Saturday, 15 December 2007

Feed me

The North London shopping centre - Brent Cross - has hit on an extraordinarily frank sales pitch - "feed you addiction"". Many London buses are now covered with large advertisements telling the addicted shoppers that Brent Cross is just the place to get their end-of-year fix.

However, the addicts are close to an overdose. Personal sector debt in the UK is now so large that the Banks are beginning to get frightened of the debt monster that they have created. Although the Bank of England has cut rates, banks are increasingly wary of any new lending to UK consumers.

Feed the addiction? Not this year. Please forgive the corny christmas reference, but it is time for cold turkey. UK consumers are shopped out. The enthusiasm for the housing bubble has gone. It is time to start paying all that debt back,


traderboy said...

i'm not sure about the consumer being dead...where i am in central london, the shops were ***PACKED*** yesterday and yes i am including the lines for the tills. and i noticed when i was out the other night, the same day as the bank of england cut rates in fact, that EVERY restaurant was full, the bars are hopping, etc etc. maybe its a xmas thing and the new year "hangover" can begin soon, but on the high street things still look like they are buzzing. although foxtons (the estate agent, for those who don't know) seems to have less people in it or looking in the window whenever in walk past, so at least something is looking up!

oh and re: your links being in albanian, i replied to you in a previous comment, maybe you missed it?

traderboy said...

try changing the language in the "Settings -> Formatting" section of blogger.

i typed the words into google and it returned albanian links. also i notice that the first option on the language setting above is indeed albanian so it's probably that.

hope that does it.

2007-12-05 11.35.PD

also i think putting the archive into a heirarchy format, which you can do in the "Layout" page and clicking on the Blog Archive tab, would be more useful for readers finding older articles. and maybe moving it up above the links. but then i'm just a stickler for details :)

ukhousingbubble said...

Trader boy,

I will sort this out. Bit busy at work at the moment, but it is on my to-do list.



ukhousingbubble said...


Brent cross looked a little quiet on Saturday, given that we are so close to xmas.

Sure, people are buying, but I think they are buying less than last year.

For me, the killer fact was queueing at Marks and Spencers. It took no time at all.


Anonymous said...

But you have to spend spend spend its the only thing propping up the economy!

So rush out and "feed your addiction" to cheap Chinese made tat while your currency still has some modicum of value like a good citizen-consumer!

Its not as if its real money..its all on CREDIT!!