Without wishing to upset the apple-cart with my commercial banking colleagues, we must extract ourselves from what have been referred to as the “disasters of a culture of wild speculation and debt delinquency” that are eroding economies of the world.
Whilst the Polonius 26 financial policy “never a borrower nor a lender be” was never good news for banking, we must be concerned when these days it seems easier to spend on credit than to save; I’m told you can even borrow money from one credit card company to pay off a loan from another!