I remember life in the Thatcher days, and personally I was never well off under her rule. Things got better for me under John Major for some reason, but under Labour since 97 I've just got poorer and poorer. I think things will get far worse before they improve, and even then, it will take us about 25 years for future govt to pay back what the country now owes.

Sorry, but they haven't even reached for the brake in order to stop the financial disaster that's now happening. The govt hope that we will all go out and spend money that we can't afford to even borrow so that we spend our way out of 'trouble', and that got us all in this mess in the 1st place.Whatever happened in the US will certainly affect UK and the rest of the world in one way or another. The effects on our financial system are different because our banks are well regulated but their investment banks are not. Banks that have less exposures to the US sub prime market crisis maybe less affected by the credit credit unless they are required to help those destress banks and end up in trouble with the rest. This maybe the reason why HSBC and Barclays bank did not want to be bailed out by the government. It will get worse for another year or two, at least. Do you remember how tight things were in the ‘ 80s? Like that again, perhaps even more. We survived then, and we will again. I can’t compare today with the Great Depression – I wasn’t around then

 

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