cheers for link , I've seen this guy on rt .com on a few of there shows . certainly shows with those "very useful "charts ( seen them before ) on when it all started to change in 1971 and the acceleration as we hit the 80's and reganomics /Thatcherism . this is still whats happening , here in UK and other countries we are just waiting for that housing peak again and then a bigger crash than 2008 will hit . sometime soon imv
I don't think the sp will ever sink that low. However, if you are talking about £10 rather than £1, I would say never! and if it does, I will not only put you on the christmas card list but I will dress up as Santa and go round your house.
Yes early credit was by HP .. Higher Purchase ...This required you to sign an agreement for maybe a year for a loan on a purchase... IE a fridge... I did this when married and because I was 2 months under 21 years, my farther had to sign the agreement as security in case I defaulted...
Credit cards then arrived and was open to anyone that got one and their individual responsibility at lower ages ..
As I said that then.. this was the start of easy credit and debt.. from 1972 ish
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