMSA). They have been recognised by the OFT’s Consumer Code Approval Scheme – an initiative to promote and safeguard consumer’s interests by identifying, monitoring and rewarding better business practice. [...]
Screw the Recession?
I read an article today about the way people spend their free time. A survey of 2000 adults said that their favourite way to spend their free time, ahead of window shopping and gossiping, was having sex. The survey was published by the Terrence Higgins Trust, an Aids Charity, as their campaign for safer sex [...]