so lets get this straight just as hes about to be fired it turns out brown saved our economy after all!?
the broon haterz on here wont like that
i dont think this is an end to recession, just a slight rebound after the initial crash and panic among the stock markets, oil, pound etc
unemployment is still high and browns tactic of keeping interest rates low and printing more money has kept an awful lot of people from defaulting on mortgage payments and i suspect businesses from defaulting on loan repayments too
but rates will have to rise again..
…..causing house prices to fall quite a bit more as people are forced to downsize and those way out of their depth are repossessed
i guess the logic behind this is to keep peoples bills down so they dont run up huge debts again but keep them spending just enough to help the retail economy while things get better
public services cuts and public sector job losses are inevitable as the torries enter power and this will make things harder on the system, as long as they make sure that the money goes onto the national debt thing will get better as confidence in our financial system improves so ireckon 3-5 years before we see a proper recovery, unless you work in manufacturing in which case you are generally fuct
these are just my opinions i am neither an economist or a political scientist and i personally want house prices to fall another 20-30 % so i can buy a house that i think is value for money