The James Kilgour BlogA Life Blog.

As fuel and food prices soar, we hear more about the “Credit Crunch”, and how we are heading for a recession. But is it our fault? Have the days of spending on credit caused this?

Yes and No. One the one hand, we borrowed what was offered to us, even if it was obvious we couldn’t pay it back, and that was not right. But who was in control? The banks. Their greed in lending irresponsibly has lead to huge debts and the fall in global economy. But who are the ones feeling the burden? Us. Were the ones struggling to pay the bills, as the cost of living has shot up. The banks should take responsible for their actions and be accountable.

JK