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Recovery?: One-In-Five Britons Borrow Money To Afford To Eat

Tyler Durden's picture


While GBP jumped and the world celebrated the UK's recent avoidance (for now) of a triple-dip recession (defined on GDP as opposed to reality), the situation in the island nation appears to be going from bad to worse. As Carney takes over the reigns of this once mighty nation he faces a country deeply divided. As the BBC reports, while London real estate prices smash old records, a stunning one-in-five households borrowed money or used savings to cover the costs of food in April. This is the equivalent of five million households unable to fund their food via income alone. Over 80% of these people are concerned about rising food prices (just as print-meister Carney is about to go 'Abe' on them) and almost 60% find it difficult to cope on their current incomes. The director of the consumer group 'Which?', noted that "many households are stretched to their financial breaking point," as "families face a cost of living crisis." While equity and real estate prices hit all-time highs, the opposition sums up the country's feeling, "this incompetent government needs to wake up to the human cost of their failed economic policies."

Over one-third of Britons "feel squeezed"...


Via BBC,

One in five UK households borrowed money or used savings to cover food costs in April, a Which? survey says.


It suggests the equivalent of five million households used credit cards, overdrafts or savings to buy food.




The figures come despite official statistics last week showing that personal insolvencies had dropped to their lowest levels in five years.




Results showed that of the households who resorted to using credit or savings to pay for food, most were low income families. Among this group:

  • Eight out of 10 (82%) worried about food prices
  • More than half (55%) said they were likely to cut back on food spending in the next few months
  • Nearly six out of 10 (57%) said they found it difficult to cope on their current income
  • A third (32%) borrowed money from friends and family in April


A typical weekly food bill averages about £76, Which? researchers said, up 4% on last year.


Of all the people polled, the research showed:

  • A quarter said they were living comfortably on their incomes
  • More than a third - 36% - felt their finances were under pressure
  • Almost one third - 31% - of those surveyed cut back spending on essentials last month, and they were most likely to be women aged between 30 and 49.



Mr Lloyd, Which? executive director, said: "Our tracker shows that many households are stretched to their financial breaking point, with rising food prices one of the top worries for squeezed consumers.




Mary Creagh, Labour's shadow environment secretary, said the UK was facing a "growing epidemic of hidden hunger".


"Families face a cost of living crisis and are being forced into debt or to use their savings simply to put food on the table.


"This incompetent government needs to wake up to the human cost of their failed economic policies and change course now," she added.



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Sun, 05/05/2013 - 12:08 | 3532077 JeremyWS
JeremyWS's picture

Hence why the FTSE is at 5 year highs...

Sun, 05/05/2013 - 12:11 | 3532080 Motorhead
Motorhead's picture

And one out of every three borrow money to whack pints.

Sun, 05/05/2013 - 12:12 | 3532083 CH1
CH1's picture

Yeah, this will turn out well...

Sun, 05/05/2013 - 12:17 | 3532100 El Viejo
El Viejo's picture

Staus Quo Maintenance is now the #1 scam in the World.

Sun, 05/05/2013 - 12:31 | 3532119 markmotive
markmotive's picture

F@ck the government-sponsored data. You need to watch for Main Street recession borrowing to eat.

Another one: Manhattan prostitutes are shopping at Old Navy

20 Main Street Recession Indicators:

Sun, 05/05/2013 - 13:16 | 3532198 imaginalis
imaginalis's picture

It must be even more sickening considering the food which is on offer in the UK

Sun, 05/05/2013 - 13:25 | 3532214 akak
akak's picture

I wonder why the British are so congenitally crippled when it comes to the appreciation of (or the ability to make) good food?  If they showed one tenth of the discrimination they give towards beer towards food, they would be right up there with the Italians, French and Spanish.  But no, they continue to boil vegetables into oblivion, shun spices, and run from garlic like a vampire ---- which, given their generally pasty and unotherwordly pale complexions, may not be just a coincidence.

Sure, you can call the poor quality of British food just a stereotype, but there is a VERY strong basis for that stereotype.

Sun, 05/05/2013 - 13:28 | 3532225 Precious
Precious's picture

Hey Kito.  Push it down this time, you fucking tool.

As RT further reports, during the attack, one Israeli jet was reportedly shot down by Syria's Air Force, according to Hezbollah's Manar TV channel, citing security sources in Damascus."

Sun, 05/05/2013 - 13:32 | 3532233 akak
akak's picture

Was that a threadjack, or are you just retarded?

It's bad enough to respond to the wrong poster, but to do it IN THE WRONG THREAD? 

Sober up.

Sun, 05/05/2013 - 14:33 | 3532267 Precious
Precious's picture

Hey everybody.  Look.  It's the fucking thread boss !  And he's going to kick someone off.

5 - 4 - 3 - 2 - 1 ....  Nah.  Guess not.

Mon, 05/06/2013 - 02:13 | 3533514 Boris Alatovkrap
Boris Alatovkrap's picture

Key to successful thread jack is to read comment first and to find common locus point. For example, Boris is talk about complete to irrelevant topic, like cancellation of NASA manned flight...

5 - 4 - 3 - 2 - 1 ... Vzletats!

