Brian Pearson wrote
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Gordons' economic miracle has been built on consumerism fueled by credit. Not just cards and loans but re-mortgages based on over inflated house prices. Money from nowhere !
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Yup ! I could not agree more ! Just about here there are quite a few indicators that Gordons miracle economy might be turning a little less miraculous. OK in some industries Jan / Feb are always quiet months due to the post Xmass financial hangover. But I have been hearing a few worrying things around here.
The mobile phone company along the corridor from my office can't seem to sell a single phone at the minute.
The used car dealer who is below my office is hardly selling a car, and a few months ago I was watching cars roll off his forecourt several times a week.
The upmarket car dealer just round the corner has had a Ferrari 550 Maranello in it's window for ages, it has gradually gone down from £66,000 to £57,000. What does that tell you ?
A mate is a Chiropractor and he is very quiet, when he rang round some of his mates in the profession they all said the same thing. Some said they had never known a January so quiet. Worse still the 'casual' patients had dried up, and only trauma cases or people in quite a bit of pain are showing up.
Add in soaring domestic fuel prices, record credit card borrowings, unemployment creeping up et al, and I think our economy might just be going down the tubes. My bet is that in a few months the R word will be on everyones lips.
RECESSION !
What chances for Liebours re-election then ?