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Monthly Archives: October 2011

The times they are a changing… We certainly live in interesting, changing times – stagnant economic output in the developed world coupled with high levels of debt not seen since 1970s in the UK; high unemployment; rising inflation; fall in real incomes and living standards; largest gap between rich and poor in decades; negative real interest rates; banks failing to lend; Greece on the verge of default; Italy looking to China for a handout; the US already at its maximum indebtedness to China; China poised to overtake the US as the world’s largest manufacturer; the US government’s credit rating lowered; riots and the promise of strikes and social unrest in UK/Europe; high volatility in stock markets nervous of continuing uncertainty making matters significantly worse… Is this the legacy of western capitalism? Read More