The recovery will look like “an inverted square root sign,” said billionaire investor George Soros said on Monday. Soros, speaking to Reuters Financial Television, said. “You hit bottom and you automatically rebound some, but then you don’t come out of it in a V-shape recovery or anything like that. You settle down—step down… The healing of the banking system and housing...

We have argued from the start that the policy of lowering interest rates and loosening monetary policies  could lead to inflation. This is compounded by the state of the British government’s finances, with falling tax revenues and rising welfare costs as the economy shrinks down. Damian Reece in the Daily Telegraph writes,

Bond sale flops – fears are growing on the financial markets that Britain may not be able to repay the billions of pounds in debt it is amassing to rescue banks and revive the economy. The Government admitted yesterday that, for the first time since 1995, investors had been unwilling to buy the full complement of its so-called gilt-edged bonds at one of its official auctions. Gilts are the...

Today, 25 March, is the Feast of the Annunciation. It is also a Quarter Day, when the rent must be paid. The British Retail Consortium is calling on the property industry to end the historic practice of quarterly rents.

We have been opposed from the start to the policy of trying to stimulate the economy using fiscal means to re-ignite a consumer boom and re-inflate the house price bubble. The notion is intellectually and morally bankrupt. It now seems to be approaching the end of the road. But things may now be rolling unstoppably towards the precipice of sterling collapse. A few commentators are forecasting a...