Tag Archives: recession

The Weak, Collapsing Pound against the Euro and Dollar.

As recession bites deeper into the United Kingdom, our usually strong pound has recently been derided as a “Peso Pound” abroad.

At the time of writing, a pound is worth $1-44, One Euro or Forty-One Russian Rubles. A collapse of over 25% in just a few short months.

Anybody with a second home in Europe or the USA, who did not stack ample cash reserves in those currencies already, will already be feeling the pain in the form of increased sterling equivalents when paying their Euro or Dollar denominated mortgages.

Anybody in the Euro zone or the USA who receives income in £ sterling will be similarly reeling, as are holidaymakers and importers.Click here to continue reading this article

UK Recession Overview

A recession or a depression does not happen overnight. You do not go to sleep one night feeling affluent, and wake up the next day inexplicably impecunious. It takes time for the economy to get over inflated, reach a peak, and then begin the slide downwards. How far it slides, and for how long, dictates whether the down wave is called a downturn, recession or a depression.

The government is fond of using other euphemisms to stop the spread of panic. “Business contractions”, “periods of stagflation”, “credit crunch”, “extended seasonal slumps”, “market corrections” and “rolling adjustments” are all fine examples of political doublespeak that all mean pretty much the same thing to you and me.Click here to continue reading this article