Japan Tsunami Disaster Impact on UK Personal Debt Problems

On March 22, 2011, in News, by Lewis Alexander
  • free credit report UK from ExperianRecent events in Japan have shocked the world, as one of the most powerful earthquakes ever to strike planet earth sent a tsunami wave to decimate Northern Japan and put a screeching halt to the world’s third largest economy.
  • Since the quake has struck, thousands have been confirmed dead, thousands more are missing, the country’s infrastructure has been devastated and almost 20% has been wiped from the stocks listed on the Nikkei.

In the UK, our favourite topic of conversation is the weather.  However, we are sat in temperate climbs, with only very minor seasonal changes (in comparison to others) and very little in the way of seismic activity.

Perhaps it’s about time we considered ourselves a little more than fortunate!

To watch the devastating pictures of the world’s third largest economic power brought to its knees, certainly for this blog writer, brought home how critical the economic restructuring of the economy in the UK really is.

As the coalition government attempts this restructure, it occurs to me that should such an event have occurred in the North or Atlantic seas then the UK would be condemned to generations of recession, stagflation and a possible return to the Victorian era quality of life.

Over the other side of the world, as billions and billions of Japanese Yen are poured in aid to support the stricken country, these funds are going to need to be matched with determination, engineering expertise, time and patience to spark a recovery. Possibly over the next five years or more.

Sickeningly ironic, is the fact that the economic impacts of the tsunami continue to ripple around the world.  Whilst it does seem somewhat inappropriate to think of oneself during such terrible times, it is perhaps the pressure on oil prices that should be of most concern to the world economy.  With Japan’s status as one of the world’s largest energy importers, this need is only likely to rise in the aftermath of the ongoing nuclear disaster and subsequent reviews.

Almost 30% of Japan’s energy is currently derived from the nuclear industry and with nuclear energy production under question, together with the need for increased energy to support regeneration, this is only going to have one effect on oil prices and thus the upward pressure on UK inflationary figures will place UK households already struggling to make ends meet in even harder financial hardship.

  • In the UK we are also likely to see rising prices of insurance products, increased pressure on pension funds (through the lost value of International and specifically Pacific Rim stocks), and further increased pressure on home energy prices and prices at the pump.
  • This may all leave you remarkably short and starting to struggle with your everyday finances.  If this sounds like you, then it is perhaps time to get in touch with a debt management company to help you review your financial situation.

Here at Lewis Alexander we have debt management specialists available.

By calling 0800 018 6868 you can speak to our experts and start to restructure your own personal finances in what is an increasingly challenging world.

We start by understanding the full details of the commitments you already have and then work with you to understand what you can afford to pay each month.  Once our experts have a view of your complete financial picture we can then look at ways to improve your financial situation and put you in a better position.

The current world economic and geological climate is as challenging as we have ever known it, but by getting organised and being disciplined, Lewis Alexander will try and help you manage any personal debt problem you may have.

  • Call us FREE from a land line today on 0800 018 6868 now.
  • We are waiting for your call!
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