Vzletats is Russian of "Blast Off". Joke is make fun of socialist president to ground Amerikan Space Flight Program, rely on Russia for take American Astronaut to Space Station. $88M for return trip. Ca-Ching!

Sun, 05/05/2013 - 14:16 | 3532324 giggler123
giggler123's picture

Well when you shop at Island there is little else...

Mon, 05/06/2013 - 02:29 | 3532606 Wile-E-Coyote
Wile-E-Coyote's picture

You want to upgrade your stereotype to at least digital. You haven't got a clue you dumb redneck. 


Sun, 05/05/2013 - 19:02 | 3532866 malikai
malikai's picture

I wonder why the Americans are so congenitally crippled when it comes to the appreciation of (or the ability to make) good food?  If they showed one tenth of the discrimination they give towards killing brown people towards food, they would be right up there with the Italians, French and Spanish.  But no, they continue to eat Monsanto into oblivion, shun spices, and run from garlic like a vampire ---- which, given their generally overweight and unotherwordly slothish lifestyle, may not be just a coincidence.

As a yank in the UK, I had to.

Sun, 05/05/2013 - 13:49 | 3532254 Motorhead
Motorhead's picture

That's why Indian food is so popular!

Sun, 05/05/2013 - 13:53 | 3532265 akak
akak's picture

That is, as they say, only the exception that proves the rule.

PS: Indian food was not invented in Britain.  Steak and kidney pie, and bangers and mash, and Marmite, on the other hand, were.

Sun, 05/05/2013 - 15:53 | 3532589 KrugerrandFan
KrugerrandFan's picture

What you said about British food was right........back in 1970.  You are a bit of a tool though arn't you? 

Mon, 05/06/2013 - 07:13 | 3533660 justinius1969
justinius1969's picture

and the last time you visited the UK was....?

Mon, 05/06/2013 - 12:53 | 3534513 green888
green888's picture

Exceptio testarum regulam- the exception tests the rule, the "as they say" bit is illogical 

Sun, 05/05/2013 - 15:40 | 3532565 Boeing Boy
Boeing Boy's picture

Can't wait to visit US next week so I can eat at Denny's

Sun, 05/05/2013 - 15:47 | 3532573 akak
akak's picture

Fair point.

I would hardly claim that the USA is the epitome of culinary exceptionalism, as mass-produced slop and "fast food" is increasingly the norm.  Still, it is a virtual gastonomic paradise compared to the wasteland that is Britain.

Sun, 05/05/2013 - 16:07 | 3532610 Wile-E-Coyote
Wile-E-Coyote's picture

 You have never visited the UK have you. The UK has now some of the best food in Europe, even the French admit that. So stop talking out of your ass hole.

Sun, 05/05/2013 - 16:18 | 3532639 James_Cole
James_Cole's picture

Depending on where you go the UK has great food & bad food, same goes for America - great food & bad food. Dumb argument........ 

Sun, 05/05/2013 - 16:28 | 3532654 akak
akak's picture

As usual, James, your argument is lacking in any kind of logical rigor.

Of course there is good food and bad food, in EVERY nation.  I am merely claiming that the AVERAGE quality of the cuisine in the UK, from what I have experienced, is noticeably if not significantly lower than that in the USA.  The Brits have traditionally never been a very discriminating or culinarily demanding people, and while that tradition has undoubtedly been modified in the last few decades, the basic trend towards gastronimic mediocrity still remains.

Sun, 05/05/2013 - 16:38 | 3532670 James_Cole
James_Cole's picture

The Brits have traditionally never been a very discriminating or culinarily demanding people, and while that tradition has undoubtedly been modified in the last few decades, the basic trend towards gastronimic mediocrity still remains.

I apologize for not possessing the 'logical rigor' to broadly stereotype the diverse and long gastronomical history of the UK.

Sun, 05/05/2013 - 17:19 | 3532725 akak
akak's picture

Making factual distinctions, and pointing out valid relative and general differences, is hardly stereotyping.

But such nuances of logic seem to routinely escape James Cole --- much like your seeming inability to discern that the Asian demand for gold jewelry is primarily ALSO, at the very same time, primarly an investment demand for gold, as opposed to mere baubles.

Sun, 05/05/2013 - 18:17 | 3532807 James_Cole
James_Cole's picture

Brits have traditionally never been a very discriminating or culinarily demanding people

The height of nuance.

Mon, 05/06/2013 - 07:11 | 3533659 Shevva
Shevva's picture

Yer the US is so good at food they use Gordon Ramsey.

Sun, 05/05/2013 - 17:53 | 3532775 Umh
Umh's picture

Nothing was good. They can make steak taste bad and fish too while we're at it.

Sun, 05/05/2013 - 16:14 | 3532631 RS2OOO
RS2OOO's picture

As a Brit, I'm afraid I have to agree, our food must be bad.

Judging by the obesity figures I guess the food in the U.S is so good, they can't stop eating it.


Sun, 05/05/2013 - 17:56 | 3532780 Umh
Umh's picture

That's a fair point. I do now some thin people who eat food so bland that they would never miss it.

Sun, 05/05/2013 - 18:33 | 3532823 Dyhana
Dyhana's picture

I loved the tea shops. Brits do some nice desserts. Trifle, brandy snaps, treacle tart, syllabub, scones....

