In These New Times

The bizarre privilege of consuming the world’s produce in exchange for a fiat currency whilst producing precious little in return has fallen to ourselves and the USA over the last forty years or so. Now we are moving towards non-consumer status as well as non-producer status, towards the collapse of the British economy such as it is. Accompanying this will be the fall of the pound and an inflationary spiral which will see essential goods priced out of the market.

Guardian

18th January, 2013

As far as the City is concerned, it is game over. The depressed state of retail sales – not just in December but in the previous two months as well – means the UK’s national output shrank in the fourth quarter. That leaves the economy halfway towards a triple-dip recession and, with the snow falling, at the mercy of the weather in the first quarter of 2013.

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