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Randall Herbert

Sentiment Update From Non Bliar News Source

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"2006 will go down in history as the year that Britain’s economy began to finally fall apart.

For the first time in British history debts accrued by British families have overtaken the total size of the national economy due to the fact that people have borrowed so much money on their credit cards that the total amount of that combined debt has outstripped Britain’s gross domestic product. The amount of money owed by British families has risen by 10.2 % and is now at the staggering figure of £ 1,158 billion.

According to figures being prepared by the Treasury this was £30 billion pounds more than economic output across the whole of the British economy in 2005. This ever inflating bubble of consumer credit sooner or later has to burst, and either consumers reduce their credit spending or house prices will have to crash in order to stabilise the economy itself.

This has coincided with the fact that British household debts have also passed the one trillion pounds mark whilst the rate of business bankruptcies have soared to record levels and mortgage repossessions have also began to rise again.

Oil dependency

This year will also go down in history as the first time since the advent of North Sea oil that Britain became a net importer of oil. http://www.energybulletin.net/1604.html

This year is a watershed for Britain. Its entire economy is perched on the edge of crisis. Energy security has risen to the top of the political agenda and dominates the agenda in relation to nuclear energy and climate change.

Whilst the credit bubble is about to burst, the housing market is on the brink of collapse and the British economy has begun reeling from increased energy costs that can only lead to higher inflation, the forthcoming conversion of New Labour PLC to the Gordon Brown model of leadership, even though this change of leadership was not part of their manifesto promises and the British public did not vote for Gordon Brown, looks more and more like a poisoned chalice is being passed."

From a widely read site, hard to hide the truth now!!

Edited by Randall Herbert

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  • 302 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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