Friday, July 3, 2009
Green shoots turn into brown heap
The OECD believe its worse in England than in the USA. In the USA yesterdays massive unemployment news has demonstrated to many leading economists that there are no green shoots at all. We are still deep in recession and its going to get worse without doubt according to Nouriel Roubini who correctly predicted the downturn to begin with. House prices which have already fallen 27% will fall a futher 40% in the USA - so if its worse in England lets hope all the property crazed idiots are bracing themselves for the real down turn most of which is yet to come.