posted on Dec, 9 2012 @ 09:58 AM
Originally posted by Snoil
I stand corrected *respectful nod*, I was originally going to use small loan officer, but not having been in the Uk for over a decade, maybeI'm wrong
there too. I'm sure retail sales are still doable though.
That's genuinely appreciated.
Regarding the small loan officer: banks aren't lending at the moment. All those rounds of QE are still in the vaults and the banks aren't sharing.
It's a serious problem as even the Business Secretary, Vince Cable, now realises they banks are laughing up their sleeves here. There's no money
flow here now at all and it's going to get worse.
Whilst it stirs the cockles of the hearts of Tories everywhere, the reality is whilst Osborn is cutting benefits ( the 1% increase
restructured housing benefit and universal credit which will see many people on even the lowest rate of benefits between £10 and £20 a week worse
off), it's restricting the massive volume of small purchases in the high street. People on low incomes and benefits actually spend their all money as
they have no alternative. Cut that spending and it's going to have a massive knock-on effect.
Britain's high streets are seriously dead now. Decades of retail parks and out of centre 'malls', not to mention internet sales, have got the high
streets on their knees. Even charity shops are struggling to stay open in many places, I read that next year something like a 1/4 of all charity shops
will close in Wales. The Tories are always going on about small and medium size businesses, but all they're doing is helping them die off.
But back to loans, one sector that's doing rather well, and tend to be Tory party donors, is the 'pay day loans' sector. The biggest of these,
Wonga, is pretty chummy with the Tories. Wonga, incidentally, have a 4,214%