Sun, 05/05/2013 - 17:15 | 3532718 Arrowflinger
Arrowflinger's picture

One out of six whacks rats for breakfast

Sun, 05/05/2013 - 18:15 | 3532805 Groundhog Day
Groundhog Day's picture

But I thought london was the land of infinite re-hypothication.  I guess they havn't figured out how to rehypothicate food yet.

Sun, 05/05/2013 - 12:12 | 3532081 true brain
true brain's picture

Obama needs to give them SNAP as well. After all, deficits don't matter.

Another sign that humanity fails miserably at all levels. Human aren't capable, or willing to take care of its own kind. Pathetic.

Sun, 05/05/2013 - 12:13 | 3532084 CH1
CH1's picture

Obama needs to give them SNAP as well.

Dude... Obama PHONES!

Sun, 05/05/2013 - 17:20 | 3532729 MisterMousePotato
MisterMousePotato's picture

All you Brits gotta do is pretend to be Mexican FTW!!

Sun, 05/05/2013 - 12:17 | 3532099 yogibear
yogibear's picture

Obama would only do that if they could vote for his party members.

Chicago had plenty of ghost voters in the last 50 years.

Sun, 05/05/2013 - 12:44 | 3532137 freewolf7
freewolf7's picture

The banks have your grocery money,
but it's being used for prostitutes.
Explain that to the kids,
ask 'em what they think
you should do.

Sun, 05/05/2013 - 13:42 | 3532239 Abraxas
Abraxas's picture

"One-In-Five Britons Borrow Money To Afford To Eat"

Why be so negative? 4 in 5 can eat without borrowing. Always look at the bright side of life.

Sun, 05/05/2013 - 15:22 | 3532264 Mine Is Bigger
Mine Is Bigger's picture

I am afraid you read the news wrong.  Four in five Brintons cannot borrow money.  One in five still being able to borrow money to eat is the good news!!!

Sun, 05/05/2013 - 15:05 | 3532488 FeralSerf
FeralSerf's picture

Many more than one-in-five Americans borrow money to eat when they're in Britain.  Check their credit card statements.

Sun, 05/05/2013 - 20:53 | 3533121 philipat
philipat's picture

So you're saying that the solution for The UK is just to continue printing and running ever-larger defecits? Your other items today:

suggest otherwise. And you can't have it both ways. So, which is it: continue printing and spending until it all collapses or try to restore a measure of fiscal responsibility?

Sun, 05/05/2013 - 12:13 | 3532085 LawsofPhysics
LawsofPhysics's picture

The Brits are among the best sheep in the world.  They will do whatever the bankers tell them.  In this case the banker's success will be their own undoing.  Going to be fun watching this tiny island implode.  In the grand scheme of things it is in fact a tiny island, despite the many world loyalties (Windsors, Lloyds, etc.).  Unfortunately all eCONomies are really local, especially when supply lines break.  How much of Englands energy and other essential commodities are imported again? 

Sun, 05/05/2013 - 12:17 | 3532096 Motorhead
Motorhead's picture

You hit the nail on the head with "imported commodities".  I mean, look at the Premier League...alll KINDS of foreign players.

Sun, 05/05/2013 - 12:55 | 3532157 Rory_Breaker
Rory_Breaker's picture

LMAO! +1

Sun, 05/05/2013 - 12:18 | 3532103 Kreditanstalt
Kreditanstalt's picture


Sun, 05/05/2013 - 12:45 | 3532140 Bananamerican
Bananamerican's picture

ah, but at what?

Sun, 05/05/2013 - 12:49 | 3532143 Edward Fiatski
Edward Fiatski's picture

At being cum buckets for Royal Load.

Sun, 05/05/2013 - 13:11 | 3532188 _ConanTheLibert...
_ConanTheLibertarian_'s picture

That was naughty hehe. I had to giggle.

Sun, 05/05/2013 - 15:24 | 3532531 Colonial Intent
Colonial Intent's picture

Ahh england, where being a republican is grounds for a (preventative) arrest three days before the royal wedding.


Sun, 05/05/2013 - 13:46 | 3532247 Mr. Magniloquent
Mr. Magniloquent's picture

None of you must be familiar enough with "V for Vendetta" to understand the irony of this comment.

Sun, 05/05/2013 - 12:31 | 3532110 Edward Fiatski
Edward Fiatski's picture

Are you suggesting a repeat of events of 1381*? HA!

Peasants will eat their peas and canned catfood and love it.

*The rulers' answer to that would be 1666 - To Burn the City once again; reposses the land, reduce the peasant population. ;-)

Sun, 05/05/2013 - 13:48 | 3532250 Motorhead
Motorhead's picture


Sun, 05/05/2013 - 15:19 | 3532518 Colonial Intent
Colonial Intent's picture

Navigare necesse est, vivere non est necesse.

(Keep the seas we must, if we may live)


All we have is shotguns and longbows.

No 2nd amendment for us......

Sun, 05/05/2013 - 16:11 | 3532615 Wile-E-Coyote
Wile-E-Coyote's picture

Lol............ who owns the FED, the BOE. You will go before the UK.

