Thought for the Week: Excess Debt is not the answer

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Gavin Oldham

Thought for the Week: Excess Debt is not the answer

Gavin Oldham
Original Broadcast:

Thought for the Week

Thought for the Week: Excess Debt is not the answer
The past seventy years have seen remarkable progress in so many areas, but they have also been accompanied by a growing addiction to debt. We've lost connection with the disciplines which should govern the use of debt: like the road runner who has just lost touch with the cliff edge, there is no longer any solid ground on which we can land — so we must now anticipate painful re-adjustment as markets fall. We need to move to a mindset where debt is a form of investment for the future, to be drawn down carefully and sparingly — not to be used either for chasing higher and higher prices, or for incessant Government bail-outs. Background music: 'Addicted' by VYEN

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Topics: UK (in Economics)

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