'Britain's debt burden has surged past the point at which it harms growth in every area of the nation's borrowing, the Bank for International Settlements (BIS) warned'

from the telegraph..........

""Debt is a two-edged sword. Used wisely and in moderation, it clearly improves welfare," wrote Stephen Cecchetti, head of the monetary and economic department at BIS, and his colleagues in a paper presented at the weekend's Jackson Hole summit. "But, when it is used imprudently and in excess, the result can be disaster".................READ MORE