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Where Are We?

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Sticking to what is known or almost certain, we now have:

In the short-term:

1. The first round of public sector job cuts

2. An environment of rising risk

3. High oil and food prices

4. Restrictive lending practices (you take the risk on your Golden Ticket now, not the banks)

5. Portugal taking a bite out of the EFSF

In the medium-term:

6. A serious demographics problem in Japan, the US and half a dozen European countries

7. An environment of rising risk, increasingly as a result of 6

8. Default/restructuring in Greece and Ireland

9. Slower growth in the Far East

10. An increasing debt-load on people in their 20s and early 30s through unemployment and/or tuition fees

Any other big ones?

Anyone care to suggest the positives?

All of these events are going to destroy money and credit. I expect governments around the world to step in again and again to fill the hole.

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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