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We all knew it was coming again and would not take long before we where in a darker hole than we originally thought.
Unfortunately it is not much of a surprise when all we were really doing was prolonging the inevitable.
If any experts thought that we would make it out of this then I would have to say the title "expert" should be questioned and even removed.
The warning signs where completely visible with:
- negative growth
- low GDP
- lack of investment from institutions into business
- an overall absence of the "feel good factor".
If you were to have a really good & close look around at what is going on; then you would notice at the moment there is no light at the end of the tunnel. Payday loans with a ridiculous APR generally in the thousands and by next year roughly 6 million people in the UK will have taken these out to survive christmas and start off the new year; which means even more bad debt. The price of household bills and food ever increasing as wages do not to compensate for the difference. The cost of fuel and cars to run is also on the rise, which to get to and from work (especially for me, traveling from Wales to Weston-super-Mare 5 days a week) is now a very expensive affair too.
Despite all of this going on the government is trying to get first time buyers onto the property ladder to start moving the property market.
In theory this is a good idea but quite impractical, considering other circumstances that need to be addressed at the same time. If you think about it in the long-run; putting first time buyers into property when they are struggling to afford rents will eventually mean more repossessions as they can’t keep up their mortgage payments; thus bringing house prices down not up.
Just to add to the doom and gloom lets look at the rest of the Euro Zone and how much they are struggling as well.
Do we really think that was going to help us as well? I think personally David Cameron's decision to opt out was exactly the right thing to do for once and should not be criticised for it either.
I would love to know your thoughts on this topic as I am sure there are quite alot of different opinions on this particular one. . .
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