...2010 promises to be much worse. By means of an unprecedented, coordinated government fiscal stimulus around the world economic disaster was averted in 2009.
But nothing fundamental has changed. The UK in particular is still a fantasy island with an economy built on hot air and a a feeling of unjustified entitlement to prosperity (based on history) that permeates from bottom to top of society.
Managed decline, the postwar mantra, has spiralled into accelerated (relative) decline with the rise of globalisation.
The next few years are going to be austere and tough.
And when the going gets tough, the tough (or able) get going - i.e. in a globalised economy the mobile talent leaves for greener pastures, thus making the situation worse.
My predictions for 2010:
1. Unemployment to top 3 million.
2. Taxes to rise under the Tories
3. Modest recovery in house prices this year will reverse. Fall of 5-10%.
4. Financial sector to contract with nothing to take up the slack.
5. Breakdown in society to continue with a growing underclass of feral chavs and laws that err towards liberalism. Crime to rise.
Happy New Year!
But nothing fundamental has changed. The UK in particular is still a fantasy island with an economy built on hot air and a a feeling of unjustified entitlement to prosperity (based on history) that permeates from bottom to top of society.
Managed decline, the postwar mantra, has spiralled into accelerated (relative) decline with the rise of globalisation.
The next few years are going to be austere and tough.
And when the going gets tough, the tough (or able) get going - i.e. in a globalised economy the mobile talent leaves for greener pastures, thus making the situation worse.
My predictions for 2010:
1. Unemployment to top 3 million.
2. Taxes to rise under the Tories
3. Modest recovery in house prices this year will reverse. Fall of 5-10%.
4. Financial sector to contract with nothing to take up the slack.
5. Breakdown in society to continue with a growing underclass of feral chavs and laws that err towards liberalism. Crime to rise.
Happy New Year!
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