Sunday, January 16, 2011
As requested by STR 2007
Simon Heffer being surprisingly muted, non-committal and non-judgmental: "Where my economist friend is almost certainly right is that, even without external shocks, interest rates must rise. Personal bankruptcies and business failures will rise with them; so will unemployment. House prices will fall, and possibly also many other asset values, including the stock market. We cannot postpone indefinitely the final acceptance that we must live within our means."