I have just been to the shops to buy something for lunch and whilst I was there, I met an old acquaintance who is a retired police officer. He gave me an account of a colleague of his who retired from the police two years ago, after serving for 30 years.
This recently retired man commuted the maximum amount of his pension permissible into a cash lump sum. That equated to £134000. He immediately spent £100000 on a new motor home. After six months he found that the motor home was too big and cumbersome. He also discovered that camper van holidays were not to his liking, so traded it for a Porche Panamera. The Porche didn't work out for him so he moved on to a BMW X5. Did I mention that he also bought a jet-pack? The jet packing ended abruptly soon after he left A&E with a broken arm. With most of the pension lump some consumed by massive depreciation on ill thought out purchases, what little is left is now invested in a jet-ski. This man still has an eye watering sum outstanding on his mortgage too.
I'm getting to the point now. This made think about some of the comments made on here about eligibility to vote. I don't know which way he voted in the referendum, but is it right and is it fair that this crazy b@$tard should be allowed to have a say in the future direction of the country? A say, which in some small way, affects us all? This is a man who used to do a job which is supposedly is responsible and reliable.
Then when I was inside the store waiting at the checkout, I picked up a store credit card form. They were offering 2 years 0% interest on purchases, then 18.5% after the honeymoon was over!!! If Mr Crazy got his hands on one of those, you just know what's coming 2 years down the line. There must be thousands, if not millions like him. Where is this going to end, because surely 18.5% day will arrive at some point in the future. Is this not a bigger threat than BREXIT. Shouldn't we all be worrying about the day of reckoning?
Why are the banks allowing this to happen? I thought they were supposed to lend more responsibly since the big screw up a few years back. I think that clown at the B of E should have raised interest rates last Thursday. 2% in the first instance to warm people up to what is surely coming.