Saturday, Sep 18, 2010
Cutting budget deficit will lead to recession
The Telegraph: Investors: get set for the double dip recession ride
Professional investors have returned from their summer breaks in a less than buoyant mood. Many are approaching the fourth quarter with a heightened sense of caution, increasing their cash positions and buying shares that have defensive characteristics.
Pessimistic views from Neil Woodford, one of the most listened-to fund managers in Britain. He said life was going to be very tough and that the chances of the country falling back into recession next year had increased.
"Frankly, I've been surprised at how well house prices have held up. [But] with a lag, we are beginning to see some weakness as more supply is coming on to the market. I expect house prices to continue to fall . . . and that will put pressure on consumer confidence."
Posted by devo @ 10:50 PM (387 views) Add Comment
1 Comment
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1. Crunchy said...
Death by a thousand cuts.
History has shown that by reducing the tax burden one can be more productive.
To whom do we owe much of this deficit? Death by a thousand cuts indeed.