Wednesday, Sep 16, 2009
Lots of Big Numbers for a small country equals less money for mortgage payments!
Times: Treasury leak reveals jaw-dropping forecasts on cost of recession
Worst thing is that these figures are already probably out of date!
Posted by enuii @ 11:23 PM (781 views) Add Comment
5 Comments
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1. quiet guy said...
In my typical day-to-day experience, I don't get the impression that anybody is worried about the future or is willing to contemplate any serious sacrifice in living standards. We're going to keep on borrowing as long as we possibly can. This is beginning to look like a race to me; will the US dollar or Sterling be the first currency to experience a crisis?
2. devo said...
"will the US dollar or Sterling be the first currency to experience a crisis?"
Global economy; Global collapse.
3. uncle tom said...
Devo,
Why global collapse? Global re-balancing is more the order of the day.
Rich countries find they are not as rich as they thought, their currencies devalue, and they have to pay poor countries more for the goods they make. Poor countries get richer, use more commodities, so rich countries see rapid increases in commodity prices.
Rich countries see heavy inflation, interest rates, and debt default.
Rich people in poor countries see their savings in foreign currency all but destroyed, but the ordinary people come up smiling.
From a moral standpoint, the global outlook actually looks quite rosy, although the world's population growth could spoil the party..
4. inbreda said...
don't you just love the times readership. 4th comment down blames it all on immigrants!!
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