Sun, 05/05/2013 - 12:15 | 3532090 yogibear
yogibear's picture

Come to the US. The politicians are looking for more voters. The US goal is to have over 50 million people on Food stamps. Their going to vote those in that promse more Freebies.

Rubio want's to give free cell phiones for those illegals coming in from Mexico.

So many illegal immigrants are collecting freebies. What other countries keep offering more for illegals.

Sun, 05/05/2013 - 13:58 | 3532283 DosZap
DosZap's picture

Rubio want's to give free cell phiones for those illegals coming in from Mexico.


Obummer already beat him to that, long ago.

Sun, 05/05/2013 - 15:25 | 3532534 Colonial Intent
Colonial Intent's picture

Reagan started it.

Sun, 05/05/2013 - 19:29 | 3532925 Pure Evil
Pure Evil's picture

Actually, Ted Kennedy kicked open the door in 1965.

Sun, 05/05/2013 - 15:40 | 3532566 Colonel Jessup
Colonel Jessup's picture

We are already over 50 million people on food stamps. Obama has checked that box. The real plan here is to introduce the NWO by creating dependence on government, getting rid of nationalism, and blurring the lines between national boundaries - hence the lack of border enforcement down south with Mexico,

They will create crushing debt by allowing every illegal immigrant here to get food stamps immediately, all in the name of humanitarian aid. When I fact, it just helps to implode the economy and create dependence that much faster. Check Rubio's legislation, illegals will gave immediate eligibility for aid as soon as they cross the border.

They are doing the same thing in the EU.

Sun, 05/05/2013 - 12:15 | 3532092 Kreditanstalt
Kreditanstalt's picture

"This incompetent government needs to wake up to the human cost of their failed economic policies and change course now..."

You shouldn't quote Labour Party propaganda and accept it as rational truth.

And...what significant difference would there be with a Labour government faced with paying the bills, taxing and supporting a social welfare state and a Tory one doing the same?

Not much.

Sun, 05/05/2013 - 12:17 | 3532093 i-dog
i-dog's picture


"this incompetent government needs to wake up to the human cost of their failed economic policies."

That's rich ... coming from Labour!!! (Though it's also true ... both sides are incompetent scum).

Sun, 05/05/2013 - 12:16 | 3532095 dannyboy
dannyboy's picture

Hence why UKIP is doing so well! :)

Sun, 05/05/2013 - 15:31 | 3532548 Colonial Intent
Colonial Intent's picture

Ukip is doing well cos the murdoch press is scared of the leveson enquiry and will back anyone to stop any new press laws.

Kinda like the mail and telegraph backing hitler in the 30's


Sun, 05/05/2013 - 17:01 | 3532708 Aurora Ex Machina
Aurora Ex Machina's picture

Yeah, no. You'll need to know a little bit about things like Searchlight and MI5 funding of anti-right wing groups in the UK first.

Try this for size for a trip down the rabbit hole regarding funding, politics and skullduggery in the petri dish.


Synopsis: the BNP and EDL etc are a) not what the establishment wants and b) full of undercover spooks anyhow. UKIP is acceptable blow-back to austerity measures, and has probably already cut deals. If you want a taste, the local council tag-line ran with scare ads over "millions of Romanian and Bulgarian workers entering the UK".


It worked, which is sad, but who claimed Democracy was functional.

Sun, 05/05/2013 - 12:20 | 3532104 ak_khanna
ak_khanna's picture

The incomes of the middle class are falling because the politicians elected by them make rules for the benefit of and work for the real rulers of the world, the top richest 1% of the population and the major contributors to their election fund. They bail out the bankers and the rich corporatio­­­­­­­­­ns (who should not be in business because of their incompetence­) without even changing their previous management because they fund the election campaigns and also place them in their organisati­­­­­­­­­on­s at exorbitant salaries once they leave office. This class along with the rich individual­­­­­­­­­s pay the minimum amount of tax while getting the maximum benefit of the tax collected from the rest of the population in the form of bailouts.

Sun, 05/05/2013 - 12:48 | 3532148 Bananamerican
Bananamerican's picture

or, it's just the age old "inflate away .gov/banker debts on the backs of the people"... 

Sun, 05/05/2013 - 12:23 | 3532109 MythicalFish
MythicalFish's picture

8% are in default? (from chart)


Quick, slice the student loans and sell them off as triple-A debt before the muppets smell a rat!


Sun, 05/05/2013 - 12:26 | 3532116 Caviar Emptor
Caviar Emptor's picture

Now now, children. Be thankful and know your place. By the way, I heard that being a butler or a valet provides room and board with good food. Stable boys have lots of fun, maybe you could consider that

Sun, 05/05/2013 - 12:33 | 3532121 CheapBastard
CheapBastard's picture

Record house prices and yet 1/5 can't afford to eat.....mmmm...sumthins wrong.


50,000,000 in USA on food stamps.....mmmm...sumthins wrong .....


The Middle Class private sector is getting crushed it looks like with stagnant (or falling) wages and diminishing benefits from one end while seeing increasing costs in medical, food, property taxes, insurance, tuition, and so on....


There must be name for this Squeeze Play on the Middle Class.....anyone?



