Blog
Would you credit it?
27th February 2008
I must be one of the few adults of working age in this country not to possess a credit card? I now have one debit card, several more for hole in the wall withdrawals from savings accounts and no mortgage. My bank didn’t send me a replacement credit card last year and I haven’t missed it one little bit. But the rest of the world seems to have been going credit crazy over the last ten years and this series of clear charts from Foreign Policy magazine for their March/April edition is remarkable for showing the explosive growth in the demand for and supply of consumer credit. Now that we are firmly in the grip of a credirt crunch, perhaps the numbers will start to turnaround?
All of the charts and the remainder of the article are here.
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.