Credit bust not far away
Oh, and while I'm doing boring posts, here's another one. At least it's short.
I am now firmly convinced that the UK is not only in the grips of a consumer credit boom, but that the bust is not far away. The story goes that Wall Street financiers can tell when there's a stock market bust coming when they get unsolicited share tips from bellhops. I reckon there's a consumer credit bust coming, because I'm getting unsolicited credit offers from checkout operators.
At the weekend, I spent ages at the checkout in a DIY shop trying to explain to the cashier that no, I didn't want to take out credit, and no, the argument that I wouldn't have to use the credit amount was not a good one.
I am now firmly convinced that the UK is not only in the grips of a consumer credit boom, but that the bust is not far away. The story goes that Wall Street financiers can tell when there's a stock market bust coming when they get unsolicited share tips from bellhops. I reckon there's a consumer credit bust coming, because I'm getting unsolicited credit offers from checkout operators.
At the weekend, I spent ages at the checkout in a DIY shop trying to explain to the cashier that no, I didn't want to take out credit, and no, the argument that I wouldn't have to use the credit amount was not a good one.