There are a few reasons why I'm fascinated by this whole debt thing...
1. I've been looking into going back into full education and the whole student loan thing that was started off by Conservative Government and just continued on by the Labour Government - as if it was ever a good idea, and it was only them blindly copying the American system without ever taking account of it's flaws - d'oh! All it means is that young educated people start their careers with a massive millstone of debt around their necks.
2. The growth and growth of Home ownership - yet another great Thatcher invention. Oh yes, let's get rid of social housing, have things like negative equity, boom and bust, and engineer it so that all the key workers that the self-interested, self-obsessed middle classes rely on can't even afford to live anywhere near where they work. Brilliant idea.
3. Letting banks have far too much power. Where does that come from? Why can't their customers bill their banks for compensation when they fuck up - and have to spend time and effort sorting out the bank's mistakes?
4. I've got a sneaking suspicion that keeping the population in debt is a neat way of keeping everyone under state control. Before we had plain and simple slavery - but ever since we had the Industrial Revolution and consumerism - we've had the working population putting themselves into deeper and deeper debt to maintain a lifestyle they automatically assume they deserve. No one's going to rock the boat when they think they've got something to lose. It's such a shame then that oil/fuel prices, environmental issues, are soon going to rock the boat for everyone. Maybe that's partly behind why Governments are trying to tag the population with ID cards and constantly trying to keep us afraid of terrorist threats... it'll be the next round of controls they're trying to put into place when the banking system starts to show signs of crumbling.
Depressing: The Subprime Meltdown Is The Tip Of The Credit Iceberg
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