Sun, 05/05/2013 - 13:07 | 3532181 DavidC
DavidC's picture

Yes. Anal rape.


Sun, 05/05/2013 - 13:20 | 3532207 StarTedStackin'
StarTedStackin''s picture

Yet nobody in the mainstream media blames any of this on the Obowel Movement.............

 I guess QE 1 - FOUReva were all "Busch's fault", as well as the skyrocketing of commodities prices that came with it!




If it happened "on his watch" it was Bush's fault!



Yep, no such thing as a biased media.......



Trust them when they repeat over and over that both parties are the same.....

Sun, 05/05/2013 - 16:13 | 3532630 Wile-E-Coyote
Wile-E-Coyote's picture

The only place house prices are going up in the UK is London, lots of European money fleeing to London. House prices outside London have fallen 5% in the last year.

Sun, 05/05/2013 - 20:47 | 3533109 monad
monad's picture

Fwd soviet!

Sun, 05/05/2013 - 12:40 | 3532134 Racer
Racer's picture

It was Labour's stupid mis-management by Bliar and (sold gold at the lows) Brown who mismanaged it so we got into this mess, this government are trying to pick up the pieces of a shattered economy they left behind

Sun, 05/05/2013 - 13:09 | 3532185 DavidC
DavidC's picture

Correct racer, but this government is no better, Osborne ("boo me at the Olympics") is a fool (unfortunately one, politically at least, in charge of the Treasury).


Sun, 05/05/2013 - 15:35 | 3532557 Colonial Intent
Colonial Intent's picture

Yes he is a fool, but he's a loyal fool so cameron keeps him on because he thinks increasing the financial sectors share of gdp will bring us out of recession......yeah i know he's as much of a fool as osborne.

Sun, 05/05/2013 - 12:45 | 3532139 Curt W
Curt W's picture

Cinco de Mayo  I'm going out for burritos and nachos.

Sun, 05/05/2013 - 12:46 | 3532142 GottaBKiddn
GottaBKiddn's picture

This is not a "failed economic policy"!! It is perhaps the most successful global undertaking ever perpetrated upon the general population. (The general population that is composed of confined sheeple.) It is not a mistake, or misunderstanding of economics.

Sun, 05/05/2013 - 12:48 | 3532149 Edward Fiatski
Edward Fiatski's picture

Spreading the wealth around. ;-]

Sun, 05/05/2013 - 14:26 | 3532352 Anusocracy
Anusocracy's picture

It's how government has been working for 10,000 or so years.


Sun, 05/05/2013 - 13:14 | 3532147 THE DORK OF CORK
THE DORK OF CORK's picture

Its a crisis of primary & basic secondary production beginning since at least 1970.

Disguised by North Sea production which is now in terminal decline.

The rich who mainly live in the south can afford to buy imported goods , but only if they reduce the domestic working populations labour value to zero.


The house prices is a record of the net physical goods or wealth flowing into the country.

They function much like a battery - recharged from a outside socket.

At £106 billion sterling or 6.9 % of GDP in 2012.


When Spain ,Ireland etc etc was pushed into extreme physical surplus their house prices dived.


Its all about the consumption of phyiscal goods.

The debt is but a instrument.

Sun, 05/05/2013 - 12:56 | 3532151 Monedas
Monedas's picture

Oh the humanity .... we're all living on BORROWED TIME ?  How many clueless Obamakinder use their student loan money to buy food .... and their food stamp money for drugs ?  1 in 5 Britons have escaped from a  black hole .... or the poorest neighborhoods of Calcutta !

Sun, 05/05/2013 - 12:54 | 3532156 Fix It Again Timmy
Fix It Again Timmy's picture

All governments are incompetent; all governments are asleep - get used to it......

Sun, 05/05/2013 - 12:57 | 3532161 TheMeatTrapper
TheMeatTrapper's picture

Notice that single women are the hardest hit. The destruction of the family and the denigration of the man as head of the household has a price, and they are paying for their folly; just as we here are.

The men need to be be men and learn how to provide; and the women need to recognize and respect the role of the man. 

I haven't purchased red meat in two years. I know how to provide food for the table, regardless of income. 


Learn To Trap

Sun, 05/05/2013 - 13:45 | 3532244 espirit
espirit's picture

What happens when you run out of OPC's?

(other peoples cats)

Sun, 05/05/2013 - 18:59 | 3532861 Aurora Ex Machina
Aurora Ex Machina's picture

That was epic, certainly my favourite comment of the week.

Sun, 05/05/2013 - 19:34 | 3532939 Pure Evil
Pure Evil's picture

You start eating their dogs.

Sun, 05/05/2013 - 14:40 | 3532399 InTheLandOfTheBlind
InTheLandOfTheBlind's picture

Don't we just love feminism?

Sun, 05/05/2013 - 15:52 | 3532584 Acet
Acet's picture

It's more to do with the fact that for all their overt anti-discrimination laws the Brits are in fact very sexist.

The way sexism works here is through the belief that women are weak, fragile creatures, so they can't really stand the rigors of hearing the truth, much less be in positions of responsability. If effect, this means that men are more likelly to get the better jobs.

