British Economy Suffers At Hands of Global Credit Crunch
Philadelphia, PA
It appears that the United Kingdom’s recent claims of flourishing economic growth suffer from artificial inflation. Although an increasing reliability on movement of foreign money over the last decade has allowed the UK to experience impressive growth recently, it has also put the British economy at greater risk to the negative effects of the growing global credit crunch.
One of the U.K.’s chief economists, Howard Archer, said early last week that there were in fact “very real risks” at the present and admitted, “maybe we
are being too complacent.”
That’s great financial planning guys! Make your economy so reliant on other economies that it can’t weather the storm when things go awry elsewhere. At least in the United States we make our own financial crisis happen for ourselves. How typical of nearsighted British greed!
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