I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???

Sunday, 5 October 2008

Britain spirals into recession

Britain is fast heading into recession this winter despite Washington’s $700 billion deal to bail out America’s banks, say economic forecasters.

This weekend economists cut growth predictions, warning that Britain faces a long and deep recession with unemployment rising by up to 1m.

Gloom over the economic impact of the banking crisis has intensified, with economists warning that the credit crunch is hitting hard because many parts of the financial system have stopped functioning.

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