US doesn't look better, while in Germany almost no new (netto)credits are taken, so Germany is going the deflationary way on a lower debt level that has yet to come in UK & USA after their debt rise has stopped as at any time such a livel will be unbearable.
You can read the chart by this way: <b>British households financed from 2001 to 2003 about 15% of their spendings by credit</b>, so what if they are not able to get new credits.... deflationary tendencies!
Now add peak oil to this scenario! This could also lead to stagflation which would be only slightly better.
), but i appreciate the effort people make to be cordial and informative.