The consumer economies of the Western world rely on debt to keep them growing; that is a known, and accepted, fact.
However, the level of debt is now reaching proportions that threaten the very basis of those societies.
The UK consumer debt will hit £1 trillion today; yes, £1 trillion!
That level of debt, in the event of an unexpected economic wobble, is unsustainable.
How did we get ourselves into this position?
Simple, people are now brought up to believe that whatever they want they can have immediately; without waiting, or saving. Instant gratification is the "name of the game".
The average adult consumer behaves more like a child let loose in a candy store.
It is now time to restrain those urges for instant gratification, and apply a little self restraint.
Remember, "famine follows feast".
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