British finally learned to become savers?

Discussion in 'Economics' started by zdreg, Oct 22, 2008.

  1. zdreg


    "LONDON — The expensive stores along Bond Street and Sloane Street have fallen eerily quiet, as have the cheaper ones scattered all over town. Britons are coming down from their huge spending spree, and alarm about the future is coursing through the nation like an electric current, as it is everywhere.

    But there is a parallel thought in the air: perhaps the downturn, however painful, will lead to a return to the values of the past. Perhaps the last 15 years or so will be considered a sort of madness, an anomaly, a strange dream. In a country whose modern identity was forged in part by postwar principles like thrift, prudence and living within your means, perhaps people will lower their widely inflated expectations and go back to making do."
  2. Mup


    They best start saving in dollars as the pound looks on its way parity of 1:1 over the next few years :(

    Its at a 5 year low this morning @1.63
  3. zdreg


    they best start saving in yen and yuan or $Can which are real currencies.

    at 1:1 the cost of living would be about the same.
  4. Yes, the Canadian dollar is showing real promise.
  5. just21


    The dollar might look good against sterling, but printing money and cutting interest rates is going to be inflationary at some point.
  6. sccz97


    that didnt quite make it through my sarcasm filter
  7. the brits are some of the most racist pple u will ever meet anywhere. full of football hooligans and drunks, unemployed idiots who live on benefits while railing against hardworking migants