May 20th, 2009
02:59 PM GMT
Just read an excellent economic report from HSBC about what will happen after the recovery arrives. Fundamental point is that some governments (like the US and UK) have borrowed so much to get us out of the mess that we will be paying it back for a very long time.
Numerous scenarios are put forward – all involve times and period of either higher taxes, lower spending or both. It is an admission of what we all know in our hearts of hearts – that the payback from this crises will be long and painful.
We are covering this tonight on QMB and I am going to make this my Twitter question tonight.
It’s sad to say but if we had saved more in the good years we wouldn’t be in such a horrible state once the recession is over.