Don't get me wrong. Like a great many people I have benefited from the economic growth and house price inflation of the last ten years. I know that nobody knows for certain the near future in the world of economics. I have a bullish attitude to life and money. Though this year I am a big grisly bear.
Its 18 years on in the cycle from the last recession. One is due. There is a phoney war at present. Although the sound of gunfire in the form of two thirds of mortgage products being withdrawn since August is just audible to most.
Belts are tightening, costs are rising, taxes are increasing, credit is tightening, houses are falling and airlines WILL be hit. Hard. They always are in every recession.
If you didn't know this then please be advised that it is so. It happens quicker and harder than anyone expects at the time.
Its NOT different this time.
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