There is a boom coming – but in China, not here
by Anthony Hilton; from Evening Standard 29.07.09
For most people this is still the phoney recession.
Just as in 1939 war was declared and then for months after the initial shock nothing happened, likewise for most people who have not actually lost their jobs this does not yet feel like a recession.
We have had the near collapse of the banking system but, since then, the lowering of interest rates on mortgages and the drop in fuel costs have boosted disposable income, in spite of the biggest fall in national output since the Thirties.
Unless they have lost their jobs or gone on short-time working, most people feel better off.
They wonder what the fuss is about. They won’t need to wonder much longer. Continue reading ‘There is a boom coming – but in China, not here’
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