The House Price Crash is now indicating a full 9 on the Richter scale.
This is Dresdner Bank analysts prediction for TaylorWimpey:
We believe there is a very real danger that Britain's biggest housebuilder by volume faces collapse when covenants are tested in February
Thats a very real risk of them going bust. They asked for £500m today and the Computer Said No..
Do not put any faith in aircraft order books. Do not derive comfort from last years trading profits. Do not ignore historical fact. By the end of next year several UK airlines will be bust. Dozens of European ones. Hundreds around the globe.
The coming recession will surpass the early 1990's and resemble the 1970's recession. A winter of discontent can not be discounted given real inflation rates of 11% and public sector wage settlements of 1.9%. The mood is mutinous and one spark is all it will take.
It really is serious.
Its not different this time.
WWW