What’s this recession about? In three words – debt, debt and debt.
It’s about consumer debt, business debt and government debt.
Consumers have had a wake up call and many have changed their lifestyles dramatically to cope.
Businesses that were previously borrowing to finance growth – or worse still, to survive – have gone into survival mode.
The government? Well, politicians are panicking as……… the papers are full of “shit hitting the fan” stories of how they are trying to cover their backsides and convince us that claiming expenses on three homes etc is all OK as it’s within the rules.
I’m glad they have their priorities sorted.