Sun, 05/05/2013 - 12:59 | 3532166 MFLTucson
MFLTucson's picture

Why don't they move here so dumbo can give them free food?

Sun, 05/05/2013 - 13:07 | 3532167 Monedas
Monedas's picture

If a nuclear holocaust happened .... I think I would breathe .... a sigh of relief .... "Is that all there is, my friend .... then let's keep dancing .... let's bring out the booze .... and have a ball .... if that's all .... there is ?" .... Peggy Lee !   

Sun, 05/05/2013 - 13:05 | 3532176 IridiumRebel
IridiumRebel's picture

Delicious Horse!

Sun, 05/05/2013 - 13:07 | 3532180 moneybots
moneybots's picture

"this incompetent government needs to wake up to the human cost of their failed economic policies."


Sorry, for a moment i thought he was talkiing about the U.S. government.

Sun, 05/05/2013 - 13:08 | 3532183 StarTedStackin'
StarTedStackin''s picture

This has absolutely nothing do with the Obowel Movement printing money.......



Both parties are exactly the same.....




Sun, 05/05/2013 - 13:10 | 3532184 RKDS
RKDS's picture

The fools!  If only the evil government would give just a little more to the idle rich, the world would be saved for infinity and beyond!

Sun, 05/05/2013 - 13:09 | 3532186 cherry picker
cherry picker's picture

"this incompetent government needs to wake up to the human cost of their failed economic policies."

That is true for most countries, including the USA.  Too much military spending all over the world, too much graft, overpaid civil servants and golden pensions.

Health care systems which are out of control and broken.

It is impossible for the most part to fix it by committee which is how government deals with these things.

Is there an answer.  Yes.

Maybe we should design computer software to make the decisions that we allow our governments to make.  We may have a more efficient, humanitarian result without greed, self interest, ego or hate entering the picture.

Sun, 05/05/2013 - 18:19 | 3532810 Clycntct
Clycntct's picture

Hal? is that you?

Sun, 05/05/2013 - 13:16 | 3532199 JustObserving
JustObserving's picture

While Britons go hungry, the Queen got a raise on April 3, 2013:

 Must be nice to be Queen Elizabeth: Taxpayers just gave her a $7.5 million raise. As the APexplains, taxpayer funds cover her official duties and travel, the running of her household, and the maintenance of the royal palaces, and the "sovereign grant" has been set at more than $54.5 million for the 2013-2014 financial year. Last year's $47 million was already an inflated amount, as it included more than $1.5 million to cover the cost of the queen's Diamond Jubilee, the Guardian reports.

Sun, 05/05/2013 - 15:16 | 3532511 Real Estate Geek
Real Estate Geek's picture

That's actually not much money at all. Charge tourists an extra quid for watching the change of the guard, viewing the crown jewels, etc., and it's paid for.

Sun, 05/05/2013 - 13:19 | 3532211 Seasmoke
Seasmoke's picture

Fish & Lost all your Chips

Sun, 05/05/2013 - 13:22 | 3532212 Ignorance is bliss
Ignorance is bliss's picture

Good thing the British people are unarmed. 

Sun, 05/05/2013 - 14:59 | 3532376 DosZap
DosZap's picture

Good thing the British people are unarmed.

They have always BEEN unarmed,their fascist government has never allowed Brits to own REAL weapons.

All the way back to WWII, American citizens sent personal firearms to help their cause(why?, because the British Gov always disarmed the populace).And did so immediately AGAIN after WWII was won.

Sun, 05/05/2013 - 13:21 | 3532213 I am Jobe
I am Jobe's picture

JPM needs to run the SNAP Scam in Britain.

Need the Obama Phones to help Carlos Slim prosper

Need Warren Buffet to go have his annual meeting to scam investors in Europe .

USSA has perfected the art and need to ensure the Brits are not left ehind in the idiocy

Sun, 05/05/2013 - 13:28 | 3532221 earleflorida
earleflorida's picture

... it's just a matter of principle?

yes, moral and financial principle as in symbiosis survival!

... the people are being forced by the 'invisable hand' to participate in a race to the bottom where the few at the top apply the 'plunger'... and yet, their anquish is but the fuel that--

'screws`thee, thy one and all's piety to the mantle's' hearth... all of life's condenced disparity be judged-- lest you roar like a wounded whore for justice... sodomized by satan'?!

Sun, 05/05/2013 - 13:27 | 3532223 yogibear
yogibear's picture

Sorry Brits, along with asset prices, food prices are going to go much higher, thanks to central bankster printing.

I notice restaurants cutting back on portion amounts to save.

Inflation creep while government stats hide the numbers. 

Sun, 05/05/2013 - 13:34 | 3532234 earleflorida
earleflorida's picture

repackaging... the new illusion?

the new math where 16 oz. [pound$?] equals [=] 12 oz. [your two-bits worth gone?]

any question's, please refer to 'weight's and measure's'

Sun, 05/05/2013 - 13:41 | 3532231 THE DORK OF CORK
THE DORK OF CORK's picture


The first graph is very interesting.
Residential buildings & financial assets of households forms the bulk of these assets.

But if you think of these assets as claims on external wealth or productive capacity outside the UK the extreme nature of the UK becomes all too real.


