I have to be honest and say I do not really understand exactly how and why we have reached this position but it is clear to me that the economy in the UK and worldwide has reached a point of no return.
By this I mean that while we have been in a recession in the belief the economy will simply recover like it has always done, I do not believe this is going to be the case. I have the feeling in the last 20 years there are going to be major changing in the fabric of society when as an international community we learn to live within our humble means. It does not mean necessarily the end of good times but different good times.
I think we need to simply put on our oilskins and lifejackets, and simply weather the storm until the situation has settled down.