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In reply to the discussion: STOCK MARKET WATCH -- Thursday, 19 January 2012 [View all]Fuddnik
(8,846 posts)18. Speaking of the skunk, I just meandered over to Automatic Earth and found this.
http://theautomaticearth.blogspot.com/
"I found this one alarmingly interesting, for instance, from James Hall in the Telegraph on 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, Shelters chief executive, said: 'These shocking findings show the extent to which millions of households across the country are desperately struggling to keep their home.'
Ilargi: Payday loans to pay off your mortgage? Sounds like perhaps Britain has a substantial hidden real estate problem, a pre-shadow inventory one that could spiral out of control at a rapid clip.
On January 9, the same James Hall had this follow-up:
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."
"I found this one alarmingly interesting, for instance, from James Hall in the Telegraph on 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, Shelters chief executive, said: 'These shocking findings show the extent to which millions of households across the country are desperately struggling to keep their home.'
Ilargi: Payday loans to pay off your mortgage? Sounds like perhaps Britain has a substantial hidden real estate problem, a pre-shadow inventory one that could spiral out of control at a rapid clip.
On January 9, the same James Hall had this follow-up:
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."
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$10 TRILLION Liquidity Injection Coming? Credit Suisse Hunkers Down Ahead Of The European Endgame
Demeter
Jan 2012
#7
Speaking of the skunk, I just meandered over to Automatic Earth and found this.
Fuddnik
Jan 2012
#18
Yeah. What would be the corresponding statistics for the States? The Skunk, you see,
Ghost Dog
Jan 2012
#19
Well, ZH has a tendency to go way over the top, on occasion. The 'soundbite' is based on
Ghost Dog
Jan 2012
#20
I don't really "understand" any of it, Tansy - but I don't think it matters
bread_and_roses
Jan 2012
#62
Not as far back as our reptile brains. Just a hundred and fifty years of Western social progress,
Ghost Dog
Jan 2012
#65
The A-List: Jeffrey Sachs - Self-interest, without morals, leads to capitalism’s self-destruction
Demeter
Jan 2012
#37
Obama's "tax-policy", the new puppet-in-waiting and the collapsed UBS business model.
Ghost Dog
Jan 2012
#87