Are we poised is to see the third leg of the credit crunch crisis?
After the initial credit crunch hit the US and began to spread around the world there was a period when many observers believed concerns had been overdone and the markets and economies around the world would return to "normal". However, we then saw a second leg which impacted upon the worldwide financial sector, stock markets, government budgets and other vital elements of "everyday life". However, there are growing concerns that we could be poised to see the third leg of the credit crunch hit the worldwide economy!
Earlier this week we saw concerns appear regarding the Greek economy, which has struggled due to the downturn, with a massive increase in the Greek government budget deficit. There is also the ongoing situation in Dubai which, despite government claims that it is "under control", still has some way to go before it is totally resolved. As a consequence, there is growing fear in the money markets that more governments around the world will struggle to raise funds needed to see them through the short to medium term, a time when the worldwide economy and local economies should start to turn the corner.
The danger is that if economies are starved of potential financial investment in the short term we could see a sharp U-turn and a further lurch downwards. This could literally push the worldwide economy into a depression, never mind a recession!
Alex Salmond told to concentrate on Scottish economy
While he has become something of a peoples champion in Scotland by bashing the English at every opportunity it seems that Alex Salmond needs to get down to the bread and butter business of saving the Scottish economy. He is being accused by opposition parties of not acting quickly enough to safeguard up to 100,000 construction jobs in Scotland and being blinded by his controversial plans to fund...Read More
UK car production down 31.5% in August
Despite the fact that the UK car industry has been performing very well over the last three months, it was today confirmed that the production of new cars in the UK fell by 31.5% in August. This figure has shocked many in the industry although when you consider that August is historically one of the quieter months in the new car calendar, it is maybe not as bad as it looks at first glance. However...Read More
Report: Education not preventing minority poverty
Education is not helping solve the problem of poverty among Britain's ethnic minorities, a report suggests.Today's research from the Joseph Rowntree Foundation (JRF) thinktank claims that while 20 per cent of the UK's white population live in poverty, the equivalent figure for ethnic minorities is double that at 40 per cent.Bangladeshi and Pakistani minorities are especially unlikely to be able to...Read More
UK services sector under serious pressure
Over the last 30 years the UK has moved from a manufacturing based economy to a services based economy with literally millions of jobs created in the services industry. However, it has been revealed that for the ninth month in a row there have been significant job losses in the services sector and there are concerns that this could continue for some time to come. While there is one crumb of hope,...Read More