– Expense of a foreign war,
– Consumer spending down,
– Slowdown in lending as it approaches saturation point,
– More personal bankruptcies,
– More repossessions,
– A Chancellor who wants to make the poor middle-class by giving them tax-payers money,
– Insane increase in Government staffing levels, approaching Indian levels of inefficiency,
– Bodged Private Finance Initiatives,
– Mediocre politicians desperately clinging on to power, before getting a final shove.
On a positive note:
The housing market will stabilise, as there really isn’t anything else worth investing in for Joe Public.
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The stock market has been exposed as a crooked gambling den, pensions have been blighted by bloated expectations and the Chancellors idiotic taxation of them. There’s nothing else to invest in.
Tony Blair’s third term will be overshadowed by scandal and his abdication of power by announcing his retirement too early. Should taxes go up (as is likely), and the economy down (quite possible), his exit may be speeded up by a populace coming down off its credit ‘high’, and realising it is, to all intents and purposes, skint, save for the roof over its head.