Further proof that my attitude - stop people living beyond their means - is wrong and that the existing morality - borrow and spend money you don't have - is the way for a successful society.

After all, it's got us where we are today....

That's a fine attitude when your means aren't mean.

That's what everyone says Zoo but I actually feel it's even more important when you have very little.

Like

Even Gordon cant spin himself out of this one.

Smacks of desperation.

MINI factory closing for 4 weeks
Worlds biggest Steel Company slashing production by 30%
House prices down a further 2.2%
New car year on year DOWN BY 23%
Retail sales going through the floor
Unemployment rising at fastest rate since 1981

Add to that the "Credit Crunch"

Bank rate still near 6% for interlending
Credit card defaults now in the region of 20%
Repossessions highest for 17 years
Company profits halved
Nationised main banks


can only see the economic situation getting worse and I agree with JK - this is what has to be done

use all spare cash to pay off any credit card or loans ( get yourself into a position where rent/mortgage and bills are the only things you need to pay )
dont take out any new loans / credit agreements
make do and mend with all things where possible
cut foreign holidays - go camping
buy local where possible to keep your local shops and businesses open

as the new USA term says - it is time to "hunker down" and ride out this storm......

Watever happened to "saving a little for a rainy day?".
Seems thats a another tradition thats gone out the proverbial.