Thursday, January 22, 2009

Where art thou, Polonius?

From today's NY Times:

Even more than their American counterparts, borrowers in Britain turned
to local banks to fuel a real estate boom that was as much a national
pastime as a rational decision about what to buy. Household debt as a
percentage of disposable income hit 177 percent
in 2007, compared with
141 percent in the United States.

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