It must destroy Ireland and Spain to sustain real goods coming into the UK but this action also destroys its income.
Its a Catch 22.

We are witnessing the failure of the Anglo model ,the Anglo world.
It has stripped Europe of its wealth…….the jewel of the crown , the eurozone is now a deadzone.

“For Christ sake, John. Don’t be scared. ? Go on and eat your cookies.”



Sun, 05/05/2013 - 19:19 | 3532905 Village-idiot
Village-idiot's picture

I do not see this as a failure of the Anglo model/world. This happening all around the world.

I see this as a failure of bankrupt socialism around the world. Too many people think they can steal and spend other people's  property and money instead of actually working for a living.

This whole system started to degrade just after WWII when the Labour party was first elected. Anyone who cannot face facts will learn nothing from all this.

It's now too late to prevent the inevitable; a massive deflationary depression is about to envelope the western world.

Better start digging up that "perfect" lawn and plant potatos!

Mon, 05/06/2013 - 05:04 | 3533580 THE DORK OF CORK
THE DORK OF CORK's picture


The UK previous to WW II was in physical deficit to places such as India.

In many ways the post war Socialist government increased domestic productivity which is needed when you lose your colonies.


However wealth from your domestic hinterland will never be that much on a small island.


The people in the UK who wanted to turn back the clock to the 19th century needed a mechanism to recycle external surplus goods.


This was of course the Big Bang.

A financial method of accounting which consumes external goods flowing into London.


Hint ......the EC was /is the UKs modern India.


Think of Ireland as the first model for such operations.


The southern ports of Ireland pre tudor times traded our Butter and Beef for Spanish  wine.

We were in some sort of trade balance with the outside world.


England under Cromwell forced Ireland to export its food to England.

But we got little in return.

We were driven into surplus as Ireland was turned into a ranch.

Without Ireland or western Scotland England would not have had enough free external goods  to undertake the

Industrial Revolution
Mon, 05/06/2013 - 07:21 | 3533664 Henry Hub
Henry Hub's picture

***Think of Ireland as the first model for such operations.***

There was a book written in the 1950's or 60's referring to the Irish as the "white niggers of Europe". It took the Irish six hundred years to throw off the English jackboot on their necks. Then in a short space of time, they turn around and willing accepted servitude again through the banking system. It's kind of sad.

Mon, 05/06/2013 - 07:25 | 3533667 Henry Hub
Henry Hub's picture

By the way the same jackboot has been on the necks of the average Englishman by their Aristocracy for just as long.

Mon, 05/06/2013 - 07:47 | 3533688 THE DORK OF CORK
THE DORK OF CORK's picture




When the Normans settled in Dingle, the harbour began to evolve as a major trading point in the South West of Ireland.   The principal exports from the town were wool, hides, salt meat, fish and butter.   The chief imports were wine, salt, coal and articles of clothing.  An Act of Parliament was passed in 1569 which limited the number of ports through which wines could be imported.   Dingle was listed among the towns in this Act and is referred to as “Dingle Husey otherwise called Dingle I Couch”

Dingle reached the highest point of its importance in the course of the sixteenth century.   It was one of the great trading ports of the south.  Continental wine ships and other merchant vessels plied in and out of the harbour, tying up at the Spanish pier, (presently Dingle Marina).  Dingle was the main embarkation port for the great pilgrimage to the shrine of St. James at Compostella in Spain.  

Strong commercial links developed between Dingle and Spain throughout the sixteenth century.   Several of the Houses in Dingle were built in the Spanish fashion, with ranges of stone balconies and marble door and window frames.  Inserted in the walls of houses in Green Street are stones with curious carvings which are still well preserved.  One of these has the date 1586 prominent on it.  The others are more ornate and depict birds.   It is believed that these stones are survivals from a bygone age and the houses of the Spanish merchants who settled in Dingle at that time.

The parish church of St. James is said to have been built by the Spaniards around the time of the great medieval pilgrimage to the shrine of St. James of Compostella, and was dedicated to St. James the patron Saint of Spain.  When the Reformation reached Dingle in the 16th century, the church passed into Protestant hands.

In 1529 Charles V, King of Spain and Emperor of the Holy Roman Empire, sent his personal envoy, Gonzalo Fernandes to Dingle to parley with the Earl of Desmond.   An account of this meeting shows that the Earl wished to forge a political and military alliance with Spain and to have weapons and aid sent over from Spain to help the Earl rebel against England



The Tudor objective was quite clear



Sun, 05/05/2013 - 14:10 | 3532310 q99x2
q99x2's picture

Lots of political opportunities ahead.

Sun, 05/05/2013 - 14:16 | 3532326 reload
reload's picture

The first to stand on a platform of lower taxation and a ballanced budget can have my vote. Anything else is just noise.

Sun, 05/05/2013 - 14:16 | 3532320 dolph9
dolph9's picture

Brits are firmly within the American orbit and therefore they only know how to do a couple of things now:  shove money to bankers and allow unlimited immigration in the name of "growth" as if they are a wide open country and not the small crowded island that they are.

Unless they control the bankers and stop immigration, they'll starve.  This will happen to them faster than it will happen to America, but it will happen here too sooner or later.

