Wednesday, Nov 19, 2008
Is Britain set to turn into Japan?
MoneyWeek: Is Britain set to turn into Japan?
Latest figures show that prices in the UK are falling at the fastest rate for 20 years. It's good news that essentials such as petrol and food are getting cheaper, but there's a dark side to falling prices - we could soon be in serious danger of a Japan-style deflationary slump.
Posted by damien @ 11:57 AM (538 views) Add Comment
6 Comments
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1. rm96696 said...
Britain will not become another Japan. Japan had a lot more going for it: a growing world economy, strong manufacturing base and world class companies, large savings pool and first rate educational system. Britain has none of these things. It is more like Iceland.
2. last_days_of_disco said...
Gold rampers seem to have all gone quiet. Wonder why?
3. Puppee said...
we are in a worse position than japan ever was as they have massive manufacturing base we have none because the torie's stripped this country of everything then this govt finished it off welcome to third world britain
4. Tennouji said...
rm96696: I agree with everything you say, save about Japan's educational system. Coming from someone who works within it, believe me it couldn't even be termed second rate.
5. Minx_man said...
as someone who lived in Japan during their "recession" I can tell you that to the average Joe it was business as usual. It was the elite who "suffered" by having their bonus of 6months salary dropped to one month. But I echo points made by other readers, Britain will never be like Japan no matter what happens.
6. str 2007 said...
LDOD
How you doing ?
Interesting comment there, I've been out all day and notice you made that comment justas Gold jumped in price almost vertically (on the Kitco chart) in US dollars.
The price of Gold in Sterling is hovering around £500/oz almost an all time high and about 12% more than it was a couple of weeks ago in sterling (I was thinking of gettin a bit a couple of weeks ago - worried about the big rate cut and drop in Sterling).
Your post implies Gold has or is about to go down is that because of deflation or were you refering to something else ?