Saturday, August 20, 2011

Batten down the hatches

Weathering the storm

Advice to UK manufacturers from Mark Thompson, senior commercial dealer at Global Reach Partners, predicting a tightening of lending and worsening credit conditions. It ends with the wise words: "It is now more important than ever for manufacturers to protect margins and act defensively." So much for Gideon Osborne's much trumpeted 'manufacturing export-led recovery'. It doesn't look like we'll see much of that any time soon. Expect more bankruptcies, redundancies, short-time working etc, reduced spending power, more pressure on households trying to pay mortgages, more mortgage defaults and distressed selling of homes and more debt problems for banks. Still, the banks did manage to pay out massive bonuses again this year.. at least the recipients will be okay

Posted by stuartking @ 12:41 AM (1136 views)
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