The Coming Economic Downturn

Just flicking through this morning’s Pink ‘Un must be grim reading for Darling and Brown:

UK home affordability hits 15-year low

Decline in UK confidence hits hiring

UK producer price inflation hits 16-year high

The authoritative investment bank Morgan Stanley is now predicting a U.S. recession next year. Given that the British economy is debt-bloated and during the feast years Gordon just splurged on more spending rather than putting something aside for a famine, the U.K. economy is heading for a very hard-landing next year. The Tories will be very glad that Gordon didn’t call that election. Happy Christmas…

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Quote of the Day

Peter Mandelson tells Emma Barnett…

“I think that Jeremy Corbyn himself should search his conscience and ask himself whether he’s the best person to lead the Labour Party into the general election with the best chance of success for the party.”

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