Friday, December 7, 2007

The chart below looks like the cardiogram of a patient who is suffering a heart attack

Britain is structurally more vulnerable than America to a severe economic slowdown.

Britain is structurally more vulnerable than America to a severe economic slowdown. This is because Britain's growth in the past decade has been driven by three forces — finance, housing and public sector spending — all of which are now going into reverse. To make matters worse, the City is about to be hit by the biggest tax changes in a generation, which are bound to drive at least some high-value financial activities offshore.

Posted by chris @ 06:41 AM (493 views)
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2 thoughts on “The chart below looks like the cardiogram of a patient who is suffering a heart attack

  • I just don’t know what the journalist who wrote this was thinking……..check out the comments at the bottom of the page.

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  • Yes, the Home Office are even resorting to “nasties” like cutting off back-pay for police (see BBC). We have spent all our public sector cash on “non-jobs” and what have we got to show for it? We cut pay for bobbies on the beat, but the “political correctness police” thrive!

    This article is exceptionally good at showing the structural weakness in the UK. One push and the whole lot could fall over.

    How does this affect house prices – well the housing bubble is resting on very shaky ground. Bubbles can go “pop” at any time, but our current structure is so wobbly, it could increasingly trigger that burst.

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