Tag Archives: private consumption

Forget Brexit, debt is what is killing the British economy

The International Monetary Fund is worried. Yes, it’s true that it always is, but this time we should be, too — or at least, those of us living in Britain.

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A research paper supports the idea of debt forgiveness

If you’re like me, you’ve certainly wondered why economic growth has been so sluggish after the worst post-war recession — the Great Recession, or Great Financial Crisis as some have callednthe 2007-2009 crisis. Normally, the economy should have surged, after such a deep slump.

Instead, we’re proud of economic growth figures around 2% in Britain and the US and cheer when the eurozone posts a meager GDP advance of above 1% almost a decade after the crisis.

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Why household debt needs to be written off

By Antonia Oprita

The story on the need to bail out households just like we bailed out the banks has sparked some controversy. To some extent, this was to be expected – but the truth is that forgiving household debt is the only real way out of the crisis.

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UK households need a bailout, just like the banks

Indebted households in the UK and more widely need a bailout just like the financial sector got one, in order for the economic recovery to take root, according to Dr. Johnna Montgomerie, lecturer in economics at the Political Economy Research Centre (PERC), Goldsmiths University of London.

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Household debt set to increase sharply in the UK

If you’ve finished the champagne you popped open the other day to celebrate the good news on Stamp Duty in Chancellor George Osborne’s Autumn Statement, perhaps it’s time to consider the negative implications of the expectations regarding household debt.

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