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A Scary Story From Stephen King

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Will the US consumer drag the world economy into recession asks Stephen King, the prospects look bad with falling real incomes, negative saving rates and increasing global competition.

Eggs and baskets. We all know the story. We know that, ideally, we need to spread our risks a little. Placing all our bets on just one number on the roulette wheel that makes up economic life might - just might - bring untold rewards. More likely, though, we'll end up in state of impoverishment.
* In 2004, US consumers accounted for more than half of all of the increase in consumer spending recorded globally, even though the US economy accounts for a little less than 30 per cent of global economic activity.

So if evidence starts to mount that the US consumer might be in a little bit of trouble, as Ian Morris, HSBC's New York-based economist is currently suggesting, we all need to sit up and take note. A US consumer slowdown won't just hit the US economy: it will also have a nasty impact on the world more generally

To date, the housing market has kept the US consumer's head above water. How much longer this story can carry on for is, however, somewhat debatable.

The roulette wheel is spinning and the croupier is puzzled. "All bets on one number? How bizarre."

Stephen King, Independent.

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Will the US consumer drag the world economy into recession asks Stephen King, the prospects look bad with falling real incomes, negative saving rates and increasing global competition.

Stephen King, Independent.

appropriate name. Only this time the "nightmare" is about to become reality.

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If we think Gordon is bad we should take a look at the US Govt. finances; this really could put us all into the Sh1t.

I wouldn't be quite that negative.

china and so on are extremely dependant on the US consumer for their own wellbeing and expansion.

they have been under pressure to revalue(again),and they probably will quite soon.

this accompanied by a weakening dollar leaves euroland up sh1t creek.

I don't think the consumer will be entirely responsible for a US slowdown...if nostradamus is correct we probably have another terrorist attack/war to come which will provide a useful focal point(diversion) to the weakened dollar,slower consumer.

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Guest growl

Relevent to this article is the nomination by Bush of Greenbacks..sorry Greenspans successor Ben Bernanke. I wonder when Bliar will step aside and Brown will nominate his successor.

Can we say poison chalices folks

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  • 301 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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