THE EDGE OF THE PRECIPICE.

         As lots of folk in the UK look at Greece and say that it won't happen here, perhaps a closer look at some of the figures for the UK might make them think again. We as a country are just holding on with our finger tips, it will not take much to push us over the edge and have us in the same scenario as the Greek people are living through. These figures may be a month or so behind the times but nothing that has happened in the interim makes them less alarming. This from the right-wing pro-business class newspaper The Telegraph, January 4:

One million people take out emergency loans to pay mortgage

       Almost one million Britons have taken out an emergency 'payday' loan to help pay their rent or mortgage in the last year, according to Shelter, the housing charity. The high degree of borrowing highlights the 'spiral of debt' that people are falling into to keep a roof over their head, Shelter said. The charity also found that seven million Britons are relying on some form of credit to help pay their housing costs. Campbell Robb, Shelter’s chief executive, said: 'These shocking findings show the extent to which millions of households across the country are desperately struggling to keep their home.'

      Taking out a loan-shark Payday loan to pay your mortgage/rent, is pretty desperate stuff. This conceals a major problem in our economy just one blip and homelessness will rocket, and with unemployment rising fast that blip can't be too far off.

Another quote from The Telegraph on January 9:

Six million households have only five days' savings

     Around six million households would be unable to survive for more than five days if they stopped being paid, such are the low levels of savings among Britons, new research shows. A new report from First Direct, the bank, warns that one in three UK households have less than £250 in accessible savings. A fifth of all households have no savings at all. The bank said that £250 is the equivalent of three days’average monthly household take-home pay. With average monthly outgoing currently at £1,536, these savings would last just five days.

        So as our cabal of coalition millionaires keep telling us the we are on the right track, you can accept that they are lying through their teeth, are extremely devious, for what ever reason, or they are just plain stupid. We are as far as economics are concerned wavering on the edge of the financial precipice.

        The system is bust, normally capitalism brings extreme wealth to a few, some reasonable living for quite a few, and poverty and struggle for the many. Now as we move deeper into corporate fascism with the financial Mafia in complete control, the system produces unbelievable stratospheric wealth for even fewer, a reasonable living for the managers of the system and grinding deprivation for the vast majority. The unelected corporate fascists rule the world. Those who produce all that wealth never get a smell of it, the system is set up to syphon the wealth up the way. So forget changing the government, the party, the President or what ever, it is the system that we have to change.

ann arky's home.