UK Financial

In early 1980's M T started getting rid of the Unions one by one and privatising the companies who had a bad debt problem. Then went into the other ones who were making a profit. This brought out, a different problem. Companies who bought the national ulities found out that they needed cut down on the debit side of their organisation. So we had redundancies rife in the system Then private companiies and government organisations reorganised their organisation creating lots of tax-deductible jobs (YOB scheme). This brought everyone to be employed and in fact we had more jobs than people after a long time. But the thing the gov forgot was that, all these jobs they created are just jobs. It is like a Kennal keeper for hunting in the farming areas or your bank manager. These jobs do not contribute something productive to the people, like manufactured goods, farm goods. So the people started getting more money than they could wish. Then the bankers thought high time to move in and said, who wants credit? Masses applied. Even me with the pittance I used to get from my benefits managed to get a credit card capped at £1000. It is not a great amount, but lots of my friends did land a credit card or two that time. These guys had dodgier credit thhingys than me.