Sun, 05/05/2013 - 14:29 | 3532370 monad
monad's picture

Thats anti-indoeuropean.

Sun, 05/05/2013 - 15:49 | 3532579 akak
akak's picture

US 'american' Indo-European-Easter-Island Citizenism is the mattering thing.

Sun, 05/05/2013 - 14:35 | 3532383 syntaxterror
syntaxterror's picture

But Banana Ben makes it cheap to borrow! so there's good news to this story too!

Sun, 05/05/2013 - 15:20 | 3532519 Peter Pan
Peter Pan's picture

If the govt can achieve a slow downward decline it is likely that the sheeple will continue to stay quiet and accept their lot. As long as the elite stay a little quiet and do not make ostentatious displays of wealth and hednism, then the show will go on.

Sun, 05/05/2013 - 16:08 | 3532612 maneco
maneco's picture

Ipad prices are going down though according to William Dudley!

Sun, 05/05/2013 - 16:29 | 3532619 NuYawkFrankie
NuYawkFrankie's picture

Re One-In-Five Britons Borrow Money To Afford To Eat


And yet these same dumb-phuck Brits send off their sons to fight the wars of the same scammers that have engineereed their poverty & who've been ripping them off for generations.

Same goes for the dumb-phuck Yanks.

Sun, 05/05/2013 - 16:32 | 3532659 orangegeek
orangegeek's picture

But the Royals are doing just fine - so everything will be all right.

Sun, 05/05/2013 - 17:27 | 3532739 Iam Yue2
Iam Yue2's picture

Hey; who cares? House prices in Tory Maidenhead up 5% y/y.

Sun, 05/05/2013 - 17:53 | 3532773 buzzsaw99
buzzsaw99's picture

When shearing comes lay down your drums
Step on the board you brand new chums
With a ra-dum ra-dum rub-a-dub-dub
Send him home in a lime juice tub

Here we are in OLD South Wales
Shearing the sheep as big as whales
With leather necks and daggy tails
And hides as tough as rusty nails

Now you have crossed the briny deep
You fancy you can shear a sheep
With a ra-dum ra-dum rub-a-dub-dub
Bankers send you home in lime juice tub...

Sun, 05/05/2013 - 19:13 | 3532886 sethstorm
sethstorm's picture

The wages of austerity.

Sun, 05/05/2013 - 19:24 | 3532918 Village-idiot
Village-idiot's picture

People, you'd better get a hold of Grandpa and Grandma. Get them moved in so as to teach you how to grow veggies and to cook cheap, nutritious meals a la WWII food rationing.

Get rid of the "idiot-box", dig up that lawn and plant some spuds. It just may save your life, and the exercise will do you good.

Sun, 05/05/2013 - 20:49 | 3533113 WTFUD
WTFUD's picture

We're caught in a trap.

Mon, 05/06/2013 - 05:14 | 3533593 Bearwagon
Bearwagon's picture

+1 for the King

Mon, 05/06/2013 - 02:55 | 3533528 Ghordius
Ghordius's picture

...blame the EUR for this, too?

Mon, 05/06/2013 - 03:52 | 3533546 ft65
ft65's picture

I work for a (now) Indian owned "UK" company who supply major high street supermarkets with pack lunches. We employ large amount of agency workers (read economic migrants) who pay national minimum wages. They hand out government benefit entitlement leaflets showing what they can claim. We supply pack lunches to supermarkets, made by economic migrant workers subsidised by the tax payer to high street chains, so they can sell profitable (government subsidised) pack lunches that would otherwise be too expensive to afford by most who buy them. The biggest irony is the company canteen has a vending machine selling over-makes at 10 - 20 % of the retail value, and people on minimum wage still don't buy them. They have now moved all our accounts functions (jobs) "off-shore" to India.


This whole command and control economy is f***ing unsustainable but WTF, so long as house prices and the stock market don't drop and the unemployed 16 - 26 year olds have their smart phones Facebook and free music concerts in the summer - to prevent them going on looting sprees.


Bread and Circus'. I call bullshit on this survey / article! People just like to bitch about how unaffordable everything is while doting on their kid's every whim.

Mon, 05/06/2013 - 03:48 | 3533547 ft65
ft65's picture


Mon, 05/06/2013 - 07:53 | 3533696 Ckierst1
Ckierst1's picture

I'll gladly pay you Tuesday for a Hamburger today.


I guess it is all a form of penance for not killing Keynes in his crib.

Mon, 05/06/2013 - 08:02 | 3533705 SocialismIsCancer
SocialismIsCancer's picture

I am wondering how many Britons are borrowing money to inhale the fumes of burning vegetation, ie smoke cigarettes.

Mon, 05/06/2013 - 11:43 | 3534290 dadichris
dadichris's picture

"this incompetent government needs to wake up to the human cost of their failed economic policies" - blaming the wrong party bud. the Government doesn't set economic policy - the privately owned non-elected Central Bank does.

Mon, 05/06/2013 - 14:18 | 3534794 tom74
tom74's picture

And how many of these people drink, smoke and have satellite TV? 

Tue, 05/07/2013 - 08:21 | 3537039 yellowsub
yellowsub's picture

That's how you drive the economy by borrowing and spending, look how great it worked out for us.

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