It's far from over - Uber Doomed ™

[DimPrawn]

http://www.telegraph.co.uk/finance/f...says-Bank.html

Britain is showing signs of sliding towards a 1930s-style depression, the Bank of England says today for the first time.

http://www.telegraph.co.uk/finance/f...ver-pitch.html

Tensions in the financial system are approaching the fever pitch they reached before the collapse of Lehman Brothers last October, the Bank of England has warned.

The report lays bare the fears investors currently have about the creditworthiness of Britain's biggest banks. It reveals that a key measure of interbank health - the spread between the London Interbank Offered Rate (Libor) and expected interest rate levels had "started to widen again" while "contacts reported some increased reluctance to lend to banks beyond very short maturities."

The main worry haunting investors is the threat that banks could be nationalised and that financial institutions are harbouring "ongoing balance sheet constraints".

However, most worryingly, it warns that the credit default swap spread rates on large banks - a key measure of concerns about their possibly insolvency - picked up to their highest level since just before the collapse of Lehman.


http://news.bbc.co.uk/1/hi/business/7945426.stm

There is now an average of 10 jobseekers for every vacancy advertised in the UK, the TUC has warned.

The situation is worst in the south east of England, where the trade union body said its research found 60 people chasing each job.

TUC general secretary Brendan Barber told the Observer that the figures "were shocking", and showed the extent to which unemployment had risen.

http://news.bbc.co.uk/1/hi/business/7944907.stm

One in every 56 UK business will fail in 2009, according to a report by accountants BDO Story Hayward.

The report estimates that the number of business failures will increase by 59% to 36,000. This compares with 22,600, or one in 87, that failed in 2008.



Green shoots of recovery?

[BrilloPad]

Read it all on the train this morning : very bad journey in.

I wonder how GB will respond to this? More queasing I suppose?

[Shimano105]

Hang on, only last month they were urging everyone to move to the South East if you wanted any chance of a life!

[AlfredJPruffock]

I was very worried Sunday night and this morning because - try as I mighrt - I could not find the key to my bike lock - as I had left it near my workplace on Friday I was very worried that perhaps I had left the key in the bike lock - so soembosy could have easily nicked it.

Imagine my relief when I found my bike was quite secure - I had left the key in my desk and not in the lock itself.

Silly me .

You see -sometimes things aint quite so bad as you think

[BlasterBates]

Well done Alf, puts everything into perspective. People worry far too much about the economy and then carelessly lose their bike key.

[sasguru]

Ah the usual Telegraph doom and gloom. I suggest not reading newspapers as I remember this "end of the world" crap from the last recession.
The Telegraph was, not surprisingly, much more positive then, as it was a Tory givernment. The doom then came from the leftie papers.
Now things are reversed - what a surprise.

[AlfredJPruffock]

Well done Alf, puts everything into perspective. People worry far too much about the economy and then carelessly lose their bike key.

That is very true , for some it may sound far fetched but in the microcosmic world - perhaps my fretting and then joy of finding my supposed lost bike key represents in the macro world that the economic recovery is now under way - laugh if you like - but stranger things have happened.

I can tell you I shall by cyling back home tonight with extra gusto.

And - take good care of your keys out there. Do that well and all will be well.

[foritisme]

Well after watching Comic Relief on Friday, I just thank how lucky I am - there is some serious tulipe in this world !

[Doggy Styles]

Ah the usual Telegraph doom and gloom. I suggest not reading newspapers as I remember this "end of the world" crap from the last recession.
The Telegraph was, not surprisingly, much more positive then, as it was a Tory givernment. The doom then came from the leftie papers.
Now things are reversed - what a surprise.

However, the Independent is doomy as well today, estimating that it will cost every man, woman and child in the UK an average of £40,000 to clear our national and banking debts.

[TimberWolf]

However, the Independent is doomy as well today, estimating that it will cost every man, woman and child in the UK an average of £40,000 to clear our national and banking debts.

What was the figure before Labour got in?