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The downside of a consumer society.

While I was in England recently I noticed that on cable TV a LOT of the ads were for loans, The selling point was to lump all your debts together so you could spend some more money.

Semms this is the downside of thet theory.

Record for personal bankruptcies.

This part is interesting, wonder how that reflects in the rest of the EU and US?

Quote:

As personal insolvencies are growing, company bankruptcies have gone in the opposite direction.

"Company insolvencies are now at their lowest ever rate, a trend we expect to see continue over the coming months," said Malcolm Shierson, a partner at Grant Thornton.

Companies bask in the glow of a stable economy

During the third quarter 2,975 companies went into liquidation in England and Wales, the lowest quarterly increase on record.

This improved environment for business can be put down to low interest rates, high employment and steady GDP, said accountants PricewaterhouseCoopers.