Cautious Britons are saving at a record rate, as the stark reality of economic contraction begins to crystallize in the public consciousness. Deposits held by households jumped a record £25.6 billion in May, adding to a significant savings stockpile accrued in the preceding months, latest Bank of England data has revealed. Concomitantly, mortgage approvals declinedContinue reading “Saving Soars as Spending Slumps”
Tag Archives: economics
Long Shadows
The long shadows of the 2008 financial crisis have left the global economy uniquely ill prepared for the unfolding economic catastrophe. Sovereigns, corporates and individuals alike have been actively encouraged to gorge on cheap lending, prompting a decade of ever spiralling debt simultaneous to a collapse in cash reserves, to maintain the illusion of economic health.
BROAD SPECTRUM 