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Bank of England: Britain Heading Towards 1930s-Style Depression
- Text size
Telegraph
March 16, 2009
The country is displaying early symptoms of being trapped in a so-called “debt deflation trap” where families find themselves pushed further and further into the red every month, according to a Bank report published today.
- A d v e r t i s e m e n t
The Bank is using its Quarterly Bulletin to highlight the threat posed to the economy by deflation – where prices fall each year rather than rise.
Although inflation is currently in positive territory, it is expected to become negative in the coming months.
The Bank is worried that this may combine with high levels of indebtedness to squeeze families further.
It says that families with high debts could fall prey to the debt deflation trap. This means that the cost of their debts, which are fixed, would rise compared to average prices throughout the economy. While inflation erodes debts, deflation makes them relatively higher.
The Bank’s paper suggests that Britain is particularly at risk because there is a high proportion of families with significant levels of debt, and many of them are on fixed mortgage rate, which means they will not benefit from rate cuts.
Britons’ total personal debt – the amount owed on mortgages, loans and credit cards – is, at £1.46 trillion, more than the value of what the country produces in a year.
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March 16th, 2009 at 11:46 am
as if they didnt have anything 2 do with the collapse
March 16th, 2009 at 12:16 pm
International jewry is the poisoner of all people.
March 16th, 2009 at 1:13 pm
its the fucking jews who are behind all this bullshit,the sooner every one wakes up to this point the quicker we can deal with this cancer of man kind and the world will know peace until then we will suffer at the hand these cunts who by the way lied about the holocaust and are still collecting money for it about 4.5 million of them and have been thrown out of every country in history now they have a country of their own stolen from the palastinians.
THE JEW IS THE DEMON BEHIND THE CORRUPTION OF MAN KIND
bill Reply:
March 16th, 2009 at 2:00 pm
John Kent… the problem with your position is that it feeds directly into the divide and conquer agenda of the global controllers. While zionists not jews (there is a difference) make up most of the global control grid, average people whether jew, christian, muslim or any other false label are NOT the enemy. There is but good and evil. Evil is the enemy and it is evil that has brainwashed humanity to believe that there are differences between people based on place of birth, color of skin, what religious B.S. they were indoctrinated in etc. etc. Unless and until, we come to realize that we are all sovereign universal beings and there are good ones and very bad ones… we haven’t a hope of defeating this. Identify the enemy and learn who you really are… then you can help educate and free others from the shackles of mind programming from birth.
meandmydog Reply:
March 17th, 2009 at 12:14 pm
well the germans didnt like the jews…and now we have the banksters not likeing ‘lesser mankind’ – ’sheeples,’ seems like we are all headed for the gas chambers!
March 16th, 2009 at 1:24 pm
It won’t last long. Nobody knows where the bailout money is going but it’s not going into the economy for sure. Probably offshore. But as sure as eggs is eggs the Banksters of England will begin printing pound notes like Andrex produces toilet roll and chucking it into the ‘economy’ (there isn’t one really) Then we will see hyperinflation by the end of this year if not then DEFINITELY in 2010. Prices will go through the roof and then they’ll do what they always do: raise interest rates. The result: STAGFALTION. A stagnant island which will probably never recover in our lifetimes. The same will happen in the US. None of us make things anymore. The US is better off because it has plenty of agricultural land. England is fucked.
bill Reply:
March 16th, 2009 at 2:04 pm
Union Jack… you’re right except the agriculural land in the US is largely owned by the elite through the UK monarchy’s Virginia company (now passed to the vatican) and what’s left is rapidly being sold to the Chinese… to use your expression.. we’re fucked too.. and that’s exactly their plan!
Union Jack Reply:
March 16th, 2009 at 2:25 pm
Yeah Bill, I thought about that. And also the U.N. ( i think it’s in one of AJ’s films) is taking over huge tracks of U.S. wild lands and there’s ’smart growth’ to contend with too. But at least you can buy guns and fight back. Hand guns were banned here years ago and getting a rifle you have to jump through a million hoops. So here, no guns + no land = time to emigrate dude!!!
Teach Reply:
March 16th, 2009 at 2:37 pm
As if we need their permission to farm? Come on Bill, the whole point of revolting is to take back the power they have stolen and our rights. It also means, “To the victor go the spoils.” They are enemies of the state and by their very own treason, are not entitled to own land or conduct business. Who in their right mind would honor any bill of sale or deed presented by an enemy?
Union Jack Reply:
March 17th, 2009 at 11:58 am
The one that comes with swat teams, Teach, military and submachine guns. When NORAD comes and bombs the fuck out of your property. When FEMA comes and kicks your door in. Waco anyone? Gun confiscation in N Orleans after Katrina? It aint 1776 anymore dudes with muskets and all American heroes kicking out the British. Someone has upped the anti I’m afraid and you’re outa your league today.
