[Mad_Tom_Rackham]

Vacations, home remodeling, cars, boats, toys, etc. Does it take a PHD in Economics to figure THIS out?

[Claud]

Because as the chart shows, the surge in Britain's household debt ratio starting 10 years ago coincided with a marked slowdown in consumer spending growth.

That money is now going to something REALLY useful: debt servicing.

Yee-haa..it's a service economy!