"UK tiptoeing towards Japan, warns forecast" is the headlines in today's
Daily Telegraph.
It continues: "The world's leading developed economies have a 40% chance of
falling back into a 'malign' recession, a leading forecaster has warned.
Problems in the banking sector and the growing risk of a sovereign debt
have raised the prospect of a 'prolonged' era of slow growth or
contraction. Fathom Consulting says today in its forecast for UK, US,
Europe and Japan."
Funny! But not funny. I've read this sort of forecast several times in the
past year by all sorts of economists, forecasters and think-tanks.
Interestingly, they nearly always say "40%", sometimes even "50%" when
they're very daring.
I'll buy a bottle of whisky to the first forecaster I read in the press who
tiptoes to "51%", or more.
Keith
Keith Hudson, Saltford, England
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