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He warned that the "financial bubble" of the last 25 years could well be drawing to an end and the post World War II "super-boom" era could be over permanently.

...

And he said that the UK was worse-placed than America to weather to coming economic storm, because it had such a large financial sector and has had the biggest increase in house prices.

Soros diagnoses the Anglo Disease.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Migeru (migeru at eurotrib dot com) on Tue May 20th, 2008 at 05:03:41 AM EST
[ Parent ]
We also have stupider governemtns.

At least the Americans are greedy enough to recognise a bad investment plan, the British are stupid cos they only stop when the americans tell them to and they havne't yet.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Tue May 20th, 2008 at 06:26:45 AM EST
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