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August 29, 2006


james higham

...Today, freer credit means people can respond to higher oil prices by borrowing money to maintain spending...

This is our problem over here, oil and gas being the central components of the economy. Prices on everything have risen and credit is now offered, as to a babe in arms, to help compensate.

It's a nightmare. Britain, on the other hand, has a long history of credit but household debt is is still staggeringly high.

Will Davies

Who gave the bank of England independence?


Will Davies - he answers you in point 4.

Assume there is a typo though in 4: "...potential for it too" should read "...less potential for it too"?

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