After the bursting of the credit bubble in August, 2007 Alastair Darling repeatedly assured us that Britain’s ‘economic fundamentals’ are sound. The implication was that the ‘real’ economy was quite distinct from the bubble economy inhabited by bankers, short-sellers and hedge fund managers. Consumers were given the impression that a firewall existed between them and the bursting credit bubble.
It now turns out that there is no firewall; even the ... read more

