Toecutter Reply:
March 17th, 2009 at 3:02 pm
Wrong! Let me explain. Here in America in many states not every but many one can still get what is called a curious and relics license or even a class III license and even destructive devices which includes many things. Anyway, the people that hold those licenses have had to kiss ass and jump through hoops and pay taxes ect. ect. but they got em and someone would play hell taking them away. The downside is the NAZI fed know right where those (the guns) are. But the rest of guns are out there and a very large number are owned and if necessary will be carried by veterans whom have the very same training as those sent to collect them. That is a wrench in your works and theirs too. That puts the boot to your Union Jack.
March 16th, 2009 at 1:50 pm
These sorts of articles invariably prey upon the general ignorance of economic principles. There is one contributing factor which leads to inflation, and that is overcreation of money. We don’t have to search long to find ample evidence the Fed has been doing just that- to the tune of trillions of dollars. Temporary price declines, as we are now seeing, are due to supply and demand factors, not ‘deflation’. Deflation occurs when the money supply is contracted. Although credit has dried up, rest assured the money is still floating around out there in offshore accounts. Inflation is highly desirable for the US government, since every increase cuts our huge national deficit by a similar percentage. Anyone holding US debt is well aware of this fact, hence China’s recent warning for us to “be careful” about inflating our currency via all these stimulus bills and pork-laden spendthrift projects.
March 16th, 2009 at 2:51 pm
Prison Planet is mentioned today at the c.b.s. news site. “Conspiracy Theorists Scrutinize Obama Ties”. You people are getting famouser and famouser. They call you people nuts lol.
March 16th, 2009 at 2:53 pm
Union Jack. There will be no immigration for you! That is your post now you stay there and defend it! You’re ordered to hold your ground at all costs. We don’t allow any turn and run faggots in our numbers. Grow yourself a set and be a man. Do you understand me? I don’t have time to put up with little chicken shit P-U-5-5-Y’s in this army.
Union Jack Reply:
March 17th, 2009 at 12:07 pm
Hah! That’s the funniest post I ever read on here!!!! Look, I respect the past but I aint living there. You dig? I’m living NOW. I like Alex Jones alot and it’s very informative but I’m not playing his ‘Last Texan Stand at the Alamo’ scenario. I fight battles I think I can win. A dead hero is just that. DEAD. I prefer to live and survive to fight another day. I don’t own any land. Any property. How can I get my country back when it was never mine in the first place??
March 16th, 2009 at 3:53 pm
Tired of being relegated to comment sections.
Visit The Freemen Institute and start contributing articles and news.
Only when we rally together will we be successful.
http://www.freemeninstitute.com
March 16th, 2009 at 10:07 pm
Check this site out and get involved!
http://www.worldnetdaily.com/i.....geId=91398
March 17th, 2009 at 3:36 am
Oh man im tired of waiting……. When will this so called “10x worse than the depression.”Take place?????? Im tired of waiting and waiting. I just hope that it dosent happen before March 19th!!!!!
Because the 19th is when the new maps for Call of Duty waw maps come out! Wohoo!!! I cant wait to play the new zombie map! Im so stoked! But if this whole depression takes place before then then I wont get to buy them. I just hope when it happens (if it does happen) AFTER I get the new maps!
Because then all I will need to survive is my gigantic freezer full of hot pockets, pizzas, and burritos. And of course my 42 inch tv, xbox live, and cod waw!!!!!! wohoooooo!!!!!!!!
COD 5 IS THE BEST GAME EVER!!!!!!!!!!!!!!!!!!!!!!
March 17th, 2009 at 5:45 am
“Banking establishments are more dangerous than standing armies.”
March 17th, 2009 at 8:43 am
Just wait and watch,wait and watch do nothing say nothing,goooooooood SLaaaaaaaaaave
March 17th, 2009 at 9:09 am
Wasn’t it “…PENNIES ON THE POUND…” that started all this trouble and cursedness???!!YES!
The real “G O L E M ” is the relationship which initially started between the British Crown and the Israeli lobby!!!
Enjoy your porrige!
YOU CANNOT HAVE ANY PUDDING UNTIL YE EAT YER MEAT!!!
March 18th, 2009 at 1:48 am
WHO IS THE KING OF TEXAS
I will show myself on April 22 in Waco Texas at the massacre site. I am calling as many Christians of this nation who can find the time to come and see what it is that you don’t even know that you want.
I have the answers for the Christians who have never been defended by their government but have rather been oppressed by their so called government of freedom.
I also have the answers to the current generated economic crisis. This is a peaceful gathering for YHWH our God. But you might want to bring a firearm just in case. After all let us not forget what they did to us in Waco. MAY OUR LORD JESUS BE WITH YOU FRIEND.
I realize it is off topic please forgive me.
March 18th, 2009 at 5:15 am
If we are stuck using the FIAT money system where they muster up money out of no-where, then instead of pouring this money down an endless pit of bankers.
Why not give all of us the bailout money and forget the sodding banks on this one?
March 18th, 2009 at 1:35 pm
Where i live in the UK there is roughly 40 people applying for every job vacancy , this is gonna turn ugly , and 99 percent of people have no clue why this is happening , but its pretty obvious to me its the greedy stinking globalists doing away with the old system to bring in there wonderful new one