Friday, January 23, 2009

IMF view on recession in UK

AFAIK it is this: Essentially they thought the recession would run its course over a year or two and we would come out of it with a huge bill in terms of the national debt.

IMO: Seems correct, UTAP, thus the printing of some more money should ease the pressure as I have said earlier. Because this could in turn make a renewal of prosperity likely, and could be done gingerly, it MAY not have a very adverse effect on the UK exchange rate. Hardly a view for optimism, but not for blind pessimism either.

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