tag:blogger.com,1999:blog-2948538160252327076.post6442952376137313448..comments2023-11-02T15:48:50.381+00:00Comments on UK Bubble UK Economy: Still cashing out.....Alice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2948538160252327076.post-57818765001380596822008-08-04T15:49:00.000+01:002008-08-04T15:49:00.000+01:00Alice,How much of the spike is total loans down ra...Alice,<BR/><BR/>How much of the spike is total loans down rather than MEW up?<BR/><BR/>NickAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-73166648855553209212008-08-03T11:01:00.000+01:002008-08-03T11:01:00.000+01:00Thanks for this one Alice - it's fascinating.Maybe...Thanks for this one Alice - it's fascinating.<BR/><BR/>Maybe another factor here is the high cost of "College Education" for the aspirational US middle class. Anecdotally, I know US friends who have had to swallow hard at the total cost of getting several kids through College and into the workplace - sums like $100,000 for two or three kids are not uncommon, even with some assistance from government loans and College endowments.<BR/><BR/>I expect "home equity withdrawal" is the most cost-efficient way of takling on debt on that scale, which some people will feel is unavoidable, all for the best in the end, and can be paid back hopefully with ease in the years before retirement when the kids are no longer at home.<BR/><BR/>When the economy threatens to go down, making entry to the workplace at a high level more competitive, I would expect that kind of borrowing to go up. This kind of borrowing will only feed into luxury consumerism later on and in part, as the money is recycled into the non-educational economy.<BR/><BR/>B. in C.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-31949019108689759242008-08-03T09:15:00.000+01:002008-08-03T09:15:00.000+01:00I must get my hands on the IOUSA film sometime !I must get my hands on the IOUSA film sometime !Man in a Shedhttps://www.blogger.com/profile/00990902055642035293noreply@blogger.com