tag:blogger.com,1999:blog-19727466.post113537188781922846..comments2023-08-03T12:49:54.452+01:00Comments on Horgan: Future PoliticsSteve Horganhttp://www.blogger.com/profile/13689714700049747836noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-19727466.post-1139777549456069952006-02-12T20:52:00.000+00:002006-02-12T20:52:00.000+00:00I went to a dinner last week, where an eminent eco...I went to a dinner last week, where an eminent economist went so far as to say that consumer spending in Britain was the difference between our high growth and the lower EU average. He also pointed out that most consumer spending has been on credit, and that this was not likely to continue unless interest rates fell sharply. I am not sure I agree with the last bit. Most booms are followed by troughs while accumulated debts are worked through, so a slowdown does appear likely whatever the Bank does. Given the size of the consumer sector it does not auger will for the overall economy.Steve Horganhttps://www.blogger.com/profile/13689714700049747836noreply@blogger.comtag:blogger.com,1999:blog-19727466.post-1139761013021150192006-02-12T16:16:00.000+00:002006-02-12T16:16:00.000+00:00You have some interesting opinions.What is you opi...You have some interesting opinions.<BR/><BR/>What is you opinion on the state of the economy given:<BR/><BR/>Record personal debt;<BR/>A property price bubble that is now deflating;<BR/>Youngsters unable to buy a house due to a speculative investment frenzy pricing them out of the market;<BR/>A consumer slowdown following a spending boom based only on that record debt.Anonymousnoreply@blogger.com