Monday, January 14, 2008

Roger Bootle bearishness

UK high street has echoes of 1990s recession

There are worrying similarities with the early 1990s recession - except that there has been an even bigger build-up of debt and an even bigger bubble in the housing market.

Posted by timelash @ 07:22 AM (550 views)
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One thought on “Roger Bootle bearishness

  • converted lurker says:

    I’d rather Roger remained high brow than dumb down his narrative for Telegrpah readers. This section: “spending on many things is an unavoidable fact of life. For example, there’s little scope to reduce spending on mobile phone bills, utility bills, rent, car insurance, school fees or petrol. In contrast, people can cut back on the latest fashions, a new car, an iPhone or the morning latte” ….er….try pay as you go phones, pay as you go credit cards, turn the heating down, downgrade the car, use state schools and get invoved with your kids more…Jeez it always strikes me as odd as to the things people just “can’t cut back on”. Know a woman who is going through a bitter divorce, they havn’t paid the mortgage for 4 months, still gets her hair done weekly and drives around in a nearly new merc with private plates on wearing expensive designer labels. I often get the impression Brits will shop until someone cuts off their fingers and toes

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