Friday, February 8, 2008
Last Chance Saloon
"The UK household sector is borrowing at a cyclically unprecedented 4pc of GDP. Allowing economic growth to be based on unsustainable asset price bubbles was always going to be a recipe for disaster because the snapback can be vicious. This is a mess of the policy-makers' own making." Interesting article about National Debt - and a scary looking Balance of Payments chart that as good as mirrors the housing market boom and bust.