Thursday, Apr 24, 2008
UK in recession by 2009?
MoneyWeek: The UK will be in recession by next year
The economic imbalances in the UK are as severe as in the United States. Jeremy Batstone-Carr looks at the ongoing credit crisis, the mortgage market, employment and savings levels, and the problems in the public sector, and finds that the UK is rapidly heading for recession.
Posted by damien @ 11:42 AM (794 views) Add Comment
10 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. icarus said...
Love the idea that after all the fretting about IRs/monetary policy it's the recession that will rein in inflation.
2. waitingfor hpc said...
one of my suppliers employs over 100 people - THEY HAVE NO WORK - so are closing the plant on Friday & were shut on Monday. We are heading back to 3 day working weeks!
3. cornishman said...
went to the pub last night for a meal. First time in ages. It was extremely quiet. All the barmaids had been laid off and the owner was serving...
4. Rentinginthesouth said...
Went out too last night - but things seemed pretty normal in my neck of the woods! (W Sussex)
5. jack c said...
"We are heading back to 3 day working weeks!" - agreed, economically there are now lots of similarities with the 70's - how long before Darling does a Healey and goes begging to the IMF for a cash handout?
6. cornishman said...
On 4 March 1976 the value of the British pound against the US dollar began to slide in international markets. The slide turned into a rout and triggered a traumatic economic and political crisis. By September confidence in the pound had collapsed; the Labour Government under Prime Minister James Callaghan was forced to turn for help to the International Monetary Fund, a familiar option for Third World countries but unusual for a developed Western economy. This study uncovers the most searing economic crisis of postwar Britain to reveal its historical roots and contemporary context. By the mid-1970's, the weakness and instability of the British economy, caused in part by the 1973 rise in oil prices, was a source of international concern. In April 1975 "The Wall Street Journal" advised investors to get out of sterling under the headline "Good-bye Great Britain". The US Government in particular feared economic crisis would drive Britain into a left-wing siege economy, endangering Nato and the EEC. Anticipating the threat, the US Treasury set out to force Britain to make major domestic policy changes. The sterling crisis provided the opportunity. The IMF provided the weapon.
7. cornishman said...
whoops, cocked that up - try this
link to amazon
8. Btl Rules said...
@ 2 waitingfor hpc
are you a chicken farmer by profession?
9. uncle tom said...
Will there be a recession next year?
- Yes.
10. Axxo said...
Recession is already here!!
I was going to go shopping and cheer myself up yesterday but thought best to save the cash, and instead i was on the phone to the bank trying to refix my mortgage without having to pay £1000 in arrangment fee's... how times have changed, and so quickly!!