Friday, June 20, 2008
A bearish artical from Fool
In his annual Mansion House speech on Wednesday night, the governor of the Bank of England warned that the UK faces a few tough years ahead. Mervyn King said that Britain is facing its ‘most difficult economic challenge for two decades’, thanks to falling growth and the steeply rising cost of living. In some cases, household finances will be stretched to the limit, thanks to modest pay rises being gobbled up by soaring food and energy bills.