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Going down


Xena Worried prince

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Nope - not really


Our (and thanks to us and the yanks) the global economy has recently been built on spending way beyond our means built on the foundation of an expectation of increased real income and inflating houseprices and other assets- these particular bubble assumptions have now had a big. big reality check.We are even more screwed becuase a larger part of our economy than most others (excepting Icealand maybe) was built on this bull. People, for now, are realising this so any extra money they get as a result of interest rates cuts (and for savers there isn't any) should be used to reduce the stupid level of debt we have acquired......I expect REAL incomes and houseprices to be declining for upto a decade, most of us better forget about our organic delis/skiing trips and other such indulgencies for some time....

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capital is currently very sick


it will however make a lazarus like recovery sooner than you think with only a bit of amnesia to show for its illness


It will be ion its feet befpre you know it ( despite the repeated gloomy prognosis of BBC economics pundits)

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Tommy - scarily the rest of the world was booming in that decade. I think we are well and truly f*cked...seriously, I'm genuinely worried about my kids future in the UK and completly resigned to the fact that I'll have to work until I die unless I'm happy on ?65 a week...and I'm someone who started a private pension 20 plus years ago....the Public Sector people think they'll escape this but when the UK goes bust they'll pensions will be as useful as a Zimbabwean's civil servant's one. We will be a 2nd world country within a decade or so
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