Monday, Jul 06, 2009
Why not to buy for a few years yet!
Times Online: In 2009 as in 1931, debts must be repaid
Britain is not free from the laws of finance, which say that debt eventually has to be repaid and cash is king. Gordon Brown will go to the G8 on Wednesday as the leader of what is becoming a debtor nation.
There is no longer a gold standard to maintain, but many of the other factors of the 1931 crisis are present in 2009, including unemployment, public service pay and the recession itself.
Posted by tim miller @ 02:30 AM (251 views) Add Comment
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