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I'm becoming a semi regular because of all this! Ambiance is lovely, can't fault the food, they allow us to have a dish each and a drink, or dessert and drink, no pressure to have loads...
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And that depression will get deeper if the cost of debt servicing increases. Lack of clear fiscal strategy means uncertainty in the financial market. This results in markets demanding greater interest rates for new gilt sales. This in turn leads to increasing costs of debt servicing. Unless drastic austerity measures are taken , it becomes a doom loop. Recovery cant be done with more taxes. Major spending cuts have to be made now. That means cuts of around £100 bn per year. Painful? Yes, most certainly, but absolutely necessary. -
We are already in a depression, not a recession.
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