Britian is BUGGERED (Very soon)

[Mega]

http://www.spiegel.de/international/...504406,00.html
Mike

[grapejelly]

Re: Britian is BUGGERED (Very soon)

good article.

Is this finance-is-everything happening in Australia also, I wonder?

[c1ue]

Re: Britian is BUGGERED (Very soon)

Mega,

I've long wondered why Britain hasn't had their bubble pop yet - I'd think with the high interest rates set by the BoE, that finance would already have taken a hit.

I know there are some structural differences - for example I believe there is no property tax, but is there some other reason why the needle hasn't penetrated the balloon skin yet?

I've been hearing anecdotes for some time now on how difficult survival is:

one story involves how a person who frequently travels to England (and is English) used to get invited over all the time, now is rarely given such an honor. His view is that living expenses are so high now that his circle of friends are embarrassed at not being able to afford meat, hence don't entertain.

Certainly these could be untrue, but as I believe you are over there, perhaps you could illuminate?

[Mega]

Re: Britian is BUGGERED (Very soon)

MSM has focused on Iraq/Game show etc, i can't belive JUST how dumded down the BBC has become. Some years ago there was a chap on the Bank of England panel callled Roger Bootle.

Rog got sacked, but before he went he said that we should get rates higher NOW to stop the spending surge. We didn't and those Montain like Credit card bills stacked up!

Oh What a bitter harvest is to come.
Mike